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How Did Bookmakers Meet New Market Conditions during the Global Quarantine?

16 August 2020, 11:25
Votes: 3

Taking into account the cancellation of the majority of sports events, betting companies seemed to be among those businesses that suffered from the coronavirus crisis most of all. However, the recent report of the American Gaming Association has proved the rise of iGaming during the pandemic as a valuable direction to rely on.

How Did Bookmakers Meet New Market Conditions during the Global Quarantine?

Interesting numbers about the betting industry in the 2nd quarter of 2020

The second-quarter report by AGA shows a huge downfall at the level of almost 50% in the betting industry, which is directly related to COVID-19. To stop spreading the disease, almost all the most popular sports in the world also went on quarantine, which left bookmakers in a tough situation. A similar situation happened in the second quarter in 2018 when sports betting gross gaming revenue felt a decline at the level of about 40%.

One man's loss is another man's gain

A huge loss, however, caused a massive boost in the iGaming sphere. Thus, more than 250% Year-over-Year growth proved that people tried to seek for alternatives for sports betting. There are no doubts that online gambling establishments received much more attention during the quarantine and, according to numerous industry experts, this is not a short-term trend.

Read more: The most popular online games for esports betting

Read more: Why are sports bets actual nowadays?

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