March Madness betting more rewarding than Super Bowl: William Hill CEO
William Hill CEO Joe Asher discusses the state of sports betting since sporting events and seasons have been canceled and postponed due to coronavirus.
It’s a difficult chapter for the sports betting business as the coronavirus pandemic sweeps the world, shutting down the United States and much of Europe.
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Virtually every U.S. sports league has suspended operations due to the outbreak, with the exception of UFC, leaving the industry in unchartered territory, according to Joe Ascher the CEO of William Hill one of the largest gambling organizations in the world.
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“We’ve seen in the past where maybe one sport, the players go on strike or there's a lockout, but we haven't had a situation where there's very little to bet on right now,” Ascher told FOX Business Stuart Varney. “So it’s a tough time.”
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Ascher said the virus comes amid one of the signature events for sportsbooks and also a big driver of tourism to Las Vegas. The NCAA’s March Madness, he said, brings in more money in the first three days than the Super Bowl. One of the biggest challenges is uncertainty.