The Impact of COVID-19 on Online Gambling Business

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The financial uncertainty the world is facing due to the existing COVID-19 pandemic has brought the economies of most of all countries to a standstill. Many layoffs and shutting of popular business establishments have taken place since the lockdown that started in late February or early March.

The end of this situation is still not at sight, and many big, medium, and small businesses are suffering due to this. All the major countries are working round the clock to come out with a vaccine to get rid of this unseen virus. The tests on these vaccines are in various stages, and the world might see a vaccine arrive by the end of the year 2020.

How Is the iGaming Business Doing during the Pandemic?

No one would have believed you if you told that the global sports activities would come to a total standstill in 2020 and would take months, if not a year, for the activities to be fully operational. They would have laughed at you and felt that you were off your mind. The truth is out there in the open, and the COVID-19 has taken a serious toll on all commercial activities. This does not mean that every business saw a serious jolt during the year 2020. Some of them have benefitted from the contagion. A few trades like the online casino business have seen both the positive and negative impacts of this pandemic.

Online Gaming Industry Saw a Rise in Players

The life-taking virus has altered the iGaming industry, and many of the casino websites have benefitted from this contagion. Many experts suggest that the businesses of the gambling websites picked up many folds during the lockdown period. This is because people had to sit locked in their homes and did not have anything exciting to do. So, they tried their hands at playing live dealer games or online slots to kill their boredom. The fans of online slot machines had time by their side to try out the titles they have not played. While some took to playing free online slot games, others loved to try out slots that had the Chinese luck icons as themes.

The internet gaming industry is one of the very rare sectors that can make it through this pandemic situation with less financial damage than most other business sectors. The gaming websites are doing brisk business and weathering the crisis better than the established brick and mortar casinos.

Many newcomers are visiting the casino sites to enjoy the thrills of spinning the reels or to play their favourite table games. The regular gamblers also are making it a point to play online so that they can hone their gaming skills. It looks like there are more people now playing casino games on the internet than before with live sports betting or other sports betting not fully functional. People have started to look for a new form of betting and have found solace in online gambling.

Popular UK Online Casinos Lead the Way

There has been a paradigm shift in the UK, with many of the gamblers switching to the internet casinos with many physical gaming houses shut. This crossover has seen a major boost in the user base of the popular gambling websites in the United Kingdom. The most popular virtual casino platform is Bet365, which saw over 20,500,000 gamers in action in April 2020. The other popular options like SkyBet, William Hill, etc., also saw an impressive number of gamers trying out various titles on the respective websites.

While many of the customers loved to play on their mobile using the apps, there were many who found great gambling entertainment on their desktops and laptops. With no sight of this pandemic to end soon, there is no doubt that there would be more and more gamblers turning to the internet to satisfy their gambling cravings.

UK Gambling Commission Reports

The United Kingdom Gambling Commission (UKGC) reports that there has been a significant rise in the percentage of people playing on the internet. They have seen an increase of about 25% in people trying online slots, and it has increased by about 38% when it comes to poker participation. This figure is for the first couple of months of the COVID-19 crisis. The real event betting has seen a drastic decrease logically, and the overall gambling revenues have taken a hit. The major revenues during the pandemic have come from internet gambling. The gaming industry revenues have seen a good boost, thanks to the regular gamblers trying out new ways and means to have fun and entertainment on the internet.

Online Migration Is at Its Peak

Everything in the time of this prolonged pandemic is moving online. Work at home is the norm during these times, and people now socialize and shop on the internet. This situation might be a signal or a sign of things for the near future. It might be leading and driving people to adapt to the digital age. The internet gambling businesses are seeing this as a positive sign and believe that they would see even more footfalls than before.

Also, with sports betting coming to a virtual standstill, the bettors are looking out for various other gaming options to try their luck. This constitutes a considerable increase in the number of UK people playing online slots, or table games or poker titles in the times of the coronavirus. The fact that the gaming websites are seeing many new subscribers signing up for an account since March 2020 is a hint that this industry will flourish even more these testing times.

Closing Thoughts

The pandemic has affected the stock markets all over the world. However, the internet gaming industry has seen an increase in their business since the start of this event. Those who are in this business will be hoping for more newbie punters to dive into the online gambling world like now, even after the contagion subsides.

Source: europeangaming.eu