Online Gambling Soared in Popularity During the Pandemic According to Reports
ByCasino lovers around the world have had to
reassess their habits during this pandemic and use their imaginations. One of
the solutions was online gambling, which soared to new heights in 2020 and 2021
according to reports. Online gambling was already on an upward trajectory
before the pandemic but has exploded since it became the only option. Let's
take a look at the numbers and what the future holds for the industry.
While COVID-19 has been nothing short of a
catastrophe for land-based casinos, it has been a boon for online gambling. One
study found that the interest in online gaming among the general public
increased by 52% during the pandemic. The lockdown and safety measures forced
many players and non-players to stay inside and look for new ways to entertain
themselves.
Not only that, but many have expressed
concerns about a fourth wave coming, and this could further boost interest in
online casinos. Some players may end up going solely for online gambling after
seeing all the benefits it has to offer, namely not having to drive or fly
hours just so they can spend a few hours playing their favourite slots and
games.
Social distancing measures could continue
to be implemented as a safety precaution way after the pandemic is over, which
will negatively affect the gameplay and ambiance. This is another thing that
could continue pushing demand for online casinos in the next few years.
eSports also had a part to play in the
recent increase in interest in online casinos. Many sporting events had to be
cancelled during the pandemic and virtual sports became an alternative for
punters during that period. eSports betting was still relatively marginal up
until then but exploded from late 2019 to 2020.
It was estimated that the profits from
virtual sports betting accounted for only 13% of all profits for bookmakers in
2019, but this share has significantly increased in 2020. Many brick-and-mortar
casinos have turned to online platforms during this period, which brought tons
of new visitors in.
In 2020, one casino reported an increase of
40% in the number of players and a 20% increase in the number of bets, and
virtual sports had a part to play in it. We can also expect many punters to
stay on online platforms and continue betting on eSports events.
Now that online gambling is becoming a huge
source of revenue for governments, we can expect more jurisdictions to loosen
up restrictions around them. Across the US, state legislatures are reviewing
laws that restrict gambling. You also have countries like Belarus legalising online gambling recently.
Other countries like the Philippines, Italy, Spain, and Georgia are also
showing interest in the growth of online gambling.
Many other factors explain why online
gambling is so popular right now. One of those is the improvement of
infrastructure and technology. More people around the world now have access to
decent mobile technology and mobile connections. The ability to play on the go
is one of the main benefits of online gambling, but this was not a feature that
was available to virtually everyone on the globe until now.
The online casino industry has also done a
great job at luring people in by offering all sorts of bonuses to players.
Online casinos are much more accessible to new players and those with smaller
budgets, which should make for a large portion of the market in the next few
years. Until brick-and-mortar casinos learn how to treat low-ballers better,
they will have a hard time competing with online casinos.
For instance, it's not uncommon for online
casinos to offer money back on first deposits as well as free spins on some of
their top games, such as Play Live free spins from the Play Live Casino. They have
free spins in addition to bonuses and a great loyalty program. They
also have one of the biggest selection of games and slots you’ll find anywhere
whether it’s online or offline.
And this is another thing that separates
online casinos from land-based ones. The type of variety and selection online
casinos offer simply cannot be matched by traditional casinos. Space
limitations make it impossible for them to hold the number of titles the
average online casino has.
Online casinos can get away with more interesting
titles with innovative gameplays as well. It's not uncommon for slots on online
casinos to have a video gaming aspect to them where players can use their
skills to unlock bonus rounds or win prizes. This is something that will
attract a portion of the gambling market that would never imagine stepping foot
in a brick-and-mortar casino. Online casinos also try to attract traditional
players by offering multiple variations of classic games.
While some casinos expected restrictions to
be completely lifted at some point in time, things may get a bit more
complicated for the industry in the next few years. While some major
conglomerates like Caesars Entertainment started reopening in phases, they
don't know if new restrictions will be implemented and are using caution.
There might be trouble brewing for online
casinos too. While they've seen a lot of demand lately, there could be a
pullback as the global economy shrinks. There is also an increase in
competition in the sector. This is not only coming from new licensees, but
major casinos trying to enter the scene. Online casinos will need to be more
creative in their approach and offerings if they want to differentiate
themselves and retain players from now on.
It’s no secret that
the pandemic has been a windfall for many online businesses, including online
casinos. We still don't know what the future holds, but it seems like it’s a
perfect time to be an online casino operator right now.The Effect of COVID-19 on
Online Gambling Worldwide
The Impact of Virtual Sports
Legal Barriers are Falling
Other Reasons for the Rise in
Popularity of Online Gambling
The New Normal for Casinos