Football fans all over the world are excited that the much anticipated EURO 2020 Championship commenced on Friday, June 11, 2021.
The UEFA European Football Championship, commonly known as the UEFA European Championship and informally as the Euros, is one of the major continental football competitions in the world contested by the senior men’s national teams of the members of the Union of European Football Associations (UEFA). The competition is held every four years to determine the continental champion of Europe.
The last edition of the Euros, held in 2016, was won by Portugal who defeated the host France 1-0 in extra time, making them champions of Europe for the first time in the history of the competition.
Thanks to COVID-19, the Portuguese side will go on to reign as champions for an unprecedented five years. The pandemic that rocked the world in 2020 forced the postponement of different sports competitions that were supposed to hold in the summer of 2020 to 2021, and that includes the Euros, Copa America, and Olympics, among others.
Because football is such a sport that unites people, every big competition always has an economic impact. This means business for bars, viewing centres, betting companies, and many more.
For football fans, some summers are such a boring period because most of the top leagues around the world go on break for close to three months, with activities slowing down or stalling for those whose businesses somehow depend on the round leather sport.
In Nigeria, once the top European leagues come to an end around May, many football fans pause their cable TV subscription and wait for the resumption of the new football season. This leaves cable TV companies with a significant loss in revenue. Also, bars and lounges that make the bulk of their revenue from football competitions are affected by this break.
In recent times, football betting has become a big business in Nigeria. A good number of young people see it as a way of making quick money. Cashing in on this, operators of betting companies can now be found in almost every street in the country. Huge money is being made from sports betting, and so naturally, a break in competition has a great effect on betting companies.
It is, however, a different story every year when a major football tournament falls in the summer. Anytime this happens, businesses that get patronages as a result of football competitions, get to do more business than usual. Having an ongoing football tournament of the magnitude of the Euros means fans continue to go to bars with friends to watch matches and by doing so patronise these bars. It means fans continue to bet on the games, and money keeps circulating between the gamblers and the betting companies.
It also means that those who would rather watch the competition from the comfort of their homes, get to subscribe for their cable TV, thereby making the companies more money than the normal summer when there is no competition going on.
The 2020 European Championship which is now taking place in 2021 will last for a complete one month. For football fans and business owners around the world, this is good news. It started on June 11, 2021, and will end on July 11, 2021.
Unlike in the past editions where one or two countries host the competition, the UEFA EURO 2020 is being held across the continent for the first time in the competition’s 60-year history, with 11 host cities in all. Final and semi-finals, two rounds of 16 games, three group games will all be played at Wembley Stadium London, England.
The format is the same as for UEFA EURO 2016. The top two in each of the six final tournament groups will proceed to the round of 16 along with the four best third-placed finishers. Also, the video assistant referee (VAR) system will make its debut at the European Championship in this tournament. There are 24 teams taking part in the tournament and they were drawn into six groups of four.
The tournament is so far living up to expectations with the few games that have been played already, and fans all over the world are hoping that it even gets better, more competitive, and offers more excitement.