Maryland entered into the sports betting fray last year when voters approved a ballot measure. While no legal wagers have taken place yet, the state expects that will change by the start of the NFL season. There is a logical extension of sports betting and that is a place to eat, drink, and have fun. Sports And Social provide just the venue for that. As always, at Vegas Betting, we have the latest news.
Some entrepreneurs see the ramifications of legal sports betting as a tool to profit and not the standalone attraction some make it out to be. The idea of merging this big of a food establishment with sports betting like capabilities is nothing new.
The bonus is what Sports And Social carries for atmosphere. There are all the games and so much more. It is the old adage of creating a one-stop shop for entertainment purposes.
“We think sports betting is a major player in creating that entertainment experience. … We believe that if you can create an environment where people are cheering and hooting and betting on their favorite team, even though there’s not great margin in that, what we’re going to see is more business in the casino. … If we can get just a couple of those folks who are coming in for sports betting to play in the casino, we’re going to make a lot more money for the state and the operators.”
Rob Norton of The Cordish Cos
Norton would know since he has different ventures not only in the mid-atlantic but beyond.
There are some interesting wrinkles in what Sports And Social does that helps it stand out.
From looking at this in several ways, the venture has been a resounding success. Maryland residents still cannot bet when it comes to the 2021 NHL playoffs, or the NBA Playoffs, or any other sport for that matter. More than likely, it will be later in 2021, hopefully by the start of the NFL season.
Again, the closest equivalence of a gaming and dining place in New Jersey would be Dave And Buster’s. Quite a few states have this type of ambience when it comes to food and gaming. However, the enhanced atmosphere with all sorts of television screens, foosball, big lounging seats, and so much more.
Evidently, this model or type of place works quite well. Consider that Maryland could issue up to 60 licenses. Also, keep in mind that the company which owns Sports And Social aligned with FanDuel in 2019. “Maryland Live” will be opening another place.
Furthermore, this is ultimately how the industry should grow.
“There’s a tremendous financial benefit with aligning with the marketing spends from those online companies,” Norton said. “If you’re a business out there that happens to be in the marketing world right now, there’s a huge opportunity about to present itself as we go forward.”
Rob Norton
Consider how hard it is to make a profit in the sports betting business. Places like Sports And Social can easily help turn up profits and spread a more positive message.
Again, so many states have laws on the books already and are making tons of money already. Look at New Jersey as they have half-billion-dollar handles in a month more often than not. Most other states surrounding Maryland have sports betting on the books and some have this Sports And Social model in mind as well.
However, the point of emphasis here is they have some time. It is about creating that profitable model that does not always need sports betting as a huge majority of income.
What happened then was revealing. The Cordish Companies expect to get one of the licenses or at least one. They have areas ready for sports betting for those who play on FanDuel. That is only the tip of the iceberg.
Now, providing some last-minute tweaks, the state looks poised to be including establishments that do not necessarily involve just the retail choice. In less than two months, Sports And Social made that much of an impact in the food, hospitality, and sports betting industries in Maryland.
For example, the Baltimore Ravens will be partnering with BetMGM as the NFL season approaches. Marketing will include signage, promotion, and so much more. Do not be surprised if that is just the beginning for the Ravens.
There has been some talk that sports betting lounges that will serve food should exist at the stadium by the end of the 2021 football season.
The mere fact that this is being talked about with concrete ideas can be traced somewhat to the opening of a place like Sports And Social in April. It shows that places like what the Cordish Companies created can work and thrive. Just imagine what they can do with sports betting fully integrated.
Simply, there will always be tinkering. That is the nature of the process. There will even be growing pains. It is refreshing to see companies get creative and make progress. This is only the beginning.
It’s a great question. The answer is slowly starting to come into focus. The future is indeed quite bright and innovation only creates better opportunities. Maybe Maryland’s approach combined with the strategic ideas from entrepreneurs was the right approach. It shows that sports betting is not a savior but just a useful tool towards greater solutions.
