The current global COVID-19 crisis has led to an increase in the number of people who are choosing to visit online casinos and sports betting sites. According to a recent publication from Business Wire, this is a major contributing factor to the expected growth of the online gambling sector over the coming years.
It’s thought that the industry will grow from $58.9 billion in 2019 to $66.7 billion in 2020. The rate of growth is set to continue with the market expected to be worth around $92.9 billion by 2023. New technology will also have a positive impact on this growth. For instance, in Finland players are signing up to the best pikakasinot 2020. This means instant casinos in the local language. Players find it easier to join these casinos as identification is done directly using their bank account. This ease of play is one reason why more people are choosing to play online, but it’s only a very small part of the story.
Why are more people gambling online?
Some of the people who are now choosing to play at online casinos would normally visit a land-based casino, in cities such as Las Vegas. However, as has been reported, Las Vegas had been affected by COVID-19, just like many other cities.
This has led to people opting to play online while they have been subject to restrictions. Even now that land-based casinos have reopened, some people have chosen to stay away while the virus is still a risk.
Of course, this is not the only reason why more people are gambling online. Some other potential factors are.
- The need to fill time and keep occupied.
- The potential to learn new games like poker, to keep the brain active.
- The social aspect of being able to interact with other players.
Faced with the current uncertainty around the pandemic, it’s likely that many people will continue to gamble online. They may also continue to do so after life returns to being closer to normal.
What people new to online gambling need to be aware of
The pandemic is already leading to psychological issues for some people. This is why people who are gambling online for the first time need to make sure that the experience is fun and enjoyable, rather than increasing their problems.
For this reason, there are certain things that new players need to be aware of.
- Not all online casinos are as good as others. With this in mind, it’s a good idea to play at an online casino that is licensed and which has a good reputation.
- There is always a chance that help will be needed while playing at an online casino. This is why it makes sense to make sure that a casino has 24/7 customer service available, before playing. Preferably, there should be different methods of contact such as telephone, live chat and email.
- Making sure that a casino has encryption in place helps to protect personal data and financial information.
- Casinos give players the option to set spending and playing time limits. Using this option means that players are less likely to get carried away and spend more than they can afford to.
If new players are aware of this information, and act sensibly, they can enjoy the online casino experience.
In summary
There is no doubt that the online casino industry has experienced significant growth recently, much of which is due to the COVID-19 crisis. This growth has been due to more people taking up gambling online while they have been restricted in their activities.
Across the world, some of the restrictions are being eased. It remains to be seen what effect this will have on online casino play. However, current predictions are that the industry will continue to grow. It will be interesting to see if these predictions are correct. It will only be possible to do this once the pandemic is under control and more parts of life have returned to normal. When this happens, and people have more activity options available, it will then be possible to tell if the online gambling industry will continue with its high level of growth.