Navigating The Major Expenses of Sports
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Jan 21 2015, 8:01 AM
Sport is one of the most popular pastimes and careers in the world. Whether you play sport at a professional level or a recreational one there’s no doubt that you will get some enjoyment from it. Sport is a great method of keeping fit and healthy. It also helps us learn about the importance of teamwork and increases social skills.
Playing competitive sports are a great ways for kids to develop new skills and interests. It also teaches them the importance of how to win and lose. Even as adults we get so many benefits out of playing sports. The keep our bodies fit and help us interact with others in a positive way.
Sport is also one of the most lucrative industries in the world. Even single sports such as soccer and NFL generate billions of dollars each year.
FEES
If you are playing sport at an amateur, recreational level you will need to take into account that you have to pay fees. If you turned up somewhere to play, say, tennis then you’d have to pay to use the courts. This will not always be an expensive amount but will act as a nominal fee to help toward the running of the club.
Much like joining a gym you will have a few options when it comes to paying fees. You may just want to pay as and when you attend. But you may instead decide to take up membership of a particular club. If you do this, then you’ll need to pay a monthly or weekly payment for a set period to cover the yearly membership fee.
If you aren’t interested in joining clubs and you just want to play in a recreational sense with your friends this is also possible. But it will depend on the kind of sport you want to play. Some will be easier to do this with than others. For instance, you could just take a soccer ball up to the park and play with your friends. Whereas something like tennis or squash would need a court and so you’d need to think about fees in this instance.
EQUIPMENT
One of the largest expenses in sport can be equipment. Again it will depend on what sort of sport you do. It will also depend on whether you are a member of a team or club and whether you’re responsible for providing equipment. Something like swimming will need costumes and a pool, and thus the equipment is inexpensive. Though you will need to pay for the upkeep and maintenance of the pool.
If you run a local football team, then you’ll need to get quite a bit of equipment. Helmets, jerseys and dummy’s will be needed. And that’s just to start with. You’ll want to bulk buy equipment, but it also needs to be high quality to ensure it lasts a long time and is safe. This is an expense that you’re not going to be able to avoid if you run a club.
If you are an individual looking to play some sports with friends, then equipment will be less of a problem. You may just need a soccer ball as you can visit the local park. Jumpers always make good goal posts. If you want to play tennis, then some balls and a racket will be enough.
INSURANCE
A major expense, when it comes to sport, is sporting insurance. Professional sports teams and clubs will have insurance that covers the club already. But if you run an amateur club then you need to think about getting some insurance. SportsCover Direct will cover you for injury and accidents. They also offer team insurance and children’s sports insurance.
If you run a club then you’re responsible for what happens to the members of the club. For this reason, it’s important for you to make sure you're insured. It covers your back and protects you and the club. You're shielded from liability if anyone's injured or any possessions or equipment get lost or stolen.
If the club travel abroad for international sports tournaments you’ll definitely need insurance. If you don’t have insurance, then you could be facing much bigger expenses if anything happens on the trip. If you run a kid's team, then you also need the parents to be comfortable with their children joining the team. Having insurance shows that you are responsible and care about the well-being of the club and those involved.
BETTING
Betting is a major sporting expense. The betting industry makes millions and millions every year. These days there are so many different sporting events and markets to place bets on that it is even more popular than ever before. The industry is developing to the point where even people with limited knowledge of a sport still feel like they can make bets.
If you like to bet on sports then your betting activity may vary depending upon what sports you’re into. If you want to bet on the Super Bowl, then you might bet on the number of touchdowns or interceptions that take place during the match. If you bet on horse racing then you may only bet on a horse to win.
You should be sensible when betting as you are essentially gambling. Never bet large sums of money and try to avoid betting on sports you aren’t knowledgeable about. If you’re betting on sports you have knowledge and interest in then you can make educated guesses. Whereas if it’s a sport you know nothing about the it’s a total gamble.
WAGES
Perhaps the biggest expense in professional sport is wages. This won’t apply if you’re just playing with friends. And it may not apply to amateur teams. But professional athletes command high wages. For example, soccer or basketball stars earn millions of dollars each year. And these are just the up front wages from their clubs.
On top of this, they will also have endorsements and sponsorship deals. As many sports stars are known across the world they become global brands. Because of this they receive sponsorship deals from companies to advertise their products. This is yet more money for the athletes.
But the clubs or teams will not normally cover these expenses. They will cover the wages that make up the largest expense. This is particularly the case if there is a team or squad of sports stars all on large wages, as in the case of Premier League soccer.
Sport is one of the most popular pastimes and careers in the world. Whether you play sport at a professional level or a recreational one there’s no doubt that you will get some enjoyment from it. Sport is a great method of keeping fit and healthy. It also helps us learn about the importance of teamwork and increases social skills.
Playing competitive sports are a great ways for kids to develop new skills and interests. It also teaches them the importance of how to win and lose. Even as adults we get so many benefits out of playing sports. The keep our bodies fit and help us interact with others in a positive way.
Sport is also one of the most lucrative industries in the world. Even single sports such as soccer and NFL generate billions of dollars each year.
FEES
If you are playing sport at an amateur, recreational level you will need to take into account that you have to pay fees. If you turned up somewhere to play, say, tennis then you’d have to pay to use the courts. This will not always be an expensive amount but will act as a nominal fee to help toward the running of the club.
Much like joining a gym you will have a few options when it comes to paying fees. You may just want to pay as and when you attend. But you may instead decide to take up membership of a particular club. If you do this, then you’ll need to pay a monthly or weekly payment for a set period to cover the yearly membership fee.
If you aren’t interested in joining clubs and you just want to play in a recreational sense with your friends this is also possible. But it will depend on the kind of sport you want to play. Some will be easier to do this with than others. For instance, you could just take a soccer ball up to the park and play with your friends. Whereas something like tennis or squash would need a court and so you’d need to think about fees in this instance.
EQUIPMENT
One of the largest expenses in sport can be equipment. Again it will depend on what sort of sport you do. It will also depend on whether you are a member of a team or club and whether you’re responsible for providing equipment. Something like swimming will need costumes and a pool, and thus the equipment is inexpensive. Though you will need to pay for the upkeep and maintenance of the pool.
If you run a local football team, then you’ll need to get quite a bit of equipment. Helmets, jerseys and dummy’s will be needed. And that’s just to start with. You’ll want to bulk buy equipment, but it also needs to be high quality to ensure it lasts a long time and is safe. This is an expense that you’re not going to be able to avoid if you run a club.
If you are an individual looking to play some sports with friends, then equipment will be less of a problem. You may just need a soccer ball as you can visit the local park. Jumpers always make good goal posts. If you want to play tennis, then some balls and a racket will be enough.
INSURANCE
A major expense, when it comes to sport, is sporting insurance. Professional sports teams and clubs will have insurance that covers the club already. But if you run an amateur club then you need to think about getting some insurance. SportsCover Direct will cover you for injury and accidents. They also offer team insurance and children’s sports insurance.
If you run a club then you’re responsible for what happens to the members of the club. For this reason, it’s important for you to make sure you're insured. It covers your back and protects you and the club. You're shielded from liability if anyone's injured or any possessions or equipment get lost or stolen.
If the club travel abroad for international sports tournaments you’ll definitely need insurance. If you don’t have insurance, then you could be facing much bigger expenses if anything happens on the trip. If you run a kid's team, then you also need the parents to be comfortable with their children joining the team. Having insurance shows that you are responsible and care about the well-being of the club and those involved.
BETTING
Betting is a major sporting expense. The betting industry makes millions and millions every year. These days there are so many different sporting events and markets to place bets on that it is even more popular than ever before. The industry is developing to the point where even people with limited knowledge of a sport still feel like they can make bets.
If you like to bet on sports then your betting activity may vary depending upon what sports you’re into. If you want to bet on the Super Bowl, then you might bet on the number of touchdowns or interceptions that take place during the match. If you bet on horse racing then you may only bet on a horse to win.
You should be sensible when betting as you are essentially gambling. Never bet large sums of money and try to avoid betting on sports you aren’t knowledgeable about. If you’re betting on sports you have knowledge and interest in then you can make educated guesses. Whereas if it’s a sport you know nothing about the it’s a total gamble.
WAGES
Perhaps the biggest expense in professional sport is wages. This won’t apply if you’re just playing with friends. And it may not apply to amateur teams. But professional athletes command high wages. For example, soccer or basketball stars earn millions of dollars each year. And these are just the up front wages from their clubs.
On top of this, they will also have endorsements and sponsorship deals. As many sports stars are known across the world they become global brands. Because of this they receive sponsorship deals from companies to advertise their products. This is yet more money for the athletes.
But the clubs or teams will not normally cover these expenses. They will cover the wages that make up the largest expense. This is particularly the case if there is a team or squad of sports stars all on large wages, as in the case of Premier League soccer.
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