A year with COVID
SCOT McCLINTIC, PAYSAFE: THE IMPACT OF COVID-19 ON US SPORTS BETTING
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e’ve now reached the anniversary of when the COVID-19 pandemic changed everything for us – both our society and the US gaming industry, writes Scot McClintic, SVP iGaming Product & Strategy at Paysafe. It is a milestone that prompts us to reflect and remember the rocky road that led us to where we are today. It is also a milestone to keep us optimistic about the future, and the renewed strength that the gaming sector has demonstrated over the last 12 months, particularly in the online space. The retail sports betting industry ground to a relative halt when the pandemic began its crescendo in March 2020, with many of the betting world’s marquee events postponed or cancelled as a result. From March Madness, to the Olympics and European UEFA Football Championship, it was relentless. Even when sports began to return, empty stadiums and social distancing measures meant the vibe was new and unfamiliar compared to the highenergy atmosphere we as fans had long been familiar with.
IT IS A MILESTONE THAT PROMPTS US TO REFLECT AND REMEMBER THE ROCKY ROAD THAT LED US TO WHERE WE ARE TODAY
IT'S A MILESTONE WE HOPED TO REACH with the fight
against COVID banished to the history books, but it should - despite the lingering concerns - still serve as a reminder of the 'rocky road' we've got through and the resilience shown by the sector 22 SBC LEADERS • APRIL 2021
Despite the uncertainty that the pandemic initially placed on live sports and the sports betting market, there have been silver linings for the industry. For instance, table tennis emerged as a major sports market, and continues to be a bettor-favorite today. Who saw that coming a year ago? More broadly, online casino showed significant strength as a complementary product offering to hedge against sports content, as consumers looked for new forms of entertainment. This was predictable, but consumer engagement and cross-sell metrics from sportsbooks to iCasino were stronger than anticipated. COVID-19 was, and continues to be, a shock to the industry. And yet we see the resilience of the market, and players’ need to find new and engaging forms of entertainment.
