Among the international sports competitions that have had their events suspended or postponed are the NBA, Formula 1, ATP tennis tournaments, as well as national football championships such as in England, Italy, Spain, and throughout Europe, and intercontinental ones such as Copa Libertadores and Sudamericana. Not to mention, the uncertainty regarding the continuity of the Champions Legaue and Europa League; and anticipated events such as EuroCopa (European football tournament) and the Tokyo Olympics themselves, the biggest sporting attraction of 2020.
And this had an immediate effect on the stock market of large sports betting companies that have already fallen by 15% and project even greater losses. Operators like William Hill, which has already recorded a 30% share devaluation; and Flutter Entertainment, the parent of Paddy Power, Betfair and FanDuel, predict a loss of up to £ 110 million (US$ 135.6 million) if restrictions on sporting events remain in effect until August.
Observing this fact, Leonardo Baptista, CEO and Co-Founder of Pay4Fun, saw a light at the end of the tunnel in the midst of all this momentary crisis. Second, the lack of sporting events can open up a new opportunity for modes other than sports betting.
“Sports betting needs events to move the markets! The electronic games, at that moment, Bingo, Casino, Slots and Online Poker are ‘immune’!,” said Baptista on his Linkedin.
The businessman does not deny that the trend is a worsening in sports betting, however, despite the lack of competitions consumers will still seek to bet and with them new opportunities arise.
“As much as the tendency is for stocks to fall due to the reaction of the market in general, there may even be a 'migration of gamblers' (after all, there are those who want to play anyway), for other verticals ... some even discovering that they 'like' other fronts besides the sports trader,” he adds.
Leonardo Baptista concludes by saying that it is now in the hands of bookmakers to take advantage of this opportunity and win customers who today are without the betting products they usually consume.
“An advantage that I believe that few thought existed before the pandemic ... Misfortune for some, opportunity for others? Time for Marketing for bookmakers to focus on promotions and bonuses for other verticals?”, he concluded.
Leonardo Baptista is CEO and Co-Founder of Pay4Fun, a 100% Brazilian online payment company that has 24 hour support in Portuguese, providing all the assistance that the customer needs. The company has been growing exponentially today with more than 80 partnerships with the main gambling and betting operators around the world.
Source: GMB
