I have been able to teach my kids about football, basketball, baseball, and hockey thanks to playing them in sports video games. Both of my kids now have a good understanding of the sport, rules, etc. In fact they will watch a football game and point out holding that the refs miss.
It has also taught them situational strategy, and opponent tendencies. They know on 3 and 1 I like to pound the rock right up the middle. So it makes me shift my strategies since they know the plays I like to call in certain situations. The reverse is true, they have learned to adapt what they do because I can counteract it. All in all it is a lot of fun. As a parent I am proud when they can beat me without my slacking off (letting them win).