The Ravens? Willis McGahee or the Redskins? Clinton Portis? Fantasy football players ponder those and other lineup decisions while on the job, and that lost on-the-clock time could cost U.S. companies hundreds of millions of dollars a week during the NFL season, according to a recent study.
The time employees spend poring over their lineup or stalking the waiver wire could cost employers $275 million to $435 million per week, and that?s a “conservative” estimate, said Rick Cobb, executive vice president of Challenger, Gray & Christmas Inc., a Chicago-based employment research firm.
“When you think about it, over a 17-week NFL season, that could result in more than $4.5 billion in productivity,” Cobb said while holding back laughter.
About 17 million Americans play fantasy sports each year, with about 13.6 million playing fantasy football, according to the Fantasy Sports Trade Association (FSTA).
With data from online market researchers comScore.com and Hitwise.com, Cobb?s firm found that the average income of fantasy participants was $60,000 to $100,000 per year. Using the midpoint of the range, $80,000, the average fantasy football player earns $38.45 per hour or $6.40 every 10 minutes.
If all 13.6 million players spend 10 minutes per workday on fantasy football, that?s $87 million every 10 minutes.
Fantasy sports generate more than $1 billion a year on publication subscriptions, league entry fees, draft kits and fantasy software, according to the FSTA.
There is some benefit to employers to allow fantasy sports in the workplace, said John Challenger, chief executive officer of Challenger, Gray & Christmas. The leagues build camaraderie in the office.
“Companies that not only allow workers to indulge in fantasy football but actually encourage it by organizing a company league are likely to see significant benefits,” Challenger said in a statement.
Even Chip Paucek, chief executive officer of Hooked on Phonics in Baltimore, in a recent Examiner interview named fantasy football as one of his top hobbies.
“I just had a draft and took Ronnie Brown,” said Paucek, a Miami Dolphins fan.
Fantasy Sports Costs
» Fantasy sports players spend an average of $500 per year on fantasy sports publications, draft equipment and software.
» About 60 percent of fantasy sports players say they spend more than one hour each day just thinking about their teams.
Source: Challenger, Gray & Christmas
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