How does COVID-19 affect the global betting industry? (Part 1)

The COVID-19 pandemic has seriously affected all areas of life, with the world betting industry is not an exception.

Casinos suffer heavy losses

The world is seeking to prevent the spread of COVID-19. The social isolation and separation is the most effective method. But that has put the tourism industry in a crisis. This means the loss of a large number of customers to the casino.

Macau, a well-known gambling capital, closed its casinos in mid-February due to the spread of the corona virus. This significantly reducing betting revenue. Total income dropped by about 88% in February 2020 and could get worse and worse.

Last week, the American Game Association (AGA) had to release a bailout. It is estimated that casinos will lose $ 21.3 billion from players in the next 2 months. If casinos are closed, an extra $59 billion in wages for industry workers and $ 34.4 billion in annual taxes.

Sports betting gets a “fatal hit”

The COVID-19 pandemic caused all sports activities around the world to be canceled or postponed leading to impacts not limited to traditional casinos but also to betting companies.

COVID-19 makes betting companies do not have many options to entice customers with only nearly Belarus football league is still held. Capital is considered a “grass tournament” when sports life is normal, the organizers are still a style, still organized that the Belarusian league is suddenly advertised as attractive as the Premier League.

However, that is not enough for the international betting companies. They no longer have lucrative opportunities in March and April, resulting in many bookmakers suffering heavy losses.

For example, in the first week of the Italian government’s decision to block the country, the number of people betting at 10 betting companies decreased by 60%.