Convergence of Sports, Entertainment and Gambling
In recent months, much speculation has been made about the convergence of sports, entertainment and gambling, and a good example of the power of this convergence can be seen in the British football club, Wrexham AFC.
In November 2020, movie and TV stars Ryan Reynolds and Rob McElhenny (entertainment) took over the Wrexham Football Club in Wales (sports), and within around a year and a half, launched a streaming series Welcome to Wrexham(entertainment). Now in its fifth season, the series has posted 50 episodes and is currently the 86th most popular streaming show according to televisionstats.com.
This merging of sports and entertainment has had a significant impact on related sports betting (gambling). Notably, the betting company Entain reported in 2023 that wagering activity on Wrexham games increased 781% in Australia and 3818% in the US, mind-boggling numbers.
In another example of sport - media - gambling convergence, F1, an admittedly more obscure sport, has seen significant but lower increases in betting activity since the launch of the Drive to Survive streaming series. The lower increases could be due to the lack of a certifiable international star like Ryan Reynolds holding up both the sports and streaming franchise, but the increase in betting activity is a good example of how an increase in media awareness can drive interest in a complementary industry.
In the U.S., shows like Hard Knocks have found footing and support leveraging the incredible NFL sports and entertainment juggernaut, but since the NFL already drives outsized wagering activity and Hard Knocks acts as one minor part of a well-oiled machine, it remains to be seen whether the show will have a significant impact on the gambling or entertainment verticals.
The lesson: opportunities abound for sports teams, entertainment icons and betting platforms to collaborate. Beyond sports betting, bringing star power to a land-based property can drive foot traffic as well: last year’s Super Bowl in Las Vegas was only the tip of the iceberg, and this year’s Super Bowl in New Orleans again demonstrated how land-based operators, media and entertainment superstars and sport created a powerful converged entertainment experience.
A successful model is emerging. Entertainment figures, brands and distribution channels partner with sports leagues and franchises which then partner with sports betting platforms and gaming destinations to drive awareness, customer engagement and revenues to each leg of this three-part stool. This self-reinforcing loop is only just getting started.
