Bookmakers hit hard by Corona outbreak

First news say about 80% decrease in sports betting turnover. Online casinos will most likely not replace the turnover and sportsbook is expected to die off since there will be nothing to bet on

13/03/2020

Looking back when I was working for a bookmaker, there was no event that meant anything significant for the industry. Not even the 2008 financial crisis caused any serious hit. All was fine... up till the Corona outbreak when some operators reported a 80% turnover decrease in sportsbooks between March 13th and March 15th. Yes - only 2 days and that is just the beginning.

Based on the latest insider news we received from 3 various British Sportsbook operators, we see some really serious hits. One of the information comes from a big UK bookmakers and 2 other ones from smaller brands. None of the sources wants to be named.

As for sports betting, the Cheltenham week is for now postponing the bad news, but after that there the sportsbook Armageddon is to be expected.

Most of the European leagues are already having a break and now the English Premier League joined the club. In 2 weeks there will be probably no events to bet on and e-sports or political and stock markets betting options will not save the industry.

Will online casinos save the industry?

From my experience back 10 years ago, punters (those betting on sports) basically never played online casino. We tried to "bribe" them with bonuses, free spins... and they did not care at all. Less than 5% punters accepted the bonus, but never became long term players.

Operators do not expect casinos to increase the activity, they only expect the sportsbook to die off since there will be nothing to bet on.