What a player could win can’t even compare to what a player could lose.

That’s what Colts linebacker E.J. Speed has learned about the NFL’s gambling policy, which despite its strict rules and heavy penalties, continues to trip up players, including potentially Speed’s teammate Isaiah Rodgers Sr.

The fourth-year cornerback was not at the Colts’ OTAs on Wednesday, and he could be absent for quite some time. After previously being present at Indianapolis’ offseason team gatherings, Rodgers’ hiatus was no surprise after news broke Monday that he allegedly violated the NFL’s gambling rules.

The league prohibits players from gambling on NFL games, and players are only allowed to bet on other leagues when they’re not at an NFL facility.

“It’s a hard topic to even speak on right now just because of how sensitive it is around the league,” Speed said. “But right now, I would just encourage anybody: Don’t gamble. It’s not worth it.”

.@kalynkahler interviewed NFL players around the league to ask what they know about the league’s gambling policy.

Four of the five players didn’t know they couldn’t place mobile bets on other sports while at work.https://t.co/jnG3ttfXbI

— The Athletic (@TheAthletic) June 6, 2023

Rodgers is entering the final year of a four-year, $3.4 million contract, with $2.7 million due in 2023. The final season is not guaranteed, so if the Colts release the 25-year-old, he won’t receive any of the remaining money. Rodgers, a sixth-round draft pick by the Colts in 2020, was poised to become a full-time starter this year, and a strong season could’ve helped him earn a more lucrative second contract. But now his future with the Colts and in the NFL could be in jeopardy.

Speed and tight end Kylen Granson said the gambling rules have been taught, explained and reiterated every year they’ve been in the NFL. There are signs in the Colts’ locker room, reminding them of what’s at stake. A league representative visited the Colts this week to discuss the topic, and the yearly trip was planned prior to Rodgers being investigated.

Granson said he doesn’t indulge in sports betting, and he doesn’t plan to start. Neither does Speed.

Jaguars wide receiver Calvin Ridley was suspended for the entire 2022 season after betting on NFL games when he was still playing for the Falcons in 2021. Former Lions wideout Quintez Cephus and safety C.J. Moore bet on NFL games last season and were suspended for the entire 2023 campaign and subsequently cut. Commanders defensive end Shaka Toney also bet on NFL games in 2022 and will be suspended for at least one full year.

“They’ve been making examples out of people,” Granson said.

Colts head coach Shane Steichen didn’t offer much on Rodgers’ status. He was asked directly what the plan is for Rodgers if he can’t be around the team and whether he’d spoken to the cornerback, but Steichen declined to give any details.

“I’m sure you guys are going to have some questions about the gambling issue,” Steichen said, not mentioning Rodgers by name. “All I’ll say on that is it’s an ongoing investigation with the NFL right now and we are constantly … educating our players, educating our coaches on the situation. Beyond that, I will have probably no further comment going forward.”

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After Stephon Gilmore was traded to the Cowboys earlier this offseason, Colts general manager Chris Ballard said at the NFL owners’ meetings in March that Rodgers is someone he thinks “has a lot of talent” and suggested that he could step up and help fill Gilmore’s void. However, if Rodgers misses an extended period of time, it would further deplete an already thin and inexperienced cornerback room. Seven-year veteran Kenny Moore II is the only cornerback on Indy’s roster who’s started a full season.

Rookies Julius Brents (wrist surgery) and Darius Rush (hamstring) could have more opportunities to become Day 1 starters, but both were sidelined during Wednesday’s OTAs. Moore and second-year cornerbacks Dallis Flowers and Darrell Baker Jr. were the three starting cornerbacks during team drills. Flowers showed promise at the end of last year, but he’s only started one game and Baker never has.

“I think any time something like this comes up, you’ve got to push it aside and move on,” Steichen said.

QB competition 

Gardner Minshew was QB1 again Wednesday, marking the second straight week that he received all of the first-string snaps on a day when media members were in attendance.

Steichen dismissed the idea that rookie Anthony Richardson has fallen behind. The Colts’ coach said at the beginning of OTAs that Richardson and Minshew would split time as the starter and that philosophy hasn’t changed.

“I think just the last couple days you guys have been out here, it’s happened to play out that way,” Steichen said. “So, if you guys are here tomorrow, it might be different. Gardner is doing a nice job. Anthony is doing a nice job. It’s been good.”

Reporters are not permitted to attend OTAs on Thursday, but during Wednesday’s session, Richardson had the best throw while Minshew had the best day. The rookie ripped a roughly 60-yard touchdown pass to newly acquired veteran receiver Breshad Perriman during 11-on-11 drills. The throw had impeccable touch and timing as the ball cleared the outstretched hands of second-year safety Nick Cross and dropped into Perriman’s hands.

“It was great,” Steichen said of the play. “Obviously, adding Perriman, a speed guy, (Richardson) just threw a deep ball on a deep corner route there. He threw it, he layered it nice and hit him in stride for a big play. It was really good to see.”

Richardson was 5-of-9 passing during 11-on-11 drills and 3-of-7 during the team’s two-minute portion, which was really less time than that. The ball was placed behind the 50-yard line with one minute, 10 seconds on the clock. According to Steichen, the scenario was that Indianapolis was trailing by seven points and needed a touchdown and extra point to tie the game.

Anthony Richardson came right back and ripped this intermediate throw into the net. #Colts (My apologies, the video didn’t upload the first time.) https://t.co/8heSqvc1Lp pic.twitter.com/9KywPiKIm3

— James Boyd (@RomeovilleKid) June 7, 2023

Richardson completed a pass to Mo Alie-Cox for a first down, missed a short throw to Alie-Cox on the next play and then threw a near-pick to cornerback Tony Brown across the middle. On third down, the rookie bounced back with a dart to Malik Turner down the sideline for a first down. Two plays later, Richardson missed Vyncint Smith in the end zone, throwing it too short into the turf.

On the Colts’ last possession from the 2-yard line with a few seconds remaining, Richardson threw another near interception across the middle to Brown in the end zone.

“One of the biggest transitions for a rookie quarterback is the red zone,” Steichen said. “You’ve got that back line, the field condenses, the windows are going to be tighter and really it’s getting those reps down there, being smart with the football and knowing when to take your shot and knowing when to throw it away. … He’s done a nice job so far. Obviously, everyone has their ups and downs, but you keep fighting through those things.”

Minshew was 9-of-11 passing in 11-on-11 drills and 5-of-7 during the two-minute portion. He completed four checkdowns to Zack Moss, nailed Michael Strachan on a crossing route for a first down and even scrambled for a first down to help set the Colts up at the 4-yard line with a few seconds left.

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But just like Richardson, Minshew couldn’t complete the drive. The five-year veteran had Ashton Dulin open in the back of the end zone but one-hopped it off the turf. As the defense celebrated, Minshew, who’d fallen to the ground, slapped the field in frustration.

“We’ll see how that plays out,” Steichen said, asked if there’s a sweet spot this offseason for when he’ll commit to a starter. “Once we get going into camp, obviously we’ll have a plan for that and see how it starts to play out and then we’ll go from there.”

Injury updates

Colts linebacker Shaquille Leonard (back surgery) was at OTAs but remains a spectator. The four-time All-Pro took a knee on the field to watch the defense go through team drills and shook hands with Flowers and Rodney Thomas II between reps, but that’s as close to the action as he would get.

Speed’s confidence in Leonard hasn’t wavered, and he stressed the importance of Leonard’s presence as he continues rehabbing.

“Shaq is our leader. He’s always been our leader,” Speed said. “He’s leading, whether he’s on the field or off, and when we get him back, he’ll be back out there leading just like he always is.”

As previously stated, Brents and Rush joined Leonard on the sideline. Running back Jonathan Taylor (ankle surgery), wide receivers Michael Pittman Jr. (hip) and Josh Downs (knee), tight ends Jelani Woods (hamstring), Drew Ogletree (ACL recovery) and Will Mallory (foot), and punter Rigoberto Sanchez (Achilles recovery) remained out as well.

Second-year wide receiver Alec Pierce was a new addition to the injury report, but Steichen said it was a minor foot issue that Pierce could’ve practiced through. The team opted to rest him instead.

(Photo of E.J. Speed: Michael Allio / Icon Sportswire via Getty Images)