Bet It’s Going to Be a Game Changer
Anyone who knows me knows that I do not enjoy watching sports on television. I will, however, go to a game but it’s only to enjoy a margarita or two and if I’m lucky I’ll have a good conversation. I’m not one to watch the game. However, if it involves marketing, I’m all in!
Recently the U.S. Supreme Courts’ decision to strike down the federal law prohibiting sports gambling offers a unique opportunity for myself (as a marketer and entrepreneur), and for others in the marketing world. It will take several months, or even years before this lifted ban circulates throughout the U.S., starting with New Jersey, then working its way to the West Coast. Bets will first have to be placed at brick and mortar establishments, but there are hopes of expanding bets to mobile in the near future. Ironic considering that is how marketing has already gone.
It seems that fantasy sports platforms such as DraftKings and FanDuel, are going to be cashing in big-time on this Supreme Court ruling. Today’s article in the Boston Herald “DraftKings was ready for Supreme Court decision” explains that the company was already way ahead of the game, “building our sports betting platform since July 2017”, says CEO of DraftKings, Jason Robins. I think, this was a pretty genius strategy run by Robins, as he knew brick and mortar sports betting would be run by state casinos. However, going mobile would allow him to get a piece of the sports betting market, and maybe even a bigger chunk. He is not concerned with competition and stresses this ruling will be beneficial to all, “This is a new market that’s about to emerge,” he said. “The tide will lift all boats.”
Being a Marketer is not only about marketing the things you personally find interesting but being able to sniff out uncommon opportunities. Although it is very early in this whole process, and will likely see much more regulation, it will be interesting to see how each state models their sports gambling culture. Nevada, the only state allowed full betting sports options, was able to rake in $4.8 billion just in 2017. The way they modeled their sports betting culture is something you would expect in Las Vegas. Booze, slots and hundreds of T.V.’s are playing different sporting events inside their billion-dollar casino. I am very interested to see if other states follow Nevada’s blueprint, or if they will create their own blueprint contingent on what makes their state and culture unique.
Nonetheless, this is a brand-new opportunity for 49 states. Like with any new idea, it will require heavy marketing in order to get the public on board. It would be wise, as a Marketer, to get familiar with this juncture, as it will take each state by storm one-by-one. Sports betting is a revolutionizing campaign that will depend on new ideas and strategies to succeed. Maybe even a whole lot more margaritas…