Netflix in my experience carries the things that have been released to DVD. Movies are a month after the initial street date and tv epsiodes are available slightly sooner but it is not the current showings that are airing now. Once available, you can stream them to your computer/wii/ and other things or order them through the mail depending on how they are offered as somethings are streamable and others are only available mail order.
I am not familiar with what is available for sports as I still watch these events live. Knowing that it is only what has been released for episodes and DVD's, I'm not confident in that it would be what you are needing. You should be able, as a guest, to go in and look around to see what they offer without signing up. I did so before doing it but that was 2 years ago, perhaps you still can.
Our movie store closed and the rates through the cable company are astronomical. There is a delay from the release date as a compromise but for the price, Netflix has been a lifesaver.
However, it cannot replace live tv for me however. I'm not sure a way around this other than to check other satellite carriers and recheck cable rates if offered in your area, might be cheaper. My neighbor figured out it was cheaper in the long run to buy his own dish, though not always a financial or practical option depending on one's situation.
Good luck.
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