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How Betting Markets have been affected by the Coronavirus

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How Betting Markets have been affected by the Coronavirus

The Coronavirus pandemic has dealt a massive blow to the sports-betting industry due to the cancellation and postponement of virtually all live sporting events. Operators have struggled to entice customers in when they haven’t got any sports to be able offer deals on. However, now that Covid-19 is slowly starting to decrease in numbers, live sporting events are now back up and running behind closed doors due to social distancing, but this allows for betting markets to finally re-open.

Sports-betting companies have had to seriously rethink their strategies this year and have had to dramatically cut costs to ensure that their business stays afloat, whilst also trying to find creative ways to keep fans entertained while much of the sporting world is at a standstill. At the beginning of lockdown, Business Insider did an interview with UK based software giants who went on to say: “Our industry has been so severely affected by this,” said the CEO Dave McDowell who’s clients are primarily Europe based, “I never imagined a time when we wouldn’t have live sports available to us.”

One way in which betting operators have adapted is the use of Esports in Q2 and Q3 of 2020, a market that hasn’t really had the chance to evolve into anything big as it was expected to when it was first released. Sports such as Horse Racing, Tennis, Greyhounds, Football and Hockey have all be targeted to become the next big Esport and they were really pushed by sports-betting companies during lockdown.

Although, with the reintroduction of sporting events behind closed doors now, we have seen a surge from previous gamblers back onto the betting markets as they haven’t taken to the Esports as operators thought they would do. Betting Sites Not on Gamstop can be found here, and they have certainly showing willing to take advantage of the reopening of the markets. Fresh offers for new sign up customers alongside huge deposit matches on some of the most diverse markets are all trying to get the sports-gambling industry back on its feet.

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