How the MLB game cancellations have affected sports betting stocks

Reopening the sporting world during the pandemic was never going to be an easy feat, yet there has been a lot of activity in the community regardless. In recent news, an outbreak in the Miami Marlins baseball team has caused a number of MLB game cancellations. The outbreak occurred before they were due to play the Baltimore Orioles, as pointed out here.

Major League Baseball makes up a huge part of the sports community, naturally, so there have been a lot of impacts as a result of these MLB game cancellations. It is important to note, however, that these cancellations have occurred to protect the team, the relevant members of staff, and the community as a whole too.

In this blog post, we’ll be taking a look at these MLB game cancellations from the perspective of one industry in particular- the sports betting industry. Sports betting has been immensely popular in recent years, and these cancellations have had a big impact on the industry.

 

How many games have been cancelled by MLB?

As reported in this article, two key baseball games have been cancelled by the MLB. Over 10 of the aforementioned Marlins team members have tested positive for the virus, which resulted in the two games being cancelled. Many people were discouraged to see this, and there has been a lot of debate surrounding the likelihood of a successful 2020 baseball season.

The Marlins had already played other teams before these cancellations occurred, so the industry as a whole is trying to be mindful of which teams are in proximity to each other. Right now, it’s much more important for people to be safe rather than sorry, and the health of the teams should be an absolute priority.

The impacts of these cancellations is already being discussed heavily online, with fans being disappointed alongside teams, and with related industries like sports betting feeling the strain in their own work and projects. The recent ‘Field of Dreams’ cancellation has certainly been a hot topic, as noted here. 

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How has the stock market been affected by the MLB game cancellations?

The sports betting market has suffered due to the MLB cancellations, as Major League Baseball is a huge topic for bettors in 2020. As noted by ESPN , the beginning of the MLB season was immense for casinos and online sportsbooks. Borgata Casino alone took the equivalent of 3 weeks worth of bets in the first 3 days of the season alone, which was spectacular.

However, the MLB game cancellations – among other postponements and disturbances in sports – have left a lot to be desired with sports betting stock. Many industry giants, such as DraftKings have been suffering large drops in their stock in recent months. It has certainly been a hot topic in the industry as of late.

It’s worth noting that online sports betting providers have still been going relatively strong during the pandemic, though, despite these drops in stock. Many people turned to online gambling during the lockdown period, as a way to get their gaming fix. Online gaming and sports betting has certainly come on in leaps and bounds in recent years.

Overall, we will be watching the sports industry with interest to see the continued reaction to events like the MLB game cancellations. 2020 has created a lot of challenges for business, and the response to these disturbances will be very interesting to observe. Despite the current climate, there have already been some intriguing stories this year, which has been great.

 

Summary

While it can be disappointing to see these MLB game cancellations and the impacts on the industry, it is important to remember that these measures have been taken in order to protect the sporting community. 2020 has certainly been an intense year for the industry, and health and safety must continue to come first.

It’s good to look to the future, and consider what exciting games will be coming our way in the next year. The sports industry – and by association, the sports betting industry- is known for resilience and adaptability, so we are sure to see some positive stories and new developments in the world as 2020 comes to a close.

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