Now You Know Why You Need to Be Ready
With what has happened in 2020 - you
should now understand why you absolutely need to be ready for everything that
can happen. As a business owner, having multiple back-ups plans is necessary.
The coronavirus (COVID-19) shutdown the
sports world for months.
Weíve been slowly getting sports back the
last couple months, but weíre far from back to normal.
The good news for bookmakers is that
major US sports are almost back. MLB is back this week and the NBA/NHL will
resume play by the end of the month. Thatís welcome news, as volume has been
down across the board in 2020. Itís hard to generate action when there are no
Bookmakers have done their best since
COVID-19 to release more betting markets.
Your PPH provider was likely putting up odds
for KBO (Korean Baseball), video game simulations and eSports. The one segment
of the market that has seen growth in 2020 is eSports.
If your pay per head bookie isnít offering a
bunch of eSports markets, youíre missing out. A lot of sports bettors have
turned to eSports. While the betting action on eSports is likely going to drop
once major US sports are back, there are going to be some players that continue
Tips for Preparing for a Downturn in Business
Here are some tipsthat we want to
share thatíll help you prepare for a downturn in business:
Reserves: You never know when business can drop
drastically. Maintaining a yearís worth of expenses is a good idea when you
operate your own business.
Adapt: Despite betting volumes tanking this year
because of COVID-19, there are still thousands of bookies staying afloat by adapting.
If youíre with a pay per head that refuses to adapt to the changing industry
then you need to move to a more professional service.
● Expand: If you were a bookie that had a decent percentage of your income coming
in from the online casino, you werenít nearly as impacted during the pandemic.
Itís always a good idea to diversify your business by promoting the casino and
racebook more aggressively.
Preparing for the Future
Well, it looks like major sports are
going to be back soon. As long as there isnít a huge second wave in the
fall/winter, sports should be good to go. There may be no fans at the games,
but everyone's itching for sports to come back and with everyone at home,
theyíll want to place some bets.
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