We’ve all been wondering what the effects of Covid would be on entertainment.
Few of us were only too happy to get some downtime for our hobbies. To make things even better, the World Health Organisation changed its anti-video gaming stance to accommodate the lockdown’s lack of activity.
What has the crisis done for the gambling market, though? How have establishments like online casino Hungary been affected? As we suspected, the industry has grown. We speak to Peter Deli on the topic.
How Did the Pandemic Affect Gambling?
It Created a Greater Demand
The lockdowns and continued impact of Covid-19 has been taxing. Individuals often look for an escape when faced with overwhelming stress. For many, the way out is increasingly digital entertainment.
Activity on social media is booming, despite the somewhat troubling trends that took over the platforms. They didn’t prove to be that much of a release from the ongoing crisis though.
Many resorted to other measures like gaming and had enough casino time for a lengthy escape. The brick and mortar regulars were already flocking to virtual casinos in droves. It didn’t take bettors long to shift their support to the online venues.
The smarter ground-based operator caught on to this too and moved their operations onto the Internet. Waiting for them there were regular gamers forever happy to try out new brands and ideas, as well as novices picking up iGaming for the first time.
Research shows that 51% of the world takes part in a gambling activity every year.
With the lack of other entertainment options, the world turned to game online. Global online gambling statistics have seen increased participation of 9.3% in 2020.
Room for Market Growth
Opportunists abroad also anticipated that Covid-19 would bring about changes in the economic climate. They knew from similar scenarios in history that these circumstances were apt to create new opportunities. So they waited for their moment.
As a result of the actions of a few enterprising souls, web casinos began to experience remarkable growth. So much so that new brands popped up daily.
According to the expert Peter Deli, the inundation of fresh providers created confusion among gamers. Every other site was happy to host casino ads because they translated to revenue in uncertain times. The Internet gamer was harassed with popup ads for online gambling marketing.
The industry is already solid with the exposure it’s gotten. Web gaming has been around for the better part of 30 years. Individual casinos are struggling to compete for a slice of the market where 2800 brands operate globally.
The Casino Business Post Covid
Many of the analysts’ pre-Covid forecasts suggested that the global casino industry, valued at $155.55 billion in 2019, would reach $256.97 billion in 2025. These projections didn’t take into account a worldwide pandemic.
The other industry that has taken a forward leap amidst the chaos is the tech industry. It’s been in sync with the gaming scene for a while and thus prepared to meet the sector’s needs. Smartphone accessibility is a significant consideration in both markets.
The online casino stands to thrive way after the pandemic allows us to return to physical spaces.
The ability to gamble from a mobile device allows the bettor to enjoy their favorite pastime wherever they go. Ground-based casinos will still get their patrons, as there is nothing like the real thing, but the level of convenience offered by Internet gaming will always enjoy the favor that current circumstances have granted.
For many a new gambler, the discovery of the online casino market is a pleasant surprise. The industry has been around for three decades and was flourishing even before Covid-19. The pandemic only raised the ceiling on the possible returns. With the help of tech created in the wake of the coronavirus, we’ve seen online gambling on the rise.
The greater demand created an opening for new enterprises, and thus many new brands appeared on the scene. The playing field has somewhat leveled. New operators in the industry are enjoying the same patronage as the veteran brands. The only limitation in the bid for more patrons is the amount a company can afford to spend on marketing.