The sportsbetting industry has begun feeling the effects of Covid-19. Multiple companies have sent their employees home for safer working conditions. This extends to Aspire Global, who confirmed on March 18th that their implementing coronavirus emergency measures to ensure the safety of staff members. These measures include the requirement for employees to work from home while also limiting their rate of travel. This will enable Aspire Global to continually provide their B2C and B2B Clients with their known products. It should be noted that Aspire Global focuses primarily on casino operations, with their sports betting profit accounting for 5% of its overall revenue in the fourth quarter of 2019.
Aspire Global reported that customer activity throughout March 2020 reached higher peaks than throughout February or January. It appears that casino operations and sportsbetting products weren’t impacted with the Covid-19 Pandemic. The valuations regarding their sportsbetting products are expected to dwindle through April to May, with this potentially extending towards June. Alterations in profit margins were made after multiple sporting venues were cancelled. Resources will be targeted towards casino engagement and virtual sports going forward. Virtual sports are receiving an upgrade in subjected investment funds, with the popularity of this product increasing tenfold in the last two weeks.
The Chief Executive Officer with Aspire Global noted that their corporation has been profitable since launching in 2005. Their strong cash positions provide specialised capabilities to generate allocated funds for new products. This has continually been a part of its growth strategy.
British Greyhound Racing Remaining Active
The Coronavirus Outbreak prompted the alteration of additional sportsbetting products. The Greyhound Board of Great Britain confirmed that all their venues would be altered to “Closed Door Venues”. This followed after the United Kingdom limited mass gatherings of ten individuals. It was expressed that like other sporting agencies in Great Britain, the priority of public safety has become number one. Everybody must do their part to ensure the limitation of Covid-19.
Emergency Measures have been implemented with multiple sports leagues, somewhat prompting the closure of sportsbetting until summer. British Greyhound Racing wants to ensure that supporters still have something to enjoy while being self-isolated at home. We’ll provide our readers with any additional updates regarding cancellations, postponements or alterations to the overall European sports betting market.