Option 2:

Of course I would do it! Opportunity of a lifetime!
If the pay is good, it's worth the risk. But doing the play by play of a sport I don't know at all is a risky move. So I will study at least the rulebook of the sport to know at least what the players can/should do and what they cannot.
I don't have to learn the players names, will go with their jersey numbers or will find a way to describe the player without "cancelling" myself. Some sports have a list of the players names with their jersey numbers so that will help and by the time the game will be over, I will surely have remembered them. 
Twelve hours is not a lot, but during the flight I will be able to watch some highlights of yesterday games to get a feel of what the sport look like.
Will try to not make a fool of myself, but should be a cool experience!