Even though sports have taken a hit during the coronavirus pandemic, sports betting has held onto its success.
There was a big loss in mid-March when bettors lost the NBA, MLB, NHL, and March Madness. However, DraftKings has created earnings in other aspects.
One is esports, especially NASCAR. They found out a way to still give fans some content during this time with virtual racing and fans have responded.
DraftKings had to look elsewhere other than live sports to stay operational during the pandemic. There have been bets created for reality TV shows and even the democratic presidential debates.
Investors have been responding to the news. Even without sports, going public has been a success for DraftKings. Shares shot up last month, and the company has been up as much as 12%.
This has led the company to branch out from the normal live sports betting. They have created casino games for their customers in Pennsylvania. They can play blackjack, roulette, and slot machines online.
DraftKings has announced that they don’t expect this pandemic to affect their long-term plans or goals.
The US also finds itself in a popular time for states to legalize sports betting. New Jersey did so in 2018, and 14 other states have followed. Several more are starting to consider passing legislation to allow online sports gambling.
Especially after the hole that this pandemic is creating for state budgets, it might become even more popular to consider. Legislators will be looking for revenue streams in 2021 sessions across the country.
Sports Returning
Now that they are in a good spot, they are approaching the time that many sports are making a comeback. With fans starved for content, the betting numbers will soar.
This weekend will be the biggest since the suspensions that occurred in March. The UFC will be fighting again in Jacksonville, Fla., with a heavyweight headlining fight.
German soccer will be the first team sport to resume play. There is a slate of games that starts Saturday and continues until Monday.
Golf will come back with its first tournament being a skins charity match between some of the top golfers in the game. Rory McIlroy and Dustin Johnson will face off against Rickie Fowler and Matthew Wolff.
NASCAR still found a way to continue their content with virtual racing, but they will be making their return on Sunday. The NASCAR Cup Series will be holding a race at Darlington.
PBR bull riding will also be among the entertainment for the weekend.
Good News Ahead for Sports Betting
Many sports companies, such as DraftKings, have survived through this rough time for live events. Now, things are starting to look brighter.
With a flourish of events starting to hit fans at once, there is going to be plenty of wagering going on. People can finally stop paying attention to table tennis and look to things that they know.
More success will come for these companies as sports make it back.