Coronavirus made its adjustments in all spheres of life and betting industry was no exception. The cancellation of the key sports competitions (Summer Olympics, European Football Championship, Formula 1) significantly reduced the betting lines and the revenues of betting offices. However the business has survived and found new directions and vectors. How bookmakers are recovering from the pandemic, and what kind of bets on events are now popular, let’s look below.
Alternative betting trends
A large part of the former bookmakers’ activity was sports betting. But since there were fewer sporting events, the freed niche had to be urgently occupied by something else. And cybersports successfully managed to compensate for the deficit of duels. According to recent data, bets on cybersport events have increased by 60-100%, depending on the region and bookmaker company. And the revenue of bookmakers from betting on computer games tournaments in 2020 is $ 14 billion. And if previously they were offered only by a single portal, today almost all of them. Also players began to bet more often on events from categories:
- show business;
- film awards;
- TV show.
some bettors have even started taking bets on the weather, so there is definitely still room for business to grow. And there is such a tendency that about a quarter of the players who got into the bookmaker’s portal because of some specific bets, eventually start betting on other sports or events as well.
New marketing tools
People now have the opportunity to play slowly and choose their bookmaker more carefully. That is why many companies began to work seriously on their reputation and search of new sites for advertising. First of all, they worked out their weak points, paid attention to the quality of user feedback and individual approach to different issues. New areas for advertising campaigns were:
- popular bloggers;
- dating services.
Betting companies often become sponsors of various cybersports competitions. This niche has not only brought the betting industry billions of profits, but is also rapidly developing in its own right. Therefore, bookmakers correctly reasoned that the sooner they organize integration with high-profile events and famous cybersportsmen, the more money and recognition it will bring in the future.
Representatives of the betting companies more actively engaged in information education of their customers. Not only the traditional promotional offers in the form of bonuses and freebets began to appear in the mailing lists, but also the stories about the different tournaments, less popular sports in order to interest users.
Business process optimization
The internal organization of business was also changed by many companies because of the coronavirus, but the changes were so justified that they will still be relevant after the quarantine. For example, many bookmakers moved some employees to remote work, it did not reduce the efficiency of their work, but allowed to reduce costs. Some of the bookmakers have moved completely to the Internet, and many of the closed betting shops will not reopen, as it is more profitable for the companies to accept online bets. However, the representatives of the largest betting portals doubt in the complete transition of business to the Internet, as they note that there are still many customers for whom the offline format of interaction is more preferable. Some like to receive their winnings in cash, others like a personal service.
The post-pandemic world will never be the same, but the vast majority of bookmakers are positive about the future of the betting industry. Conscientious companies not only managed to cope with all the difficulties of the period of restrictions, but also gained invaluable experience, which will help in further development.