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Betting Brands may Shift Focus from Sports to Casino Amid COVID-19 Pandemic
COVID-19 has shaken up the world. No one and no business has been left unaffected by the virus, and that includes the betting industry. Land-based casino and betting shops have especially felt the impact of the novel coronavirus, which has forced these establishments to close to help stop the spread of the disease. Even the biggest sports betting brands in the UK have suffered online and offline from the widescale suspension, postponement or cancellation of major sporting events.
There’s no question that as far as the gambling industry is concerned, brick and mortar betting shops and casinos have taken the hardest hit, with one of the worst cases being in Nevada, which shut down every casino on its famous Las Vegas strip back in mid-March. Nevada depends on tourism more than any other U.S. state and is used to catering to tens of millions of visitors annually. Unemployment rates are expected to go up by a minimum of 30% in the state, according to the Nevada Resort Association. This has left many to wonder and worry if Vegas’ big names like Wynn Resorts, MGM Resorts, and Sand Crop. will survive the virus’ economic impact, even with help from the financial relief plan.
That said, the closures caused by the coronavirus have been felt across the industry. For instance, the impact on big groups like GVC has resulted in the company taking steps to do what it can to alleviate the strain that has been placed on its operations. Like other companies, GVC has been working hard to lower costs and re-prioritize activity to preserve free cash while making sure its customers continue to be able to enjoy great experiences. Among these re-prioritisations has been reducing the amount spent on sports content, online sports marketing, and trading costs.
Photo source: Shutterstock
Even online Sportsbook is not Immune to Coronavirus
Naturally, the online gambling industry has a massive advantage over its land-based counterparts. No one needs to social distance online and gambling can be enjoyed safely from home 24/7 via a computer or mobile, whether one is self-isolating or in full quarantine. However, in spite of this fact, online sportsbooks continue to find it a challenge to make the most of the internet advantage.
With no active mainstream sports, online bookies have been forced to fill the void with more emphasis on the virtual world of sports, including animated versions of major horse races like the Grand National, which was canceled because of the COVID-19 pandemic. The Virtual Grand National, like other virtual races, was a computer-simulated race. It included virtual spectators and virtual ambulances that followed the runners and riders around the courses.
Beyond virtual sports, digital bookmakers have also placed greater focus on eSports as well as other lesser known events. Still, even with the focus on these other events, all online bookmakers have seen a dramatic decline in depositors and increased churn rates because it is simply far too difficult to retain players when the major sports betting markets are at a standstill.
Many of the big name gambling operators have watched the value of their shares suffer from the COVID-19 outbreak. Some of these include:
- William Hill shares have dropped by more than half since the 21st of February 2020
- GVC Holdings (owner of Ladbrokes Coral) has seen a drop in share prices by more than 20%
- Flutter Entertainment (owner of Paddy Power Betfair) has seen its share value tank by over 15%
Sportsbooks May Shift their Focus to Online Casinos
Online casinos, which offer online slots, virtual table, and card games, scratch cards, live casino games, etc. are in much better shape than their sportsbook cousins and that’s because they don’t depend on sports or other major events to continue carrying on with business as usual.
As such, many bookies that also offer a casino platform may consider cross-selling their online casino products to their existing sports betting customers in an attempt to recoup some of the money they’ve lost. This tactic could work as bored housebound punters, who previously focused solely on sports, can be keener to engage in casino entertainment until they can bet on their favorite football matches or horse races again.
Since March, COVID-19 has shut down most economies and sent more than a billion people into lockdown. Like many other businesses considered non-essential, land-based gambling establishments have closed their doors until the outbreak and restrictions ease. While only time will tell how well gambling operators will fare once the worst of the pandemic has run its course, for now, all they can do is focus on their online operations and survive as best they can. For some, online casinos could potentially provide the life raft they need to stay afloat.
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North Star Network (NSN) has announced its acquisition of Soccernet.ng, a prominent Nigerian sports media platform, marking a significant expansion into the Nigerian sports scene and underscoring its ambition to solidify its footprint in the African media landscape.
Founded in 2014, Soccernet.ng has become a trusted authority on Nigerian football, providing in-depth daily coverage of local football alongside trending stories from the global soccer world. Known for its quality journalism and passionate team of football enthusiasts, the platform has achieved significant recognition, including the Sport Blog of the Year award at the Nigerian Blog Awards.
A Strategic Move into Africa
The acquisition of Soccernet.ng is part of North Star Network’s strategy to expand its portfolio in Africa. The platform joins NSN’s roster of over 30 respected sports media brands, which includes Afrik-Foot, Top Mercato, Football Whispers, Sportsmole, and Vringe.
Julien Josset, Co-founder of North Star Network, expressed enthusiasm about the acquisition:
“We’re excited to welcome Soccernet.ng into the North Star Network family. Their passion for Nigerian football and commitment to quality journalism align perfectly with our global vision of bringing fans closer to the game they love.”
Preserving Soccernet.ng’s Legacy
Soccernet.ng will retain its original team of dedicated journalists, ensuring the platform’s authenticity and unique voice remain intact. The website currently engages readers not only in Nigeria but also across over 150 countries, including the UK, USA, Canada, and Spain.
Biyi Akangbe, Founder of Soccernet.ng, reflected on the platform’s journey:
“We started as a small website 10 years ago with a passion to deliver news about Nigerian footballers to readers. We’ve since grown into a globally recognized source for Nigerian football news. This acquisition by North Star marks an exciting new chapter for our brand.”
Co-founder Lolade Adewuyi will continue to contribute to the site as a columnist, maintaining the brand’s strong connection with its loyal readership.
Expanding Global Reach
The acquisition of Soccernet.ng reinforces North Star Network’s dedication to amplifying local voices in key regions while offering unparalleled sports coverage. With its innovative strategies and growing portfolio, the group is poised to drive sustainable growth across its media brands.
North Star Network is a leading global sports media group, operating in over thirty countries and committed to delivering world-class sports content to fans worldwide.
This acquisition sets the stage for a new era in Nigerian sports journalism and highlights North Star Network’s continued efforts to connect fans to the heart of the game.
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Latest News
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.
In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.
Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.
In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.
GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.
Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.
“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.
“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”
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