Is the online gambling industry thriving now that people are staying home more? A question with a somewhat obvious answer, one would say. But is the answer really that easy? The online gambling industry is also having different stance on the question. Let’s take a look at some of the points experts have been making when it comes to the benefits and drawbacks that came for the new online casino community because of the pandemic. As with everything else, the answers are never black and white.
The Benefits for Online Gambling due to the Pandemic
People are staying home more. That means they have more time, easier access to online gambling platforms and on top of that are bored out of their minds. It’s natural that they would seek new experiences, entertainment and can venture in the world of player’s favourites such as roulette, poker, slots. There is no rush, more occasions to just sit down and spend some quality time on the internet, which increases the chances of clicking on one of the many online casino vendors. In fact, a lot of people are doing exactly that, some out of eagerness to try something new, some simply because they have more time to enjoy doing what they love. E-sports are getting more popular, bringing a great opportunity for the vendors to include them in their betting lists. Payments and withdraws can be made online so it seems like this is a thriving moment for online casinos. New visitors are coming in and the regular ones are spending more time betting. Surely, that if very beneficial for the business and it brings a lot of revenue for the companies.
However, on the other side come the economic crisis, cancellations of sports leagues and the world just basically stopping. A lot of people are losing their jobs; they are losing their income instead of increasing it which greatly lowers down the amount of disposable income they have to spend on occasional fun gambling. Players, who enjoyed having fun from time to time and visiting online casinos, are now struggling to buy necessities so the last thing on their mind is betting the little income they have away. In some cases, people simply don’t have what to bet. Of course, there is always the chance to bet a little and win a lot but when you have the uncertainty of losing your job and not being able to buy food lucky wins are not the main thing one puts their money on. Another issue is the cancellations of a lot of sports games. Sports betting bring a lot of profit to online casino vendors and with no leagues there is nothing to bet on. Not everyone is a fan of e-sports and it just leaves a lot of the casinos simply not making any profits.
With the above points we can see that there really isn’t a clear answer on whether the pandemic is benefiting or harming the online gambling sites but we can definitely say that it has changed it a lot. In hindsight, the situation is less harming for the online casinos than it is to the land based casino industry, having closed a lot of the buildings for visitors but when it comes to actually being a good thing it certainly goes towards a negative outcome. The pandemic has had an influence on almost every sector of the economy and the online gambling Industry is certainly not thriving more because of it. The benefits that have come are probably just enough to keep the industry afloat while everything else gets settled.