We can already say that COVID-19 has had a devastating effect on the world. A usual way of life was disrupted, economies suffered greatly, a lot of major events were either disbanded or postponed indefinitely.
The events we are talking about are mainly prominent soccer leagues. Premier League, Champions League, La Liga, and other notable competitions are currently delayed. There is no exact time when they will continue.
The above mentioned fact impacted casino gamblers, who were placing their bets on major leagues. In the absence of mainstream sport, some of them turned to virtual sports which resulted in losing a lot of money, and this article will be about the issue, which has been brought forward by MPs in Great Britain.
Mps Urge the Impositions of £50 Betting Cap
Recently, MPs have pleaded gambling firms to impose a betting cap of £50 because punters are making riskier wages towards nontraditional sports.
As already has been mentioned above leagues like Premier League and Grand National were canceled temporarily, and the betting firms are looking to promote virtual sports betting. Hence, users are more determined to wager on these competitions.
Local Players to Abuse the System
While MPs urged the imposition of the cap, they said nothing about other customers, and we know that British gambling firms have a lot of players from Nordic countries. Norway which has strong ties with Great Britain is particularly notable with the abundance of players. Most recently Arvid Neulaender, a representative from Casinopånett.eu, expressed his discontent about the fact that MPs were saying nothing about Norwegian users, who are also under risk of losing a lot of money. While MPs only mentioned British citizens, it could spark outrage from other customers and lead local players to abuse the system.
Calls for Responsible Gambling
While a lot of workplaces were shut down temporarily over the fears of spreading the coronavirus, most people found themselves stuck at home with plenty of spare time. No wonder that where there is nothing else to do, they turn to online gambling with the aim to earn extra money. For some, it has become a severe addiction.
The gambling industries changed their strategy after their prices went into freefall, and a lot of major events were canceled. Betway, for instance, which recently had a controversy about money laundering and was fined with €11.6m has paid Google for promoting virtual events. Also, other companies are encouraging customers to place bets on obscure sports competitions which raises chances of a ‘national disaster’.
So far Betway, MansionBet, and 32Red have not commented about the recent events concerning the limitation of a betting cap. In contrast, one of the giants William Hill declared that the money obtained from the gamblers in virtual Fifa events was donated to charity and also said that its marketing spends diminished significantly during the virus.
While it would be a right move from gambling firms to temporarily impose a limitation on the betting cap, people should be aware as well of the dangers, going too far in gambling.