Sportsbook and the corona

[caramba]

Apologies if this has already has been discussed.

Lots of companies in our society are taking a big hit due to the corona virus, I can see some going under.

What about sportsbooks? How will they fare when more and more sporting events are cancelled? While they will not lose money through bets, they will not make any either and will still have operational costs.

Should we be worried about our funds with sportsbooks? I only have accounts with a very select few (and big) sportsbooks and I'm thinking they can survive a few months of reduced action, but who really knows?

[moojoo]

Why. Its best time for books,everybody is at home and betting.

[caramba]

on virtual sports?

[Vyasports]

maybe online casino will keep them going...

[lonnie55]

Good thread. Had the same thoughts as OP. I think we will see a bunch of garbage books disappear during the next few weeks and months. A lot of books have little to no working capital. They depend on cash flow. As cash flow goes down while customers withdraw their money, a lot of books will struggle and some will eventually go broke.

I would not worry too much about the big players though.

[lonnie55]

on virtual sports?

moojoo has a good point. Although there will be less sports competitions players can put their money on, online gambling in general, especially casino games and slots, should benefit from the closure of terrestrial offers which is already the case in Italy.

[craftbrewer]

Why. Its best time for books,everybody is at home and betting.

Because a lot of sport events have already been cancelled. As to soccer, all italian and spanish leagues have been suspended. Other european soccer league will probably get suspended in the next few days, including Champions League and Europa League. So there will be no sport events to bet on.

[caramba]

moojoo has a good point. Although there will be less sports competitions players can put their money on, online gambling in general, especially casino games and slots, should benefit from the closure of terrestrial offers which is already the case in Italy.

I did not know that about Italy. That's good news then.

[SBE]

Also big tennis tournaments (I call them both "halfgrandslams"). Indian Wells in USA has been cancelled earlier (March

9 till March 22).

And similar further tournament, Miami (also lasting 2 weeks), will be probably cancelled, too, (if it was not yet)


because Trump cancelled all flights to USA , for next month ?

[lonnie55]

I did not know that about Italy. That's good news then.

Here are some news from Italian sources:

"Coronavirus emergency makes the online gambling market fly: + 13.9%" https://www.jamma.tv/primopiano/leme...ine-139-191006

"Will coronavirus empower the online gaming industry?": https://www.luccaindiretta.it/in-azi...online/168235/

[caramba]

Also big tennis tournaments (I call them both "halfgrandslams"). Indian Wells in USA has been cancelled earlier (March 9 till March 22).And similar further tournament, Miami (also lasting 2 weeks), will be probably cancelled, too, (if it was not yet)
because Trump cancelled all flights to USA , for next month ?

Looks like tennis will be shut down til mid May at least. Tennis is my main sport, so that hurts.

[SBE]

Looks like tennis will be shut down til mid May at least. Tennis is my main sport, so that hurts.

Me too...

So we will be happy if French Open will take place, at all.

[pimike]

Yes if you got money in smaller books low rated books. I’d be requesting now a payout.

Some of the big ones will also struggle.

Common sense no money coming in and money going out means doors close with some peoples money.

No government bail outs in these countries.

[capitalist pig]

SBR needs to post a sticky telling us what their opinion is of offshore right now. It’s called Sports Book Review, well give us a financial review of the top books, which books can hold up with no deposits and just withdrawals and for how long

later

[hustledouble]

I would guess there might be an initial run on some withdrawals since so much action is cancelled a lot of people are going to take their rolls out feeling like they have nothing to bet on. If you want to not stress about it I probably wouldn't try to do much with your money for a few weeks, withdrawals will probably take longer than usual and everyone will freak out

[ShanghaiBeijing1]

Thanks for kicking this off OP. This was my main concern right after the NBA postponed the rest of their season....figured it would only be a matter of days before other sports followed suit. And now we are here.

I personally don't see any benefit to keeping funds on any sportsbook platform until things begin to stabilize. Most of us want to believe that the bigger offshore players out there will be able to weather the storm, but as we all know, there's no "insurance" mechanism protecting our funds so why take that risk? Particularly when there's no major sporting events occurring in the near future.

I didn't do a full withdrawal of all of my funds but I have done most.

[capitalist pig]

I just put in a wd for half my offshore balance, I dont mind leaving something in the books, but in case of a total collapse at least I will have got half out, I left half because I have not given up on the world quite yet,jmo

later

[lonnie55]

https://blogabet.com/announcements

However at the moment many sports federations from all over the world are effectively suspending all sporting events and we expect soon a full lock down in all sports. With limited betting opportunities available we recommend the affected paid tipster to turn ON the season break option from their Seller Admin.

[chidondollars]

5dimes will survive,if the can survive Tony kidnapping and death,they can survive anything

[Vyasports]

Any books that have Online Casino will survive and IMO after a few weeks there will be more n more people addicted to it...

[lonnie55]

https://h2gc.com/site/assets/Screenshot%202020-04-16%20at%2019.50.31.png

[Optional]

https://h2gc.com/site/assets/Screens...2019.50.31.png

Not down as far as I expected?

[lonnie55]

Not down as far as I expected?

Yeah, casino and games seem to compensate a lot

/ But numbers will be updated week for week and surely drop further...

[Optional]

Interesting report if it is fairly accurate. Worth a click.