In today’s uncertain time, the coronavirus is shaking up the market and business on a massive scale. The outbreak of COVID-19 affected the iGaming industry and also announced delays and interruptions. Most sporting events have been either canceled or delayed. The iGaming industry is continually creating new opportunities for entrepreneurs to invest in the lucrative betting world but with the cancellation of major events, businesses are witnessing a downfall in the economy.
Consequences of Coronavirus on iGaming Business
With the continued spreading of coronavirus, iGaming operators all over the world have all been hit hard. The cancellation of all major events also brings uncertainty to the iGaming business. As the virus spread all over the world, here is the list of canceled and postponed gaming events due to coronavirus.
- The annual Boston Marathon will be postponed until September 2020
- Professional hockey games (NHL) have been suspended
- The NBA decided to postpone its 2020 season
- The Game Developer Conference has been postponed
All the above-mentioned major events are canceled or postponed in the US. Along with that multiple sports events have been canceled throughout the world:
- Six soccer matches set to take place in Italy have been postponed
- The FIFA Global Series, FUT Champions Cup Stage V Bucharest has been postponed
- The Intel World Open (an esports event set to run in conjunction with the Tokyo 2020 Olympic Games) has been postponed
- German open has been suspended
- The India Championship finals scheduled have been suspended
The above are the major canceled and postponed events around the world in the iGaming industry. With the official announcement by the World Health Organization (WHO) declaring COVID-19 as a pandemic, there have been cancellations and postponements of gaming events that affect the iGaming business up to a significant extent.
Thus, for business enhancement and revenue recovery, the iGaming industry needs to find something exclusive as esports. There is still an opportunity for growth through sports platform development which can be a massive upturn in the iGaming industry. It can give great revenue-generating opportunities for iGaming business owners.
Choices available for the iGaming business during COVID-19
Esports is the New Hopes in iGaming industry
The impact of coronavirus has led to more users staying at home instead of socializing outside which allows more people to spend their time playing games online. The iGaming industry owners can respond to the coronavirus outbreak by extending or introducing esports to take advantage of the large number of potential new players who are confined to their homes. The extension of lockdown increases the playtime and frequency of the players that show an upcoming opportunity to the iGaming owners to try out their hands in the esports business.
Weather Betting Software could be a unique choice
With the cancellation of iGaming events, there are no sports to bet on for the players. Thus in such uncertain situations, you can bet on the weather of your city. The majority of the canceled events give opportunities to the entrepreneurs to offer weather betting to their plates that can keep them engaged and also enhance the revenue of the business. The users have a choice to bet on rain, storms, temperature, snow, city temperatures, rainy days for the city, and many more.
Political Betting could be an Exciting option
Political betting markets are flexible and always allow high-profit entrepreneurs. It can entertain the audience differently and retain them for the long term. The betters always found it exciting as they can place bets on the political outcomes and earn money.
Celebrity Betting could be a fascinating choice
As coronavirus is blowing into the iGaming industry, it can affect their business to a great extent. Due to the situation of the financial strain of the iGaming industry they can choose celebrity betting for their users. It is different from regular monotonous betting which can be exciting for the users to bet. It can be a better opportunity for the iGaming business and can also possess multiple interesting and tricky betting markets for the users.
The above are the alternatives for iGaming businesses to expand their business in different areas rather than in the iGaming industry. ESPORTS could be the most reliable and profitable for the business and can also engage the audience as in the absence of real game events it can be the savior for the audience at large.
Options that can be used from Esports during COVID-19
Fantasy Esports Software
Fantasy esports software can give a combined experience to the users. It covers all major events online which covers all major features to experience the real game. The iGaming industry can opt for this software to offer advanced gaming experiences to their players.
Esports Betting Software
Esports Betting Software can be the best choice for punters who are passionate about betting. It covers all major esports games that give wider choices to the players. Esports gaming events including League of Legends World Championship, Overwatch League, Call of Duty, and many more are covered through this platform.
Esports tournament management software
Esports tournament management platforms can help manage multiple players online over a single platform. It can enhance the gaming experience for the players and can engage large numbers of audiences in one place.
Esports is one of the leading worlds of Entertainment
If you desire to enhance your iGaming industry with the current trends and situation, you can surely choose esports gaming. In the scenario of quarantine, people are staying at home and searching for different sources of entertainment, esports can be their best choice to rely on and it can also be an advantage for iGaming businesses to expand their services in esports betting platforms. As per the industry researchers, esports can be the most unaffected area of the gaming industry that signifies an opportunity for entrepreneurs.
In the situation of boredom during the lockdown period, esports can be an entertaining and engaging source for them. The closure of all major iGaming events can lead to increased opportunities for investors to invest in the esports business.
Thus, if you are looking for an opportunity to somehow manage your revenue in the iGaming business then esports is the best alternative to choose. It can not only retain your iGaming audience but also helps in enlarging your existing audience. You just need to find the best esports platforms development company to offer you the services in the best way.
According to me, GammaStack is one of the most trusted names for offering the best iGaming software solutions. They offer a feature-rich software solution that can take your betting business to the heights of success and prosperity. Their team is also having expertise in online casino software, sports betting software, fantasy sports software, and many more. Thus, to keep your iGaming business unaffected by the outbreak of COVID-19 and maintain your revenue, you must opt for the esports offering of Gammastack and increase your retention rate of existing clients.