According to the latest research by the Malta Gaming Authority (MGA), Malta’s licensed sports betting operators are facing a 40% decline in annual forecast revenues for 2020.
A survey carried out in April by the MGA information and research unit showed that B2C license holders predict a 40% drop in revenue due to the cancellation of sporting events on the outbreak of coronavirus.
A total of 151 B2C operators were included in the Covid-19 impact study. Total revenue from gambling (sports-betting) is expected to fall by 12% in 2020.
The downward trend continues in other countries as well.
Huge drops in turnover of Italian sports betting operators were announced.
Revenue from online sports betting for the 18 largest bookmakers in Italy dropped dramatically between March and April when Covid-19 stopped most sporting events.
New market data show that revenues from online betting on the largest sports operators in the country fell by 57% to just EUR 19.4 million in April, compared with EUR 45.6 million in March.
Revenues in March have already fallen by 43% from EUR 80 million recorded in February, which was the last month in which the sports schedule was running smoothly.
In the UK, The British Horseracing Authority (BHA), fearing huge financial losses, sought to open the racetracks in May. According to estimates made by this organization (in April), if the ban continues until the end of June, the horse racing industry could lose about 200 million pounds.
The loss anticipated by BHA would account for around 13% of the annual revenue from this discipline, which, according to its representatives, may result in “significant economic and social difficulties.”
BHA to deal with the current problem caused by the COVID-19 virus established the “Resumption of Racing Group“, which is a group whose task is to find the optimal solution for the safe resumption of racing. One of the group’s first plans is to open several racing tracks where teams and competitors would be properly separated to comply with quarantine rules.
As you can see, saving business goes in the right direction, because horse racing is set to return on Monday, June 1, with Newcastle planning to host the first meeting since lockdown began.
This is great news for us traders. Pre-race Horse trading is a great place to practice scalping.
Remember to start with small stakes because you don’t want to rescue the industry with your own money!
