Coronavirus And Sports Betting – The Effects Of Covid-19 On Sports Betting
Doctors first diagnosed COVID-19 as a novel outbreak back in December, and the World Health Organization declared the disease an international health emergency in January, but its effects on sports were not fully felt until mid-March. Most major sporting leagues around the world suspended or canceled play to comply with social distancing guidelines and protect their players and fans.
There is now no firm timeline on when most major sporting events will resume, and many will not be played at all in 2020. It goes without saying that all this chaos has been hugely detrimental to both sports bettors and sports betting firms around the world, as there simply aren’t many events to bet on.
Sportsbooks have begun exploring creative solutions to this problem by introducing unconventional betting options, but this is only putting a band-aid on a gunshot wound. Combined with the economic chaos and the uncertain psychological effect it will have on consumers, and the future of sports betting is looking very uncertain.
Sports Betting During The Coronavirus Pandemic
While most major sporting leagues around the world have either canceled or suspended play, there are still a few popular legal sports betting options. The Belarusian and Nigerian Premier Leagues have gained some notoriety as the only two major soccer leagues in the world to continue to play during the COVID-19 crisis.
Other sports, including esports and table tennis, have been able to continue operating relatively unabated. Online sportsbooks have also embraced new betting options, including betting on the weather and video game sports simulations, to keep hardcore bettors entertained and to maintain at least some streams of revenue. Some of the most popular things to bet on now are:
Weather – Bet on the over/under of temperature highs and lows in various major cities like Chicago, New York, Toronto, Phoenix, and more.
Sports Simulations – Bet on the money line, the spread, and the over/under on realistic simulations of real-life sporting matchups. These simulations are conducted through popular video game franchises like Madden and NBA 2K.
Virtual Sports – Virtual sports are like a condensed, simulated version of regular sports. Players bet on a fictional game, then a computer simulates that game, displaying the game via computer-generated highlight reels. Virtual sporting events run constantly and each game takes only a few minutes.
Politics – The United States is in a presidential election year, and there are dozens of futures and prop bets available covering all aspects of American politics. Political betting sites also offer wagers on politics in other countries like Venezuela and Israel.
Stock Market – Dozens of prop bets available in hourly intervals for whether major companies will see their stock price rise or fall. Other interesting market betting options include where they Tesla Cybertruck Gigafactory will be located and the value of the final decimal of each stock market’s daily closing price.
Entertainment – A random assortment of prop bets on pop culture, television, the lottery, and major awards like the Emmys.
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The Rise Of Table Tennis During The Covid-19 Pandemic
COVID-19 has had a dreadful impact on the entire world, including the world of sports, but a handful of entities have benefitted financially from a sudden lack of competition. Table tennis isn’t exactly the Premier League, but it has surged in popularity as one of the only remaining daily sports to bet on. Because the table is nine feet long, meaning that competitors never pass within six feet of each other, table tennis leagues in Ukraine and Russia have been able to continue normal operations. Some sportsbooks have begun handling over $100,000 in table tennis bets every day, and one lucky bettor won $9,700 on a 10-way table tennis parlay.
The NBA Shutdown And The Ensuing Demise Of Sports Betting
The NBA was the first major league in the United States to have a player test positive for the coronavirus. The league acted swiftly to suspend play, quarantine infected or possibly infected players, and do everything in their power to help halt the spread of the virus. The NBA’s decisive action had a cascading effect on other major American sports leagues, which began shutting down or suspending play the next day as well.
This cascading effect also led to widespread closures of retail sportsbooks, and online sportsbooks were forced to pivot to less popular and unconventional betting options like betting on the weather or winning lottery numbers. The NBA shutdown of March 11 will be remembered as a watershed moment not just for sports betting, but as the moment that confirmed COVID-19 had become a nationwide emergency. Sportsbooks are still offering NBA betting odds on who will win the 2020 NBA championship, and game lines will be made available once a schedule is set for the league’s return.
Timeline of the NBA Shutdown (all times EST)
2:43 a.m. – The NBA considers moving all games to cities that have not yet been impacted by the Coronavirus.
3:28 pm. – The Golden State Warriors announce that they will play their home game later that night without fans. And that they will be postponing all events at Oracle Arena until March 21.
9:27 p.m. – Utah Jazz center Rudy Gobert tests positive for the coronavirus.
9:31 p.m. – The NBA announces it will be suspending the 2019-2020 season indefinitely.
12:34 a.m. – The NBA G League suspends its season as well.
1:44 p.m. – Utah Jazz guard Donovan Mitchell announces that he has also tested positive for the coronavirus.
10:57 p.m. – Commissioner Adam Silver releases a letter to NBA fans stating that the league intends to resume the season when it becomes safe.
12:30 p.m. – USA Basketball suspends all operations.
8:05 p.m. – Sources report that Detroit Pistons forward Christian Wood has tested positive for the coronavirus.
3:57 pm. – The Brooklyn Nets announce that four players have tested positive for the coronavirus.
5:24 p.m. – Kevin Durant confirms that he is one of the four players to test positive.
1:53 p.m. – Players are directed not to travel outside of North America.
6:30 p.m. – The NBA directs teams to close their practice facilities to players and staff. The league is now fully shut down.
March Madness Was Over Before A Bet Was Made
Timeline of College Basketball Shutdowns (all times EST)
11:30 a.m. – The Ivy League cancels all remaining conference tournament games.
6:16 p.m. – The NCAA announces that March Madness will be played without fans.
11:42 a.m. – The Big Ten cancels all remaining conference tournament games.
11:45 a.m. – The American Athletic Conference cancels all remaining conference tournament games.
11:47 a.m. – The SEC cancels all remaining conference tournament games.
12:15 p.m. – The ACC cancels all remaining conference tournament games.
12:17 p.m. – The PAC-12 cancels all remaining conference tournament games.
12:40 p.m. – The Big 12 cancels all remaining conference tournament games.
1:09 p.m. – The Big East cancels all remaining conference tournament games during halftime of a matchup between Creighton and St. John’s.
1:54 p.m. – Kansas cancels all athletic travel and suspends home and away events.
3:05 p.m. – The ACC suspends all athletic activities indefinitely.
4:16 p.m. – The NCAA cancels all remaining winter and spring sporting events, including March Madness.
7:11 p.m. – The NCAA votes to grant a one-time eligibility waiver to seniors on spring sports teams. This waiver does not apply to basketball.
11:30 a.m. – The NCAA grants an immediate eligibility waiver for all incoming freshman recruits to account for recruits who didn’t have the chance to take the SAT or ACT, or whose academic qualifications for scholarships weren’t yet certain.
While the NBA shutdown was surreal, the flurry of college basketball cancellations the following day defied belief. The college basketball postseason is annually one of the biggest draws for sports bettors. The NCAA Men’s Basketball Tournament, also known as March Madness, is the crown jewel of the sports betting year, with 67 single-elimination games in less than three weeks.
Both sportsbooks and the NCAA itself rely heavily on March Madness to generate revenue. After it was canceled, it became clear that COVID-19 was going to irreparably alter the worlds of college basketball and sports betting. College basketball betting odds for 2021 have already opened, with Villanova, Gonzaga, and Virginia listed as the top three favorites to win the title.
Sports That Have Been Effected By The Corona Virus
The NBA’s cancellation triggered a flood. Nearly every major sporting event in the world has now been postponed or suspended indefinitely, with the NCAA cancelling all remaining spring college sports. Some notable events affected include Wimbledon, which was cancelled for the first time since World War II, and The Masters, which was postponed until November. The closures are causing leagues to hemorrhage money, which has led to a scramble to find an alternative solution that would allow play to resume. The trendy proposal is a condensed schedule where games are played from a centralized location without fans and players are quarantined when they aren’t playing, but the logistical challenges of such a solution are immense.
- NBA –suspended March 11; no date for a return
- March Madness –cancelled March 12; will not bet played
- NCAA Spring Sports – cancelled March 12; will not be played
- NHL –suspended March 12; possible return in July
- MLB – delayed March 12; speculation about a May or June return.
- ATP – suspended March 12; slated to return July 13
- MLS – suspended March 12; possible return on June 8
- The Players Championship – postponed March 12; scheduled August 6-9
- The Masters – postponed March 13; scheduled November 12-15
- NASCAR – suspended March 16; races to resume May 9 (no make-up dates yet for postponed races)
- Kentucky Derby – postponed March 17; scheduled for September 5
- Wimbledon – cancelled April 1
- Premier League –suspended April 3; mid-May return at the earliest
- NFL – NFL Draft moved to remote format April 6; season scheduled to begin September 3
- College Football – spring activities suspended March 12; season still scheduled to begin August 29 (delayed start is more likely though)
President’s Trump’s COVID-19 Call With League Commissioners
After meeting earlier this month with business executives from a variety of industries, President Donald Trump has announced his plan to “re-open America”. To help plan this re-opening, he has named all major sports league commissioners, along with Robert Kraft, Jerry Jones, Dana White, and Vince McMahon, to an advisory committee. With his “re-open America” plan, Trump intends to see live televised sports return. This would undoubtedly be a huge relief for sports bettors across the country who have been searching desperately for live events to bet on.
Valid concerns have been raised regarding the danger Trump’s plan poses to public health, however. Empirical data suggests that re-opening any nonessential businesses right now could lead to a massive spike in COVID-19 transmission, and any sports injuries incurred would divert vital medical personnel away from the already overwhelmed hospital system and its response to the disease. Any plan to re-open the country will need to be tampered with sound advice from medical and epidemiological professionals to ensure that it is conducted in the safest way possible.
When Will Major League Baseball And The NBA Resume After Covid 19?
The NBA and MLB have been the two leagues hardest hit by COVID-19 so far, and executives for each have begun exploring schedule alterations that would allow the season to begin in late spring or early summer. There is no concrete timeline for when either sport might return. Estimates have ranged from mid-May to July. This situation is completely unprecedented in modern times, and in response, officials have been exploring unconventional solutions.
The NBA has considered the idea of boarding all 30 teams in empty Las Vegas hotels and holding a shortened regular season and playoffs in empty arenas, quarantining its players between games. Major League Baseball considered a similar proposal wherein teams would play doubleheaders at spring training ballparks in Arizona. If either one of these solutions is adopted, they could have an interesting effect on both NBA and MLB betting. The lack of certainty or precedent would likely increase the variance of betting odds, allowing smart bettors to shop lines.
Will The NFL Start On Time After The Corona Virus?
Right now, the NFL is still scheduled to begin its season with the annual Thursday Night Football opener on September 3. Offseason activities have been heavily affected, however, and there are murmurs about internal talks to delay the start of the season. Even if major sporting events are deemed safe prior to the start of the NFL season, teams could need extra time to get in the necessary offseason strength and conditioning work, as well as adequate practice time to be ready for the season.
A delayed start is probable for both the NFL and college football, and it is possible that games will be played without fans. Outright cancellation of play should not be expected, however. NFL betting is still available, with options for futures bets on division results, who will win the Super Bowl, who will be named league MVP, etc. The NFL Draft will also likely experience its highest volume of bets ever. Sportsbooks already list hundreds of different draft prop bets, and more will likely be added as the event draws closer.
Fight Island – The UFC Pushes The Boundary Of Live Events
UFC President Dana White has taken an interesting approach to contend with the COVID-19 pandemic. White has been reluctant to follow in the footsteps of other leagues in barring fans or suspending play, and he has made it clear that he intends to get the UFC back to a normal schedule as quickly as possible. His newest proposed venture is perhaps the craziest of the entire pandemic—a private island for hosting UFC fighters called ‘Fight Island’.
Many international fighters have had trouble arranging travel to the United States. The location of this proposed Fight Island is not yet clear, but it would function as both a staging grounds for UFC fights and as a place for international fighters to live and train to ensure their safety and the safety of their opponents during the crisis. White has claimed that Fight Island will be ready to host events some time in May. There is an outside possibility that UFC 249 could be hosted from this island. UFC betting odds are available on online sportsbooks with guaranteed refunds for events that are cancelled.
WWE Deemed Essential In Florida – What Does That Mean For Bettors?
The World Wrestling Entertainment (WWE) has been declared an essential business by Florida Governor Ron DeSantis. The biggest brand in professional wrestling is authorized to continue to host fights even during the major shutdowns due to the COVID-19 pandemic. DeSantis explained his reasoning being that people who are forced to stay home would be starved for content. Making entertainment an essential business for American society. This means that sports bettors will find betting lines for the major WWE fights at online sportsbooks, giving another avenue for bettors to wager on sports during the shutdowns. This also allows room for other sports to possibly be able to continue in Florida by the same metric.
How Will COVID-19 Affect Sports Betting Revenue?
Sportsbooks around the country have begun reporting March sports betting revenue, and the results are alarming, to say the least. Pennsylvania and New Jersey, two of the largest sports betting markets in the country, experienced a roughly 60% decline in betting handle during a shortened March of sports betting. April will see revenues decrease even further as there are almost no remaining major sporting events to bet on. Additionally, every casino in the United States has now closed in response to COVID-19, and every major brick-and-mortar sportsbook along with them.
With no timeline for when business might resume as normal, and some estimates indicating that large public gatherings might not be safe for another 18-24 months, the first 11 days of March will be the last reliable revenue stream many sportsbooks could see for the foreseeable future. Additionally, the economic havoc caused by the disease could have unforeseen effects on consumer behavior. Consumer survey groups have found that many consumers plan to reduce overall spending on gambling, so even if life resumes as normal within the next few months, revenues could still decline sharply.