Bookmakers seek alternatives amid crisis
Online operators and bookmakers are looking for alternatives for players to bet on, as sporting events continue to be canceled around the world.
BETTING HOUSES LOOK FOR ALTERNATIVES IN THE MIDDLE OF THE CRISIS
The sports calendar continues to be wiped out thanks to the Coronavirus pandemic. The last major sporting event to be a victim of COVID-19 was the Tokyo 2020 Summer Olympics, which were postponed to 2021. The Olympic Games have joined the NBA, NHL and MLB and since all of these are not available to bet , the United States betting industry has been hit hard.
These cancellations have led sports bookmakers to look for different things to offer their customers to bet on. At this point, no one really knows how long this is going to last or the growing impact it is going to have on the global economy. None of the top four professional sports will be in action and even what many considered to be niche markets in the US are closing.
This follows foreign markets that have also closed, such as the Premier League, the Champions League and the Europa League. The XFL, Masters and tennis at Indian Wells were also canceled. With the social distance in full force, the public needs some way to be distracted and have fun. But where will bettors now turn to, as the options literally continue to decline day by day?
SPORT BET ALTERNATIVES
Some sports bookmakers are already thinking about autumn. Jay Kornegay is the vice president responsible for Westgate Resorts Superbook in Las Vegas, the largest sports betting house in the world. It has been closed since Nevada Governor Steve Sisolak ordered the closure of all non-essential companies for 30 days. Kornegay is focused on potential betting options in the autumn, including the presidential election.
At the moment, betting on elections is only allowed in some locations outside the US, but Kornegay would like to implement a change in the law, and he believes the election could bring ten times more money than the Super Bowl. He said, “There are certainly many more people who have opinions about the presidential election than there are about the Super Bowl, and even more now, at least in my opinion.”
In addition to political options, betting on prize ceremonies is increasingly popular, and US “oddsmakers” begin to accept bets on scripted events, such as the Academy Awards and Emmy Awards. If sports bookmakers really feel the pressure, will they consider offering markets at events with predetermined scripts, such as WWE, as European bookmakers do?
TV SHOWS? ESPORTS?
In addition, there was a huge interest in “Game of Thrones” last spring, although bets were not offered at legal sports betting houses in the USA. Will we see bets being placed on popular television shows like “The Bachelor” or “The Masked Singer” in the future? In Europe it is common to find multiple betting markets for reality TV shows.
Another constantly growing market is eSports, which can be played during quarantine, as well as virtual horse racing. Essentially these are simulated runs with a random number generator and bets can be placed just like a traditional horse race. There are currently markets available for this at New Jersey and Pennsylvania online casinos.
ONLINE CASINOS SHOULD BENEFIT
When there are no sports to bet on, and you can’t physically go to a casino, things like mobile blackjack, roulette and other games in states with legalized online betting can benefit. Online slot games are very popular and are available at online casinos in New Jersey, Pennsylvania and Delaware, and other states are expected to offer online casino betting soon.
Online casinos have remained stable since the appearance of COVID-19. Full House Resorts Inc. CEO Dan Lee told investors that the number of visitors remains stable and that Full House expects to remain open. Lee said:
“It is possible that the mobile game will benefit from this. People can stay at home and bet online all day ”. Therefore, a significant part of this company’s potential future profits would be immune to something like this ”.
