Before COVID-19, the online gambling market was already a global phenomenon and growing rapidly. But the coronavirus significantly accelerated the development of online gambling.
The popularity of Internet gambling increased dramatically during the Pandemic. Those who could not attend land-based casinos or betting shops immediately turned to online casinos, gambling sites, and gambling sites. Moreover, isolation has resulted in a sudden increase in the number of people who would not normally be gamblers who began to play online games, including gambling.
Even before the Pandemic, this was one of the fastest-growing segments of online entertainment. During the Pandemic, it just exploded as people flocked to online casinos, trying to find something to do to keep their sanity during the isolation. Also, there was an economic reason, as there were many people experiencing job layoffs and salary reductions. Internet gambling offered an easy way to increase their income.
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The growing popularity of online gambling during the Pandemic
Why have people, apart from simple interest and free time, plunged into online gaming in this challenging year for everyone? Many online casinos probably offered their future users a lot of benefits and bonuses already at the start of the registration process. Moreover, websites accepted such compromises even with regard to already signed up gamblers. In specifically, many casinos have started to raise the percentage of RTP. In other words, this indicates that the club clients have a better opportunity to win. All gambling games in the casino are also available in demonstrative versions.
The shutdown has forced millions of people to spend far more time in their homes than they used to. Thirsty for fun, they approached the Internet. Many of them decided to try gambling online for the first time, which led to a huge inflow of fresh users to Internet casinos and various other gaming platforms.
Players from countries where gambling is illegal also been part of this increase. Restricted by the laws of their lands, they were forced to use other ways to access online casinos, such as VPNs. Intentionally or carelessly, players manage to evade measures to restrict their access to the online gambling platform.
The first effect of this increase in online casino activity has been an increase in their revenues. According to some studies, Australian players increased their spending on online gambling by 20% in March and by 33% in April 2020. Interestingly, players who lived in families with children were more likely to increase their spending on online gambling.
The increase in spending can be attributed in part to the Pandemic and the unique circumstances it created. Another part of the explanation is the marketing efforts of online gaming platforms. They correctly predicted that people would have more free time and invest in marketing by offering them alternative entertainment. Many took up this offer, resulting in a massive spike in profits for all gaming platforms.
Popularity of cybersports
Humanity has already faced global epidemics of various diseases, and such disasters have always had a significantly negative impact on the economy and multiple markets.
But not all markets have experience quarantine and general panic, and the gambling market has never faced such difficulties as now: the banning of mass events around the world, the global quarantine and, as a consequence, the cancellation or postponement of almost all sports events expected by fans.
But not everywhere bookmakers are rapidly losing profits during the quarantine. When all the traditional events are cancelled and the standard scheme for bookmakers’ primary earnings collapses, cybersport appears. Cybersport content is becoming more and more every year. A couple of years ago, the biggest competitions in cybersport were “veteran” online games such as DOTA 2, CS:GO, and League of Legends; smaller projects are becoming more popular.
It is possible that the industry, which until recently no one took for a traditional sport, interested only insure fans, will face a massive flow of new fans. An underestimated niche by bookmakers will probably meet its dawn: no stadiums, sports associations and regulators, and for events, participants can not leave home, as everything can be conducted online. Viewing broadcasts of online gaming championships have skyrocketed since the quarantine began, as most cybersports fans have had the opportunity to spend time watching such broadcasts.
It is unclear how much of these changes will persist once the outbreak is over, although at most, some will survive. The increase in revenues is likely to be unsustainable in the long run, but given how fast they grew before the Pandemic, this is not a big problem. However, it is logical to expect a slight downturn when the Pandemic is over and people return to everyday life.
One thing that worries critics of online gambling and gambling, in general, is the research linking gambling to various socio-economic problems. As long as the government sets strict and fair rules and enforces them, gambling can be considered a net positive for society.
Indian online casino
Speaking of Indian online casinos, the interest in online gambling has grown considerably in our country, too, amid the coronavirus restrictions. And, it is worth noting that this growth continues to this day and has no tendency to decrease. Betstraexch casino is one of the reliable Indian resources, the popularity of which is steadily growing every day.