The recent international tragedy of the worldwide pandemic has had a profound effect on various dimensions of our lives. We have begun to think more about what we eat as well as how we do it. We are also seeing more reflection in players who like to bet on sports.
With the introduction of the global quarantine, almost all events on which people could bet have been canceled. The absence of sporting events meant that bookmakers were unable to offer their services to people, implying a complete shutdown of the industry. But is this the case?
The experts of Imperium-Games decided to look into the situation and find out what happens to the sphere of betting without the broadcasts of sports matches. Our company offers the best gambling website software. Contact us for more information.
Online Sportsbook Software: Current Situation
Before the pandemic was announced, players could bet on 400+ events per day, but now there are no more than 200. As a result, total turnover has dropped by an average of 40%. Some companies have lost only 20% of revenue, while others are barely staying afloat, with major losses of up to 80%.
A similar situation occurred in 2001 in Great Britain. Because of aphthous fever, all horse racing competitions were suspended for a long time, and the betting sector was desperately looking for an alternative. Oddly enough, virtual sports attracted enough attention from punters at the time to support the activities of bookmakers. In most of the world, betting on horse racing and other sports is legal. In the United States, Canada, Australia, New Zealand, South American countries, including Brazil, sports betting has long been considered a legal activity. However, in some countries (e.g., Italy) they are prohibited. This is due to the fact that they contradict the laws on financing sports. Despite the ban, betting is flourishing in countries such as Austria, Switzerland, Belgium, and France.
Now the betting situation is only getting better, with many countries already performing better than the pre-pandemic. History often repeats itself, and today growth in the virtual sports sector has increased by an average of 500%. While it used to take up only 6% of betting volume, it is now over 60%, with some brands growing as much as 1,500%. Our company offers sportsbook software for sale. Now is a good time to enter a fast-growing market. Contact us for more information.
Gambling Website Software: West and East
The confusion in the betting world has caused all the participants to react differently to the situation. So let’s take a look at where the parties stand at this point. The performance of the online sportsbook software from Imperium-Games has only improved during the pandemic because we are constantly working on new features.
What happened made us look at how different people perceive gambling. The first example is the story of operators who tried to move their operations from one region to another.
After a pandemic was announced in China and neighboring countries, the gambling owners decided to localize their resources in the western hemisphere without making major changes. As it turned out, this was the perfect way to lose money. Buy Online Sportsbook Software from Imperium-Games & you’ll never lose your money.
The fact is that most people in eastern countries gamble for the sake of gambling. They like the feeling of winning and the emotion they feel when their bets win, the last token makes a profit, or a combination of cards proves stronger than the rest.
Western audiences (including the United Kingdom and European countries), on the other hand, gamble, contributing to the industry. For example, the existence of the sports betting sector would not be possible without people betting and believing their favorite teams would win. Smart service providers are fully aware of this and are trying to adapt, even under strict quarantine.
Sportsbook Software for Sale: Conclusion
The good news is that the quarantine in China has already been lifted, and the country is gradually returning to a normal rhythm of life. As for the gambling business, it will also resume its work soon.
Imperium-Games Company draws your attention to the increased demand for online casino services due to the situation in which the whole world is now.
We offer to order convenient turnkey gaming business solutions, so your customers don’t get bored while sitting cooped up.
Don’t miss out on the opportunity to improve the efficiency of your business or even create a brand new profitable project from scratch! Contact our support team & we’ll be able to answer any questions you may have.