Major sporting events can be a big revenue driver for many local businesses and casinos are no different. There are many ways in which major sporting events can impact casino revenue, from an increased volume of foot traffic to event hosting opportunities to providing offers for guests to extend their stays. Running a casino means always thinking of new ways to bring in revenue, and hosting events related to big sporting events in town is one of the best ways to do it. To better understand the impact of major sporting events on casino revenue, take a closer look below.
Increased Foot Traffic
Tourism Boost
Major sporting events that only take place once a year or once every few years bring in large crowds from around the country and around the world. That means your city will be filled with tourists who are there to enjoy the sporting event but are also looking for other forms of entertainment. As people explore the city they are visiting, some will inevitably end up checking out the local casino. Big events like the Super Bowl or the Copa Americana transform cities like Las Vegas and Miami, which have a lot of casinos. Because of this, casinos should always find creative ways to attract tourists during these high-volume times.
Promotional Opportunities
To bring the crowds in during big sports weekends, casinos can offer special-themed promotions related to the sporting event. This will allow sports lovers to continue celebrating long after the event is over. Some ways to do this are to offer discounts on real money casino games or create tournaments between rival team supporters. This encourages some healthy competition and can bring new customers in who want to support their sports team while also trying to win some money. These kinds of promotional events will inevitably lead to customers buying drinks and having food while they play, bringing in extra revenue that the casino wouldn’t get on a normal day.
Sports Betting
The world of sports betting has never been more popular as modern technology is being integrated into the formula. Casinos that offer sports betting opportunities during a major local sporting event can see a large increase in revenue.
Increase in Legalization
Until recent years, sports betting was not legal in many regions, but that has changed. Now, with new laws allowing sports betting, casinos all over the country are being bombarded by bettors. This is significantly increasing revenue and keeping physical casinos in business. In cities where casinos are allowed to take sports bets, people will flock to the casinos in the hours before any big sporting event to place their bets. This offers them the opportunity to grab a drink with friends after their bets are made and hang out before the game begins. This not only brings in money from bets but also revenue on beverages that would not have been accrued if normal people weren’t allowed to come in and place bets.
Live Betting
This relatively new concept of betting entails people being allowed to make bets mid-game. It is growing in popularity as bettors can make predictions about game results or other types of outcomes as the game unfolds. For those who enjoy this kind of fast-paced betting style, casinos offer a refuge where they can sit and watch the sporting event on a big screen and then walk up and place bets whenever they want.
As it is known, when people watch sporting events, then eat and drink, so if casinos have restaurants with big televisions, they can end up packed to the brim with enthusiastic bettors. Having customers in the casino for the length of a game or match means bringing them rounds and rounds of drinks, leading to higher revenues.
Sporting Event Hosting Opportunities
Transforming a casino space into a viewing space for certain sporting events can bring in a whole new demographic of people and get the word out about the services that a casino can offer.
VIP Packages
Offering VIP packages to frequent customers who are likely to spend a lot of money on gambling can encourage them to come back and even bring friends. An example of VIP package goodies includes gaming credits, casino restaurant vouchers, and bottle service. These bonuses appeal to big spenders and will get them to come back again and again to reap the benefits while also spending a lot of money on other aspects of the casino.
When big sporting events happen, these packages can be offered to players on the sports teams who want to relax and unwind after the game or match is over. This brings a celebrity influence into the casino and gives the casino a good name for hosting such important sports players.
Viewing Parties
For big crowds who maybe didn’t get tickets to the sporting event venue, hosting viewing parties at the casino is a great way to get people through the door. They can watch the sporting event while also playing gambling games and even stay for hours after the sporting event ends because they are having such a good time. This means racking up big bar tabs and betting more and more on gambling games, especially if their team wins and they think they are having a winning streak.
Marketing and Branding
Brand Exposure
Being a sponsor of any sporting event is a great way to get a casino’s brand out there. If thousands of people are watching a major sporting event and they see advertisements for the casino during commercial breaks or they see the casino’s logo courtside, they will associate that casino in their brains every time they are thinking about having a fun night out.
Loyalty Programs
Everyone loves a loyalty program, especially if the benefits are good. Starting a loyalty program and offering it to new customers who come in during major sporting events to watch or bet will encourage them to come back for the next one or whenever they feel like blowing off some steam.
Although the association between sporting events and casinos is not immediately obvious, hosting a major sporting event can change the economy in a city, especially in establishments like casinos where people can place bets and blow off steam after a big win or a big loss.
