Sports Betting: a Look into the Industry’s Past and its Huge Growth Potential for Job Seekers

By: Alison Doherty, Assistant Director of Career Services for the School of Communications

A little over two years ago, the Supreme Court lifted the federal ban on sports betting, and since then 20 US states have already legalized the practice in some form.  Now allowed in 40% of the country, and continuing to expand, it is clear that this will become a huge industry with an enormous impact on the business of sports.  A hot topic amongst sports enthusiasts and lawmakers alike, it is often viewed as controversial, but regardless of one’s views on it, it is a rising data-driven market that is creating jobs in the areas of marketing, technology, and business development/operations.  I sat down with Bill Squadron, Assistant Professor of Sport Management, who opened my eyes to this growing field as we discussed the history of sports betting, its operations, and how students can best prepare themselves for jobs in this area.

History and Growth

Professional sports leagues have been concerned about sports betting ever since the game-fixing scandal of the 1919 World Series.  The Professional and Amateur Sports Protection Act of 1992 (PAPSA) effectively outlawed sports betting nationwide except for a few states, most notably Nevada which brought in billions of dollars through sports gambling.  Just like during Prohibition however, illegal gambling was still prominent in the US, and the rise of the internet caused black marketing gambling to increase substantially over online platforms.  As NBA Commissioner Adam Silver stated in 2014, “despite legal restrictions, sports betting is widespread.  It is a thriving underground business that operates free from regulation and oversight” and “some estimate that nearly $400 billion is illegally wagered on sports each year.” 

Former New Jersey Governor Chris Christie, wanting to offer sports betting in Atlantic City, challenged the constitutionality of the federal law, arguing that PAPSA did not apply equally across all states.  After several years of litigation, the Supreme Court ruled in May 2018 that PAPSA did in fact violate the 10^th Amendment and overturned the federal law, opening the door for any state to legalize sports gambling.  

How it works

If you’re a casual sports fan like me, you may think of sports betting as gambling on the outcome of high-stakes games, such as playoffs, strictly in terms of who wins and who loses.  But in fact, people can bet on essentially any outcome, in real-time, play-by play, such as how many runs a certain baseball team will score in the next inning.  The odds are constantly updating, allowing spectators to wager continuously as the action unfolds.  I was surprised to learn that people will bet on teams and people they don’t even know, not just those that they follow, and on all kinds of sports around the world.  While football and basketball are the most popular sports to bet on in the US, many also bet on horseracing, boxing, soccer, tennis, esports, and more.  As Professor Squadron explained to me, the scale of it is so much bigger than most Americans realize.

However, policies, procedures, and tax rates vary state by state, so each state that legalizes sports betting is allowed to do so in their own way (for example, the state of New York does not currently allow mobile sports betting).  There are both in-person locations to place bets (which will likely be inside venues and stadiums in the future), and huge online platforms, such as BookMaker, Draft Kings, and Ladbrokes.

Job Opportunities and Essential Skills

It is likely that we will continue to see major growth in this industry as more states legalize sports betting.  Not only is it a huge revenue source for states through the taxes they collect, but it can also increase fan engagement for current fans and bring in more casual fans.  As a very technology and data driven industry focused on risk management, the major employers (casinos and online platforms) will be looking for data scientists, statisticians, mathematicians, and programmers who can calculate odds in real-time and manage complex online platforms.  In addition, there is also a big interest in sports leagues and media agencies who want to work with these employers, opening up plenty of opportunities in marketing and customer acquisition.

So, who should consider a career in sports betting?  It’s not for everyone, but for those who know and love sports, and also understand the math and technology behind it, it may be a perfect fit.  Professor Squadron expressed that employers are looking for exactly that: the combination of sports knowledge and data/technology expertise.  This field may interest students in the School of Communications, especially sport management, strategic communications, and media analytics majors.  Students in business, math, statistics, or computer science would also have valuable skills to bring to the field.  If you want to go into this business, work on developing two major skill sets: technological (math, data science, programming), and communications (marketing, content creation, business development).  LinkedIn Learning, among other resources, can help you develop these skills.  If this field is of any interest to you, make sure to stay informed on this rapidly changing and mounting industry, and the job opportunities it presents.

So, you want to be an engineer, huh?

By: Rachael Rysz, Assistant Director of Career Services, College of Arts & Sciences 

Engineering, as an industry or major, has been a popular choice among students with strong STEM backgrounds who aspire to enter the field post-bachelor’s degree. In fact, according the Bureau of Labor Statistics, jobs in engineering are growing at a baseline of 4% projected between 2014-2024, with rates as high as 23% for biomedical engineers. Pretty attractive, right?

But there is more to the field than a great starting salary and job growth. The basic premise of the field is the culmination between science and math and how that intersection is utilized to solve problems. That said, there are multiple specialties that anyone interested in engineering could pursue, and it really boils down to function area. Take a look at this recent article for a deeper dive into the difference between function areas, for reference.

At Elon, we have traditionally had a dual-degree program for Engineering, which allows students to spend their first three years at Elon and then two years at an affiliated school, which results in two Bachelor of Science degrees.

Last year, however, Elon launched its first Bachelor of Science in Engineering program, which allows students to stay at Elon & complete their degree in 4 years. A major difference that students here at Elon can expect is that courses will be more structured and there are 3 different concentrations:

1. Bachelor of Science in Engineering – Build-your-own Concentration
2. Bachelor of Science in Engineering – Biomedical Concentration
3. Bachelor of Science in Engineering – Computing Concentration

With a little more context in mind about offerings both at Elon and across the field, the question still remains about what does it take to be successful in the industry, regardless of specialty? A few major takeaways and industry highlights for anyone interested in pursuing a career in the field of engineering are as follows:

1. Start your internship search early. The field is highly competitive and hands-on experience is often valued as early as one can get it.
2. Portfolios are not just for Communication or BFA students! As I have been helping students navigate through the job and internship search, one surprising (but perhaps not so surprising) application requirement was that employers are often seeking a link to see a visual representation of the students’ work. Here’s a helpful link to showcase some examples and highlight more of what goes into a successful engineering portfolio.
3. Don’t undermine the power of projects. One helpful way to show an employer that you have experience without actually having an internship or job experience is to show them that you’ve been dedicated to working on something that interests you outside of the classroom. This not only shows effort but also tells someone that you can think outside the box, which is fundamental to the field of engineering.

If you feel like engineering might be the right pathway for you, I would encourage you to start researching which specific area is most interesting to you and start having conversations early with both faculty and alumni in various engineering specialties of interest.

Soft Skills Driving STEM Careers

By: Rachael Rysz Assistant Director of Career Services, College of Arts and Sciences 

“Robot Skull” by Matt Brown is licensed under CC BY 2.0

In general, when people hear the grouping of the fields of science, technology, engineering, and mathematics (STEM) together, certain assumptions about a student majoring in said fields might be made. I, for one, have a tendency to jump to conclusions that a person pursuing a career in a STEM field would be gifted with an analytical mind. A stereotype of individuals majoring in these fields is that they may struggle a bit when it comes to articulating or conveying certain technical tidbits of knowledge, which may stem (get it?) from having more of a hardwiring for ‘math’ over ‘languages’.

While yes, those pursuing STEM careers very well may be more inclined to knock out an algebraic equation or study cell growth in animals, it certainly does not mean that said individuals do not have communication skills. The reason I bring this up is not to discuss differences in right-or-left brain folks, but rather to discuss the emphasis that employers place on soft skills in STEM careers.

What are soft skills, you may ask? One definition I have come across while browsing The Balance (thebalance.com) really nails it: “Soft skills are the personal attributes, personality traits, inherent social cues, and communication abilities needed for success on the job. (Doyle, 2018, the Balance). Soft skills are difficult to measure but extremely important to highlight, both in-person and on a resume. In fact, the National Association of Colleges and Employers performed a study of the top skills that employers are seeking and communication appeared as one of the top skills for many years in a row!

In my role, not only do I work with students on preparing for jobs and internships, but I also have opportunities to meet with my counterpart and colleague, Beth Mannella, to understand what employers are seeking. In many instances, she has met with employers, such as Global Health Corps, a company based out of NYC, whose mission is viewing health as a human right and building communities to improve health equity. Global Health Corps seeks motivated individuals to fulfill needs in data analytics and systems engineering, but strong writing is needed in each scenario! This is but one of many examples of what employers are looking for, especially in STEM careers.

So how does this all translate? Whether you are a student or professional assisting students in STEM Careers, I have included some tips for strong resume writing that will help in conveying what employers are seeking:

1. Weave your soft skills into bullets on your resume. One of the biggest mistakes that I see on resumes is listing “strong communication skills” or “great customer service” under a ‘relevant skills’ section. While these are great to have on a document, this is not the place for them. When crafting a resume, consider showing or demonstrating that skill, not simply telling someone. An example of a strong bullet showcasing a soft skill in a STEM position might look something like this:

Laboratories, Inc., San Diego, CA                                                                                        May 2017-August 2017

Intern

• Collaborated and communicated results with 6-7 laboratory technicians to ensure proper usage of enzyme immunoassays (EIA’s)

2. Don’t underestimate the power of storytelling. A career advisor at my graduate institution, Carol Balk, once told me to envision an employer watching you do each bullet—how would you want to be seen? This has not only helped me in my own resume writing, but I think it’s applicable for everyone to think about. Would you prefer an employer to see you “Responsible for answering phone calls” or “Efficiently answers phone calls and directs clients to the appropriate party to ensure all lines of communication are covered.”
3. Articulate what you’ve learned in your coursework. In addition to having strong experiences from your work and internship opportunities, do not be afraid to list a class or talk about a class project that you’ve contributed to. This may be your way to combat the whole “getting experience without having experience” notion.

Analytics at Play

By: Rachael Rysz, Assistant Director of Career Services, College of Arts and Sciences 

“Race and ethnicity 2010: Chicago” by Eric Fischer is licensed under CC BY 2.0

This past April, I attended Elon’s Business Analytics Conference held at the SAS Institute in Cary, NC. As I started doing some research and preparing for the event, I must admit I felt a little overwhelmed. Not only are there multiple working definitions of data analytics, machine learning, and artificial intelligence (AI), but there are also many niche contexts in which data analysis is being utilized. For example, one of the presenters discussed using data to assist in tracking virtual crowds on social media platforms! Who knew?

The conference essentially consisted of seven presenters from a variety of different backgrounds and companies discussing applications for analytics in real-world settings. Before I go any further, I think a working definition of data analytics is necessary. Based on many of the presenters’ combined definitions, I would say data analysis is essentially the process of interpreting data such that the information can be as valuable as possible. An example that further emphasizes this point came from presenter Radhika Kulkarni, VP of Advanced Analytics R&D at SAS. Think of a soccer player with sensors assigned to his or her jersey; these sensors relay information about his pace, performance, and rankings. These statistics taken from this soccer player and many others (data) can then be utilized to predict whom the next top soccer player will be. Fascinating stuff, right?

As I previously mentioned, one session that I found particularly applicable to the real world was all about mapping the social phenomena of connections on the internet. The presenter, Marc Smith is a Sociologist and the founder of a product, NodeXL, an add-on for Excel. The product essentially creates visual data of ‘social crowds’ to determine the origin of where a social phenomenon starts and where the followers are grouped by geographic location. Marc showed us the difference between thought leaders on Twitter versus followers and how this product captures an image of what they are finding, which can be helpful in tracking any sort of grouping of individuals.

Gayle Bieler, who is the Director of The Center for Data Science at RTI International, presented the session that I found the most applicable and interesting. In 2014, The Center for Data Science was established with the mission of “improving the human condition.” I found it relatable in my non-analytical brain that a company like RTI would have an interest in public health and social justice-related work. Gayle mentioned that RTI assisted the Durham Police Department in an analysis of tracking arrest-related death articles, which further exemplified the point of using data for good in a tangible setting. Not only does RTI value improving the human condition on paper, but they also practice what they preach in what they look for in candidates: Individuals with an analytical mindset who are collaborative and team-oriented, communicative, great story-tellers, who show a sense of humor and humility, and above-all, have an interest in using data for good.

As a major takeaway, I have learned to appreciate (and not fear) the future of machine learning, especially when it comes to data analytics. If anything, AI is not going to take away jobs, but rather, help increase productivity and contribute to better learning outcomes across all industries!

A necessary skill for ALL MAJORS – MICROSOFT EXCEL

By: Cindy Sweeney, Associate Director of Career Services

“law of nature” by sophie is licensed under CC BY 2.0

So you majored in Philosophy even though your parents asked what you would do with that after college. Or maybe it was Art History, Psychology, English, History, Anthropology, Geography, the list goes on. There are so many pluses to your choice, not the least of which is that it interests you!

You may have heard it before, employers care less about your major and more about your skills. Now if you are a Computer Science major, you’ve got some hard skills you can tout on your resume that may be directly applied to your internship or job. But there are a host of soft skills that matter a whole lot to employers: creative thinking, problem-solving, resiliency and adaptability, endless curiosity to name a few.

All Arts & Sciences majors at Elon develop these skills through their discipline and Elon’s Core Curriculum, but there is one hard skill that I highly recommend for ALL majors…Microsoft Excel. As one of my MBA professors said “it is a powerful tool,” and it certainly is that.

Excel has been around since the late 80’s when it burst onto the software scene, massively better than the competition, and quickly became dominant. It hasn’t been knocked from its perch since then because no one has created something that offers enough new function to warrant ditching Excel and learning something new.

Excel is commonly used for financial related activities but is also very popular among professionals with a science background as it allows them to easily work with statistical formulas and graphing. The flexibility of Excel allows the user to define the structure of information they need to manage. Some organizations use this spreadsheet software to generate memos, track sales trends, mail merge, manage various forms of data not just numbers.

Ok, ok, so it’s great, how do I learn it? There are lots of ways to become proficient in Microsoft Excel. Elon offers an online course that includes Excel:

BUS 211 MANAGEMENT INFORMATION SYSTEMS

Microsoft Office Excel is a rich computer application with impressive analytical capability and more and more businesses, especially those dealing with statistical and financial information, are finding its powers critical to their future success. This course exposes students to some of the advanced capabilities of Excel, including statistical analysis, financial analysis and modeling, PivotTables, scenario tools, a variety of add-ins, the creation of macros, and advanced charts and graphs. After taking this course, students will have demonstrated knowledge of the more advanced features of Microsoft Excel.

This article outlines 11 places to learn Microsoft Excel for free: https://www.inc.com/larry-kim/11-places-to-learn-microsoft-excel-for-free-that-w.html

 Free is great but if face to face instruction works better for you, check your local Community College this summer. In a few short weeks, you can have a certification in Microsoft Excel and a valuable hard skill to tout on your resume.