Sports Betting industry suffers massive revenue loss due to COVID-19 lockdowns
Sports betting industry is facing major revenue loss due to COVID-19 lockdowns and cancellation of sports events. As local governments across the world try to contain COVID infections by locking down cities and asking organizers of sports events to postpone them, sports betting industry is facing major challenges.
The revenue loss during the tough times could reach millions of Euros for sports betting industry. They might have to look out for other revenue streams as it might take sports events some more time to get back to mainstream traffic levels. The positive news for the industry is that many countries are lifting the lockdowns and we could also see relaxation for sports events in coming days.
For the sports events, the crowd in the stadiums will remain low for the upcoming months due to COVID-19 but we can expect that there will be events. And, sports betting industry can still manage with this kind of situation in which the events are held without stadium crowd.
SBC Digital Summit started by talking about the tough times on the industry due to COVID-19 pandemic. The welcome message from SBC Managing Director Andrew McCarron added that the industry will face tough times but he added that the good companies will emerge stronger from this crisis.
However, sports betting industry is adapting to the reality and they have managed to improve their SEO efforts in order to deal with revenue loss, as per Julian Logan from IrishWonder SEO Consultant.
As Japan has confirmed delay in Olympics till 2021, the exact dates haven’t been announced yet. However, the decision of Olympics committee will have an impact on decision of other sports associations regarding other events across Europe, North America and Asia.