The influence of Covid-19 on sports betting industry

The world continues to fight the coronavirus pandemic without any real idea when the virus will disappear or we will have to live with it. Outdoor events are a thing of the past so far, especially for sporting events.

Football is one of the most affected sports, and almost all tournaments had to be stopped, postponed or canceled. This means that football matches are extremely few and have suffered from the Covid-19 crisis.

Indeed, in the last two months, the users of many bookmakers have almost nothing to bet on. Bookmakers cannot deliver such a variety of bets after the coronavirus pandemic interrupted almost all world championships. Only in Europe football is played in Belarus, where, despite the large number of people infected with the new virus, the championship continues.

The unprecedented impact of the coronavirus pandemic on the sports industry will be felt throughout the year, mentions.

“This effect will be felt throughout the year, assuming that the recession in the global sports economy is likely to be between 50% and 60%,” said David Lampit, managing director of Sportradar. And he estimates the damage is likely to be $ 60 billion worldwide.

Fans can now watch the matches online as sporting events are gradually restarted in empty stadiums.

“In the second half of the year there will be a huge amount of live sports. It will be interesting to see how all these sports compete with each other at this stage, ”said Lampit, predicting a surplus of sports content broadcast live in the 3rd and 4th quarters of this year. And he admits that his prognosis will largely depend on how the coronavirus situation develops.

Current forecasts are that sports and sports betting will be able to return in June. Of course, the matches will be played without fans, and there will be a bunch of security measures around each match.

The German government allows the championship to be resumed, but the question immediately arises as to what will happen if a player becomes infected with the coronavirus and whether this will mean the end of the Bundesliga season.

Other leagues, including the Premier League, La Liga and Serie A, hope to also resume the season in June.

Gradually, the teams start training and it will take them about 3-4 weeks to get in shape. Some other major leagues, such as the French Ligue 1 and the Dutch Eredivisie, have announced the end of the season.

There will be no sporting events in France until September, and most likely in the Netherlands. Of course, this means that sports betting will also decrease.

The Covid-19 virus has a global impact, with the Euro 2020 tournament this summer having to be postponed to next year, unfortunately for the players at Bet365, so that the European Championships can end this summer, as well as the Champions League and League matches. Europe, which is expected to take place in August. UEFA is required to complete the European Championships first and then play the club tournaments.

While the main concerns about stopping football are about money and finances, with the survival of smaller clubs being questioned, there are other issues that are being addressed given the pause due to the coronavirus.

One of them is the inseparable connection that football has today with betting and gambling. This is especially true in the UK, where half of the 20 clubs in the Premier League have a gambling provider as the main sponsor of the shirt, while this number rises to 17 of the 24 clubs in the Championship.

Gambling companies often even name their stadium, with Stoke City Stadium, called Bet365 Stadium, being the best example. There is also a lot of advertising before and after matches, and sometimes even during matches, especially to promote live odds and football betting in general.

At the moment, however, there are no betting matches and the real survival of many clubs is in question due to their sponsorship agreements with the bookmakers.

Written by Balachandran B

Co-founder & Head of Operations @ SoccerSouls Sports Network. Nick Name: Jin. Favorite Sports team: Arsenal
Follow me @Jin

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