How Do Online Betting Platforms, like Betfair, Cope during the Pandemic?

Posted July 4, 2020 by SarahAddyson

The Covid-19 pandemic hit without warning and spread like wildfire across the globe.
The Covid-19 pandemic hit without warning and spread like wildfire across the globe. One of the areas that were most affected by the social distancing and quarantine rules imposed by governments everywhere was betting and gambling. With sporting events such as Bundesliga or Tour de France canceled, the people from platforms such as 벳페어 and 피나클스포츠 had to come up with solutions to compensate for the losses.

How Did 벳페어 Get Started?

When Andrew Black and Ed Wray thought up and designed the 벳페어 platform they knew they were on the verge of creating something revolutionary. But even they couldn’t anticipate what kind of feedback they’ll be getting on their idea and how they were going to change the world of online betting. After a few bumps along the way, the platform launched in 2000 and has been a fan favorite ever since.

Revolutionizing betting didn’t sit well with everybody, especially not with the traditional bookmaking companies that relied on controlling the odds and thusly the way the bets were being made. Rival companies also didn’t see the initiative as a very good one, wanting to keep the betting process as close as possible. But none of that mattered. Once the company took off, it expanded quickly beyond the borders of the UK and took became an international sensation.

The main difference between 벳페어 and the other platforms out there is that, from the get go, 벳페어 wanted to give the players the power to influence the odds. This is why the platform was designed to let players communicate amongst themselves and give each other tips on how to place a bet. This made the platform a huge success both with longtime betting enthusiasts and with those that were just starting to get into betting on sports. This was just what the gambling world was waiting for. The platform became an international success and has been gaining fans ever since.

But the people behind the Asian gambling giant didn’t just stop at reshaping the online betting landscape. They decided to expand in other directions as well and in 2002 became the first ever gambling company to sponsor a football team playing in the national championship (Fulham FC).

벳페어 also expanded into media, launching their own radio station in 2007 and buying the TVG Network in 2009. After ushering in a new era in online betting, the platform diversified their offer by adding online poker and various other casino games. Nowadays the platform even offers a serious selection of e-sports for people to bet on, thus adapting to the new generation of bettors and expanding their reach even further than before.

What Is 피나클스포츠?

The 피나클스포츠 story is yet another success story from the world of online betting. The platform was founded in 1998 and has its headquarters on the island of Curaçao, thus being licensed by the Government of the Netherlands Antilles, which are a part of the Kingdom of the Netherlands. The company now operates in over 100 countries and the platform supports around 19 different languages. The company went through various changes, from shortening their name from 피나클스포츠 to Pinnacle to introducing casino games in addition to their sports bets, before it became the reputed platform it I today.

One of the things that the Pinnacle people did was to reduce their profit margins in order to attract more customers. That meant that, although making less money off of each bet placed, they would process more bets than the other bookmakers. Another significant modification brought to the old betting systems was reducing the standard pricing for head-to-head match odds and spreads. They did this by posting opening lines with smaller betting limits. They could then make their own lines according to bettor activity without exposing the book.

All of these changes and many more made the company one of the biggest in the world, processing billions of dollars-worth of bets annually. They added casino games to their platform as well, in order to be able to offer the full gambling and betting experience to their customers. The platform adapted and reinvented itself in order to please its’ customers, without forgetting who they were and what was their mission.

How Did 피나클스포츠 Adapt to the Pandemic?

Maybe the biggest gamble that the people at 피나클스포츠 took, that paid off mostly during the current pandemic, was the investing in e-sports. It all started back in 2010 when Pinnacle was the first major bookmaker to offer odds on an e-sport event. Since then the e-sports market doubled its size for the next four years. By September 2014 the platform reached 1 million e-sports bets placed, and 5 million in 2017.

Among the e-sports that 피나클스포츠 take bets on are:

• Counter-Strike: Global Offensive
• Dota 2
• Hearthstone
• Heroes of the Storm
• League of Legends
• King of Glory
• Overwatch
• PlayerUnknown’s Battlegrounds (PUBG)
• Rocket League
• StarCraft 2
• WarCraft III
• World of Tanks

With the start of the Covid-19 lockdown of most countries came the cancelation or the rescheduling of all major sporting events. Euro 2020, The Olympic Games in Tokyo, Wimbledon, NASCAR and all major football leagues are just some of the sporting victims of the coronavirus quarantine. This meant that a lot of people employed in the betting industry had to come up with ideas in order to compensate for the money and clients they lost. This is when platforms like Pinnacle truly shinned. Their development of e-sports betting odds meant that they could handle the financial hit better than others and that they already had the necessary infrastructure to process the new and increasing number of clients that were now looking for a new thing to bet on. The company demonstrated that it truly is one of the big ones and that the people running it are true visionaries, ready to handle whatever the next big obstacle may be.
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Issued By Sarah Addyson
Country United Kingdom
Categories Games
Last Updated July 4, 2020