Canceled Sports Events: Sportsbooks Gets Creative with Their Wagering Menu
March has always been an exciting time of the year for many sports fans all over the world. This is when many major leagues would close and end their season. However, because of the current situation, many of the most-awaited sports events all over the world got canceled or postponed.
Some of these events include the remaining matches of the English Premier League, the Indian Premier League, the rest of the NBA season
, and March Madness in the United States. With all these canceled, sportsbooks or bookmakers are also definitely affected.
Bookmakers just don’t have much to offer to their players because of this. Aside from that, many land-based casinos and bookmakers were forced to temporarily close their doors in the efforts of the government to contain the spread. However, online bookies like MelBet
are still operating.
Now, since major sports events are now canceled or postponed, you may be wondering what is left for you to wager on then. The truth is that there really is not much in terms of sports. However, online bookmakers are trying their best to book something for you and this means that you might start seeing odds that you don’t usually see on your favorite betting site before.
Lance Taylor who is a long-time radio personality
based in Birmingham and also has his own betting subscriber site talked about how what’s happening right now feels like the first time for the betting industry. Yes, sports had a bit of a hiatus during the 9-11 attack but it was only for less than two weeks.
Taylor said, “It’s the first time in my lifetime being involved in sports gambling where everything has gone silent. Outside of Ultimate Fighting Championship coming back in April, we’re looking at another two or more full months of nothing to wager on.”
Todd Furham who has been covering the sports betting industry for a while now also spoke about how bookmakers are dealing with the situation. Furham said, “They’ve [bookmakers] had to find some of the secondary soccer leagues out there,” Fuhrman said. “For example, one book out here takes bets on Belarusian soccer, and the Nicaraguan Premier League, something that they never would have offered previously.”
He also explained how bookmakers are financially affected
by this. Losing March’s volume on sports betting, particularly in Las Vegas, means losing around half a billion dollars. Based on trends, about 70 percent of that would have come from March Madness if it wasn’t canceled.
Now, online casinos and bookies choose to continuously operate during this time because it makes a lot of sense and because they have to. It makes sense because people are now trying to stay safe indoors and this could be a great opportunity for bookies to gain more followers.
They have to continue to operate because they are trying to remain in business. The pandemic is also affecting the worldwide economy and the sports betting industry is suffering greatly from this.
The temporary closure of many land casinos has put a lot of people jobless in the next few weeks. Land bookmakers are not earning money and they have to find ways to help and support their employees in this trying time.
This is why land casinos and bookmakers are now shifting their focus towards their online platforms and audiences. It’s their way to remain in business and not have to furlough most of their employees.
However, even if they remain operational online, bookmakers are still faced with a challenge. The lack of sports events means experiencing a scarcity of odds
that they can offer to their customers. This is why they are forced to get creative with what they put on their wagering menu.
Some bookmakers have already included betting on the weather in different countries and cities. There are also odds on political events. Even odds on which words president Trump would say the most in his speech are also available for people to bet on.
Other events that can be wagered on include TV show outcomes like whether a male or female will be composing the finale song on American Idol. Other TV shows that have odds to be wagered on are The Voice and Big Brother.
It may sound like the sports betting industry is getting silly because of these odds but many people actually appreciate it. There still are sports to be wagered on like secondary football leagues and sumo wrestling in Japan. Some sites also offer esports and daily-fantasy sports betting too. What’s really important is that they remain in business before all major sports events come back on and that they have something available for their customers.