[Golf Topic] Gambling Companies Hit Hard by COVID-19 "Masters Betting Refunds"

[Asia Economy Reporter No Woo-rae] ○…The novel coronavirus disease (COVID-19) has also impacted sports gambling companies.

Westgate and other sports gambling companies in Las Vegas, USA, recently announced a regulation stating that "bets placed on guessing the winner of a golf tournament will be void if the tournament is not held within 8 days after the scheduled date." Due to concerns over the spread of COVID-19, the first major of the 2020 PGA Tour season, the Masters (April 9?12), which was postponed indefinitely, will have all related bets voided, and customers will be fully refunded.

With some PGA Tour events canceled, the sports gambling industry has also suffered significant damage. The Masters involves large sums of money and many participants. Westgate and others began accepting bets on the 2020 Masters winner immediately after last April’s tournament, which ended with Tiger Woods’ spectacular comeback. Over 11 months, substantial amounts of money were wagered. Bets placed via dedicated apps will be automatically refunded.

Bets placed at offline counters require a set procedure and take time to process. After experiencing the unprecedented Masters situation, Westgate has started developing new products that are not tied to specific event dates. The PGA Tour has already been hit hard by COVID-19. The Players Championship, known as the "fifth major," was suspended after the first round, and the Valspar Championship on the 19th, the World Golf Championships (WGC) Series Dell Technologies Match Play on the 25th, and the Valero Texas Open on the 2nd of next month were all canceled.

This content was produced with the assistance of AI translation services.