Bookmakers suffer from the shift in the Olympic Games

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Maximilian Deininger 1. April 2020

After a long hesitation, the Olympic Games were postponed to the next year due to the coronavirus. For the bookmakers, this means the next massive cut. Long, for many critics and athletes too long, the shift in the summer of 2021 was delayed. Now the public pressure became too great, which is why a relocation that has already been required several times was inevitable. This also does not make the situation easier for sports betting providers. In addition to the major sporting event, the European Cup in football has already been postponed by one year. However, the reactions from the sports world are positive.

The sports betting providers have to nibble violently at the shift of the Olympic Games. ((©Gellinger/Pixabay)

Not to avoid high losses in sales

After the relocation of the Olympic Olympic in the summer of 2021 by the International Olympic Committee (IOC) and the host Japan, the relief for most participants was great. In addition to the athletes, the host city of Tokyo may have a large stone from the shoulders. An orientation of the games during one worldwide pandemic like the coronavirus may have been an almost unsolvable task. The sports betting provider industry, on the other hand, has to cope with the next neck hit.

After the shift of the football European championship to the next year, the next year’s Olympics will be relocated to the major sporting event. Since almost all sports, especially in North America, Europe and Asia, have been shut down The sales of the bookmakers serious. With the Olympics, an important and lucrative source of income is now missing again. Casino and arcade operators as well as sports betting providers already report massive losses. The betting shops remain closed, but the missing, betting sporting events are significantly more lacking. It is therefore not surprising that numerous bookmakers offer bets on the weather or other curiosities. However, the lack of sales cannot be compensated for.

Sport -free time – but there are alternatives from the eSports. ”Not only the major events EM and Olympics have been postponed by one year, almost all other sports are currently resting. An increasingly popular alternative is the eSports sector, which takes place without a spectator, but can be tracked for everyone via live stream. Here the software company Intel came up with something in relation to the Olympic Games in Japan and launched an E-Sport event with the World Open, on which the classic sports will not be represented, but the connection to the host country Japan is nevertheless present will be. This should be done by the competition in Games such as Street Fighter V and Rocket League, as these games transport a Japanese touch. The software group Intel is to provide a full prize money of $ 500,000 for the event, which is to be completely distributed to the participating players. ”

Decision delayed, criticized criticism

The fact that the IOC had delayed the actually inevitable shift of the games for a long time brought the IOC a global shit storm and harsh criticism of the athletes. Only when the pressure on the world association became too great, for example by an announced Boycott of the Olympic Games From Canada, he leaned out of public pressure and agreed to a shift to the next year. The American athlete spokesman Max Hartung had already expressed and announced his displeasure with the hesitant behavior of the IOC, the Olympic Games, you should take place this summer. Accordingly, the saber fencer took the decision:

“If we use our voice, we have great influence (…) The hanging game is over for the time being.”

The stock exchange, however, reacted Positive to the shift of the games in the next year. Many stock exchange courses from companies that are directly involved in the games rose significantly. This is primarily due to the previously existent fear of a complete cancellation of the Olympic Games. The hope has now been raised again that the Corona crisis was brought under control by the summer of 2021 and that the Olympic Games can take place in the Japanese capital Tokyo as planned.