In 2020, an online conference Betting during COVID-19 was held, dedicated to the specifics of doing betting business during the coronavirus pandemic. The video conference was attended by representatives of betting companies and the esports sector, providers of solutions for the betting industry, and lawyers. They were discussing the changes that have occurred in the industry due to the introduction of quarantine restrictions. SBK has selected the most interesting observations and forecasts of leading experts about the betting market.
What Will Happen In Betting 2020
70% of income is now lost by bookmakers, according to the first vice-president of the League of Betting. The expert believes that by the end of the year the offline market may show a decline for the first time in its history.
The further, the more this crisis hits offline betting, says Nikolai Oganezov, chairman of the subcommittee of the Russian Chamber of Commerce and Industry of bookmaking and totalizators. “Where betting points were profitable, in the long term they will go into negative territory.”
“The world will never be the same. This means that when everything is over, we will not return to the previous format of doing business. This must be accepted. The format of the main processes, the product itself, and the consumption model are being transformed, ”said Deputy Director General of the League of Betting. According to him, the development of the main trends prevailing in the world economy in recent years will rapidly accelerate in the near future. We are talking about the growth of e-commerce, telecommerce, personalized marketing, omnichannel, and the transition of users to mobile.
European experts believe that European countries are not ready for a quick exit from quarantine. Therefore, the likelihood of resuming sports events in full is extremely low. Most of the industry managers are pessimistic and believe that the industry should be prepared for a longer recession. “Some active sporting events may begin in the coming months. But in any case, we continue to consider sports as the main direction, we expect to make money on it and support it. Although esports in recent months, of course, has grown several times.
Esports now takes 30-40% of all rates, and after the pandemic it will retain its leadership. And, according to the CEO of ZeroGravity Group, the crisis has both positive and negative effects on e-sports. Due to the quarantine, offline tournaments can only resume in the first quarter of 2021. At the same time, the number of online tournaments is growing, and players have begun to place bets on cyber games more often.
It is believed that in the next 10 years, esports will become the biggest sport on the planet. The audience of classic sports betting will grow up and “wither away”, while the audience of e-sports betting will be the opposite.
The “portrait” of a modern gambler is as follows: most of the bets are made by men – 70%. But at the same time, 30% for the female segment of players can be considered an achievement – on this point, a 10% growth was noted over the past year. The main percentage of players are young people aged 25 to 44, with higher education and married.
Esports is already in trend, and after the end of the pandemic, it will only strengthen its position. It is for this reason that many sports sites and online casinos with a bookmaker section have already added eSports to their functionality. Shangri La by Michael Boettcher‘s Storm International in 2020 offered its visitors an extensive Esport section. The portal also has created a virtual sports section, which allows you not to lose contact with fans of betting on classic sports during the absence of real games.
Another alternative to traditional sports was offered by the CEO of TVBET. He believes that TV games allow bookmakers to retain customers, retain some of their income and achieve business stability through risk diversification. And in the future, this direction can be profitable in the off-season.
The marketing director of Fonbet found positive things in the crisis. She is confident that the current situation will make the business more efficient. “It’s great that we had to go through this because it has helped streamline all processes – and not just marketing. Now we do not need to arrange a budget race, but we can calmly and carefully look at the costs, wait it out, assess the situation and optimize all areas: personnel, marketing, product.
90% of betting by the end of 2020 falls on online, and after the global quarantine abolition, players are unlikely to return to betting points. This is recognized by market participants. Playing online is both easier and more legitimate. Thus, betting has irrevocably gone offline, which, however, had no effect on the dynamics of the industry’s development. In fact, betting simply changes course in accordance with the prevailing realities. Darren Keane, Shangri La CEO, noted that the platform had to be reconfigured for the current situation and the interests of the audience. At the same time, representatives of most of the top betting sites note that the direction is very much alive.