NFL Exec Matt Higgins On How Perception Of Sports Betting Has Changed In The League

Matt Higgins recently joined Benzinga’s “SPACs Attack” to discuss several topics, including the growth of the sports betting market.

Sports Betting Change: Higgins counts vice chairman of the Miami Dolphins among his many roles. He also was an executive vice president of the New York Jets.

Higgins told Benzinga it has been interesting seeing the dynamic change over sports betting in the NFL.

In his early days with the New York Jets, Higgins wanted to do branded lottery tickets and pitched the idea to the league. The NFL said no, not wanting to be involved with the lottery. Years later, Higgins was able to get branded lottery tickets with the Miami Dolphins.

Higgins said the sports betting market could be worth $30 billion at maturity in 2025.

“I think it’s obviously here to stay,” Higgins said.

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Investing in Sports Betting: Higgins invested in Action Network, a company that creates content around sports betting. The company has Darren Rovell, formerly of Walt Disney Co.’s DIS ESPN unit, as one of the writers and personalities.

Higgins called Rovell one of the smartest out there and noted Rovell's high number of followers on Twitter.

Higgins said one of the companies he is investing in is the Drone Racing League, licensed in New Jersey for betting and working on getting into other state markets.

FanDuel, which is exploring going public, is a company Higgins admits he missed out on. Higgins had the opportunity to buy a stake in the company six years ago but ultimately passed.

Higgins mentioned the Roundhill Sports Betting & iGaming ETF BETZ as a potential way to play the growth of sports betting. The ETF holds a basket of stocks related to sports betting rather than having to pick individual names.

“We’re a quarter of the way through there in the space,” Higgins said of sports betting.

(Photo: Benzinga SPACs Attack)