How the sports-betting industry is responding to the coronavirus pandemic that has halted most major sporting events
- The legal sports-betting industry is scrambling to adapt to the lack of live sporting events, as major leagues cancel or postpone their seasons due to coronavirus concerns.
- Sports-betting companies, and the media businesses that had been rushing to capitalize on the industry, are cutting costs to keep their businesses afloat and finding creative ways to keep fans entertained while much of the sports world is in limbo.
- Betting operators and sport broadcasters are working to find live events for people to bet on, including virtual sports, Russian table tennis, and the US presidential election.
- All eyes are also on the fall NFL season as the next big comeback opportunity for sports betting.
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The coronavirus pandemic has dealt a blow to the legal sports-betting industry that was poised to take off in the US in 2020.
Major sporting events, including the college-basketball betting frenzy known as March Madness, have been canceled. Others, like the NBA, NHL, MLB, and Premier League seasons, are on hold.
Sports-betting companies, and the media businesses that had been rushing to capitalize on the industry, are now cutting costs to keep their businesses afloat and finding creative ways to keep …continued .
[Source: Business Insider]