November 25, 2020

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Sports betting industry reels as sports pause indefinitely – AL.com

Sports betting industry reels as sports pause indefinitely - AL.com

There’s little doubt Thursday was the worst day for the sports betting industry since years prior to the Supreme Court decision to repeal PASPA in May 2018.

The stock market crashed this week. Sports betting stocks crashed harder.

Many industries face enormous obstacles, including sports leagues. Those who work in sports betting are at the top of the list in terms of challenges.

Whereas airlines still have a trickle of flights, opportunities to bet on sports have vanished almost completely.

There are no Mark Cubans publicly vowing to take financial care of low-level workers like ticket writers at Las Vegas casinos. And there’s no one who’s going to finance professional bettors, whose wagering options are tenuously limited to MMA and a few obscure foreign leagues.

The most important weeks between the Super Bowl and the start of football season have vanished. Worse, nobody knows when sports will resume.

“It’s our busiest week of the year,” John Murray, executive director of the Westgate SuperBook in Las Vegas, told ESPN.

“It’s a big concern, but every sportsbook in the country is in the same boat. There’s nothing we can do to control it. We’re just hoping for the best, while keeping the safety of our guests, our staff and everyone involved our No. 1 priority.”

Given that legal sportsbooks in the United States outside of Las Vegas are in their
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