Betting companies are expected to register losses for the first time in the month of March 2020 due to corona virus. The virus, which originated in China, has resulted to cancellation of almost all matches across the world. Despite several gamblers willing to place bets, there are no sufficient games to bet for.
All the major leagues, including EPL, Bundesliga and Serie A were postponed after some of the players fell victims of the deadly virus. Arsenal manager Mikel Arteta was the first Manager of a top club to openly declare that he has contracted the virus. Sampdoria and Valencia were the most affected top clubs.
There is complete lock-down in nearly 90% of the countries on earth, even players are scared to leave their homes. As a result, betting firms have been rendered dormant as activities reduce significantly. If in the next 30 days this disease will continue spreading, betting and gaming sector will lose trillions of dollars in revenues, leading to cancellation of sponsorship for clubs.
It’s not only betting which is affected, tourism, aviation, hotel,money&banking,construction and entertainment are hard hit.It will take years for some of the countries to recover.