When COVID 19 first hit, people weren’t sure what to do. They were losing their jobs and sources of income, did not know how to protect themselves from the virus, and had little or no information on the end of this ordeal. Many changes have followed the spread of the virus, the major ones working from home. Most people found themselves forced to work within the confines of their homes, while others had fewer shifts at work. But has it affected the online gambling industry? Let’s find out:
The closure of land-based casinos
As part of government measures to protect their citizens, authorities have closed most casinos. Some have allowed casinos to continue to operate, but have limited the number of people who can play at a time. So, avid gamers had to find another way to get out of the game, which led to the rise of online gaming. Of course, when gamers realized the convenience of playing with Miami Club Online Casino and other operators, they couldn’t help but stick to online gambling. Why?
- They could play from home without incurring transport costs,
- They didn’t have to pay for food and drinks in casinos,
- Most casinos had a range of payment methods that allowed them to use whatever finances they did have,
- Players did not need to dress to adhere to a particular dress code,
- Most casinos had social forums where players could interact with each other to avoid getting bored and avoiding the loneliness of being at home,
- These casinos offered a wide variety of games, which allowed players to find games with the best RTPs,
- There was no risk of contracting COVID 19 when you play online, and
- The minimum stakes at most of these casinos were affordable.
With all of these benefits and extra time on the hands of players, online gambling was only growing.
The introduction of new bets
People like to bet on uncertainty. This is why they will put money in to support a team in a final or bet on who will win an election. During COVID 19, people appreciated the new range of bets available. Some would even bet on the number of new cases that would crop up in a day. Others would put money on the color of the tie the president or prime minister would wear to the press conference. The whole gaming community was inundated with bets. Some were even on the dangerous side – some people were throwing parties with someone who was HIV positive. The bet? – the person who would catch the virus first! Of course, the authorities severely cracked down on such bets, but you get the gist. More betting opportunities were available, so even people who did not bet before were now encouraged to gamble.
The increase in problem gambling
Most people play for fun. They enjoy this adrenaline rush and know when to pull away instead of chasing losses. For these people, gambling is a normal pastime, not an escape from reality. But then others play to escape their problems. Studies show that people with ADD, stress, anxiety, and depression are more likely to gamble.
Unfortunately, during the COVID 19 closures, most people were stuck in their homes, which only made their distress worse. Many faced the death of loved ones, loss of income, and the anxiety of not knowing what the future held. So they resorted to gambling away from their worries. When playing to get away, you barely mind your losses – you want to win. This is why someone can gamble and gamble until they have spent their savings on a game, and yet they have no return. Then instead of stopping, they start selling their assets or borrowing money to fund their bets because they don’t know how to stop.
COVID 19 has seen an increase in problem gambling, which explains the increase in gambling revenue during lockdowns.
Loss of disposable income
Not all avid gamblers follow their gambling habits. Some have decided to stay away from gambling for a while. For some, the sudden loss of income prevented them from playing. Others, however, explained that they no longer felt the pressure to play because they were no longer with their friends. Finally, given the uncertainty about the future of the economy, some have chosen to keep what they had rather than risk it by gambling.
The growth of electronic sports
COVID 19 prevention measures have resulted in a temporary ban on physical sports. Fans couldn’t help but feel disheartened as they could no longer purchase tickets to watch their favorite games. To make matters worse, players couldn’t train together or even participate in friendly matches. They had nothing to offer their fans, who now had to look for alternatives. Electronic sports were the winners in this case, as players could still participate. So, anyone who liked to bet on physical sports could now find an esports in a similar niche. For example, football fans can now bet on FIFA matches and watch their favorite teams advance in the leagues. No wonder e-sports game revenues reached tens of billions of dollars in 2020!
For the most part, most gamers spent more time playing as they could now access the games online anytime and anywhere. They also had more free time and felt bored, stuck at home for long periods of time. Based on gaming revenue, online gaming has received a boost during COVID 19.
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