Is There a Bright Future? Covid-19 & the Gambling Industry
More than a year has passed since the novel Coronavirus pandemic began to affect our daily lives. Governments applied strict health protocols to their constituents, including social distancing, lockdowns, and travel bans.
These practices have grim effects on industries that rely so much on large crowds and tourists. Apart from reducing the number of visitors, establishments also needed to follow certain measures, such as checking temperatures and consistent cleaning schedules. People needed to stay at home to contain the virus.
There is no wonder why betting companies experienced a significant drop in their revenues within a month since the protocols began. The worst case is they had to remain closed until the lockdowns were lifted. Unfortunately, this scenario continued until today, and there is no guarantee when things will return to their normal operations.
If you are here to learn deeper how Covid-19 affected the gambling industry, here are the top three consequences that casinos and other betting companies experienced in the last year.
#1. Cancellation or Postponement of Betting Events
Casinos and sports betting sites worldwide had to cancel their 2020 plans due to the pandemic. The suspension or closure of their operations sent their employees at home with the uncertainty of getting back to work. Moreover, it resulted in a minimum of 11% decline in the global gambling industry’s revenue.
In Canada, bingo halls, casinos, horse racing, and VLT networks came to a halt. Singapore, England, and Spain suspended their lottery draws, and Great Britain forced to close their bingo halls and betting shops. The USA and Europe also closed their professional league games and racetracks.
It was indeed the worst nightmare that could happen in the gambling industry. However, some companies got more creative as well to get by in this pandemic. Singaporean companies, for example, ask their bettors to guess the number of their COVID cases for the day. Still, it is not enough to keep the business afloat.
#2. Change of Betting Habits
This pandemic has also proved one thing. If you are a gambler, you will remain one no matter what happens. That is why bettors looked for other means to utilize despite staying at home and maintaining a safe distance from others. Thus, online betting sites are getting more attention.
The new normal setup that you experience nowadays also affected people’s betting behavior. They have become less interested in the events offered by physical casinos and other brick-and-mortar gambling sites. Instead, they would rather bet on an e-Sports game or play online bingo, roulette, and other fun betting applications.
They tend to focus more on ranking up on leaderboards or playing tournaments in ROG games. The good thing about it is that they can do these activities anywhere they go while keeping themselves safe.
#3. State’s Expansion of the Online Gambling Platform
The gambling industry has a significant impact on a country’s economy. Thus, more US states and countries today expanded their online betting platform by allowing bingo and lottery operators to run online legally. Most of the casinos in Quebec and Norway expressed to go digital and concentrate on their online platforms.
As a result, it also opened more avenues for bettors to explore. The poker and online casino sectors grew their revenue to at least 77% in 2020, and the numbers keep on soaring this year. In Australia, around 250,000 consumers spend on online gambling since the lockdown and travel bans occurred.
It proves not the end of the tunnel for the gambling industry. This pandemic has taught operators to adapt and become innovative if they wish to keep their business moving.
The Eth Roll’s System
Apart from the rise of online betting platforms, cryptocurrency is gaining more credibility in investors’ eyes. It also means that the profitability of these platforms is growing at a rapid pace. However, with more casinos and crypto websites appearing online, who would you choose?
EthRoll is a hybrid of gaming and entrepreneurship. You will not only engage on this platform to bet and win, but you can also become a shareholder and a casino owner.
Half of EthRoll’s ETR tokens are for sale to potential clients. In return, you can generate more funds based on the profits earned by EthRoll’s casino by staking ETR. You can also build your dream casino through its internal drag and drop system that does not require coding and expertise.
Again, adaptability and innovation are keys to surviving this pandemic. With EthRoll’s proven system, you can either improve your financial status or build your own business.
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