Online Casinos Making Money from The Pandemic

Online Casinos Making Money from The Pandemic

COVID-19 has affected nearly every business. Many restaurants, bars, waterparks, shopping malls and other facilities had to close their doors with the lockdown. And casino halls are not the exception. Big casino houses lost much money in 2020 and keep losing it till now. But there is a rule: when a majority is suffering, there is always a minority that is blossoming. This time it was about the online gambling industry.

As a result of the outbreak and subsequent closure, traffic to casinos and gaming websites grew. In reality, many people who considered themselves gamblers began to play casino games online. Even those who were not involved in gambling before started to visit casino sites because they were bored at home and had nothing to do. In this article, we try to figure out how casino sites managed to grow in the time of the total collapse. We got in touch with gambling experts from Exycasinos, and here is what the team says.

What about statistics?

The absolute record was registered in the state of New Jersey, USA. Online casinos managed to make $996.3 million (almost a billion!) in wagers there in December only. Speaking about total revenue, it was even more exciting – around 6 billion dollars! It is a 33% increase comparing to 2019.

Online casinos are not the only ones that managed to make money during the lockdown year. Betting sites earned $21.5 billion, which is 60% growth comparing to 2019, and the iGaming industry made $1.6 billion, which is a triple income to what they made in 2019. 

Reasons why

Interesting research exists out there. It claims that more than half of the global population is involved in gambling activities at least once a year. With the pandemic and lockdown, these people had to stay at home. They couldn’t attend their favorite casino halls and started to search for an alternative. And they found. Online casinos can be accessed from homes and have no restrictions. Their majority is mobile-friendly, which brings clients who love spending time laying on the sofa and staring at their cellphones. Anyway, there is no argument to the fact that online casinos only starting to gain popularity and some land-based casino houses already invented online versions to match the trend.

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