The Covid-19 pandemic has had a profound impact on many aspects of life, including sports betting. With the cancellation or postponement of major sporting events, such as the Olympics, the Euro 2020, and the NBA season, sports bettors faced a sudden and unprecedented loss of betting opportunities. How did they cope with this situation, and what are the implications for the future of sports betting?
One of the main responses of sports bettors to the pandemic was to shift their attention to other forms of gambling, especially online. According to a survey conducted by the UK Gambling Commission, online virtual sports betting increased by 88 percent and online poker by 53 percent in March 2020 compared to the same month in 2019. Similarly, in the US, where sports betting was legalized in 21 states and Washington, D.C., by 2020, online gambling of all forms surged as casinos closed and people stayed at home.
The trend of online gambling was also observed in other countries, such as Australia, where a 2020 survey found that almost one in three gamblers signed up for a new online betting account during COVID-19, and one in 20 started gambling online. Online gambling platforms offer a variety of games and options, such as slots, poker, casino gaming, virtual sports, esports, and live sports betting. Some of these options may appeal to sports bettors who are looking for alternative or novel ways to gamble on sports-related outcomes.
However, this transition to online gambling also posed significant risks for problem gamblers, who were more vulnerable to the increased availability and accessibility of gambling platforms, as well as to the stress and anxiety caused by the pandemic. Some experts warned of a “ticking time bomb” of gambling addiction, as people with gambling problems could lose large sums of money with a few clicks on their smartphones, without adequate support or regulation.
According to a study by researchers from Oxford University and Warwick University, regular gamblers were more than six times more likely to gamble online during COVID-19 compared to before the pandemic. The study also found that problem gamblers increased their time and money spent on gambling by 23 percent and 11 percent respectively. Problem gambling can have serious consequences for individuals and society, such as financial difficulties, mental health issues, relationship breakdowns, crime, and suicide.
To address these challenges, sports betting companies and regulators have taken some measures to protect consumers and promote responsible gambling. For example, some companies offer features that allow players to set limits on their deposits and spending, or to self-exclude themselves from placing bets for certain periods of time. Some regulators also impose fines and penalties for violations such as operating unapproved games or activating accounts for people on self-exclusion lists.
However, these measures may not be enough to prevent or treat gambling harm, especially as the pandemic continues to disrupt normal life and sports betting opportunities. Therefore, more research and action are needed to understand the impact of COVID-19 on sports betting behavior and addiction and to provide effective interventions and support for those who need it.
Sports betting is a resilient and adaptive industry that has survived many crises and changes in the past. The Covid-19 pandemic is no exception. As sports events resume and restrictions ease, sports bettors may return to their pre-pandemic habits, or they may continue to explore new forms of gambling online. Either way, sports betting will remain a popular and profitable activity for many people, but also a potential source of harm for others. Therefore, it is important to balance the benefits and risks of sports betting in a post-pandemic world and to ensure that it is conducted in a safe and responsible manner.
