COVID-19 has continued to have extensive impacts on both the sporting and betting sectors, with data from H2 Gaming Capital showing that the pandemic has resulted in an 11 percent decrease in estimated global gambling revenues by 2020.
According to the new weekly COVID Impact Monitor, the gaming data specialist has downgraded global gaming gross profit estimates from $473bn to $421bn in 2020.
Yet amid the poor retail projections, it has projected that online gambling activity will increase, predicting that the online market will rise from 13.2 percent to 15.7 percent of global gambling revenue.
EGBA members generated € 2,36 billion in online sports betting revenue in 2018, which accounted for 44 per cent of their overall online gambling revenue, according to the European Gaming and Betting Association.
Maarten Haijer, Secretary General of the EGBA said: “It’s sad that so many iconic sporting events are being cancelled or suspended and it will obviously have a negative impact on our sector. But the safety and health of the public is obviously more important and we fully support the sporting authorities and others in the difficult decisions they face right now.”
Big sporting competitions currently postponed or cancelled due to the virus include the top English football division of the English Premier League, Spain’s La Liga, Germany’s Bundesliga and the Uefa Champions League, as well as The Masters Golf Classic, and the UK Grand National Horserace–all major European bookmakers activities.