Sports bettors change strategy during coronavirus shutdown
Bettors can make future wagers on the upcoming NFL Draft and the next World Series winner
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The coronavirus closed sportsbooks as casinos and league cancellations are on hiatus. However, gamblers can still make a bet.
Live bets can still be placed on online sportsbooks such as DraftKings on soccer in Belarus.
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Bettors can also make future wagers including the upcoming NFL Draft, which is scheduled to begin on April 23, or possible landing spots for former Carolina Panthers quarterback Cam Newton. Bets can also be placed on the next Major League Baseball World Series.
An empty Angel Stadium of Anaheim is shown in Anaheim, Calif., Wednesday, March 25, 2020. (AP Photo/Chris Carlson)
In addition, DraftKings has started to offer contests on simulated games.
The pause comes on the heels of 18 states, including New Jersey, recently legalizing sports betting.
The outbreak also comes amid the cancellation of the NCAA’s March Madness, which is considered to be one of the signature events for sportsbooks and a big driver of tourism to Las Vegas. The tournament itself rakes in more money in the first three days than the Super Bowl, Joe Asher, the CEO of William Hill, one of the largest gambling organizations in the world, told FOX Business Stuart Varney in mid-March.
Luis Rivera, left, sanitizes seats in Bridgestone Arena after the remaining NCAA college basketball games in the Southeastern Conference tournament were canceled Thursday, March 12, 2020, in Nashville, Tenn. (AP Photo/Mark Humphrey)
Even so, industry experts are optimistic that sports could return soon.
“We’ve always had sports in times of war, even the depression, the great recession… has brought us through these times by having an outlet like sports to watch,” Genesco Sports Enterprises CEO John Tatum said.
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And although the pandemic is fueling volatility on Wall Street, DraftKings is still planning for an initial public offering next month.
“While we are focused on ensuring the health and safety of our employee's customers and communities… our plan remains for DraftKings’ to go public in April,” DraftKings CEO Jason Robins told FOX Business’ Jeff Flock in a statement.