WHO officially declared the coronavirus (COVID-19) outbreak a global pandemic.
Because of this a number of sporting events and leagues have taken measures to prevent further spread of the disease either by limiting live attendance or total/temporary suspension of the games.
Among those leagues are all the major Soccer leagues, the MLB, NBA, the NCAA, NHL, and many other smaller leagues and less popular sports.
It’s a massive hit, not only for Bookmakers, Las Vegas and companies, that work in Sports Betting market,…but also for sports bettors around the Globe.
These times can be hard now for all involved in this industry, but we also must understand that those times will pass. When such things happen, we usually have two choices.
We can blame a situation on which we don’t have any influence anyway, or we can focus on small things, that we can do. The question is not only when the sports and all major leagues will be back, but also how many bettors will respond to the situation now.
Two things are for sure: Bettors will not stop betting and Bettors have a lot of times now sitting at home with their phones and computers.
What can we bet on and what can we do during this global pandemic times?
- Online Casino and Poker
Most people bet just for fun and we know that. Casino in the first place is fun and the house will always win, because we basically know the chances for most games and entertainment is what they also describe and promote their business.
Everyone can try luck and there are a lot of people in the past who made a lot of money by playing Casino.
There is of course much more of those who lost, but the fact is, that during pandemic times, when people are at home, they will find a way to have fun and some excitement. Many of them will try luck and most of them understand that this is it. If you can control how much you lose and how much fun money you can afford, online casino can be pure fun.
Completely another story is poker, which is already very popular online. Many sports bettors will take a sit and play poker too – online.
2. Entertainment Props Politics Betting (Celebrity, Film, Movie, Weather)
When it comes to politics, everyone has an opinion and more and more people bet on such events.
Nothing will change for upcoming U.S. elections 2020. It is expeceted that even more people will make a bet now, especially after the Brexit betting and Trump vs Clinton Elections.
The Metro reported, that Vincent Tchenguiz won $1.5 million thanks to betting on Trump. According to the Independent(UK), one unknown gambler won $622,00 on a bet on Trump, and many other bettors placed several six-figure wagers other candidates. With market growing, more and more people bet such things too. Not all like to bet or predict the events from sports.
3. UFC and fighting Betting
UFC and fighting sports are more and more popular in the World. Some of the highest paid sportsman comes from fighting World.
It is Worldwide phenomenon and despite the latest news show that UFC will postpone its next events as the coronavirus outbreak continues, Dana White insists that show must go on. UFC will be one of the first sports back in the action. It is of course much easier to organise such event in quarantine, where small group of people are needed.
Horse racing is there for centuries. It started in the UK in the early 1600s during the reign of King James I and I don’t see it going anywhere soon. Some of the best and richest gambler experts come from horse racing World.
There are countries that postponed their events, but some countries (like Ireland) is set to continue behind closed doors despite coronavirus. This is another great opportunity for many bettors to bet on those events.
5. Virtual Sports Betting
With no “real events” many bettors will turn to virtual sports. The great thing about virtual sport is that can be played nonstop. 24 hours, seven days a week. Virtual sports is simulated using computer graphics and all events are protected by complex algorithms. Betting on those events is a new phenomenon supported by new technologies.
eSports is a new beast and we should not confuse it with virtual sports. Virtual sports is simulated, while eSports is played by real people. Total eSports viewership is expected to grow at a 9% compound annual growth rate (CAGR) between 2019 and 2023, up from 454 million in 2019 to 646 million in 2023, per Business Insider Intelligence estimates. Markets rely on the growing popularity of the virtual gaming world, which is getting bigger and bigger. Sports and video gaming are already bigger than Music and Movie Industries Combined. We have real players, real teams and the teams have even coaches. Their events are very popular and millions of people watch those events. This is another great opportunity for this market to become even bigger. With very small amount of other sports and leagues, eSports betting is one of the best solutions to bet online. eSports has definitely great future in betting too. Many bettors will start betting eSports now.
7.Learn How to Bet
Hard times will pass and we will be back again. Sometimes life show us what we need to do and sometimes we need to take a step back, so we can then move two steps forward.
This is something people always forget. Sports betting World became a crazy World with social media in last years. It is basically the combination of the hype, marketing and the dopamine, which is very dangerous and has almost nothing to do with the real analytical betting, investing and generating extra income.
If we look around we see everyone selling picks, wrong hopes, locks, winners and all kind of crazy things. There is much more marketers and very good sales persons then good bettors. I explained this here. Not many can show enough big level of knowledge when it comes to betting (understanding the market, probabilities, using models and algorithms for projecting the lines, yield, closing line value,…). After all this was not needed. There was enough hype anyway.
With all those sports, all those leagues, flashy things all around us, Las Vegas stories and all kind of handicappers, that have that huge winner for you,… we all forget what is most important. The knowledge and understanding betting market in the first place.
We forgot that there is no such term as a winner, but only the value and if you can find it. We forgot that the odds are always expressed in the numbers and we need to start using statistics if we want to have a chance to win at sports betting.
The problem of sports betting market is that anyone with 5 minutes free time, can bet on games. This is why the market is considered as a dumb market, this is why 97% of bookmakers win and this is why this market is getting bigger and bigger every year. Many new bettors dream about becoming professional bettors who will have the edge against the market, but not many are willing to invest time, money and effort to learn the basics in the first place.
It is also unique business and the market, where many people are considered as experts, despite they lack of knowledge. It is called a survivorship bias and most people fall into the trap of wrong illusion and false hope. I am sure that lack of sports events and leagues hit hard many bettors, gamblers and those who dream about being a professionals.
But now is the time to learn. Bettors sit at home, with a lot of time and the difference is making now. Some bettors will become better than others. And I hope we already understand that when we are winning at the market, we are winning against others. 3% of people make money because of other 97% lose.
This is how it is and on the long run, we don’t need to focus on “winners”, but on the vlaue and beating closing line, which is directly the result of the market. In other words, if you want to win at sports betting on the long run, you need to outsmart the market.
And this is the best way to become smarter than the rest of the market. Most bettors don’t use statistics in betting at all and they have no clue how to project the odds, lines or totals before they bet. This is a chance for many now, who want to learn and improve. This will have positive consequences later. Most gamblers will not improve at all in the meantime.
Sports and the leagues will come back and we will be back in that race of daily bet again, but the time and the effort you put now for being a better bettor will pay off on the long run.
Remember that most handicappers promote only short term results, which creates hype. The reality is that only 3% will have positive lifetime record. And those are bettors who have knowledge and skills. Like in any other sport or business. The Best Professional Athletes work hard during off-season and they are training hard now too.
This is what the best and professional bettors should do now too. There was no better time to learn. Plenty of time. No sports to bet. Whole population is at home.
There is more ways to start learning about the betting market and probabilities. There are couple of great free courses, where you can learn about basic statistics, like khanacademy or edx.org.
Or you can start with MY FREE BETTING COURSE, where you can learn how to start using statistics in google sheets. It is up to you how you will deal with this crisis. But definitely, nothing is lost, soon things will be normal again and this is the best time to learn about betting. There was no such opportunity in the past, because of constantly daily betting.
We also don’t know if we will have such opportunity in the future once we come back to normal life. Focus on things you have in control. Sometimes the things that looked very bad at the start, turned out to be the best. I believe this is the time to learn and become better bettor.
I wish you and your families all the best during. Keep safe. Stay strong. Take Care. We will be stronger and wiser when this mess finish.