(1) Background: In this study, sport and subjective psychological well-being is investigated in three waves of the COVID-19 pandemic. (2) Methods: We have conducted three different representative sample surveys (n = 3600 altogether) on the Hungarian adult population and investigated the sample’s subjective psychological well-being with the WHO-5 Well-Being Index, as well as changes in their subjective well-being through the different waves of the pandemic. Sporting habits and socio-economic variables were also surveyed, and OLS regression models were created focused on the WHO-5 measures. (3) Results: The subjective psychological well-being of the Hungarian adult population decreased significantly, but in the second and third wave of pandemic restrictions, an increase in subjective psychological well-being has been measured. The relationships between the time spent on doing sports and subjective psychological well-being were significant in each pandemic waves. The highest subjective psychological well-being and its highest increase were reported by those who could increase their time spent on doing sports as well. (4) Conclusions: The relationships between the sports activities, physical health, size of settlement, changes in income and subjective psychological well-being of the Hungarian adult population were significant in all three waves of the COVID-19 pandemic.

Organising the 2020 European Football Championship was fraught with the uncertainties of the pandemic period. Budapest hosted its four allocated matches during the postponed event without stadium capacity restrictions. Drawing on both social exchange theory (SET) and social representation theory (SRT), the study aimed to investigate how the level of fear of COVID-19 before the start of Euro 2020 influenced the perception of the tournament among residents of Budapest. Data were collected by telephone interview during the five days preceding the event based on a representative sample of Budapest residents (n = 1003, adult population aged 18 years and over), accounting for gender, age and place of residence. Cluster analysis identified three groups of residents based on fear of coronavirus: concerned, neutral and unconcerned. Although our study only investigated the opinions of residents in one host city, the relevance of the research appears compelling in that it highlights the crucial role of COVID-19 in influencing responses to the expected impact of Euro 2020. Examining the views of local residents and understanding the factors that influence their opinions play a key role in more successful and sustainable delivery of sporting events.