NYC Bar Cuts Tabs 37% After Knicks Beat Cavaliers in Game 4
Updated
Updated · Bloomberg · May 26
NYC Bar Cuts Tabs 37% After Knicks Beat Cavaliers in Game 4
1 articles · Updated · Bloomberg · May 26
The Jeffrey, an Upper East Side beer garden, gave patrons 37% off their tabs after the Knicks beat the Cavaliers by 37 points in Game 4 of the Eastern Conference finals.
The promotion promised a 1% discount for every point in the Knicks' margin of victory, a wager the bar's owners used to draw a larger game-night crowd.
Owners said they had bet big on the Knicks but did not expect to slash prices by such a steep amount, turning the lopsided win into an unusually costly promotion.
The giveaway tied a local business directly to the playoff run, showing how the Knicks' postseason surge is spilling into New York City bars and fan spending.
Was the bar's viral 37% discount a brilliant marketing move or a costly financial blunder after the Knicks' massive win?
Will other NYC businesses gamble on the Knicks during their first NBA Finals run since 1999 after one bar's risky promotion?