Electronic Bingo Players

There were many factors that contributed to NFL players losing a large portion of their wealth to financial investors. The NFL players association (NFLPA) provides their players with a list of financial advisors. These advisors pay a membership fee and the league supposedly puts candidates though an extremely intense background check. Unfortunately for many NFL players, they started working with a financial advisor that caused many of them to lose large amounts of money in investments. The plan was to have NFL plays invest in a casino resort in Alabama that would make its money off of electronic bingo games. It was estimated that the bingo games would bring in about $100 million a year. Instead the investment fell through with no profit …show more content…
These athletes assume these advisors are looking out for the athletes’ best interests, since there are on an approved list provided to them by their own players association. Many of these players are looking to makes investments to provide for themselves after football. These NFL players’ careers are often short and they will need to find a way to bring in a salary when they are not on the field. Although the players association is trying to help their players, they haven’t kept up with their services. Their list of financial advisors is not up to date. There is an advisor listen who recently died in a plane crash, but his information is still listed as an approved financial advisor. The players association is making their players even more vulnerable because of their inability to keep up with their list of financial advisors. These players are also very vulnerable because of their large pay checks. This allows these players the make larger, riskier investments. With these larger investments, players are expecting to make a great deal off of the investment. Unfortunately many of these players are being taken advantage of and are losing large amounts of money instead of making large amounts of