Global concerns about the coronavirus (COVID19) have led to a 11% drop in forecasted global gambling revenues in 2020* – with 2020 global gambling gross win downgraded from its pre-COVID19 forecasts of $473bn to $421bn (close to 2016 levels), according to industry analysts H2 Gambling Capital’s new weekly COVID Impact Tracker.
While H2 Gambling Capital expects an increase in online activity, with the online gambling sector moving from 13.2% to a 15.7% share of global gambling revenue, the unprecedented shutdown of major sports events across the globe will hit overall revenues across the entire gambling sector (both offline and online).
Currently major sports events suspended or canceled due to the virus include football’s the English Premier League, Spain’s la Liga, Germany’s Bundesliga and the European Champions League, as well as The Masters golf major, and the UK’s Grand National horserace – all major events for European bookmakers.
In 2018, EGBA members generated €2.36bn in online sports betting revenue, accounting for 44% of their total online gambling revenues**.
“It’s sad that so many iconic sporting events are being cancelled or suspended and it will obviously have a negative impact on our sector. But the safety and health of the public is obviously more important and we fully support the sporting authorities and others in the difficult decisions they face right now”, said Maarten Haijer, Secretary General of the European Gaming and Betting Association (EGBA).
* Based on latest available information.
** EU-28 market only.