How international online casinos have fared during the corona crisis

The coronavirus crisis has had a significant financial impact on every type of industry in almost every country, and the gambling industry is no exception to this.

We are living in unprecedented times at present, with some form of a lockdown or social distancing guidelines being in place for many countries in Europe, Asia and beyond. These measures range from simple distancing requirements to full closures of schools and all but essential public buildings and businesses. The most strict lockdown measures have been seen in India, France, China, Italy, Poland, New Zealand and the United Kingdom.

In the UK, all retail gambling venues were shut down on 20 March. Therefore, activities that usually generate up to 50% of the industry's revenue were suddenly halted. However, this page lists top international online casinos for people to be able to bring their favourite gambling venue to their homes.

Scientists have predicted that there will be some form of lockdown measures in place around the globe for at least the next year while countries continue to work together to develop and test a vaccine against the virus.

As a result of these changes, the international gambling industry has seen a significant shift in the types of games people are playing and the frequency at which they are playing them.

What has happened to the betting industry?

Almost all major sporting events have either cancelled or postponed, putting a stop at all sports betting in the UK and abroad.

The Gambling Commission found that in March 2020, the total number of real event bets placed was down 31% in comparison to last year. However, it is important to note that Cheltenham Festival, a popular horse racing event, took place at the beginning of March before the country shut down. This event usually causes the number of sports bets made to surge at this point in the year. Had this event been cancelled, we could have expected to have seen the decrease in bets to be much lower in comparison to March 2019.

Use of online casinos has increased in recent weeks...

The coronavirus crisis has not caused financial losses for all areas of the gambling industry. Many online casino sites have seen a big increase in demand for games such as poker, slots and roulette. Many people have been using these sites to keep themselves entertained whilst stuck at home.

This increase in online casino usage is most apparent amongst those who consider themselves to be regular gamblers. Recent surveys have shown that 28% of regular gamblers agree that they have used online casinos more than usual during the crisis, while 11% said that they believe themselves to be gambling a lot more than before.

Those who would usually place bets have been discovering new types of games to try now that many betting opportunities have been cancelled. A survey showed that 41% of people who previously placed bets and now opened up a new online gambling account over the last few weeks as the pandemic has taken hold.

Similar reports have also been made by countries outside of the United Kingdom. Portugal is another example of where online casino usage has changed in recent weeks.

A large gambling industry exists in Portugal and has been growing rapidly over the last few years. In 2019, the eleven casinos that operate in the country generated gross revenue of over 315.2 million euros. Similarly to Britain, this country has seen more regular gamblers logging onto online casinos on their smartphones and laptops in order to stay entertained during the country's enforced social isolation measures.

Fears about increased gambling addiction…

Charities that help individuals with gambling issues have raised concerns that the coronavirus crisis could cause a spike in the number of people suffering with addiction issues. There is also concern that people who previously overused gambling sites could once again face the same issue as they struggle at home in social isolation.

The NHS Northern Gambling Service has stated that other significant risk factors include stress, boredom, financial issues and job insecurity.

The extent to which this problem has grown as a result of the new pandemic may not become apparent for some time. This is because it can take a long period of time before someone with a gambling problem seeks help from services and support groups. They may not realise that they have a problem until it puts a big strain on their finances or relationships.

However, there are a wide range of online tools and services that gamblers can use to help them keep healthy gaming habits and many of these are actively encouraged by online casino operators. For those that need to stop gambling, blockers such as Gamstop can be put in place to restrict access to gambling websites and apps.

Overall, the coronavirus crisis has had a big impact on the international gambling industry, particularly for sports betting. However, players have adapted and have made use of online casinos to discover new games or to continue to enjoy their favourites. Providing that these sites are used responsibly, they are a good way of helping those in isolation to have fun and relax during these difficult times.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes