The purpose is to explore the impact of sports event branding on urban marketing. Under the Internet of Things (IoT) background, the impact of sports events on the economy and culture of the host city is explored based on the idea of edge computing. In addition, the economic and cultural impact of the current highest level sports event—the Olympic Games—on the host country is also analyzed. The results show that the more large-scale events are held, the more they can promote the development of the high-end market of urban tourism. The hosting of the Beijing Olympic Games brought Beijing $3.127 billion in revenue and great changes in humanities, ecology, living environment, and other aspects. The higher the gross domestic product (GDP) of a domestic city is, the more events will be held in this city, and the two are positively correlated. Domestic competition resources are concentrated in these cities with strong economic strength. The total number of events held by the top 10 cities in GDP accounts for 64.1% of the top 30 cities. Geographically, among the cities that have hosted sports events, there are 89 cities in the east, with a total number of 1676 events, accounting for 64% of the national events, far exceeding the central and western cities, and even far exceeding the sum of the latter two. Therefore, it can be said that the holding of sports events reflects the comprehensive strength of a city and improves the city’s exposure and popularity. The exploration provides a certain reference value for cities to enhance their influence with the help of events.