The Impact That 2020 Has Had On The Sports Wagering Industry

published: Jan, 04, 2021

by: TC Staff

Covid-19 is one pandemic that has affected the entire world and all different types of businesses. With social distancing measures in place to contain the Covid-19 pandemic for the majority of the year, bookmakers had to devise ways to keep their business going. While some physical wagering shops might have had to close in 2020, frequent sports wagerers could instead turn to online wagering. Some online casino websites offer wagering on a range of sports games and tournaments as well as wagering on online slots and card games. Handicappers like Doc Sports Service took note of this too and were right there to help gamblers make informed wages.

Cancellation of games

The biggest hit of the sports wagering industry this year has been the cancellation of major leagues and sports events worldwide. The World Health Organization regulations require that people practice social distancing and avoid social gatherings, which has proven troublesome for large sporting events that bring in thousands of fans each year.

Following this, most matches had to either be canceled or postponed until 2021. Earlier this year, even Wimbledon had to announce the cancellation of The Championships 2020 for the first time since WWII, as there was an unpredictable outlook for the rest of 2020. For the safety of players, organisers, and audiences, many sporting tournaments and events had to change their usual routines this year.

How iGaming businesses have coped

Following the strict guidelines and measures set by health and government organisations, iGaming businesses developed suitable methods or ways to stay afloat in 2020. To tackle the closure of wagering shops amid some Covid lockdowns, it’s easy to see why online wagering would become much more popular. Usual sports wagering could wage on other types of activities such as virtual horse racing or greyhound racing while real life sporting activities could not take place.

Those iGaming businesses who had already established these online platforms experienced an influx in the number of people signing up. As more people might be wagering online this year, it’s important that players wager safely and responsibly. Safer Gambling Week took place in November to promote safer wagering and as casino reviews site has reported, wagering management tool BetBlocker also launched a calendaring feature to coincide with the week. These useful resources have helped ensure that players are staying safe when online wagering this year.

The rising popularity of other types of online sports wagering

While wagering on Wimbledon or football tournaments were either cancelled or postponed this year, there were a limited number of wagering options for players who usually participate in sports wagering. However, there are still some alternatives, as well as virtual wagering, that were less affected by the pandemic this year. Around twenty years ago, as computers became more advanced and internet connections were a lot faster, gamers could start connecting with other players anywhere in the world.

Now that some players have turned professional and play video games to compete in big prize money tournaments ‘esports’ has become a popular online activity.

Just like with traditional sports, adult wagerers can also bet on esports tournaments that are taking place around the world. The benefits of esports gaming is that professional gamers can easily participate in tournaments from their own home this year. Dota 2 and Counter-Strike: Global Offensive are just some popular games that wagerers can bet on with esports wagering. With many audiences interested in competitive video gaming now, the future of esports betting might look even brighter in the future.

TC Staff

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