Hypothetically if a college player is caught for sports wagering, the penalty depends on what they wagered on or in other situations how much their cumulative wagers were and depending on these circumstances the penalty could be anything from no loss of eligibility to total loss of eligibility in all sports ...... I just gave a scenario where what pierre93 said could be true in the eligibility penalty of some athletes caught for sports wagering ,,,,, we will see in 3 games if pierre93 is correct (and remember, we don't know for sure what Hammond's offense was and if it had anything to do with sports wagering).
If Pitt (and not the NCAA) mandated the one year of ineligibility for Hammond then he could potentially redshirt this season and play for Pitt next year ....... if he was found to have violated NCAA rules, then sanctions would depend on what rules he violated and that would determine whether he has any college eligibility left or not.