The world without any doubt is going through one of the most challenging times since World War II. While World War II was man-made, the problem that now confronts mankind is perhaps partially man-made and partially because of the vagaries of nature. It all started in December 2019 when a 57-year old female street vendor was affected by a sudden bout of fever, body pain, and sore throat, followed by dry cough. She went to a local doctor who treated her for common cold and flu. However, the symptoms worsened and she started suffering from acute respiratory problems for which she had to be hospitalized.
The Dance of Death
Meanwhile, many men and women from the same market complained of the same symptoms and a majority of them had the same symptoms and problems. Doctors and medical care workers were in a state of shock when they saw people by the dozens being rushed to hospitals with breathing problems. Many died because of acute lung failure and also because of multi organ failure. On examination, the medical fraternity realized that it was a new strain of Corona Virus and it was eventually named as Covid-19. Over the past few months, the novel corona virus has wreaked havoc across the world and killed more than 50,000 people and infected more than a million. Its gory dance of death and destruction still continues as mankind braces itself for thousands of more deaths.
Huge Economic Cost
Apart from death and destruction, the economic cost of Covid-19 is certainly going to be devastating to say the least. There is hardly any industry or service or business that has not been ransacked. It all looks so uncertain now and nobody exactly knows how long will it impact the world economy and what will it leave behind. The virus has certainly crippled sports and athletics. It all started with the cancellation of the Tokyo Olympics and Wimbledon. This has happened for the first time since World War II. The famed Wimbledon Tennis Tournament for 2020 has also been cancelled. Scores of sports fixtures covering football, cricket, basketball, tennis, golf and a host of other athletic events have been cancelled. It certainly has left sports enthusiasts shell-shocked. As millions of people find themselves locked inside their homes, they need some ways to keep them entertained and occupied. There are reports to suggest that there is a growing demand for online casinos. The demand is more pronounced towards virtual sports gaming & gambling. The reasons for the same are not too difficult to understand and comprehend.
Legal Sports Betting Has Taken A Big Hit
There is no doubt that the legal sports betting industry across the world in general and the USA in particular has been dealt a body blow because of the Corona Virus pandemic. Experts believe that the sports-betting business in the USA was poised for a big takeoff in 2020 but it has now come crashing to the ground. Name any major sporting event and you can be sure that each one of them have been either cancelled or have been put on hold. March Madness is the famous college-betting frenzy as far as basketball is concerned. This has been cancelled and on the other hand major events like MLB, NHL and NBA are on hold. If things continue to be as bad as they are now, even these events will stand the risk of being cancelled.
The sports-betting companies were least prepared for this and the only option left for them is to cut costs and stay afloat till the situation improves and some sense of normalcy is restored. However, at the same time, some sports-betting companies are trying to come out with innovative ways and means to increase their revenues in these disturbed and uncertain times. They are trying to come out with contingency plans to take care of certain expenses that are simply unavoidable. Most of them have websites and they have to pay huge amounts of money to towards server rentals and maintenance. Hence, it would be interesting to find out more about the ways by which sports-betting companies can not only stay afloat but also make decent money in these trying and testing times.
Gradual Shift Towards Online Casinos
With sport-betting being ruled out at least for the next two to three months, the main objective of sports-betting sites is to retain the employee base and prevent layoffs and retrenchments. They are planning creative ways and means to stay afloat and earn some revenues and online casino gambling and gaming is certainly a big option for them. We will find out why sports betting companies are taking this route in these tough and trying times.
They Have To Target The Same Customer Base
There is no denying the fact that many of those who are into sports-betting are also naturally inclined towards online casino gaming and betting. They are into betting and wagering with the main objective of making some money out of some sporting events or games. While their natural interests may certainly be inclined towards sports-betting, most wagers and online gamblers would not mind spending some time and money on casino gambling. Hence, there are many sports-betting companies who are making this intelligent and carefully thought out shift. It is expected to be a good move because the shift can be done easily without having to spend big money and time in setting up the infrastructure.
Sports-Betting Companies Are Also Into Online Casino
If you look at the businesses of many sports-betting companies, they also have a casino gambling arm. Hence, this decision is turning out to be a boon for these sports-betting companies as they shift their revenue stream from sports-betting to online casino gaming. Many of them have a reasonably big collection of games and therefore they can easily start promoting this revenue stream to their customers. They may not have to struggle too much for bringing in new customers because they have their existing set of customers who would be keen to make this switch. Hence, there are reasons to believe that moving to an online casinomode is a win-win situation both for the players and also the sports-betting sites.
Many of The Gambling Is On Sports-Based Games
If you follow the online casinos and the games that they offer, there are a few things that may be interesting for sports-betting enthusiasts and lovers. While there are some conventional online casino games like Poker, slots, blackjack, baccarat, 3 card poker games and other live games, there are also many sport-based gambling games. These include car racing, fishing, virtual football, tennis, cricket, basketball and other such games. Hence, customers who are interesting in sports-betting will most certainly have a natural connect and involvement in these games. Therefore, the switchover is becoming quite easy for both for sports betting sites and of course for customers also.
Yes It Does Involve Risks For Gamblers
Things are not however going to be easy for those who are used to sports-betting and do not know anything much about online casino gambling. They may have to undergo a process of learning as well as some bit of unlearning. Sports-betting and online casino gambling are two different cups of tea. There is some bit of science, predictability and other such things as far as sports-betting are concerned. However, this is not the case with online casino gambling. The learning curve could be quite long even for basic games like slots even if you are playing free pokies at an online casino. Hence, the punters and gamblers may have to lose some money before they start seeing something coming back to them. Though online casino gambling promoters may talk about probability and other such things, at the end of the day, there is no doubt that online casino gambling is more about chance, luck and good fortune. Therefore, the chances of winning big money may not be as pronounced as sports-betting. This could be a dampener for many sports bettors, especially those who do not have deep pockets to dig into.
The Risk of Excessive Gambling Always Lurks
With nothing much to do, sports bettors may tend to go overboard with online casino gambling. Many of them may be beginners and therefore they may not know the limits when it comes to gambling. It may take some time for them to understand that there is a world of difference between sports-betting and online casino gambling. However, by the time they learn about it, they may have ended up spending a significant amount of their money. With earnings and incomes almost coming to a grinding halt, such unbridled gambling might lead gamblers down the wrong end. They may have to be controlled and should be educated about it. Hence, we now come across news articles where some responsible online casino outlets are putting a cap on the daily gambling amounts. This may irk some experienced gamblers but for the sport-betting turned online gamblers this cap is certainly welcome because of obvious reasons.
The Final Word
There is no doubt that sports-betting as we have known for so many years and decades has come to a complete standstill because there are hardly any sports-activities around the world. Even indoor games and other such sporting activities are not being held keeping in mind the need for isolation and social distancing because of the dreaded Corona Virus. Therefore, sports-betting companies and sports-betting enthusiasts have only two options. Either they wait, bide time and hope that things will improve or they try their hand in online casino gambling because it will at least help them to earn some revenues. It also will give the players an outside chance of making some money. Yes, the sports-betting sites will welcome it because it will lead to some much-need cash flow and revenue generation in these tough and troubled times.