The COVID-19 pandemic that struck early last year hit many industries hard. It’s fair to say that some will never recover, and others have thrived. The pandemic has led to the closure of land-based venues which led to staff firings and reduced overall revenue.
On the other hand, the online casino industry has done well since the first wave of closures. Players didn’t have any choice but to play games online. With millions of people locked in their homes, online casino sites have seen a huge jump in new subscribers. The online gambling market was already on the rise before the pandemic but the outbreak gave it the push it needed to overtake the land-based gambling industry.
Passing the Torch
Gambling online was popular for years before the COVID-19 virus. It took over land-based venues because it’s simple, offers more games, huge bonuses, and you can enjoy it anytime and anywhere from your phone. However, it still needed a big push in order to come on top of Vegas. It did so during the pandemic, when the numbers of people playing online jumped up to the sky.
With lockdowns around the world, people engaged with technology in different ways. Online casinos exploded in popularity which helped the industry thrive. Of course, it also opened up potential problems including gambling addiction, but for the industry alone, the pandemic was a hit.
Ban on live sports was another spark that fueled the rise of online gambling during the pandemic. Online casinos have reported incredible numbers in the past 12 months, and it seems that they’ll keep rising in 2021. Where some industries have failed, online gambling has thrived in the pandemic. It’s one of the very rare industries that will enter out of the lockdowns with lesser financial damage.
No Signs of Slowing Down
When it comes to online gambling in the COVID-19 era, only sports betting took a hit for a while. The ban on live sports has led to lesser numbers, but they were back up once sports returned. A year later, online gambling and betting shows no signs of slowing down at all.
All the numbers and statistics indicate the rise. The average deposit amount per player is up, the weekly net revenue is up, and the gross gaming revenue is up too. On a global scale, the numbers are truly skyscraping, doubling the expected revenue in a time where many industries are suffering.
Due to slow vaccine rollout we still haven’t returned to the normal way of life, and that includes casino gambling. While many venues have reopened with COVID-19 protocols, the online gambling industry is here to stay. Many loyal Vegas players have converted to online gamblers, and new ones are fully focused on online casinos. The industry is evolving at an unprecedented rate, coming up with new ways of engagement that will drive players toward gaming sites.
If there’s one industry that has thrived during the pandemic, it’s online gambling, and that trend will continue.
Interesting related article: “What are Games of Chance?“