New York Business Journal looks at ESPN's potential foray into the market, worried about ad revenue cannibalization:
- On Monday, The Sports Business Journal reported that ESPN executives are weighing all options for how the media giant can get a foothold in an industry expected to process $31 billion in entry fees by 2020. For now, ESPN benefits primarily from cashing FanDuel and DraftKings' checks for their massive advertising spending on its cable channels and websites.
- It is bad enough that handle keeps falling, even a red cent, from year to year, when you take into account that the majority of people in North America can now bet on the majority of tracks at any time from the convenience of their own home, 7 days a week, 18 hours a day (though many need multiple online accounts to get their best bang for the buck and full content). Lets not forget about factoring in inflation and population increases when putting horse racing's numbers in perspective. Nor should we forget about the online poker ban either. Something is very wrong, and hint: it has nothing to do with lack of technology or people not exposed enough to the majesty of the horse. Nope, it stems from realizing who the customer is, who the potential customer is, and most importantly, catering to what the customer wants.