The COVID-19 pandemic, which literally touched the whole world, influenced the development of various industries. The owners of many business projects were forced to change their format of work and switch to the online segment. The bookmaker business has faced a great threat of losing considerable sums due to the cancellation of most popular sports events.
Bett-Market experts studied the features of conducting business during the pandemic and evaluated the current state of the betting market. Find out what alternatives to sporting events are available today.
Unfortunately, most important sporting events were cancelled due to the rapid spread of coronavirus and general quarantine. However, some countries continue to hold sports tournaments (for example, football competitions in Belarus and Nicaragua, table tennis tournaments in Russia and car races in the USA, Hong Kong and Australia). Previously, a large number of gamblers were not interested in these events. Nevertheless, users are willing to bet on these tournaments today.
Admittedly, betting websites have suffered considerable losses.
Specialized resources focused on the following sports have been affected significantly:
- football;
- basketball;
- hockey;
- tennis;
- golf.
Platforms that provide a wider selection of betting opportunities were able to save part of their income and offer their clients alternative events for betting. For example, according to experts, the popularity of virtual sports betting has grown by 400 per cent. This area occupies about 40% of the betting industry today.
Quite a lot of regular customers of betting resources switched to other gambling entertainments. The popularity of online casinos increased during this period by approximately 20 per cent. Businessmen engaged in both sports betting and casino business switched to their gaming projects. It should be noted that live content is especially demanded today.
Since the outbreak of the coronavirus epidemic in China, many operators working in the Asian market have decided to switch to other regions. However, this approach was completely wrong. The fact is that different target audiences have different expectations and requirements. For example, Asian gamblers prefer classic casino games. In addition, they like to make rather big bets. At the same time, Europeans make quite small, but regular bets. Moreover, they pay more attention to sports gambling.
According to recent data, the current situation begins to stabilize. Therefore, experts predict a gradual return to normal working rhythm this year.
Here are the approximate dates of important sporting events:
- Premier League, Bundesliga, La Liga — summer 2020;
- MLB — June 2020;
- NBA, NHL — July 2020;
- Golf Majors, The Open — postponed to 2021;
- Euro 2020 — rescheduled for summer 2021;
- Tennis Majors, Wimbledon — postponed to 2021.
Operators and developers are trying to save their money and continue active work. Their main priorities are as follows:
- Search for new sporting events. The staff of the betting companies follows all sporting events that are held in the world today. Operators offer favourable conditions and additional bonuses to retain their regular customers. Due to the popularity of e-sports, businessmen began to invest in the development of this area more (for example, in live broadcasts of games).
- Casino business development. Even though the casino owners did not suffer losses due to the pandemic, the competition in the gambling market has intensified significantly due to the growing demand for games of chance. The main task of the operators at this time is to find unique, attractive software that can surprise a lot of users.
- Creation of new software products. This characteristic is closely related to the previous one. Virtual casino owners are interested in buying new gambling solutions. Because of this, software providers began to search for fresh ideas. Manufacturers launch advertising campaigns to attract more operators interested in buying new products.
- Retention of regular customers. Most betting companies are in no hurry to invest in advertising in today's circumstances. Their main strategy lies in retaining regular customers needed to ensure the stability of their resources. Due to this reason, many operators launch promotions directly on their websites and do not conduct large advertising campaigns on social media. Moreover, many governments have banned the advertising of betting companies and casinos during the pandemic.
- Live broadcast of cyber tournaments. The audience of cybersports fans has grown dramatically in just a few weeks. For example, about five millions of people watched the virtual Grand National. Besides, 500 thousand viewers watched the virtual boxing championship held as part of the EA Fight Night Champion game. At the same time, 900,000 sports fans watched eNASCAR racing.
Experts predict stabilization of business conditions this summer. This means that operators will be able to return to their usual working rhythm, and players will get more betting opportunities in just a few months. If you do not want to lose your audience today, you should develop e-sports betting on your resources.
Bett-Market offers lots of software solutions that will help you save your finances and stay alive in these challenging circumstances.
Contact our manager to learn more about the opportunities for betting business development:
