As the rest of the world, the coronavirus pandemic as affected the US economy in different ways. It’s highly likely that there would be a long-lasting impact from this pandemic. Every sector from entertainment, education, retail, and hospitality has been left with no option but to adopt some changes in these challenging times. Like all others, the casino gambling industry has been impacted by COVID-19, mainly because of the massive lockdown since March. Read on to find out why the online casino gambling post lockdown will be more profitable.
Casino Changes Due to Coronavirus Crisis
With many of the land-based casinos, bingo halls, and betting shops closing down businesses, gamblers have been left with no choice but to enjoy gaming activities online. Essentially, almost everyone has been asked to comply with the stay at home order. And with nothing much to do, many people have turned to their desktops and mobile devices for some form of entertainment.
In the same way, the only option that gamblers have been left with today is to sign up with the best new USA online casinos to play real money games. The same has been happening in the UK. Nevertheless, these changes have resulted in the UK Gambling Commission drafting new rules for casino operators.
This includes banning the reverse payouts that allowed players to change their minds after initiating a withdrawal. With the reverse withdrawals, gamblers can halt the cashout and keep wagering with the winnings instead. Even though it has its share of advantages, it can also inspire players to continue playing resulting in increased cases of problem gambling.
The new rules that have been created are meant to prevent gamblers from developing problem gambling. Also, they are purely for preventing those people who already have gambling issues. With these new guidelines, casino operators are not allowed to offer promotions, bonuses, and other incentives to gamblers showing symptoms of problem gambling.
Essentially, casino operators will be required to look out for players who stay at the casino for extended periods. The operators will be required to engage players who stay on the site for over 1 hour to check whether there is something that they should be concerned about.
Changes In Casino Gambling Post Lockdown
Gambling activities that account for over 50% of the sector’s revenue have currently been put on hold. This is because many gambling establishments are taking time to evaluate their options and try to adapt to the increased consumer demand about the current circumstances.
One of the most significant changes in gambling activities has been in sports betting. Technically, sports betting, especially for sporting events in the USA have been put to a halt with many activities postponed or cancelled around the world.
In comparison to the same time last year, sports betting numbers have reduced by 31%. This figure might have been significantly lower were it not for the NBA & NFL. These two leagues are considered to be the most popular sports events in the USA and other parts of the world.
Truth be told, it is highly likely that even after the lockdown is relaxed, most of the entertainment and sports events will not resume and get back to normal immediately. This is because large gatherings of people without social distancing might result in more spikes in the spread of COVID-19.
With some European countries, such as the UK already resuming their sports events, the English Premier League to be specific, the future of sports betting seems great. Although fans are not allowed to physically attend the events, technological advancements allow us to stream the events live to our homes. Closed-door sports activities are an option that is being considered by many in the US sporting market.
On the other hand, the land-based casino gambling numbers have significantly reduced as the number of gamblers playing in new online casinos has skyrocketed. A recent survey shows that 60% of online players have increased the amount they spend online playing. The same applies to their expense; players are now spending more playing real money games.
With the payment issues that have faced American players in the past, operators have now established bitcoin casinos to make it easier for players to deposit and withdraw their winnings.
The survey figures also indicate that about 40% of players who used to frequent land-based casino establishments have opened casino accounts online during the lockdown. It is for this reason that the future of online casino gambling post lockdown looks bright.
Online Gambling The New Normal
What many players and operators are thinking about now is what the future holds for both offline and online casino gambling post lockdown. Although no studies have been done in this regard, the metrics show that many players will continue playing online.
The only drawback is that, as the online casino gambling continues to grow even post lockdown, their land-based counterparts will most likely experience a major downfall. This will be a major point of focus, especially with the social distance has become the new normal in the US, and other parts of the world. Although positive progress is being made, it will be a long time before everything returns to normal.
How the Gambling Sector is Making Profits During COVID Lockdown Measures
Analysts have forecasted in their recent report that the impact of Covid-19 in the United States that has resulted in land-based casinos shutting down can result in faster growth of online casinos and online bookmakers. The state and nationwide lockdown that was established to control the spread of the virus has changed the way many people gamble. Today, thousands of gamblers are now transitioning to online gambling establishments.
With land-based casinos shut down and travelling severely affected in many parts of the world, more players are turning to online gambling. It is an undisputed fact that more people are now playing popular casino games such as blackjack, poker, and slots online.
As a result, it’s highly likely that the revenue generated by online gambling sites will explode by the end of 2020, helped by the need to keep a distance and isolate, thanks to the coronavirus.
Sports Betting Adversely Affected
The past few months that the world has suffered one of the biggest crisis ever, have seen almost all popular sporting events postponed or cancelled indefinitely. For example, in football, the NFL was postponed and the Tokyo Olympics were pushed back. The same has happened for tennis, boxing, golf, soccer, and other major competitions.
Essentially, this leaves punters with very little to bet on considering that the current crisis has affected all the global sporting brands. It is also important to take note of the fact that even sponsors of major sports competitions have been affected and most of them are reporting a downtrend in business
Why Try Online Casino Gambling Post Lockdown
Millions if not billions of been have been ordered to stay at homes these past few months as a way to control the spread of coronavirus. To some extent, this has resulted in huge benefits as the world has seen a huge drop in the number of new cases. However, the drawback of this is that it forces people to stay at home for more than one month can result in all types of mental and physical health problems. The option to play casino games online is viewed by many people as a great option at a time when levels of stress might be high, as well as anxiety and boredom.
Existing research shows that boredom on its own cannot lead people to online gambling as the best post lockdown measure. It is like more people are looking for a way to escape boredom during this crisis. Although the future of land-based casinos is not clear at this point, casino establishments are profiting from the wide range of casino games that will keep all players engaged.
The best thing that every player needs to do before they transition to online casinos is to make sure that they find the best establishment. In doing so, there are some important factors that you should consider when looking for the best online casinos. It is for this reason that you should check out Newcasinos.org online casino reviews. We also provide the most informative casino guides.
Regular Players Are Gambling More
Gamblers who spend most of their time at the casino sites and sports betting sites are more likely to visit bitcoin casinos during the COVID-19 crisis according to a recent survey focusing on casino gambling posts lockdown. Also, the report indicates that many issues need to be taken into consideration. One of them being the dangers of developing problem gambling. With the current environment encouraging more people to engage in different ways of online gambling, our casino guide will be of great help to anyone looking for advice on what they must do when gambling online.
A recent study showed that about 40% of people opening new casino accounts on casino sites stated that they were spending too much time gambling and the same applies to the amount of money they are spending. Keep in mind that more online gambling activities are being undertaken via mobile phones. So, its highly likely that after sports betting resumes, many individuals will prefer to bet on their phones instead of travelling to land-based casinos for games such as craps and poker. If you want to try out your hand at the best casino games available without having to visit a brick and mortar casino, you can check out our list of the best new mobile casinos for real money games.
What’s The Future Of Sports Betting And Online Casino Gambling Post Lockdown?
The adverse effects of COVID-19 on the US economy in the long term will be immense. Experts have indicated that this will force many countries to seek alternative revenue sources. This will result in more countries legalizing online gambling. One of the many benefits of such endeavours is that the rollout of online casinos is much faster as opposed to that of land-based casinos. The revenue will start coming in as soon as the casino site is launched.
How Coronavirus is Taking Online Casino Gaming to a New Level
Today, lockdown measures have boosted player engagement with eSports and video games. Revenues for most gaming platforms and companies have increased during the COVID-19 crisis. The pandemic is quickly accelerating the current trends in the casino gambling industry; you should check our casino guide for the latest gaming trends out there.
eSports Gaming Post Lockdown
The worldwide eSports gaming sector is thriving, despite the huge disruption of economic activities by Covid-19. With the new practice of keeping a distance significantly reducing business activity and consumer interaction to the minimum offers, eSports gaming offers an interactive distraction for people staying at home seeking social interaction with other people.
Overall, the coronavirus pandemic will slowly result in the normalization of eSports. Analyses have predicted that eSports will be legitimized and popularized profoundly and unpredictably. This will be caused by the accidental adoption of eSports gaming by athletes, leagues, and broadcasters looking to engage fans. At the very least, the current crisis has reminded brands and media companies that there is more to online casino gambling. Nonetheless, its important to take note of the fact that problem gambling is much higher during this lockdown than ever before.
Casinos Requesting Options of Cashless Payment Options
The COVID-19 pandemic has had a huge effect on different industries since March including the casino gambling industry. Although the impact has been dreadful, it has to lead to the casino industry requesting cashless payment options. Also, there have been increases in the number of bitcoin payment options that are being set up due to the increased demand for casino establishments. One of the main reasons why many casinos are requesting to adopt cashless payments is because they want customers to avoid handling hard, cold cash during the COVID-19 outbreak.
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Ari Waknine was born in Brooklyn, New York and was the founder of iGamble Group, an online gaming critique firm that helps players pick online gambling websites that fit their profile, as well as, helping them to increase their winnings. He is also the founder of NewCasinos.org, and is strictly focusing on this project making stronger and better than ever.