1. Revenues slump for the betting sector amidst the sporting blackout - Betting operators rely heavily on live sports events to drive revenue and are therefore predicting substantial declines in earnings forecasts amidst in the sporting blackout. - Physical sportsbook operators are also suffering as they own casinos and high-street retail locations which have been forced to shutdown. 2. Betting operators diversify into esports as they scramble to retain some form of revenue stream - As live sports events grind to a halt, betting operators have scrambled to adapt as their primary source of revenue has been temporarily lost. - Consumers` drive for competitive entertainment has led to a rise in popularity in esports, which presents an opportunity for betting operators to retain some of the lost revenue. Esports global gambling revenue is set to double to $14 billion. 3. COVID-19 a pivotal moment for US sports betting industry - COVID-19 is set to accelerate rather than hamper the growth of the US sports betting industry as pressure mounts on strapped US state governments to collect more taxes through expanding sports betting and loosening regulations for online betting and casinos. - Nevada looks set to finally embrace esports, after approving wagers on five new esports events. 4. The betting sponsorship landscape has been thrown into disarray as a result of COVID-19 - 456 deals (89.2% of total betting sponsorships) with renewals or expiry dates by the end of 2021, worth an estimated total of $511.31 million to rights holders, have been put under pressure considering the dire economic conditions currently facing betting operators. - GlobalData`s Sportcal predicts a regression in the rate of renewals and a decline in the value of betting sponsorships. - The over-saturation of betting sponsorships in sport`s such as soccer is likely to rebalance, as they can no longer afford the over-inflated prices they were previously willing to pay. - COVID-19 could put talks of a ban on betting sponsorships in sport on hold.
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