"sport" is defined as COMPETITIVE physical exertion
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I agree with you on this, but of course, like many things in this world, "sport" is being redefined so that fatties, geeks, retards, etc., can also say they participate in a "sport." ESPN showcases hot dog eating contests and spelling bees as "sports," so I suppose it's only natural for some to view chess, video games, Candy Land, circle jerks, etc., as athletic events.