They may well be a bit touched mentally. That aside, sports keeps those watching occupied and entertained. Sometimes happy, sometimes not.
The players receive a salary. Each team has several employees aside from the players. They too receive a salary. All of this spreads out into the world and the economy is stimulated. Helped.
Additionally, there are stores that sell merchandise related to the various teams and players. Employees receive salaries.
Other stores and entrepreneurs, are near stadiums and arenas and rely heavily on those coming to see a game. More money, more salaries.
If sports cease existing, billions of dollars cease entering into the economy. Economic collapse might take place.
It is similar to oceanside and beach resorts. If the summer is cold, rainy and gloomy, the assorted businesses fail.