Team USA fans head for the exits in the final minutes of a loss to Belgium during the World Cup in Dallas on Monday.
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New York —
The elimination of the United States and Mexico in the World Cup is proving to be a win for fans looking for a deal on tickets
For Friday’s battle between Spain and Belgium, prices have plunged 65% a secondary ticket <a href="https://todaytrendnews7.com/why-the-stock-market-and-economy-may-seem-out-of-sync/” title=”Why the stock market and economy may seem out of sync”>marketplace. The United States would have played in the game if it had won earlier this week
Before the United States’ loss on Monday, the cheapest ticket hovered around $3,200 on TickPick. Prices have dropped significantly since then, to $1,100 for the afternoon game in Los Angeles
As for Mexico, their loss on Sunday against England sent prices down 45%, TickPick said. Prices for the cheapest tickets were nearly $4,000 but have since declined to $2,000 for Saturday’s showdown in Miami
Fans of Mexico react during the broadcast of the match between Mexico and England.
“Quarterfinal tickets were priced with the expectation that both Mexico and the US would advance,” Brett Goldberg, TickPick co-CEO, told CNN. “When they lost on back-to-back days in the Round of 16, there was an immediate and significant drop in demand for their respective quarterfinal matchup.”
Canada was also eliminated last week, meaning all three host countries are out of the World Cup. But the losses of the United States and especially Mexico are bad business for Tom’s Watch Bar, a sports bar with 18 locations in the United States
Brooks Schaden, co-founder and co-CEO of the chain, said that days featuring the Mexico and the United States were “massive lifts” for the company. He now forecasts business on World Cup days will decline 50% with the two countries out
Notably, the Mexican team was a bigger draw compared to the US for its restaurants, with its fans spending more money and time at Tom’s Watch Bar locations, Schaden said
“Quite frankly, price was no object,” he added
Butit isn’t all bad news for Tom’s Watch Bar: Revenue on the remaining game days will still be 25% higher compared to non-World Cup days
And regardless of who’s playing, beer is benefiting
England fans celebrating in an Atlanta bar last week.
Scottish fans drink and sing at a pub in central Boston last month.
Sales of beer at bars and restaurants jumped 6.4% over the past four weeks, according to the Beer Institute. In host cities, beer sales jumped 14% compared to the same time period a year ago
In Massachusetts, where Scotland fans drank Boston dry last month, the state had the strongest sales growth of 23%, following by the New York metropolitan area at 19% and California at 14%
“The US team’s run helped build excitement, but the data show this tournament is bigger than any one team,” Andrew Heritage, chief economist at the Beer Institute, told CNN. “We expect that momentum to continue through the final with fans prioritizing sharing a beer when they gather.”
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