Online Gambling Market – Impact of COVID-19

Online Gambling Market – Impact of COVID-19

Image by whekevi from Pixabay

The overall impact of COVID-19 goes far beyond the awful infection rate and the horrible loss of life.

Even for those of us lucky not to contract the disease, the financial uncertainty it has brought to industries in Canada and around the world means a knock-on effect stretching into 2021 and beyond.

Layoffs and the closing down of previously popular and flourishing businesses continue apace with lockdowns continuing to be demanded in parts of Canada, though the gambling industry may be the exception rather than the rule.

Michelle Thomas is our writer and she has some great information on this, and many other subjects, available here.

How Has the Gambling Industry Coped in 2020?

The USA was particularly hard hit with the COVID virus on its eastern seaboard, something you can read more about at this very website, but it was far from the only place. Many countries have seen their economy damaged beyond quick repair but the iGaming business and the online gaming industry has continued to do well.

However, some online casinos have flourished during this time, such as Wildz for example, as people are forced to spend more time at home instead of in the office and we take a look at this in more detail.

There Has Been a Marked Rise in Players

There has been an increase in searches for online casinos during 2020, though there is no doubt that the habits of players have had to change during this time.

Online casinos have indeed even benefited financially from the global pandemic due solely to people being kept away from their work and at the same time looking to relieve stress and boredom.

With live sports canceled for large parts of the year, however, gambling habits increased but were not the same as before. New players are now trying out online poker, slots, and even eSports with developers responding quickly by adding newer and more exciting titles all the time.

The growth in customers in the industry means more staff are needed and that is one positive among all the doom and gloom, something we hope stretches on into 2021.

Online Migration Is at An All-Time High

Generally speaking, not just the gambling world but everything else around it has had to move online during the pandemic.

Working from home is the new norm for many Canadians, with people shopping and even socializing via the web instead of venturing out of the house.

This of course is maybe just expediting what was always going to come in the future, and in terms of gambling the new stats don’t necessarily reflect nations having a massive gambling problem, but rather the industry is stealing a march on other forms of online entertainment which have yet to catch up.

Can the Gambling Industry Keep Up This Pattern?

In the shorter term, no. It stands to reason that when casinos are back up and running and music concerts, professional sports and other forms of entertainment are once again open for business some of the money spent in the iGaming world will dry up.

Not completely though, as the industry has basically welcomed in a whole new customer base during the unfortunate pandemic and not all of those new players will want to kiss it goodbye in 2021.

Linking up the gambling world with other existing forms of digital play is the trick, such as the understandable crossover now between eSports and betting which looks set to be capitalized on.

Conclusion

The gambling world has profited from this pandemic, it has to be said, but not in a ghoulish way. It is hoped for the sake of those who work in the industry that this can continue in 2021.

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