The past decade has been a revolutionary for the betting industry as a whole. The betting industry has seen a massive growth all around the world. The rise of internet speed has made some exceptional changes to our life and the industries are no different to these changes.
COVID-19 And Its Online Gambling Impact
The mobile phone market has gone a million mile in last couple of years. The mobile phones have brought a real revolution to the world. The online betting has gone to a whole different level with the evolution of smartphones.
The power of these smartphones is simply ridiculous. They provide cheap and instant internet on the go. This instant internet has brought a massive amount of people to the online betting industry.
The online betting industry has its own benefits. One of them would be the fact that it allows you to bet right from your home and earn millions. There are other benefits like there are a lot of statistics, experts and analyses available that can help you make better decisions.
The betting houses offer a some really attractive offers to lure new users into the betting industry. In order to bring people in they offer you all sort of lucrative offers. In these, the bonus codes and the promo codes are my favourites. They offer you some free bets and bonuses that can really set you on the go and sometimes even more. These are the ones that you should be really looking forward to.
There is no industry out there which has shown immunity from the effects of COVID-19. Where the physical availability of everything has been affected in various ways. There has been a huge impact on the demand and supply chain which has erupted a huge amount of business all around the globe.
Land based gaming outfits have had to limit their capacities and there has been a huge number to sporting events that has been cancelled. The cancellation has affected the online betting industry as well. Let us try to discuss more of these issues that this pandemic has brought in.
1] A look at the casino, Lottery and Sports Betting
The lack of football and the horse racing controls almost the 75% of the sports betting market. Most of these events were cancelled due to COVID-19. As a result, the industry has seen a massive retardation in sports betting.
A trend emerged from the scenario that people have switched to traditional poker and casino. It further increased people switching to the online betting. Even though there have been some huge losses for the industry but it brought a number of people to the online gambling and increased the sphere of the online industry .
2] The Regional Trends and Impacts on Global Gaming
The corona virus has had different effects on different regions. There are absolutely no doubt that global-gambling revenues are going to be very low. One research says that in 2020 there will be a 11% decrease in the global revenue, which of course will depend on the continuation of the various leagues all around the world.
This will have a very sound effect on the gambling market. The effects will be more on the offline gambling as they need physical appearance of people and make no mistakes that online gambling is under serious threat as well due to the challenges posed by the corona virus.
3] The curious case of Payment Partner
Well there is no doubt that this is a really challenging time for every industry out there and people are working very hard to fight their way through these difficult times. The online betting houses can make best use of this time to fix its payment issues and partner with absolutely best sand secure financial system.
Those who already claim to be the best in business also need to have a re-look and improve their current status. The very reason is that the betting industry thrives on the money and the most important thing for the people involved will always be the security of money.
We have already seen some of the online betting giants have taken this very seriously and some are following the path.
4] The Post Lockdown life and its effects: The online and Offline
There has been a number of restrictions on the players and the games itself due to the corona virus pandemic. it will be very interesting to see the trends after the lockdown restrictions are over and people are free to float around.
There is absolutely nothing concrete that can tell us how people are going to behave after the lockdown is over but there are few inferences that we can draw right- now. In my opinion we will definitely see a profound increase in the online betting, specially the online casino and the poker.
The sports betting will see a paradigm shift after the games can be restarted all around the world. The people are just waiting sit at their home to login to their favourite gambling websites and see some action. This will set the global economy on the run and there will definitely be a huge number of people wagering online.
On the other hand, the small offline betting outlets are going to be in a bit of trouble. Most of the major sporting events are going to be held behind the closed doors for now. This only invites a trouble for the physical betting outlets.
The cautious approach of social distancing will lead to a very small number of people to come out and gamble freely. This might lead to closure of a number of land-based betting outlets. The respective administration of every country should know how important these houses are for their economy and try to restrict these effects to as minimal as possible.
These gambling enthusiasts from the offline industry will obviously switch to the online betting. It wouldn't be as easy for them to master the internet and technology but a bit of literacy can go a long-ling way.
The online gambling industry just needs to settle the initial trust issues of the new players and then let them flourish freely in the world of online gambling.
