USA – The founder and chief executive officer of Sharp Alpha Advisors, Lloyd Danzig, has recently described the impact of the global Coronavirus pandemic on the gaming and betting industry in a questions and answers segment with trade news portal SBC Americas, part of the SBC Global network.
Sharp Alpha Advisors is a leading sports betting business and investment consultancy with a focus on companies deploying cutting edge technology.
When asked about the effectiveness of the gambling industry in responding to the Coronavirus outbreak Lloyd Danzig said:
‘I think it’s a bit early to make any sweeping generalizations or comments on the way in which history will reflect on this time.
The decision to close all US land-based casinos could not have been easy.
However, I think it may be the way in which various businesses and venues reopen that really defines the way in which their COVID-19 response is remembered.
Reputations are one of those things that take a lifetime to build and only a day to ruin, which I think is an important phenomenon to bear in mind.’
The comments come less than 24 hours after executives in Las Vegas spoke out about the diversification of the gambling industry, particularly the betting industry, which is showing signs of shifting from sports markets to eSports.
Chief executive officer of sportsbook William Hill Joe Asher commented:
“In terms of what sports are left, there’s Russian table tennis and Japanese sumo wrestling. We were talking about Nicaraguan baseball, there’s some soccer in Belarus. The amount we will allow people to bet on esports is much smaller. We wouldn’t think anything of someone betting a million bucks on the Super Bowl. For esports, we won’t go anywhere close to that. We take smaller stakes to help guard against any issues with the integrity of the event. When one individual sitting at home can determine the outcome of the event, that does limit the amount of money sportsbooks are willing to accept.”
Seth Schorr of Fifth Street Gaming and Downtown Grand Hotel and Casino added:
“Each state has to approve an esports wager. Nobody can just approve all esports. There would be cheating, there would be no integrity. Right now you have to get approval for each match, which is pretty cumbersome, so the next phase in esports betting will be regulators getting comfortable.”
When Lloyd Danzig was asked about how the industry can come out of the pandemic in a strong position, he stated:
‘I feel that it is very important to remember that most people’s priorities centre around their own physical and financial health, as well as that of family members and close friends.
As such, I think it’s important to be decisive, transparent, communicative, and generous when messaging around things that impact these areas of a customer’s life.
In the post-COVID world, that will likely mean going above and beyond in placing hand sanitizer at every seat in the sports book, having disinfectant wipes next to slot machines, and the like, as well as properly communicating other protectionary measures.’