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Coronavirus Crisis Affects Online Betting Odds Providers Globally

Coronavirus Crisis Affects Online Betting Odds Providers Globally

The novel coronavirus impact can be felt across many industries, including sports. This does not only affect teams and players, but also providers of online betting odds. Most events around the world are now canceled or delayed for the foreseeable future.
No Sports in Nearly all Countries
When a global pandemic such as the novel coronavirus hits, it will make an impact on different industries. For sports athletes and organizers of events, COVID-19 is turning into a nightmare. All kinds of sporting events are now waiting to be moved to a new date, or have been taken off the calendar altogether. 
This situation has affected some of the world’s biggest sports leagues . The NBA, NFL, NHL, and MLB have all suspended games and training sessions. Even the PGA Tour in golf has been postponed until the novel coronavirus situation improves. Traveling to different countries or continents is ill-advised under the current circumstances. 
Looking beyond the sports teams and their players, it is evident that online bookmakers also face some issues. Various gambling companies are reeling. According to a recent article published by Reuters , companies in the UK and Northern Ireland are feeling the pressure.
In this modern day and age, online betting odds providers such as Paddy Power, Ladbrokers, and William Hill are losing customers. Their earnings are decreasing significantly, as there are no sports events to place bets on. It is unprecedented to see global sports events being shut down, but it is the only viable response to the novel coronavirus crisis.
eSports betting Takes a hit 
Most people associate online betting odds with traditional sports. In recent years, that narrative has come to change significantly. Many people enjoy betting on eSports, especially when official tournaments, competitions, or major events are hosted. 
For companies such as William Hill, eSports betting may help to bring in some extra revenue. Providing online betting odds for these events is always an option worth exploring. It also appears that the company is exploring options in the greyhound and horse racing segments.
Making the Most of the Situation
When unprecedented challenges like these appear, it is up to individual companies to make the most of it. That is often easier said than done. However, with so many people forced to stay at home, global interest in online gambling is likely to increase. That is, assuming that there are ample events to place bets on, even if they are outside of the “normal offerings”. 
Overall, the current situation can become problematic for smaller gambling service providers. As more events get postponed or canceled, it will become more difficult to cater to online gambling enthusiasts. That being said, every situation creates new opportunities waiting to be explored. 
Image(s): Shutterstock.com

The post Coronavirus Crisis Affects Online Betting Odds Providers Globally appeared first on The Merkle News .

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