Where NCAA Basketball Betting 2020 is at After the Corona Hit
Posted by: Hilbert Mayer
NCAA was among the groups that suspended the entire 2019-2020 tourneys to ensure the safety of the players and the fans. According to the American Gambling Association (AGA) report, the NCAA basketball tourney lost nearly $9.1 billion in bets only due to the Coronavirus pandemic. This loss was severe because of the March Madness tourney that attracts a lot of bettors. Besides that, NCAA basketball betting 2020 also got a ranking among the best in both retail and online betting. We are going to look at how sports betting has been affected by the canceling of sports globally.
The NBA cancelled its 2020 season after a player tested positive for COVID-19. The league further went on to suspend other tournaments to protect players and fans from being infected with the virus. With all games postponed indefinitely, gamblers have had to look for alternatives. Sites like betnow.eu are offering gamblers with esports as alternative games.
NCAA Basketball Betting 2020: Shutting down of casinos
Casinos all over the United States suffered greatly from the cancellation of basketball tournaments. This is because many of the people who normally attend as spectators could not attend the NCAA games. This results to the absence of customers for the casinos. Apart from that, the ban on social gathering as a way of controlling the virus forced all casinos to close. They therefore could not even benefit from their few regular gamblers.
Ban and restrictions on online gambling by authorities
The venturing of sport betting into online gambling is a threat rather than progress. This is according to some authorities and humanitarians reports from across the globe. The reports suggest that people might get used to virtual reality on online betting to the point of it becoming an addiction. This has consequently made some authorities to restrict and others ban online gambling. For instance, the government of Latvia has banned online gambling until the Coronavirus Pandemic ends. Spain has also restricted gambling advertisements on both TV and radio to four hours a day only, that is between 1 am and 5 am.
Virtual sports in place of live sport
Until the Corona pandemic, the saying was always been ‘ as long as the live sport is there, betting is also there.’ The ban on gatherings has nullified this statement. However, online betting has taken another turn to g. Sportsbooks are not turning virtual games and online casino games. However, this is not the case for all bookmakers. Some are still affected by the loss of large markets. As much as this might be a solution to online betting, it still doesn’t suffice.
The rate of online gambling over the few months has sky rocketed as compared to the previous years. This increase in bettors can be attributed to the virtual games that are available online which take lesser time than live sports. For instance, a live basketball game will take a minimum of 40 minutes. This time is enough for several virtual games which take at most 4 minutes each. Since the games are computer-generated, one game can follow another immediately. This provides people with many opportunities to place many wagers in just a day.
Room for creativity
Online Sportsbooks that didn’t delve into online games are getting creative by venturing into other fields like weather and politics. They are looking for different ways to keep their customers engaged and trying to earn money despite the difficult times. A good example is Bonava, which is trying to offer lines on weather for two weeks and then launched into politics. Other sites in the US, such as Draft King, have been attempting to bet on the Oscar and democrats debates. However, not all sites can decide to experiment on any other areas betting as the law doesn’t support such.
More subscribers for bookmaker and gaming companies
Sports bettors who are out to look for a side hobby that will quench their thirst are slowly adding to the membership list of most online bookmakers and gambling companies. Likely, these bettors will eventually end up in these sites even after the pandemic is over. The field of virtual gaming will grow tremendously during this period, something that will popularize online gambling. However, if the pandemic restriction doesn’t come to an end soon, this growth might cause online Sportsbooks to forfeit live sporting events and major mainly on virtual games.
NCAA basketball betting 2020-2021
After the canceling of 2019-2020 tournaments, fans and bettors have already started predicting the odds of different teams to win games in the 2020-2021 seasons. Despite the unawareness and uncertainty of when the pandemic will end, NCAA basketball betting 2020 is not taking a break. Many betting sites now are taking bets for the next March Madness tournament come 2021