William Hill Points to US Sports to Boost Sportsbook Profit
Almost all sports betting operators have less profits in the first half of the year. Since March, almost all of the sports events were postponed or cancelled. Over the next few months, PayPerHead operators were offering what meager events were available from around the world. In May 2020, we started seeing European Football come back. By June, we were seeing some tennis, golf, and table tennis matches that people were betting on. Even major operators like William Hill reports a lower profit margin for the earlier part of the year. And as they plan to recoup these losses, they look to US sports to boost sportsbook profit.
William Hill believes that the US betting market will be important in gaining a stronger second half for 2020. In their UK operations, they will be keeping their 119 betting facilities closed. They will be combining their retail and online operations on that side of the pond. They are looking at the US, as the betting market there is 7% of the revenue of the William Hill group during the first half of 2020.
US Sports to Boost Sportsbook Profit
William Hill is not the only company that is looking at the US market. Many a sportsbook pay per head blog of experts has pointed to the US’s second half of the sports season as a great opportunity for sportsbooks everywhere to earn. The biggest sports leagues are coming back: the National Basketball Association (NBA), the National Hockey League (NHL), and the Major League Baseball (MLB). The National Football League (NFL) is also slated to begin in September, which is one of the biggest sports leagues in the country.
More so than the actual sports events resuming, you also have the issue on betting channels. Given the risks of going to public places, a lot of people are staying home and doing everything, from work to shopping, online. The same is true for sports betting. In the US, states that have legal sports betting are generating majority of their gambling revenues from mobile and online channels. If you want to create a sportsbook, now is the perfect time. Online sports betting is where most of the action is. It is where the action will be, at least for next few months, or even a year.