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The rise of online gambling during the COVID-19 pandemic

Last Updated on 2020/05/14

During the COVID-19 pandemic, a large part of the world’s population, to avoid the coronavirus, lived confined to their homes.

Many of the daily habits of each of us have been suspended. It was no longer possible to go to the bar, restaurant, work, school, and casino.

The restrictions due to protective measures to prevent the spread of COVID-19 which has already infected over 4 million people worldwide, and causing nearly 300,000 deaths, have prevented many companies in the gambling industry from operating, causing losses for millions of dollars.

Despite the lockdown, numerous gamblers continued to play using online platforms.

Many players, unable to go to casinos and with many sporting events canceled, had to find other solutions to satisfy their desire to play.

According to some sources, data released by the New Jersey Division of Gaming Enforcement (DGE) show how the volume of money played online has grown significantly in April. New Jersey’s licensed online gambling operators generated combined revenue of $80m, a 118.6% gain over April 2019, and $ 15m better than the previous record set in March 2020. Pokies online were more than tripled year-on-year to $ 5.15m.

Many online operators posted new records in April. For the year-to-date, overall online revenue is up 78.5% to $ 251.85m, with casino rising 79% to $ 239.45m and poker up 70.8% to $ 12.4m.

Online gambling or gaming sites are expecting major growth in the U.S., reaching a value of $ 102.9 billion by 2025, according to one report. Ease of gambling using a computer or smartphone is expected to propel the segment growth over the period. Europe is expected to continue its dominance till 2025 while Asia Pacific will register the highest growth rate owing to the increased adoption of smartphones, younger population, and legalization of online gambling.

States have experienced an overall jump in earnings from online gambling sites, like cinemacasino, but a decrease in revenue in sports betting. If online casinos and poker are doing very well, the same cannot be said for sports betting, which due to the cancellation of numerous sporting events, have not been able to operate regularly, and have undergone an 87.6% decline on a basis yearly.

Many players have turned to illegal internet cafes or dangerous online sites that do not guarantee the same security as casinos.

In addition, many players spend even more time and money online to escape the boredom and anxiety generated by the global pandemic.

Image source: unsplash

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