Positives Coming Out of the Sports Shutdown
Author: Mike Adorno, VP of Communications
The sports shutdown of March 2020 will be a pivotal moment in the history of the United States. As the one year anniversary came and went, it’s easy to look back and focus on the negative – loss of fan engagement, loss of revenue, having to watch and bet on Ukrainian table tennis.
While the shutdown of sports in America was a terrible moment for all involved, there have been some positive results that are just beginning to play out. I asked a number of sports business and sports betting journalists for their hot takes on the positive momentum coming out of the shutdown.
The main underlying theme from this expert commentary is that the shutdown allowed companies to sit back, assess the situation and utilize the time to innovate, whether through technology innovations, financial realignment or strategic partnerships.
“Businesses had to pause and think about their next steps. Taking a break from live events and the pressure that comes with it, (we saw how tough it was for the books to cater for the demand during (Super Bowl), gave the industry a chance to regroup and for business to get their ducks in a row. Several startups took leaps forward during the last 12 months, developing interesting technology and fine-tuned their USPs while laying the foundation for the next surge in sports betting action that we are likely going to see on all fronts during 2021.”
-Manuel Martinez, Editor at US Betting Report
“The shutdown period forced sports & sports betting companies to take a hard look at their business model, and in many cases add processes & changes that will better their position for years to come.”
-Ryan Knuppel, CEO of Knup Solutions
“I believe that one of the best ways to gauge how your business or industry is doing is by looking at the quality and quantity of non-endemic companies or individuals who are trying to partner with you and your colleagues. One of my favorites is the Buffalo Wild Wings-MGM Resorts partnership that earlier this month expanded to its 6th state. The BetMGM app uses geolocation technology to offer custom promotions and bet types for guests who are physically inside a BWW in select markets. Additionally, I expect that the physical designs and technologies that will be used inside the in-venue sportsbooks, such as William Hill’s space at Capital One Arena, will carry over in ways we can’t foresee to improve the gameday experience for non-betting fans.”
-David Broughton, Research Director at Sports Business Journal