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What the Gambling Industry Can Learn from Lockdown

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2021-03-03

Whether in their personal or professional lives, most people have had to endure difficult times at some point. While some are controllable scenarios, others like the COVID-19 pandemic are way above reach. So, instead of throwing hands up in the air and giving up altogether, you should adapt, and quickly for that matter.

What the Gambling Industry Can Learn from Lockdown

Gambling Before the Coronavirus Period

It will be foolhardy to think that COVID-19 is the root cause of all the gambling industry troubles. Even before most people knew the word "coronavirus," the gaming world was already grappling with ever-shifting regulations. In most mature gambling markets, authorities have been introducing stricter rules to ensure safer and more responsible gambling.

For example, UK punters would know this exceptionally well. On April 14, 2020, the UKGC introduced the credit card ban claiming that credit card gambling can lead to personal financial harm. The strict VIP gambling rules followed this on October 31, 2020. This rule states that a player must confirm their source of funds before joining a VIP program. While these rules may seem "mean," they are supposed to protect players in the end.

But there was also some bright news for operators and players alike. 2020 saw more European countries open up their borders to more online casinos, albeit with stricter regulations. More newly licensed gambling operators mean more options for players, more clients for the operators, and more revenue to the government. TV advertising has been one of the primary beneficiaries as brands look to build awareness and grab a market share.

Who Are the Biggest Winners?

First and foremost, the many dull months of lockdown have brought most dads and moms home. People now spend quality time with their families like never before. But what does this mean for the gambling industry? In general, most punters who prefer land-based casinos had to embrace online gambling as the safer solution.

Fortunately for them, online casinos offer pretty much everything they get in a brick-and-mortar casino. These casinos provide high-quality table games, video slots, scratch cards, Esports betting, and so on. Players also enjoy more bonuses playing online than on a physical building. And that's not to mention the money players save playing online. That can be bus fares, car gas, and other multiple expenditures that are common in a land-based gambling setting. All in all, it's just a matter of time before online casinos scoop the lion's share of the global gambling industry.

What's the Prediction for the Future?

While several verticals may be making cuts of promos and advertising, the gambling industry is sure to hold its own. There is a wealth of sporting events that are sure to kick off after the pandemic is fully controlled. Globally, major soccer leagues such as the EPL, Bundesliga, Serie A, Bundesliga, and La Liga have resumed with a handful of fans allowed inside the stadiums. That is certain to increase as the world enters a post-coronavirus period.

Speaking of the post-covid period, the industry will be eager to see how players who moved online will behave after the opening of most land-based casinos. The prediction is that most of these players will stick online due to the unmatched convenience they are now enjoying. Mobile phones are even making it better as players can gamble pretty much everywhere. What's more, the wealth of bonuses available online is irresistible. So, don't be left out of this ever-growing gambling trend.

Conclusion

Gambling is an activity enjoyed by many punters for thousands of years and employs millions worldwide currently. Therefore, no matter how dire the situation is, it's paramount that all stakeholders ensure its survival. The gambling future is undoubtedly in your hands now than ever before.

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