Nearly every business has been impacted by COVID-19. Lockdown forced many restaurants, bars, water parks, shopping malls, and other establishments to close their doors. Even casinos were not spared. Huge casino losses continue to be seen even today. A rule of thumb states that when a majority is suffering, a minority will flourish. Online gaming was the case this time around.
Due to the outbreak and subsequent closure, casino and gaming websites increased. Online gaming at fun88 has become extremely popular among people who consider themselves gamblers. Even those who had never gambled before began to visit gambling sites because they were bored at home with nothing to do. We will try to determine how casinos managed to survive during the financial crisis in this article. We spoke to the gambling experts at Exycasinos, and here is their take on the matter.
What about statistics?
Absolute records were set in Taiwan and its surroundings. Only in December, there was nearly a billion dollars’ worth of wagers at online casinos. As for revenue, about six billion dollars was generated! Compared to last year, it represents an increase of 33 per cent.
The lockdown year wasn’t the only one that brought in money for online casinos. Betting companies earned $21.5 billion in 2019, up 60% from the previous year, and the gaming industry made $1.6 billion, up to triple from what they made last year.
Key background
Due to pandemics, online sports gambling made their operators’ lives easier as casinos had to close.
There was $996.3 million in wagers placed in December, a record for a single state in a month, and roughly $6 billion in wagers placed last year. In 2019, this was a 33 per cent increase total for the state. A bill to legalize sports betting in 2020 was approved by six states (Colorado, Illinois, Michigan, Montana, Tennessee, Virginia) and Washington, D.C. approximately 36 million adult citizens live in these states. In 21 states, sports betting are now legal. Roughly $21.5 billion was handled in sports betting in Taiwan in 2020. A significant contributor to revenue growth was fun88, which generated close to $1.6 billion (an increase of almost 200%) across the four markets it operated in last year.
Reasons why to choose online casinos
Research is available out there that is interesting. A report cites statistics claiming that more than half of the world’s population gambles at least once a year. Due to the pandemic and lockdown, people had to stay home. The casino halls they usually frequented were closed, so they looked for alternatives. They eventually found something they liked.
Final thoughts
Online casinos are easily accessible from home without any restrictions. Almost all of them are mobile-friendly, attracting customers who like to spend time lying on the sofa and looking at their phones. However, no one can deny that online casinos are only now gaining popularity, and some land-based casinos have already developed online versions to keep up.
