Global gaming revenue to drop 11% due to coronavirus pandemic, according to the European Gaming Commission.
According to a statement, the institution expects that global gaming revenue to drop 11% from previous forecasts due to concerns about the coronavirus pandemic.
2020 global gambling gross win has been downgraded from its pre-COVID-19 forecasts of US$473 billion to US$421 billion, representing figures close to 2016 levels, according to industry analysts H2 Gambling Capital’s new weekly COVID Impact Tracker.
The expectations are now in worldwide online activity. The sector could shift from 13.2 per cent to a 15.7 per cent share of global gambling revenue.
According to H2 Gambling Capital the unprecedented shutdown of major sports events across the globe will inevitably have a significant hit on overall revenues across the entire gambling sector, both offline and online.
Currently, major sports events suspended or cancelled due to the virus include a variety of European football league, including the English Premier League, Spain’s La Liga, Germany’s Bundesliga, as well as the European Champions League, The Masters golf major, and the UK’s Grand National – all billed as major events for European bookmakers.
“It’s sad that so many iconic sporting events are being cancelled or suspended and it will obviously have a negative impact on our sector,” explained Maarten Haijer, Secretary-General of the European Gaming and Betting Association and added “But the safety and health of the public is obviously more important and we fully support the sporting authorities and others in the difficult decisions they face right now.”