The coronavirus pandemic has affected a wide variety of industries. Airlines, travel startups were among the first victims, but they did not stop there. For example, in the period of strict quarantine, when mass events were banned, the bookmakers were also seriously affected. Shares of large companies are listed on the stock exchange, and many expected them to fall.
However, the esports industry has sustained interest in betting. As a result, the shares of the largest bookmakers even grew .
What happened
Due to the fact that during the quarantine mass events were banned, sports championships also stopped in most countries. This should have negatively affected the business of bookmakers, but in reality, their shares showed a good result. In particular, the shares of the betting platform DraftKings and the gaming operator Penn National grew in price.
Following its IPO on April 24, DraftKings rallied 82%, while Penn National Gaming rallied 130% by the end of May.
What is the reason for the growth
Interest in bookmaker services did not fade away even during the stoppage of the largest sports championships. Esports tournaments can be run entirely online, and people have been actively betting on their results.
This was facilitated, among other things, by general isolation. Once locked at home, people actively used streaming services, played games, and placed bets on them - this came as a surprise to some analysts.
What does it all say
In June, sports championships resumed in many countries. However, for example, in the US, major leagues like the NHL hockey are still paused. Therefore, fans still have nothing to watch, which contributes to the growing popularity of eSports.
Analysts expect that even after the full recovery of the sports industry, esports will retain its won positions and be able to attract new fans.
DraftKings is listed on the Nasdaq US stock exchange. It is possible to buy shares of American companies from Russia without having to open a separate brokerage account with foreign brokers. With the help of the foreign securities market of the St. Petersburg Stock Exchange, investors can buy 500 liquid shares of leading companies in all sectors of the world economy, including all shares of the S&P 500 index.
To make transactions with such shares, you need a brokerage account - you can open it online .
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