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Will the Coronavirus Affect UK Gambling Industry?

By Allison Shor - Contributor
2 years ago

The United Kingdom is facing coronavirus pandemic. With over 1,400 coronavirus cases, it is only a matter of time when the economy will feel the devastating consequences. Will these numbers affect the UK gambling industry that highly depends on social gatherings and sports events like the Premier League and Cheltenham Festival?

Gambling companies in the UK are experiencing large price movements, and not in a good way, for example, William Hill’s stocks have declined in value of 24.17%. Considering that future measures will include quarantine and banning of all public gatherings, it can be predicted that online casinos will experience a rise in traffic as people can bet from the convenience and comfort of their own home.

The list of worldwide sports events that have been canceled due to coronavirus is drastically increasing including the NBA, Premier League, England Cricket Tour, boxing, etc.

This also leads to the question: What will happen to bets that have already been placed?

Some sportsbooks might not only cancel those bets but also face a lower variety of betting sports in the future, especially as some qualifiers are being canceled as well.