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How Covid19 is affecting online gambling

by Staff writer
13 May 2020 at 19:37hrs | Views
For months now, coronavirus has spread mayhem across the globe in the form of illness and death on a large scale. Although tragic, there are lesser consequences to the spread of this virus that nonetheless have a large economic impact.

Businesses including professional sport, live music and restaurants have felt the pinch of lockdown in recent months, causing the loss of millions of jobs and billions of dollars worldwide.

Conversely, some industries have benefitted from the lockdown caused by COVID-19. These include the alcohol production business as well as the online streaming industry among others.

Online gambling has been affected by COVID-19 in many ways and in this article, we will take an in-depth look at exactly how things have been playing out.

So, without further ado, let's take a look at how COVID-19 is affecting online gambling…

Increase in participants
Over the past couple of months, more and more people have been signing up to online casino sites to enjoy games of every kind. These include punters migrating to online casinos from sports betting, which is of course on hiatus, yet they also include complete newcomers to gambling entirely.

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Clearly, it seems that with people spending more time at home with nothing much to do, online gambling is a perfect way in which to pass some time in an exciting and potentially lucrative fashion.

The worry from some quarters
Whilst the boom in online gambling is no doubt exciting news for those in the business, it's fair to say that some people have expressed worry as to the consequences of this rise in participation.

In some cases, government officials and committee members have said that the increase in online gambling puts problem gamblers at risk.

However, with schemes such as GamStop allowing players to ban themselves from online gambling sites, it seems that such claims may be a knee-jerk reaction to the increase in players. Add to this the huge number of support lines and services open to those with gambling problems and it seems that the boom in the industry during the COVID-19 pandemic has been a healthy one.

Overall, COVID-19 has been a boost for the online gambling industry in many ways. With an increase in revenue thanks to heightened participation in online casinos because of a sporting shutdown, those in the business will hope that this surge continues long after lockdown ends.
Source - Byo24News