Pickleball, the youngest cousin of tennis and table tennis, is sweeping the United States. (Courtesy: @MajorLeaguePB/Twitter)
Pickleball, the youngest cousin of tennis and table tennis, is sweeping the United States. So much so, that the basketball court is taken over by pickleball games while the tennis courts are converted into pickleball courts.
Invented in 1965 on Bainbridge Island, a short ferry ride from Seattle, Washington, pickleball utilises elements of badminton, tennis, and ping-pong. It was named as the official sport of Washington in 2002. Like its well-established cousins, the sport can be played as doubles or singles. The basic motive of the sport, like with other racket sports, is to hit the ball over the net and prevent an opponent from hitting it back.
The Economic Future: An Untapped Potential
Let's relive this moment one more time… 😍 pic.twitter.com/s03UjQ9WSg
— Major League Pickleball (@MajorLeaguePB) December 28, 2023
Pickleball is like the new kid on the block with untapped potential from an economic perspective. The total prize money on offer in pickleball and tennis tournaments have stark differences.
For instance, the Major Pickleball League (MPL) in 2022 announced a prize money of $1 million spread across three events while the four Grand Slams in tennis have a total prize money of $208 million combined.
Now take into the consideration the individual players: the pickleball world champion, Benjamin Johns, has an estimated prize money of $146,325 after accumulating more than 50 gold medals. On the contrary, Roger Federer, has a total of over 103 titles and more than $130 million in career prize winnings. As a result, the pickleball players have a significantly lower amount of prize money winning available through tournaments.
However, with investors, including celebrities, funding the growth of the sport, pickleball is expected to reach wider audiences and encourage new players to get involved. The stakeholders in the sport will have to determine the best way forward to make the tournaments more attractive to players by increasing the prize money, while sustaining the growth of the sport.
