When the NBA decided to suspend its season in an effort to control the rapidly spreading coronavirus the economic impact of that decision was felt immediately from everyone from the person selling popcorn at the arena where games are played, right up to the betting window at your local sportsbook. The fact of the matter is that with no NBA games the sports betting business will be, as gamblers are fond of saying, leaving a lot of money on the table. While the NBA isn’t the industry’s cash cow, it does bring in revenue and wagers will definitely be impacted.
Our colleagues at CalvinAyre.com covered the topic of how sportsbooks, and the wagers they take, are going to handle the NBA’s sudden decision to suspend its season. The bottom line here is that this is the time when players should really be taking a look at the fine print in the rules of betting at the sportsbooks where they lay their wagers. For the most part, wagers on cancelled games will be treated as a push. Bodog, CalvinAyre points out, has a clear policy for cancellations which reads, “If an event is postponed, rescheduled and/or relocated before it starts, that event will automatically be graded ‘No Action’ and your money will be refunded to your Bodog account.”
They do make it clear, however, that the world of total wins wagers is about to be upended. Bodog again says, “In cases where the unplayed game(s) would have an impact of the result, all wagers will be settled No Action.” This could have a huge impact on analytics players who lay wagers on futures.
In short, the NBA suspension will have a huge impact on sports betting. So far the NCAA Men’s Basketball Tournament, which is a major cash cow for sportsbooks, is still on though it’s going to be played without audiences. If March Madness gets shut down, however, the sports betting business will take a huge hit.