The outbreak of coronavirus has had a devastating impact on professional sport. There are many aspects to sport and fans enjoyment of sporting events which have been affected. Gambling is one of them and this has always been closely related to the horse racing industry. How are horse racing bookies faring during the corona crisis?
The immediate impact of the lockdown has seen many horse racing bookmakers losing money. The parent company of Paddy Power and Betfair, Flutter Entertainment said it could lose as much as £110 million from its annual earnings. This was based on a model where sport did not resume until August and we know, thankfully, it will be resuming earlier than that, which is good news for the bookies.
The main issue for horse racing bookies will come in terms of those who trade at the racetrack rather than online bookmakers. Many online bookmakers have been able to offer some form of horse racing betting, even it if it has led to some punters betting on virtual horse racing in the absence of actual horse racing. However, without having to physically attend the racecourse themselves, online bookies have been able to offer horse racing from around the world.
Online Bookmaker: Betway
When it comes to online bookmakers, you won’t find many that can match the offerings from the operator Betway. They have been providing in depth coverage and markets on racing for over 10 years. The bookie also has a very handy resource online for racing fans with their own Horse racing betting tips and predictions section on the website and mobile site. Betway is one of the standout bookmakers for horse racing, but they also face a lot of competition from other bookies.
For those who may be interested in betting on horse racing across the planet, horseracingbetting.co.uk has a comprehensive review of the leading online bookmakers for horse racing fans. You will find a wealth of information relating to the world of online horse racing betting. This includes detailed reviews of several online bookmakers that offer horse racing odds. The reviews highlight the horse racing offers, the quality of the odds, live streaming events, mobile betting, payment methods and the security of the website.
However, online bookmakers have had an advantage over those who simply cannot offer their services over the internet. While there is no doubt online bookmakers have been hit by the outbreak of coronavirus, they have at least been able to offer alternative ways to bet aside from horse racing and sport in general.
Back to on-course bookmakers and this is where the real problems have arisen during the corona crisis. These are people who offer the bookmaking services at the side of the racetrack before each race takes place at a meeting. They operate solely in that way and when there is no horse racing it means they have no way of providing their service to the public. Unfortunately for horse racing bookmakers, they were already having a difficult time of things prior to the suspension of horse racing due to coronavirus.
Some have already endured a tough time over the course of the winter thanks to the wet weather, so trade was lower than predicted. With horse racing meetings being either postponed or cancelled completely due to the poor weather conditions, on-course bookmakers have been missing out on revenue towards the end of 2019 and in the early months of 2020. The outbreak of COVID-19 has come as another blow to on-course horse racing bookmakers as they have been unable to earn any income during the crisis. As many on-course bookmakers are self-employed, there should be some form of financial help available from the government but how long that will last is unclear.
In addition, some of the horse racing bookmakers affected may not be eligible for any financial support from the government. It is no secret that the leisure sector has been finding it difficult to obtain the funds required to continue operating when this crisis is finally over.
To Sum It Up
Horse racing will restart in the United Kingdom and around the world but in most cases, it will be without any members of the public at the racetrack. Therefore, on-course bookmakers are highly unlikely to be allowed into the venue and even if they were allowed to attend, there would be no one in there to place bets. It is an exceedingly difficult situation and could see some people go out of business, which would be incredibly sad to see.
Hopefully, there will be a boom later in the year as punters make up for lost time. That includes both online horse racing bookies and those individuals with regular pitches at the racetrack. Royal Ascot is set for 16-20 June, subject to government approval and will be held behind closed doors. Online horse racing bookies will be delighted by this news but uncertainty remains for those who make their living at the racecourse.