How NFL teams mistake the values of their draft picks

Learn how the NFL Draft works

Teams select players in a set order over seven rounds, with the weakest teams from the prior season picking first. Picks can be traded, and teams that lose free agents may receive additional compensatory picks.

Watch ten surprising moments from the NFL Draft

The NFL Draft often delivers as much drama off the field as on it. Watch this countdown of the top 10 wow moments in Draft history, featuring infamous prospect slides, a missed pick, and surprising trades and selections.

The NFL held its first draft of college players in 1936

The NFL draft is a three-day spectacle with wall-to-wall media coverage and months of speculation about who will go to number one. But it wasn't always like that. The early days of the draft were done on a chalkboard and created a need for professional scouting departments.

Watch the evolution of the NFL Draft

The NFL Draft evolved from a small group of team representatives huddled in a Philadelphia hotel ballroom in 1936 into a three-day primetime spectacle that regularly draws over 500,000 fans and 13 million TV viewers. Explore how it became the event it is today.

NFL Draft decisions are shaped by brain science, data, and office culture

Carnegie Mellon researchers say Draft-room choices are influenced by the "jackpot effect"—where higher stakes can impair performance—as well as by groupthink, the limits of data, and whether scouts feel safe speaking up.

Hosting the NFL Draft comes with hidden public safety costs

The economic upside of hosting the Draft—Detroit reported $214 million in impact in 2024—depends on months of behind-the-scenes work. Coordinating law enforcement, emergency medical services, and traffic control entails real public costs that rarely make the headlines.

The final player selected in the NFL Draft is called 'Mr. Irrelevant'

A tongue-in-cheek tradition started in 1976; the distinction has become a celebrated moment, complete with its own week of festivities in Newport Beach, California.

The NFL is so successful because it is perfectly suited for television

The predictable weekly cadence of football games ritualizes the experience of watching together, and their relative scarcity makes every game meaningful. With the stop-and-go play of the sport, there are predictable, repeating stoppages to allow broadcasters to sell lots of advertising inventory. The league sits in the sweet spot compared to MLB (many games) and NBA and soccer (continuous play with fewer ads). This Acquired episode distills fascinating insights into the NFL's business and history.

David Stern reimagined the NBA Draft to make it more competitive

When David Stern took over as commissioner in 1984, he watched multiple teams lose on purpose to get the top pick in a stellar draft class. The next season, Stern changed the process to a lottery, where every nonplayoff team has an equal chance at the first pick.

The NFL is the most valuable sports league in the world

NFL teams are worth a total of $228B. Each team holds an average value of over $7.6B, almost as much as the NBA and MLB combined. The Dallas Cowboys, valued at $12.5B, are the most valuable sports franchise on Earth.

The decline in value of the NFL running back

Running backs long held the role of superstar on NFL teams, carrying their team down by down to the endzone. Their salaries reflected that importance as well. But in the last 30 years, front offices and fans have taken more to the quarterback instead, who receives much higher salaries. This podcast episode breaks down the economics of the turn in the game's focus from rushing to passing.

Fantasy football is a head-to-head game based on NFL stats

Competitors draft players from across the NFL, then earn points for their real in-game achievements, like touchdowns, receptions, and interceptions. The team with the most points in a given week wins.

The general public cannot buy Super Bowl tickets at face value

The NFL controls every Super Bowl ticket, distributing none through a general public sale; after allotments to teams, players, sponsors, and the league, only about 11,600 tickets—roughly 16%—are available to fans at face value, mostly via team lotteries.

'Scorigami' attempts to chart every NFL game score

The rules of the sport set bounds on possible final outcomes, so this adept statistician mined some fascinating takeaways. Some scores are impossible (like 5 to 1) and some are more common (like 20-17, occurring over 300 times since 1944). Watch for a deluge of numbers.

The prices on prediction markets reflect how the collective forecasts future outcomes

On prediction markets, bettors bid up or down the price of contracts based on what they expect an event's outcome to be. Bettors bid up prices when they think an event is more likely to occur than the current contract price shows, so they buy the contracts, pushing the price higher. They bid down prices by selling these contracts when they believe an event is less likely to occur, driving the price down due to supply and demand.

The 2011 film 'Moneyball' shifted ideas about sports and statistics

Based on the Michael Lewis book of the same name, the film starring Brad Pitt depicts the attempts of the 2002 Oakland A's to leverage data analysis to overcome their low-budget woes ($41M) and compete with big-budget teams like the New York Yankees ($125M). Other sports and leagues, including the NBA and NFL, would adopt a similar logic: find what the market undervalues and exploit it.

The World Football League, the most disastrous sports league ever

In the mid-1970s, a group of investors attempted to compete with the dominant National Football League. This short video highlights the league's intriguing innovations and speedy downfall. The investors dubbed their project the World Football...

How math whizzes exploit sportsbooks

Chris Dirkus is a professional sports bettor who approaches the hobby as a math problem, not from a fan's perspective. He focuses on mispriced odds in popular games where many fans are betting for high liquidity. He's one of a rare segment of sports bettors exploiting slow models and human mistakes.

The value of a trademark is just one element of brand valuation

Brand valuations give companies an idea of how valuable assets, like logos, are to the company and can help determine how much money branding departments should receive. Typically, brand valuations are a compilation of brand awareness metrics, like a consumer's willingness to pay, the value of a trademark, and the company's market position.

Several NFL teams incorporate yoga into their training

Although brawny football players might not seem like obvious yogis, many of the NFL’s athletes have taken to the practice for flexibility and mindfulness. Several teams, including the Los Angeles Chargers, Cleveland Browns, and Dallas Cowboys, make the practice a part of their conditioning routine.

Free agency dramatically changed player compensation

When team owners created the reserve clause in 1879, the idea was that each team would control player salaries rather than the open market. After the 1975 elimination of the reserve clause, players became eligible for free agency after a contract expired, increasing wages across the league.

It's tough to measure just how much the global commodities market is worth

That's partly because of all the different ways and places commodities are traded—such as futures exchanges, spot markets, and over-the-counter deals. Additionally, the same commodity can be traded multiple times in different markets, making it easy to risk duplicating trade values in calculations.

MLB teams can travel with roughly 12,000 pounds of gear and luggage

Each of the league's 30 teams has travel directors facilitating intricate logistics to move players and luggage to the next city, often after a game and the night before another game day. This video breaks down the wild planning required.

NFTs are unique assets that exist on the blockchain

This SNL skit accurately defines non-fungible tokens in a song and skit. They are cryptographic tokens that represent digital assets like art, and their value can be volatile.

Five mistakes experts see people make with 529 plans

In this podcast, financial experts review the top five mistakes investors make when it comes to this education investment vehicle. Some mistakes are true for all investments, such as periodically checking for new rules and regulations. Others focus on 529 plans and how to get the most out of them.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The 1987 Nintendo video game 'Stadium Events' isn't known for being particularly fun, but its scarcity has made it a highly sought-after item that has sold for up to $35K at auction.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Indefinite cloning of some endangered species may not sustain their longevity because cloning success rates decrease as genetic mutations accumulate.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Watch how algorithms can be designed to train themselves and self-improve without human input, to the point where the optimized code is too complex for programmers to understand.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

Use this calculator to find the dollar value of your mental load, from meal planning to coordinating after-school care for your children.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

Watch how deep-sea mining equipment collects and processes polymetallic nodules—metal-rich, potato-shaped rocks—from the ocean floor and creates environmentally damaging plumes of sediments.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

Listen to an in-depth conversation on the links between Parkinson's disease and herbicide exposure and the challenging pace of scientific investigation.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.