Bucs may have had a bounty like system

[kungfoodude]

19 minutes ago, Jesse said:

It doesn’t matter what the percentage of their pre-tax paycheck is. It’s about the lack of financial literacy and lack of planning for many athletes. I didn’t necessarily imply the two jabronis from Tampa, but athletes as a whole. 

I really think you are just using this story as an excuse to lash out at athletes rather irrationally. It's their money, they did the hard work to achieve the opportunity to make it, and they can do with it as they see fit. 

[trueblue]

47 minutes ago, kungfoodude said:

I literally don't care what the number is, nor if you make it up. I will make up the number of $50,000 for the sake of this exercise.

I was just going to illustrate that if they had a thousand dollar wager on each game this season(19 total including the Super Bowl), that is $19,000 over the course of this past season. Devin White made $1,827,537 in salary in 2020(not including the bonus he was paid in 2019). If he lost every week, that would be roughly 1% of his income. LeVonte David made $10,750,000 in salary in 2020. If he lost every week that would roughly be 0.17% of his income.

For perspective, 1% of $50,000 is $500. Divided over 19 weeks, this would equal $26.32 per week in wagering. 0.17% of $50,000 is $85. Divided over 19 weeks, this would equal $4.47 per week in wagering.

So.....how is this an example of them going broke???

 

The point (I believe) was not that it was a ridiculously large sum, but part of a larger trend that too many NFL players are unable to make sound financial decisions.. Not to derail, but the average NFL career is 3.3 years. Sports Illustrated had a study that showed 78% of NFL players are either bankrupt or under significant financial stress within two years of leaving the game. 

 

So yeah.. He had a good point. 

[Jesse]

26 minutes ago, kungfoodude said:

I really think you are just using this story as an excuse to lash out at athletes rather irrationally. It's their money, they did the hard work to achieve the opportunity to make it, and they can do with it as they see fit. 

What? I’m not lashing out at anyone. It’s not my money, they can do what they want with it. 

[kungfoodude]

22 minutes ago, trueblue said:

The point (I believe) was not that it was a ridiculously large sum, but part of a larger trend that too many NFL players are unable to make sound financial decisions.. Not to derail, but the average NFL career is 3.3 years. Sports Illustrated had a study that showed 78% of NFL players are either bankrupt or under significant financial stress within two years of leaving the game. 

 

So yeah.. He had a good point. 

I don't think that small wager is the core of why NFL players struggle financially. Plenty of regular folks also make small wagers. Would it be better to take that gambling to a professional casino, like a brokerage or hedge fund? Sure. But it is just something they are doing for fun. 

Same as any person doing a Super Bowl squares event or an NCAA tournament bracket pool or fantasy football or putting money down on a round of golf.

It's a logical leap to assume that is a symptom of a bigger financial irresponsibility problem, although it could be.

[trueblue]

17 minutes ago, kungfoodude said:

I don't think that small wager is the core of why NFL players struggle financially. Plenty of regular folks also make small wagers. Would it be better to take that gambling to a professional casino, like a brokerage or hedge fund? Sure. But it is just something they are doing for fun. 

Same as any person doing a Super Bowl squares event or an NCAA tournament bracket pool or fantasy football or putting money down on a round of golf.

It's a logical leap to assume that is a symptom of a bigger financial irresponsibility problem, although it could be.

We have totally left the rails on the Buc's being turds.

 

I think the real issue here is many of these guy make silly money for a short period of time.. I can't blame any of these guys for living the life of a multi millionaire.. I bet 90% of NFL guys fail to do is treat that 3, 5, 7 year pay window as a 40 year income source.. Living like you make 15 mill over 5 years is going to mean there isn't generational wealth waiting at year 6 let alone year 40.  I was going to lump NBA guys in here, but they are making absolutely insane money all guaranteed.. them and MLB guys have such an advantage of guaranteed contracts. 

Edited February 2, 2021 by trueblue

[kungfoodude]

2 minutes ago, trueblue said:

We have totally left the rails on the Buc's being turds.

 

I think the real issue here is many of these guy make silly money for a short period of time.. I can't blame any of these guys for living the life of a multi millionaire.. I bet 90% of NFL guys fail to do is treat that 3, 5, 7 year pay window as a 40 year income source.. Living like you make 15 mill over 5 years is going to mean there isn't generational wealth waiting at year 6 let alone year 40.  I was going to lump NBA guys in here, but they are making absolutely insane money all guaranteed.. them and MLB guys have such an advantage of guaranteed contracts. 

For sure this is a tangent on the OP. Not what I intended.

Yeah, I would never dispute that a lot of these athletes are not making wise financial decisions and they are also not living like there is a tomorrow. It's a big problem and some sports(like the NBA) have done a better job over time about making sure the athletes get the proper financial education that can help them avoid some of these potential pitfalls. 

But, honestly, I don't think big money athletes are really the exception. I think the majority of regular Americans wouldn't build themselves to have generational wealth and they would just adjust their lifestyle to meet their new income level. I see it happen all the time in my personal life working with people.