Sports betting revenue down, but still coming in amid pandemic
When games started getting canceled in mid-march, it was clear that COVID-19 was going to have a big impact on the sports betting industry.
“We kept putting up stuff and they kept canceling stuff,” said Nick Bogdanovich, the director of trading for William Hill U.S. Who says business has, obviously, taken a big hit.
“If I were to guess I’d say business is off 80-90,” he explained.
The bets that have been taken, have been done on the company’s mobile app, and the sports that are being bet, probably come as quite a surprise.
“Eventually we wound up with chess, judo, sumo, and Russian ping pong,” Bogdanovich stated.
When asked about COVID-19 leaving an impact on the industry and pushing people online, Bogdanovich said that was already what was happening.
“The trend has been more towards mobile betting anyway. When we started it was 20% now it’s closer to 65%. Once you get it in your hand the convenience factor is off the charts.”
Like everyone else he says he doesn’t know what to expect in regards to the return of sports, but he says the first sports he expects to see back are NASCAR, golf, and mixed martial arts.