sports betting industry, sports industry, coronavirus, profit losses,

It’s not a surprise to everyone that the economic status of the world is suffering a major loss after the COVID-19 pandemic has worsened. Many businesses are closed, and most countries are implementing total lockdown to avoid the spread of Coronavirus. It is to make sure that the health of the public is protected even if it leads to loss of every business’s revenue. 

One of the markets severely affected by the COVID-19 pandemic is the sports betting industry. Earlier this year, the NBA games and the March Madness were canceled, and this alone caused a lot of havoc to the sports betting market. The profit loss by these two events bought by sports betting is one thing that Coronovirus has taken away. 

Horse racing is another sporting event that the COVID-19 has affected. The U.S. Triple Crown Series, which is the largest horse racing event in America, could not escape this pandemic. Kentucky Derby odds, Preakness Stakes betting lines, and Belmont Stakes bets were already circulating around the sports betting industry, yet are currently put on hold. 

Although the horse racing shows are not canceled but only postponed, it still upsets the flow of the sports betting industry. That’s why bookmakers and sports betting entities are desperately taking alternative solutions to cope up with their loss. So, how does the sports betting industry maintain a stable return amidst the COVID-19 outbreak? Let’s discuss one by one. 

Taking Advantage Of Weather Bets 

It may sound funny for some, but some casinos and other online bookmakers are taking advantage of weather bets. Actually, these weather bets are already existing even before, but only a few punters are risking for this game. Some bettors believed that it’s a no-brainer game because weather forecasts are reported, but you’ll never know because the weather can change at any given point. 

Weather bet games operate the same as to how NFL Proposition bets work. A specific casino or online bookies can set a proposition like this:

  • What is the maximum daytime temperature in Dallas on March 25, 2020?
  • Is it going to be rainy or sunny in Indianapolis on March 27, 2020?

A bettor must only answer the proposition set for a specific amount established by the bookie. If you get the right answer, then you can win the betting game. 

Going Back To Online Poker Games 

During the early years of betting games where a sporting event did not develop betting categories, poker bets had already existed. Even today, poker is still a famous casino and online gambling game you can play. It never grows old and even garners quite a lot of popularity when it comes to betting games. 

In the given COVID-19 outbreak, the sports betting industry is promoting online poker games as an alternative solution to maintain a good return in the market. Actually, playing poker games in your home is a win-win situation. You get to entertain yourself while you are in quarantine, and at the same time, you can earn and help the gaming industry when you wager and win. 

Taking Advantage of Fantasy Bets

Fantasy sports are another form of an online betting game that you can access through your phone or PC. It is popular with some football enthusiasts where you have to create a virtual team and play the game. The rules are the same as a real football tournament, and you must play fairly. 

In line with this, there are associated betting categories for the fantasy sport you play. The betting games are the same; however, the prize can vary depending on the amount set by the bookie through the wager they get from all the bettors. 

Holding On To Virtual Horse Racing 

Virtual horse racing is the same as a fantasy sport. You do not need a real and live horse racing show to bet. Some online bookies are creating virtual horse racing tournaments that you can directly download and gamble. 

The horse race betting games still have the same category and type, and the rules are the same. However, the amount you can wager and play varies. For horse racing enthusiasts who would like to hone their betting skills while waiting for the U.S. Triple Crown to commence later this year, Virtual Horse Racing is an excellent training ground to undertake. 

Takeaway 

With the chaos brought by the COVID-19 outburst, everyone is affected. From large scale business markets down to the lowest ones, the world is seeing a decline in the economy. Even the sports betting industry is suffering a painful loss due to postponed events. So, to make sure that the sports betting market is maintaining a stable return, alternative betting games have made their way into the market and allowing bettors to wager money at the comfort of their homes.

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