Mayweather and the Kentucky Derby with The Business of Sports

This was one of the most anticipated sports weekends in memory. The Mayweather vs. Pacquaio fight was an event that was five years overdue. While the fight was not as epic as some of it predecessors from the previous eras, this was the highest grossing fight ever. Customers paying $100 for a pay per view event is unheard of. Delaying the start so more people would be able to order the event is something unusual. The collaboration of HBO and Showtime was unique in that they evenly plugged the event with the announcing of the fighters and promoting future broadcasts. Mayweather gave a shout out to one of his sponsors, Fan Duel, after the fight.

The celebrities at the fight included Tom Brady, Beyoncé and Jay Z, Bradley Cooper, Charles Barkley, Mary J. Blige, Denzel Washington and Mark Wahlberg.

Brady at the Fight

Beyoncé and Jay Z arriving at the Fight of the Century!

The day started for most sports fans with the Kentucky Derby. This year had a field of 18 horses with the odds ranging from 3-1 to 99-1.

The winner was the favorite American Pharoah. This horse is train by Bob Baffett and is his fourth derby winner.

American Pharoah wins!

Number 4 for Bob Baffett

 

Churchill Downs Saturday's Kentucky Derby was  a first—because the bettors were able to bet money on the race from an iPhone app. Add that to the estimated revenue of  over 400 million for ticket sales and the amount wagered on the race exceeding 120 million.

This is the big business of sports. Events that people will fly to, dress up for, get hotels room and party afterwards. They also talk about these events on social media. Now they bet on them thru their phones. Technology takes the event to unprecedented levels. No matter the outcome, you can connect to and be a part of it. I love it. Tell me if you do.

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Fantasy Sports Betting: Skill or Chance?

 

 

I watched Real Sports with Bryant Gumbel this week.  This segment, the HBO award winning series  goes in depth on whether fantasy sports betting is  gambling or a skill. The way fans play today is not

your father's fantasy sports. 

 

 

The old version was pick a join a league of friends, select players for your team, pay your league fee and play a schedule of games. If you  have the best record at the end of the season, you won the lion share of the money collected. Much different now.

 

Today millions of dollars is wagered daily by people that don't know each but operate under the original fantasy betting premise. When the day's games end the winner gets the money minus a 10%

handling fee. The players today use data and analytical spreadsheets to determine their selections. That why the question of skill versus risk comes in. The comparison of today's player to a day trader on Wall Street come to mind. Yesterday's player would be an avid fan of the sport or a particular athlete. Past performances, weather and time are all considerations when picking a fantasy team today. As of this writing, over 30 million people play fantasy sports. Football and Baseball are the two most popular games.

 

This is still gaming but with sophistication. Formal gaming that includes the lottery and slot machines tend to appeal to a clientele that has less funds and limited game awareness. Informal gaming such as sports betting and fantasy wagering requires more money and greater knowledge of  the game.  Any way you look at it, this is a billion dollar business about to explode. Mobile gaming and the legality of wagering on sports in New Jersey make fantasy a money making reality.

Follow me for more insight during G2E 2014 week.

 

Learn more about online gaming and how it can shape your future entertainment experiences.

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