The coronavirus outbreak has upended all areas of life, and the value chain of the gaming ecosystem is no exception. Social distancing measures, brought in to limit the spread of coronavirus, have had a significant effect on the gambling industry as it known the livelihood of gambling firms is sports.
Every aspect of the gambling ecosystem has been affected by covid-19 pandemic from gambling operators themselves to software solution providers and B2B gaming events organizer. The coronavirus pandemic has sent shockwaves across the globe, leading to a public health emergency that has killed thousands and plunged the global economy into what could be the sharpest downturn since the Great Depress
Perhaps Africa is projected to experience its first recession in 25 years, according to the World Bank. Not surprisingly. The global gambling industry worth billions of dollars today, and before Covid-19 stopped the activities of the sports industry, the bricks-mortal casino operators, the only trajectory seemed to be upwards. Now, every part of the gaming value chain has upended the gambling ecosystem where all sportsbook operators have seen a sharp decline in sales. Land-based casino operators have also seen a sharp decrease in sales as well due to the lockdown of movement in countries affected by the Covid-19 pandemic.
The Business Model of the Gaming Ecosystem
To begin, the basics. In the simplest terms, there are three main sectors in the gaming ecosystem. Sportsbook operators: rely heavily on sporting activities for there business survive: Land-based casino operators as been affected by restriction movement. Suppliers rely heavily on gambling firms to provide services: B2B gaming Event organizers rely heavily on the supplier for income: While gambling firms rely on B2B event organizers to network, at the same time know the latest software innovations that will improve their businesses.
No, doubt the overall gaming ecosystem calendar as been affected due to the Covid-19 pandemic where sportsbook operators have seen a sharp decline in revenue. Same as land-based casino operators at the same time we’ve seen some events schedule till next year during the spring some events as been shift to the later months of the year. Platform provider is offering free platform service to support sportsbook operators to innovate their service by offering similar service to fill the void left by the suspension of sports activities. Perhaps, to be frank, the gambling industry has never been this affected despite the pandemic, the positive side shouldn’t be ignored.
Which we’ve seen in recent month the surge in online gambling and who could believe at the beginning of this year, we will be having virtual events so no doubt it as upended the industry. Still, we have learned that the industry could innovate in the future.
