The impact of Covid-19 on the gambling industry
Covid-19 has affected every single industry across the globe in some form or another. When it comes to the gambling world, the cancellation of sporting events across the world obviously had a major initial impact on revenue streams.
However, as sport gradually returned – albeit behind closed doors for the time being at least – so too did an uplift in these markets. This was accelerated by more games and events being broadcast via a wider range of mediums than ever before. A trend which helped to generate a bigger and more captive audience. In addition, firms with a strong offering in areas such as online poker and casino games enjoyed a significant uptick in website traffic, as the boredom of lockdown helped spur new account sign-ups.
It has not been an easy time for the gambling industry and, inevitably, the firms who have a more diverse offering will be the ones who found it easier to navigate the initial lockdown period. There is also a theory that Covid-19 will probably result in a faster rate of US sports betting legalisation, potentially followed by online casino legalisation, and this will be an interesting story to follow in 2021.
This month’s top five gambling-related news and views from around the world
Indian Gambling Companies Want to be Categorised as Esports and Gaming
The US is still the land of opportunity thanks to online gaming and sports betting
Sports Betting and Casino Prospects in 2021: ‘BJK’ Ready to Shine
Polish sports betting market sums up 2020: STS named the market leader
German economics group derides country’s online gambling tax plan
German economics group derides country’s online gambling tax plan