Make it interesting and immediate thinking lead to a tendency of people to bet for something to happen. The 2020 Big Game, for example, offers a chance to bet if a fumble is lost in the second half ( No, -150). Props, Murray said, were invented to make blowouts interesting. With the upcoming Big Football Game, recreational bettors in Las Vegas and other states will start to make prop-bets. Walk into any high school and you’ll hear students protest a fill-in-the-blank test when they expected a multiple choice version. Deciding on this or that is much easier than coming up with a list of options. People are pretty terrible at weighing opportunity cost. The Big Football Game offers a chance to think about decision making and our bias to thinking that something specific will happen. Rather than simple narrative answers, the true answer is some version of, well, it depends. On Bet The Process, Rufus Peabody, Jeff Ma, and John Murray of the Westgate Casino talk honestly about betting. Your random fact of the day: Only two college bowl games sold out last year (2019/2020) (45:45). One thing that SSAC offers is the chance to hear from people on the ground who may not often speak about their experiences.
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Teams like the Orlando Magic are offering this, buying back unused tickets for full face value and allowing that money to be used in the gift shop, concessions, upgrading future tickets, or special events. What some customers want is not one visit on each trip to the airport, but one visit on some trips and a family pass twice a year. One growing request from customers is something Rory Sutherland calls this the airport lounge problem. Dodgers season ticket holders said the biggest benefit was the person checking them in at the premium station knowing their name, and how that impressed the clients they were with.” The best returns on an investment are the ones with the smallest cost, intangibles are often just that.Īre there latent needs, part 2. What are the intangibles? “There’s a lot of pride in being a season ticket holder.” “There’s a great benefit to saying, ‘I was there.'” “A lot of the L.A. Patrick Ryan suggested teams talk to the ushers to hear what the fans are saying-not necessarily what they are asking for. “Teams and venues have always had to recreate what the fans are looking for,” said Sine.
It’s a question of, what are they hiring me to do?Īre there latent needs? When asked if the season ticket is dead, one panelists wonders if they were ever alive. So you’re kinda servicing the same person,” explained Bernert. Who is your customer? “When you look at the data, an account holder for a full season goes to thirty percent of the games, the half season buyer goes to about sixty percent, and the quarter buyer goes about eighty percent. The successful teams will head back to ‘first principles’ and re-focus on revenue. A few highlights.ĭo we measure what matters? When asked what the opportunities are in the industry, Sine said, “going from season ticket units to revenue which keeps the lights on.” We can imagine a time when season ticket sales were a good proxy for revenue but with the secondary markets, public spaces, and better televisions at home people go to games less.
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At SSAC20, Rob Sine, Adam Grove, Kristin Bernert, Patrick Ryan and Shira Springer spoke about ticketing in professional sports, among other areas.