We can’t deny the fact that Covid-19 has made a massive impact on sports betting industry. Several leagues and tournaments were forced to cancel planned and scheduled events to comply with social distancing and stop the spread of the disease. To give you an example, Japan Olympics have been postponed until further notice and the EURO 2020 ought to be delayed until 2021 of June.
The industry is now facing unexpected challenges; knowing that the spread of the virus will not come to an end. No one can ever foresee when would international and national sports resume. With the biggest countries in Europe as well as the US being under quarantine, lower league sports are taking a big hit on its financials.
How the Industry is Coping up?
The fact that there is no definite time when live sports will resume, bettors are now turning to alternative options available. This made online casinos like 918kiss to experience a surge in its activity and so does virtual sports game and eSports. Horse racing might go ahead in other countries, less crowd and some live events might go ahead too.
Diversification and Trends
We must not forget many other bookmakers are offering casino games. Yet another known trend is the fact that there’s growing live dealer casino games similar to those that were released by top names. From scratch cards, bingo, online poker and the likes, all are possible alternatives to sports betting.
eSports were growing at an exponential rate and continues to expand its popularity and reach. Virtual sports are the next closest thing to hardcore sports fans. Companies in the sports betting industry as well as media businesses that have capitalizes the industry are cutting costs too in an effort to stay afloat. Furthermore, they are constantly looking for creative and inventive ways of keeping their fans engaged while the sports industry is still on the balance.
All attention are now on Autumn NFL season for being the next possible opportunity among sports betting fans. Truth is, operators of sportsbook are now in a tight spot because they do own a large retail and casino locations that have taken the most hit. Online gambling providers on the other hand are now including virtual and fantasy sports in an effort to weather the sports betting economy.
Sports leagues and associations similar to NASCAR are beginning to turn to eSports or video gaming which may offer new betting options.