The forced self-isolation of people around the world, caused by the coronavirus pandemic, provoked a lot of discussions in the community. They were all related to the likely growth of the online gambling vertical. However, to what extent were the expectations justified? Is this a stable indicator and what consequences can market participants await?
Casino Market introduces a brief guide on the predicted future of the iGaming industry and the reality that happened a year after the beginning of the pandemic outbreak. Meanwhile, you can get proficient assistance in setting up a lucrative gambling environment.
Order our turnkey casino solutions that we adjust to the regular changes in the sphere.
Online Casino Expectations under Coronavirus
Many experts of the internet gambling industry began to focus on possible scaling of the entertainment in conditions of self-isolation. As a result, several assumptions were made about the iGaming sector, with a few particularly popular among operators.
Casino Market offers to see how truthful they found to be:
| Many players will turn to online gambling entertainment under quarantine conditions | Land-based gambling halls closed all over the world, while the need for amusement remained. Multiplying the free time by the thirst for gambling activity, we get an increase in the attendance of internet casinos |
| Risks associated with gambling problems will appear shortly after the introduction of quarantine measures | People in the lockdown with a difficult economic situation may begin to perceive gambling as an income, and not as leisure. Renowned casino brands adhere to the principles of responsible gambling, limit access to their sites for people with addiction symptoms and help fight the occurred problems |
| New virtual gambling establishments will flood the market but only the most elaborated will be able to compete | After a lot of gambling halls were temporarily or permanently shut down, a lot of entrepreneurs decided to fill the gap and organise online casinos. Many of them were not licensed and poorly set up. As a result, only those establishments that received professional support and legal operation permit managed to withstand the market competition |
These predictions even became the reason for tightening the operation of gambling establishments in some jurisdictions. Restrictions on industry enterprises in different countries ranged from the introduction of spending limits to a complete ban on gambling operators, as, for example, happened in Latvia. However, were there any real grounds for concern? And did the boom that everyone feared really happened?
The Influence of Covid-19 on Top Gambling Websites
If you take into account the indicators of the industry from different parts of the world, you get a real picture. It is more appropriate to consider this aspect in each country individually with the examples of the largest representatives of the world gambling market:
- Paddy Power Betfair. British tycoon reported revenue growth of 15% over the same period last year.
- FanDuel. A leading member of the American market reported record growth rates. The company’s income has tripled. The organisation noted that the growth was driven by increased market participation and revival of the online poker vertical, and not due to slots or other table games.
- Indian market. The region is indicative of increasing the volume of online gambling operations. Several large online platforms immediately announced a significant increase in transaction volumes, a huge rise in the number of engaged users, and the duration of online gambling sessions.
So, if we average the indicators provided by Indian licensees, it turns out that during the first week of quarantine, the volume of traffic on gambling platforms increased from 15 to 25%. At the same time, the number of transactions increased by 20%. Depending on how large and popular the platform is, the number of active users has increased.
The gambling industry as a whole experienced the gap created by the land-based segment. As a result, the GGR of the internet sphere is expected to increase by 10% and amount to $63 billion by the beginning of 2021.
Forecast of Biggest iGaming Markets
Despite the global COVID-19 crisis, online casino operators have quickly adapted to the new realities. They implemented many fresh solutions to provide users with a safe and comfortable game.
The authorities are also actively responding to the current situation and tightening control over the gambling business. In such conditions, operators have to study different markets carefully in order to choose the most appropriate jurisdictions.
The Casino Market analytical group believes that the following destinations are the most promising in 2021:
- Germany. In October 2020, the country passed a new law that allows online gambling. These measures are expected to contribute to the rapid growth of the market. In addition, the country implemented an interim decree, stating that online casino providers are given time until July 1, 2021, to prepare for the new legislation.
- Great Britain. The country is a home for the largest bookmakers and gambling operators. For foreign players, this area is attractive because of the absence of taxes on winnings, which is also the main reason for the increase in the share of online gambling.
- Malta. The jurisdiction licenses land-based and digital gambling establishments, bookmakers, lotteries and social games. Operators are attracted by loyal and stable conditions, changed in particular to meet Coronavirus realities. In particular, one of the key benefits is the low tax rate of 5% on income.
- Canada. This country has a soft approach to gambling. The regulator does not license operators, but citizens of the country can visit online establishments that operate under a licence from offshore jurisdictions without breaking the law. It means that providers are allowed to offer their services in the country while targeted from other regions. Besides, Canada has not tightened existing regulations even in the context of COVID-19.
- The United States. Great prospects await for operators planning to work in this country. The legalisation of various directions of gambling is predicted in most states. Active discussions on this issue will continue in 2021 and can lead to fundamental shifts in this issue due to the demand of the iGaming sphere.
The Main Things about Online Gambling under Covid-19
The casino sector is living through an unprecedented period connected with the Coronavirus. While the ground sphere has complicated times dealing with the consequences of the pandemic, online establishments have proven to be ready for such circumstances.
The assistance of the Casino Market company ensures a foolproof strategy during the Coronavirus pandemic.
Our experts monitor the regular changes in the world and provide precise analysis, including the facts about:
- the main expectations about the rise in the number of online casino clients due to the closure of brick-and-mortar facilities;
- the benefit of proficient elaboration of casino projects and their advantages in comparison to unregistered platforms;
- impressive numbers shown by several top providers of gambling entertainment in different jurisdictions;
- changes in the online gambling perception for distinct markets and governments’ adjustment to the experiencing events.
The professional assistance from Casino Market guarantees a reliable development path to a lucrative project. Order the finest gaming solutions from our company and let no Coronavirus affect your gambling business.
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