It’s been a rough week for many sports fans. After a long winter break, they’re finally able to get back out on the sports field and in the betting shops. And it’s not just sports fans who’ve benefited. Online bookmakers have seen a surge in business as a result of the sporting chaos, and that means cheaper prices for customers.
While getting in some last-minute bets before the tournament starts is a great opportunity, it can also be a bit risky. As well as the unexpected result that can pop up at any time, there are also the bigger picture concerns associated with the COVID-19 pandemic.
With millions (and potentially billions) of dollars riding on the results of major sports events around the world, it’s no wonder that bookmakers are keen to get in on the action. The lure of easy money is enough for most people, but there are also those with significant risk appetites who bet on sporting events. The problem is that with so much money on the line, there’s no way of knowing what strategies the sports leagues and teams will use to try and beat the bookmakers.
That means even the best laid bets can go wrong if the unexpected happens. One of the best examples of this came in the form of the German Grand Prix. Bookmakers were loving on that one, laying 10/1 shots and even bigger odds on teams that had been long-shot candidates to win the Formula One title. But it all came crashing down in the most embarrassing fashion when a one-car crash wiped out both Mercedes drivers which deprived bookmakers of a 50/50 result. The shockwaves of that one continue to be felt even seven months after the fact.
The point is that while it’s great to be able to place a wager on a sporting event that you feel confident will produce the result you’re after, it’s also worth bearing in mind the unpredictability of the situation. Sure, things will play out according to plan most of the time, but even the best-laid plans can go wrong, and when they do it’s usually shocking to everyone involved.
Pandemic Or Sports-Related Risks
For most people, the lure of easy money in the form of cash or prizes for the winning side is enough to make them willing to take a chance on COVID-19. In the United Kingdom, there are already over 300,000 registered cases of COVID-19, and with the return of sporting fixtures and the attendant mass gatherings, there’s the possibility of huge outbreaks of the disease.
While it’s great that so many people are taking up the opportunity to get some last-minute bets in before the sporting chaos resumes, there are also obvious risks associated with getting in on the act. Bookmakers are well aware of the pandemic and are taking precautions to protect their employees and customers. They’re not extending credit to new customers, and they’re also not taking any side bets during the pandemic. While these restrictions might not apply to you if you’re a very serious punter, they’re certainly good to follow if you’re planning on getting into the sports betting business in the near future.
Protecting The Integrity Of Sport
Even those who are betting for entertainment value only have an interest in preserving the integrity of sport. After all, if the result of a sporting event is suspect, how can anyone have any confidence in the outcome? Despite this, there are many examples of corrupt officials and third parties trying to skew the results of sporting events to make a quick buck. Bookmakers are well aware of the potentially dodgy elements who try to disrupt sporting games, and they take steps to protect against this. They make sure that the result of every game is verified by having independent scorekeepers, and they also ban people from trying to influence the outcome through bribery and other means. While these measures might not be enough for those who are trying to beat the system, they do at least serve to protect the integrity of sport.
Risk As Well As Reward
For those who do take the risk and are successful in getting in on the action, there’s the opportunity to make a quick buck. But for those who are playing with house money, it’s also an opportunity to make back a significant amount of money. While the lure of easy money is enough to make most people willing to take a punt on something new, it’s also important to bear in mind the risks involved. Even high-stakes players who are entirely confident of the plan they’ve laid down are still aware of the fact that they’re risking their own money, and this makes them more cautious. This is why people who are engaged in high-risk activities typically prefer to do so in anonymity. They don’t want to scare off potential customers by advertising their name and the size of their bankroll.
The bottom line is that while it’s great to get in on the action as soon as possible, it’s also worth remembering that there’s risk involved. Bookmakers are well aware of this and are ensuring their customers and employees are protected. They’re also taking measures to limit the spread of COVID-19, so you might not be able to place a bet for some time. But even then, there’s always the threat that the disease could start spreading again, and if that happens, there’ll be no bets left to make.