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Whether we like it or not, we’re now living what is called the new normal. There is an “after” and a “before” on a global level that made us adapt to the new circumstances. However, it wasn’t only individuals that needed to adapt. Since the pandemic started, industries, companies, and businesses have gone through serious changes. Among those industries are sports and betting.
Preventive measures included social distancing, which resulted in many sports events being canceled. Also, land-based betting was affected due to these measures so many businesses had to change the way they operate. In this review, we’ll take a closer look at how the pandemic has affected the sports and the betting industry.
Cancelled Sports Events Impacted Another Industry’s Growth
The way we used to have fun and how we spend our free time has changed in many ways. People who like to attend sports events had to adapt since all sports events were canceled in March. This created great losses for the sports industry. And even though some of the biggest players haven’t felt the crisis, those playing for smaller leagues have been in a difficult financial situation.
However, this meant that all those eager sports fans needed another form of entertainment to keep themselves busy while the pandemic situation was still at large. Most found some consolation in re-watching old matches and games, but a great number of people found a new way to kill the time. And those were eSport. The eSport industry flourished during the pandemic, as it was among the handful of events that didn’t require any alteration to continue business as usual. What is more, a great number of people who never paid much attention to these events, now started following eSports with much devotion.
Online Betting Saved The Industry
What would happen to betting and wagering if the Covid-19 pandemic hit twenty years ago? One thing is for sure, the betting industry would be affected much more than it is today, in the age of Internet technology. Nowadays, people don’t find it too hard to stay at home. So, being left without land-based wagering venues didn’t make a lot of difference. And even though the land-based venues suffered great losses the entire industry survived due to online betting and wagering.
The Rise Online Gaming
As mentioned in the previous paragraph, Internet technology made a terrible situation a little bit better. The same is applied to the casino industry. Both the casino and betting industry had serious problems due to the global closure of all land-based venues, and both of these industries had the same solution. Online casino games became very popular during the pandemic, especially among students. Most of them spend their free time using 50 free spins when you make your first deposit online or on any other form of virtual entertainment. College days can be hard, and there’s nothing like an online game with friends to relax. The popularity of online games grew so much that providers even made it possible for students to make their own virtual poker rooms and play poker with friends on a virtual platform. These new platforms even helped many people to e-meet during the era of social distancing, which had a positive impact on their overall well-being.
Furthermore, online gaming saved the entire casino industry from a total collapse, since the preventive measures demanded all land-based venues to remain closed. According to some researchers, the positive side of the story is that many new players joined the online gaming platforms and old players continued to use them in the same amount as before the pandemic. This means that the pandemic didn’t cause players to spend too much time gambling, but it inspired new players to explore their entertainment options during the hours they had to spend indoors.
Pandemic hit the world by the storm. One year ago no one could have thought that something could happen that would affect every single industry around the globe.
Both the sports and betting industry had suffered great losses due to the cancellation of different sports events. The lack of sports events had a direct effect on the wagering and betting industry, but it also made another industry shine like never before. Esports are now on the rise and like the rest of virtual entertainment options, they are creating a new normal for both the players, the fans, and the industries they are connected to.
Author Bio: Leslie Alexander is an avid fan of the sports and betting industry. She regularly combines her love for writing and her favorite topic from the world of iGaming. Leslie is the Content Lead at Gamblizard who enjoys delivering informative and fun articles.