Online Sports Betting Overcame the Crisis

The coronavirus since it has been circulating on the planet has brought a large number of business sectors such as restaurants, theatres, and air transport to their knees.

Meanwhile, other industries are doing quite well and are taking full advantage of the health crisis. We are of course talking about the entire digital sector and its related activities: streaming offers, videoconferencing applications, online gaming, online casino, etc.

Others have managed to bounce back and show almost isolated growth. This is the case of online sports betting, such as the betting services offered by 22 Bet. At the beginning of the crisis, they were hit hard due to the cessation of most professional competitions, but business picked up well after the first wave of Covid-19.

Indeed, in the 3rd quarter of 2020 the sector experienced a spectacular growth rebound with a 25% increase in turnover, a record. The number of bettors also reached unprecedented highs.

A record 3rd quarter

Betting odds

The sports world was severely impacted during the first wave of Covid-19 in February-March 2020. The various governments suspended all professional sports competitions due to the epidemic. This brutal stop was a hard blow for online gamblers and sports betting sites.  The sector experienced a sharp decline in the second quarter of 2020. However, as soon as sport resumed its rights while respecting all health measures, the sports betting world quickly recovered.

Indeed, the figures for the 3rd quarter are particularly good in terms of turnover. Overall, compared to the previous quarter, the market jumped 25%. Compared to the 3rd quarter of the previous year, the sports betting market grew by 17%. A truly exponential evolution.

Public enthusiasm

Not only is the turnover of online sports betting sites doing well, but also the number of bettors who log on. In the 3rd quarter of 2020, more than 2.7 million players were registered, which corresponds to an increase of 29%.

Confined or prevented from gathering in stadiums or bars, people seem to have turned to online sports betting platforms as soon as competitions resumed.

Fans have recovered their habits while new players have arrived en masse to try their luck for the first time. It seems that they have developed a taste for it, the record numbers of online betting seem to prove it.

The market has completely recovered in the space of a few weeks.

The most popular sports

Some disciplines are more attractive in terms of sports betting than others. Historically, the competitions that receive the most media coverage are the most popular. If all alpine skiing competitions were broadcast, it is certain that there would be more interest in following and betting on this sport. However, the most mediatized sport and also, it must be said, the most practiced in the world is soccer.

So it is obviously soccer betting that is winning the online sports betting market. It alone capitalizes 60% of the bets and generates a turnover of $2.70 billion. Next come tennis, basketball and rugby.

With the soccer Euro and the Tokyo Olympics scheduled for this summer, sports betting sites still have a bright future ahead of them.

Jodie Pink Written by:

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