Lockdown Boosts Online Betting

Published: 05/08/2020 | Last Updated: 09/10/2020

Reading Time: 3 Min

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Online betting is one of the global favourite entertainments during the pandemic. Online casinos and sports betting were the online sources of gambling revenue in many countries.

The absence of online casinos and sports betting services boosted the online gambling industry.

Casinos worldwide shut down operations since mid-March because of the threat of the novel coronavirus. The gambling establishments sustained the losses during the months’ extended lockdowns as they continue paying for wages and health insurances of its employees.

The absence of land-based casino during the stay at the home mandate of government leaders opened the window to the growth of the online gambling industry. Lockdowns boosted the growth of the industry.

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Online gambling as the only source of entertainment during the pandemic

The cancellation and postponement of all major sporting events around the world contributed to the growth of the online gambling industry. During the lockdowns, people were trapped in their homes with gadgets as their only source of entertainment. Internet-related services saved people’s lives. People ordered food and other necessities online.

Online gambling sites took over the gambling industry. Gamblers from land-based casinos shifted their attention to online casinos and sportsbooks. Online casinos attracted more players because of its accessibility and the range of choices they offer. Unlike their land-based counterparts, gamblers can play in online casinos anytime and anywhere they are.

Online casino and sports betting platforms flooded the internet because of the growing demand for the industry. Countries around the globe are changing their perspectives on online gambling.

Online gambling in the US Gradually cements its foothold following the decision of the Supreme Court to lift the ban on the industry. Currently, more than 1 US states had online sports betting operations while more than five licensed online casinos.

Fast-growing online sports betting industry

UK’s online gambling industry flourished after the Gambling Act of 2005 took effect. The legislature gave power to the UK Gambling Commission to supervise the country’s gambling industry, providing guidelines on operations of online gambling operations.

Online casinos are the future of gambling, and the novel coronavirus changed the landscape. Online gambling will continue growing as mobile gaming rapidly develops. The rapid development in technology, especially on mobile gambling, contributes largely to the online gambling industry.

Operators saw hope when major sports events announced the resume of their seasons. However, global coronavirus cases predict further delays in sporting events and casino activities. The novel coronavirus continues spreading around the glove as health regulators report more new evidence of the deadly virus every day.

The novel coronavirus cases globally reached more than eighteen million, with deaths reaching more than 700,000 deaths. The UK reported more than 300 thousands infections, including more than 46, 000 death.

UK casinos remained shut down as the government heightens its novel coronavirus pandemic preventive measures.

The northern regions of the country remained with a high rate of daily infections. UK’s Gambling and Betting Commission questioned the decision of the government to retain the industry under lockdown.

The regulators emphasized its effect on the employment rate of the country.