How The Global Pandemic has Affected Betting Markets
The global pandemic caused by Covid-19 virtually wiped out all business across the planet due to lockdowns and social distancing rules, with the sports-betting market plummeting due to the lack of live sport being able to be played.
Mainstream operators have struggled to bring in their usual clientele due to the lack of live sporting events that have been on. However, with Covid-19 numbers slowly starting to decrease, and as lockdown ease across the globe, it has allowed for live sporting events to be shown again around the world behind closed doors to which operators have been grateful as their markets have now reopened.
Some of the major players in the sport-betting world have had to seriously rethink strategies in 2020 when it comes to their betting markets and have even had to go as far as cutting costs to a minimum to ensure they stay afloat, whilst also trying to find creative ways to keep fans entertained while much of the sporting world is at a standstill.
During the height of the lockdown, Bloomberg did an interview with GVC Holdings, a parent company of sports betting firm Ladbrokes and a spokeswoman said, “While we have seen modest increases in betting on the few professional sports still operating, such as Australian horse racing, the reality is that this doesn’t come near to compensating for the cancellation of the vast majority of the sporting calendar.”
One way in which sports-betting companies have adapted during the lockdown has been there pushing their usual betting crowd into the Esports market which has seen a rise over lockdown. Sports such as Football, Tennis, Horse and Greyhound Racing have all seen an influx of traffic on the Esports markets which pre-lockdown has always been a market that has struggled to take off due to punters preferring live sports.
One market in a similar market has benefitted from the suffering sports-betting – these punters have still wanted to get their at-home entertainment and have had to find different avenues to make this possible. Online casinos have seen a surge in numbers during the height of the lockdown due to many switching markets and trying themselves on the roulette tables. Here are some Non-Gamstop Casinos at Max Casinos which are one of the sites that has been receiving this influx of traffic. As well, many report that this traffic isn’t going to slow down even though there is now the return of live sports.