The COVID-19 pandemic has actually had a considerable influence on the sports wagering market. With the cancellation or post ponement of numerous significant sports occasions, sportsbooks have actually been required to move their focus to alternative markets such as esports and virtual sports. In this short article, we will take a more detailed take a look at the numbers and see how COVID-19 has actually affected the online wagering sports market.
According to a report by H2 Gambling Capital, the international sports wagering market is anticipated to stop by 11% in 2020 due to the pandemic. The report likewise anticipates that the marketplace will not recuperate totally till 2023. This drop in profits can be credited to the cancellation or post ponement of significant sporting occasions such as the Olympics, Euro 2020, and the NBA playoffs.
The report likewise highlights that the shift towards online wagering has actually increased substantially throughout the pandemic. With physical sportsbooks closed or with restricted capability, numerous wagerers have actually relied on online wagering platforms. Online wagering is anticipated to grow by 12% in 2020, with an approximated profits of $27 billion.
Esports has actually likewise seen a considerable boost in appeal and wagering activity throughout the pandemic. With conventional sports on hold, numerous sportsbooks have actually begun to provide chances on esports occasions such as League of Legends, Counter-Strike: Global Offensive, and Dota 2. In May 2020, the esports wagering market reached a record high of $14 billion, according to information from Esports Insider.
Virtual sports have actually likewise seen a boost in appeal throughout the pandemic, with numerous sportsbooks using virtual variations of standard sports such as football, horse racing, and basketball. The virtual sports market is anticipated to grow by 30% in 2020, according to a report by Technavio.
In conclusion, COVID-19 has actually had a considerable influence on the sports wagering market, with the cancellation or post ponement of significant sporting occasions causing a drop in earnings. The shift towards online wagering has actually increased substantially throughout the pandemic, with esports and virtual sports seeing a rise in appeal. As the world adapts to the brand-new regular, it will be intriguing to see how the sports wagering market continues to develop and adjust to the altering landscape.
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