Coronavirus has caused a lot of economic losses for so many countries across the globe. Sporting events have been canceled bringing a total halt to sports betting,but people are allowed to play at www.toponlinecasinos.co.za .Casinos are now closed, meaning there is totally no revenue for brick and mortar casinos.
The industries are set to lose billions due to the current lockdown that most countries have imposed on their citizens. Most companies are considering asking governments for bailouts. There is nothing to bet on anymore.
In a short period of time the NBA, MLB, ATP, MLS, the English Football League, and the European Football Leagues were suspended.
The Damage of Coronavirus in the Sports Economy
The industry is worth billions of dollars. The money comes from ticket sales and media rights, with the current situation; there are no ticket sales or media rights.
It is estimated that the top seven leagues are worth $85 billion.
The March Madness Falls
Over 47 million Americans bet more than 8 million annually on March madness according to statistics.
The impact of coronavirus is especially being felt at a time when sports and blackjack game were now being legalized in the country.
In the past year, Nevada sportsbooks had $36. 5 million on basketball bets and New Jersey had 372 million in sports bets.
The Future of Sports Betting and Casino Bating
There is currently no cure for coronavirus and authorities are battling to contain the virus. There is uncertainty at the moment because people do not know when this is going to end. Many countries are on lockdown and the virus is far from being contained.
Sports fans and gamblers may have to go for months without their favorite games.
Impact on Online Casinos
Online casinos, however, are on the rise because gamblers do not have to leave their homes to access them. So many people are in isolation right now and they can access real money online casino games. The industry is bound to grow considering this factor.