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Sports Betting Is Struggling To Survive In The Face Of Corona Pandemic

Crash test for the billion-dollar market. The actually booming sports betting industry faces the greatest challenge in its history in view of the coronavirus pandemic. There seems to be no industry excluded that even hit poker gaming online like bandarqq. Whilst, amid the pandemic, all industries are considering the odds in the near future.

“We are very worried. The business is practically down to zero. Not only in the betting shops that have to be closed. But also online because hardly anything is happening anywhere. It is a global shutdown. The sales volume is over 90 Percent decreased, “says Mathias Dahms, President of the German Sports Betting Association, the German Press Agency.

Coronavirus | Sports betting industry feeling the pinch

Sports betting has been something of a rushing descent on a racing bike for years. Hands firmly on the handlebars, the warm wind blows around your nose, the bike computer climbs to over 80 km / h – and out of nowhere someone slams a stick between your spokes. The industry is still in a nosedive. Nobody can say how hard the impact will be.

In the past year alone, betting stakes in Germany were just under 9.3 billion euros. The volume had almost tripled within a few years. Now things are going down, not just in terms of sales. The Bet-at-home share was still a good 40 euros at the beginning of March. On March 18, the previous low was reached at around 18 euros. The paper of GVC Holdings, the parent company of Bwin, dropped in the same period from a good 9 euros to 3.50 euros.

The providers help themselves as best they can. Some try to lure customers into the casino area. Others include virtual sports. In addition to horse races fully simulated by computers, this also includes e-sports. This is by no means a substitute for real sport. “The sports betting business has always been considered crisis-resistant. Unfortunately, this sentence has not been applicable since Corona,” said Interwetten board spokesman Dominik Beier of “Bild”. “If the ball doesn’t roll again in May, many will have to think about how to continue.”

The world is also upside down for the weather. Briton Ersen Guven lives from sports betting, and usually wages £ 6-7 million a month on betting exchanges with live betting. It is currently experiencing a decline of 80 percent. And what is currently happening is simply insane for Guven.

As an example, he leads the ongoing Belarusian league in DPA talks. “There are over a million euros in the games markets. That shows the despair of the weather. They are simply looking for something to bet on,” says Guven. He is currently betting in Belarus, too, and the former psychiatrist is keeping away from friendly matches. “There were too many absurd results.”

Aside from possible game manipulation, betting providers have the problem that spending cannot be easily reduced. IT has to be maintained, costs remain high. Dahms is also very concerned about the betting shops. They are currently not allowed to open, are on the revenue side at zero. “Large international providers may have a cushion or be supported by the respective governments,” says Dahms. In Britain the inclusion of the betting association in the £ 350 billion rescue fund has just been refused.

There is also a problem that could keep the sport busy long after Corona. Because betting providers have long been important sponsors and co-finance the now paralyzed sports show. Pretty much every soccer Bundesliga team cooperates with a betting provider. In the 3rd league, Sunmaker is the sponsor of seven clubs. “They have already fulfilled all their obligations for this season,” said Jens Rauschenbach, President of Halleschen FC, the “Mitteldeutsche Zeitung”.

As for the coming season, no valid statements are currently possible. “The sports betting industry is one of the largest advertising industries behind the automotive and telecommunications industries. There will be massive cuts in this area,” said Interwetten-Mann Beier. In addition, the relocation of the European Football Championship and Olympics is massively impacting the office. The fact is, it must go on soon. Without spectators at all, because they play a maximum role in calculating the odds. If it continues in May, the industry says, you might get away with a black eye.