Los Angeles, CA, June 26, 2020 --(PR.com
)-- The novel coronavirus, COVID-19, has not only swept the nation but has ravaged the sports industry. Sporting events all over the globe were forced to come to a halt, including the NCAA Men’s Basketball Tournament, followed by the NBA and NHL seasons. With lack of sports, comes lack of wagers; with lack of wagers, comes lack of monetary influx from casinos and sportsbooks.
But, just how badly was the industry affected
In 2019, the NCAA Men’s Basketball Tournament reeled in $8.5 billion. This was followed by a $165.5 million day of wagers on the 2019 Kentucky Derby, and $6 billion on the 2019 Super Bowl. Throughout the 2019 NBA season, Nevada alone pulled in $500 million in wagers. In total, there were $50 billion total dollars wagered over the course of 2019, according to the American Gaming Association.
With sports betting growing in legalization across America, this year was set to be even larger. Even overseas and illegal bookies in America have suffered from this. Unfortunately, COVID-19 has halted this large money industry.
While sports are suffering from a hiatus, gamblers still need to get their fix. Many gamblers have resulted in wagering on Esports on live streaming services. The NBA hosted a virtual tournament with their own players, that many bettors flocked to too. Esports has shown the greatest benefit from the suspension in sports. Bettors have even resulted in betting on coronavirus statistics, weather, and more.
Just how long will this go on for? The coronavirus has proved to be highly unpredictable, and we have seen numerous somber press conferences from the director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci. Fauci is adamant on sports not returning until a vaccine is developed.
For now, people can enjoy throwing their hard earned money on ESports, UFC, Nascar, Golf, European Basketball and soccer. The NBA is returning July 31 and MLB is coming back in mid-July. If there is one thing that sports fans can agree on, it’s that they are desperately begging for sports to return.
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