Major sporting events are slowly ramping up around the world and with them the drama and surprises, not all of them good for sports betting operators.
PaddyPower concedes it was thumped to the tune of GBP580,000 after Bayern Munich humiliated Barcelona with an 8 goal to two defeat in the Champions League Quarter Finals in August.
Still, at least the live events are back and in this edition we dedicate our Focus Section to betting on sports. In our first article, some leading sports book companies share with us their experience of getting through the Covid-19 shutdowns and how flexibility and a focus on eSports and virtuals has helped them through to the other side.
They also discuss the booming prospects for the market in Asia and hold out the tantalizing hope that more jurisdictions around the region may be tempted to regulate their markets post pandemic.
In our second article, we focus on India. A bill to regulate sports betting there has lapsed due to general elections and resurrecting it hasn’t been a priority for the new government. However, fantasy sports are booming. As a skill-based game, it is considered legal, although experts warn it’s important to ensure your business model truly does require a preponderance of skill.
The sector took a breather from its stellar growth during the pandemic-mandated sporting hiatus, but is expected to come back with a vengeance as the India Premier League cricket tournament begins mid month in the United Arab Emirates.
In our third piece, sports betting expert John English, who has more than 30 years of experience in the business, working in multiple jurisdictions, offers his views on the impact of the Covid-19 pandemic on the global sports betting industry. This year the unthinkable happened with all global sporting events cancelled, leaving the sector reeling in shock.
But adapt it has, and there is light at the end of the tunnel. However, John argues that it’s high time for companies to have the ability to have online channels available to help spread the risk of events such as this on the land-based sector.