14.8 C
Thursday, May 30, 2024

No products in the basket.

HomeGamblingBusiness of GamblingHow the Corona crisis affected People and Gambling markets

How the Corona crisis affected People and Gambling markets

After the start of the COVID pandemic, the situation on the global gambling market is constantly changing. Offline casinos around the world are quarantined, so players are successfully moving to the Internet. Meanwhile, gambling is a business that not only stays afloat but also brings profit in difficult times of crisis. So, how to make money on gambling during the Covid-19 pandemic?

The Effect of Corona Crisis on People

The coronavirus pandemic forced everyone to stay at home, which means that people began to look for new entertainment. Virtual casinos, online pokies, streams, esports – all this helps to entertain yourself while in quarantine. Many started gambling because of the boredom, so on average, the traffic volume is constantly growing. The particular success of online casinos is noticeable in those locations, where casinos operated offline before the pandemic, for example, Germany and the Czech Republic.

Today, players have enough time to enjoy the game in their favorite casinos, poker rooms, and slot machines. Like computer games and streaming services, online gaming is not only a leisure activity. This type of entertainment also helps relieve the stress and anxiety that most people experience today. The psycho-emotional state during the global crisis, financial instability, lack of work are also factors causing the desire to distract.

The Response of US and UK Markets

In the United States, where online gambling is only allowed in a few states, New Jersey has become the undisputed leader in terms of growth in gross online gaming income:

  • The State’s Department of Gambling Control noted that online revenue was $64.8 million in March 2020, which is almost twice more than in March 2019 ($39.1 million).
  • P2P betting increased by 90.6%. One of the most influential operators in New Jersey, Borgata, recorded a 124.6% increase in online revenue.

Meanwhile, the impact of the pandemic on the popularity of online gambling in the UK was studied in the Survation survey. Here are the most interesting points:

  • Despite the lack of sporting events, nearly two-thirds (64%) of regular online gamblers either gamble as much as they did before or more after quarantine.
  • 41% of regular online gamblers have registered on new gaming platforms.
  • 34% of gamblers believe that they spend too much money on gambling or feel addicted.

Based on such indicators, the UK government urged key market players to use all possible measures to ensure that people do not have problems with gambling during the quarantine. The Council on Betting and Gambling, which unites 90% of the country’s operators, has already announced the voluntary removal of all advertisements of gaming products on television and radio by operators until the end of 2020.

In Conclusion

Finally, the global crisis has affected absolutely everyone and has become a test of strength for all types of businesses. However, online gambling not only survived but began to aggressively increase its share in the gaming market. Once the epidemic will end, but it is clear that not all gambling fans will return offline. 

Recent Articles