In an experiment (Gerard, 2004) conducted to study muscle damage and repair, 20 males ran for 35 minutes on a downhill treadmill. The participants, who were not trained runners, were pre-treated with deer antler velvet or a placebo 14 days prior to the run. The subjected treated with deer velvet showed that their creatine kinase levels, a marker of muscle damage, was significantly lower than the control group. Also, muscle soreness on average was reported to be gone 24 hours before subjects in control.
Some people use deer velvet to increase levels of certain sex hormones (estrogen and testosterone), improve fertility, increase interest in sexual activity (as an aphrodisiac), and treat male sexual performance problems (erectile dysfunction, ED). Women use deer velvet to reduce the dose of estrogen they need in hormone replacement therapy. They also use it for menstrual and menopause problems, vaginal discharges, and uterine bleeding.
S.W.A.T.S. Fitness and Performance was a dietary supplement company that sold deer antler spray and other products. The owners began distributing their products to NCAA and NFL athletes in 2008. The controversy initially started in March 30, 2009 when Alabama athletic officials sent a cease-and-desist letter to the company's owner that stated: "Refrain from using current student-athletes to endorse products. Refrain from contacting current student-athletes. Refrain from giving or selling products to current student-athletes."  The letter was then sent again in 2012.
Deer velvet might have an effect due to the hormones it may contain, including testosterone, androstenedione, and dehydroepiandrosterone. Research in rats, using elk velvet antler, suggested the substance may have an androgen-like effect. The antlers are ground into powder, which people take by mouth. Dosage varies by brand, but a recent study used 215 mg per day. Some distributers, though, recommend dosages ranging from 250 mg to as high as 3000 mg (3 g) per day. So talk with your doctor before you start using deer velvet.
Bottom line: Rogol says it’s “extremely unlikely” that deer antler in any form could offer athletes a boost. “Deer antlers do contain growth factors,” he explains. But it’s a huge leap of faith to talk about an extract doing anything beneficial for human beings, whether it’s slowing aging, developing muscle, or repairing tendons, he adds. Opinions like Rogol’s are one reason the FDA and anti-doping agencies haven’t yet taken steps to ban deer antler products that contain IGF-1.
The product smells like lemon-scented cleaner and bears a resemblance to murky pond water. I hesitantly tried the stuff and found it surprisingly palatable, with a lemon taste, but not too sour and slightly sweet. The directions say to take 14 drops under the tongue, three times a day, but I stopped after one dose — so I probably don't have a good chance of reaping the benefits, if there are any.