The COVID-19 pandemic has changed how we operate in a big way. Most things are being done online more. Even companies that didn’t have a website are forced to sell their products online. You can also see the effects in the gaming industry. Online casinos like https://rocketplay1.com/versus have highly grown in popularity since 2020.
In this article, we’ve curated how the gambling industry has grown because of the academic. Is it an overall business increase or a rise in the number of websites? Have gaming platforms recorded higher profits? Continue reading to understand this mystery.
A 20% increase
According to David Henwood, the Director of H2 Gambling Capital, we can attribute 20% of gambling activity in 2020 to online gaming sites. He said this at the Sports Betting USA’s annual conference.
The 20% was an increase from 13% recorded in 2019. It means that 80% of gambling happens somewhere else.
When you consider the amount of cash people spend on gambling annually, there was $17 billion spent on gambling globally in 2020. 20% of that is slightly below $3.5 billion, which is huge for online gaming websites.
If you consider that land-based casinos recorded a massive loss than any other gambling sector, this revenue says a lot. In 2020, land-based casinos recorder a 39% drop in revenues. Online casinos also recorded a 7% decrease, but this should not be a surprise considering covid-19 had enormous effects on people’s pockets. However, these numbers show that online casinos dominated during the pandemic.
Increased options to spend
The rise in demand for online sites in 2020 saw more options for punters open up. We saw hundreds of websites providing bitcoin payments or slots only come up. Some sites only allowed players from specific countries, while others allow punters from across the globe.
Increasing gambling activities have also brought a rise in gambling problems. Players are choosing not to play on some sites. However, there are multiple alternatives for players, thanks to increased competition. Punters seem to be getting the best deal.
More bonuses
With more online casinos coming up, websites had to know how to attract new players to their websites and compete with their competitors. For gaming sites, this meant providing big welcome bonuses to entice new punters into registering.
The rewards include spins and free cash, matching deposit bonuses, etc. However, getting a player to register is not enough. The online casinos have to know how to keep existing players happy. Just like physical casinos, you’ll find rewards/VIP programs that give weekly bonuses to loyal players to keep them playing in online casinos.
What can people expect in the future?
The pandemic is beginning to reduce in some countries meaning land-based casinos and other physical establishments might start opening soon. However, the availability and convenience of online casinos will offer an exciting twist. People might still prefer gambling online, meaning the online casino profits will still be on the rise.
This is a paid guest post.