COVID-19 has become one of the biggest threats to people across the globe. As it is spreading at vast speed and killing many people every day, the government of many nations has declared the lockdowns. In addition to affecting lives, coronavirus has also hampered various livelihoods. Offices and businesses have shut their doors to the public for safety reasons, and gaming houses are not left unscathed. The bustling nature of these businesses draws in large crowds. Such proximity between individuals is strongly advised against by health officials in line with the discoveries about the COVID-19. It seems like the world has changed in many ways since the COVID-13 strike at the beginning of this year. The latest pandemic quickly spread across the globe, causing significant problems to countries due to limited resources. Many nations have applied restrictions for social interaction, limiting public movement. Hence the search interest in online casinos has hit an all-time high all over the world since the lockdown. Though there is an overall drop in land-based casino gambling, across the online casino industry there has been an increase in players searching alternative options in online casinos and playing.
The change in player behaviour
The world is already experiencing another economic crisis, and since the virus is not expected to disappear soon, businesses need to adapt their processes to survive this period. Even though experts predicted an increase in the online business sector before the pandemic, no one could have predicted this level of growth. Online gambling was and still is the answer to the problem. As expected, many companies experienced a major spike in their online gambling sectors. Many people who used to go to land-based casinos to play roulette, cards or slot machines are now migrating to online casino betting. Additionally, since all sports events are suspended due to coronavirus, traditional online betting on sports needed some adjustments. Sports events like NBA and NFL matches, soccer leagues, F1 racing, even college leagues are postponed for an unknown period, which means that people who like to gamble are only left with online casino games like poker, roulette or slot machines. Many of the online casino owners said that they had seen a massive increase in online business, and they hope that this will make up for some of the lost revenue from real-world casinos. Experts predict that the virus will have a long-lasting impact on businesses that will need even a few years to recover. Casino businesses need to adapt to this change and anticipate the online movement just because this can also change the gambling habits in the future. There are many reasons for this surge in online casino activity. Let us dive deeper.
1. Quarantine life is causing a spike in online activity
As the virus is keeping hundreds of millions at home, players worldwide have found a new and advanced option to keep themselves busy as well as entertained.
2. Sports betting cancellations, suspensions, and postponed events
To limit large gatherings of people to stop the spread of the virus, baseball, basketball, hockey, pro soccer, college basketball, and more have all been suspended. This is disrupting people’s lives in so many ways and leaving millions of sports bettors worldwide very disappointed. Hence people are turning to online casino games, like slots, Roulette, cards, and Poker instead.
3. Due to plain right boredom
It is pretty obvious that the more we stay at home, the more time we spend online, looking for something to do. That is also why many thrill-seekers, looking for excitement, are turning to online gaming, simply to get some action, from home. Others do it to escape the monotony of routine, perhaps from the family, or for some nice alone time.
4. Online Casino thriving during the pandemic
The online casinos stand to attract millions of people to sit in their homes during the lockdown and enjoy gambling. You can find hundreds of online casino sites that offer instant play gaming platforms where you do not need to download any software to play casino. One of the significant benefits of online casinos is that you will get the RTP’s and payout percentages that are much higher on games like video poker and slot machines at online casinos as compared to land-based casinos.
5. Safety from the threat
People are completely avoiding visiting land-based casinos to prevent falling victim to this epidemic. You do not have to worry about catching the virus by going out in the public or large gatherings as you can play from the safety and security of your room.
Technology advancement in online casinos
Technologies such as Blockchain, IoT and VR are changing everything in every field including even how one can gamble in an online casino. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are a revolutionary addition to the world of online gambling. With VR, one can enter into a virtual casino and play all the games without having to travel. However, the concerns of fraud and cheating can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. This will help in preventing fraud and greatly increase the trust of people having these online gambling sites. These technologies, therefore. have the biggest impact on the online gambling market.
The foreseeable future
Just because of the recent situation, businesses are operating in muddy waters, and it is tough to predict the outcome. However, the online gambling increase can result in lowering the revenue of the land-based casinos even when the situation clears up just because more people would stick to online gambling. This is a huge wake-up call for casinos that still do not have an online gambling option. Some casinos are making more drastic changes to adapt to the recent situation. The online gambling industry is growing rapidly. This year it is expected that the online gambling industry will come out with 3-figure increase numbers. This is a significant result, and it is the only way to cover some of the losses that these kinds of businesses in the land-based world are facing. Since no one can predict when this crisis will end, casino owners need to see the bigger picture and adapt their processes to survive this period. Stay safe and happy playing!