Tag: sportsbooks

Trusted and reliable online casino sites, such as judi online, allow people to conveniently and safely play poker games for entertainment and of course for money. With such trusted sites, players are sure to have a great time playing. Many find online casinos quite enjoyable and convenient as they could play different casino games using their computers or any mobile device, like their smartphones or tablets. Furthermore, with an online casino, people who love these games of chance could play them at any time of the day as well as anywhere they want.

With the Covid-19 pandemic, people in many nations across the globe are ordered to stay at home to avoid catching this fatal virus. Because of this, online casino sites are rising in popularity since people look for ways to entertain themselves while at home.

Effects on Sporting Events

However, although these online gambling sites are played through the internet, the pandemic has still greatly affected the industry of gambling, most especially the market of sports-betting. Gambling venues are shut until further notice and many counties have closed their borders as this would be the only way for the world to unify and combat the spread of the extremely transmittable and fatal virus. For the time being, just about every major sports league stopped and sporting events cancelled and postponed hitting bookmakers really hard, with share values in registered gambling companies plunging ahead of collapsing markets.

Every March, for instance, billions of dollars are betted on the women’s and men’s basketball playoffs of the NCAA. Because of the pandemic, March Madness didn’t push through. This means that the 8.5 billion US dollars in total bets from about 47 million people in American didn’t happen as per report by Sports Illustrated.

The impact of the pandemic on the world of sports carry on to evolve quickly. To date, no sports leagues in the US are active at this time. The National Hockey League (NHL), National Basketball Association (NBA), Major League Baseball (MLB), Xtreme Football League (XFL), as well as the Major League Soccer (MLS) have indefinitely put off tournaments after Rudy Gobert of the Utah Jazz got a positive result for Covis-19. The Masters was also suspended by the Augusta National Golf Club and NASCAR followed suit by open-endedly suspending their events as well. Likewise, on April 1, the British Open and Wimbledon has declared complete cancellations.

Sports and Futures Bets – What Happens to Them?

After the suspension and cancellations of sporting events, the question now resounding in the industry is by how and what means sportsbooks will deal with futures bets as well as other wagers throughout shutdowns related to the pandemic.

LSR stated that numerous sportsbooks specified that futures bets will be put on hold until there is more defined and clear information on if or when sporting events will continue. Futures markets on postponed or cancelled leagues are also taken down by several sportsbooks as well. For accurate details, you have to study the rules and guidelines of the sportsbook you wager in. For instance, some sportsbooks are making refunds on bets connected to conference tournaments that were cancelled, as well on teams that were eliminated before the cancellation took effect.