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Will Online Casinos Continue to Grow in Post Pandemic

Written by:
Payton
Published on:
Dec/02/2021

In early 2020, during the onset of the Coronavirus pandemic, many industries all over the world had been forced to temporarily or permanently close due to lockdowns. That greatly affected the economy and caused great loss not just for businessmen but also among workers.

One of the industries that was badly hurt by the restrictions is the casino gambling industry. Since most casino games require close contact (which is prohibited to stop the spread of the virus), on top of the fact that it’s not considered an essential business, casinos were forced to shut down. Even now that the restrictions are slowly relaxing, many casinos worldwide are either still closed or have limited numbers of guests to be allowed to play. That leads people to visit online casinos to play their favorite games. It seems the only logical choice today to protect their health as they can just play in the comfort of their homes.

Since many people are being herded to play online casinos as they’re confined in their homes, the industry’s market skyrocketed and had enjoyed its popularity among gamblers. Although the industry had been thriving even before the pandemic, it’s undeniable that the pandemic somehow became a blessing in disguise among the online casino operators. 

Online gambling during the pandemic

Some studies show that regular gamblers are 6 times more likely to engage in online gambling than before the Coronavirus took place. The study led by the University of Bristol found that male regular gamblers are especially prone to online gambling during the lockdowns in the United Kingdom compared to their gambling habits previously reported. 

Moreover, the study also shows that respondents who gambled on live casinos occasionally are about twice as likely to gamble online. Those who also reported having struggled financially before the pandemic had also gambled online during the lockdown.

In another brief research report, online gambling became another Covid-19-related concern, alongside mental health issues, online gaming, and excessive internet usage or internet addiction. 

But given the circumstances, would they still continue to enjoy such growth after the pandemic?

Online casinos after the pandemic

It is expected that the online gambling market will register a Compound Annual Growth Rate (CAGR) of 11.94% from 2021-2026. Online sports betting will be the fastest-growing segment during the said period, though popular high-paying slots and other RNG games are also growing fast thanks to mobile casino apps.

Meanwhile, since sports betting sought a significant increase in player turnout, online gambling sites are expected to expand their sports betting options during the forecast period which could further contribute to the market’s growth. However, more stringent online gambling regulations may be expected to slacken the growth rate slightly.

Moreover, the increase in female players, as well as the benefits of the cashless mode of payment are among the top drivers for the increasing gambling market.

On the other hand, since many people had already signed up for online casinos and were getting comfortable playing in them, it is believed that these people are more likely to continue playing online even after the pandemic.

There are few specific reasons to explain these claims, so let’s go through them.

Comfortable gaming experience

What made transactions online more favourable among consumers is that it’s more convenient and easy to utilize. In the comfort of your home, you can already pay your bills, shop, bank, date, and gamble.

In online gambling, you may access casino websites anytime of the day, wherever there’s an internet connection. If you’re not really sociable, online gambling could be an advantage for you since you don't have to drive to casinos, put on some good clothes, and/or have a drink with other people.

Safety

Online gambling at home protects you from any danger, may it be a virus, rowdy patrons, or any possible fights like the ones you see in casino films. That’s because you’ll have total control over your environment. 

Fair warning, though, you should also make sure that you’re only accessing legitimate and licensed online casino websites to avoid fraudulent acts like money laundering, identity theft, and other common issues related to the internet.

Legitimate casino websites have independent testing proving their games are fair, as well as encrypted software that protects all personal information, strong anti-money laundering measures, and age restrictions. If you don’t meet these standards, you may be blocked from playing. That makes legitimate online casinos a safe option.

Easy to partake

Online casinos nowadays already have easy-to-use platforms regardless of the device you’re using. That means that even when you’re just using your smartphone while playing, you’ll still get the best gaming experience you can expect.

Also, signing up would only take a few moments and then you’re free to play any game you have. Since money transactions are available online, depositing or claiming your price should not be a concern.

Crypto gaming

Another market that enjoyed its popularity during the pandemic is the investment in cryptocurrency (or crypto), hence the expansion of crypto gaming. For instance, the value of Bitcoin soars to unexpected amounts making fortunes along the way.

Cryptocurrencies are a big deal in online gambling since they have various qualities that can benefit users such as swift payment transactions, low fees, and as well as anonymity of the user.

Crypto may be notoriously volatile but it can have many benefits that could drive players to gambling.

Those are just a few of the positive things players may consider to continue gambling online - of course, aside from the promise of entertainment. 

Although the pandemic drove online gambling to the pedestal, there are more factors to be considered why the online casinos will still continue to be relevant even after the pandemic. Online gaming definitely benefited from rapid technological advancements like cashless payments, expanded internet reach and the increase of internet users. These things are critical factors that will realize the online gambling market growth forecast.

It’s also worth noting that online casinos are not difficult to market since it can cater anyone, even those who don’t prefer playing with other people. More importantly, it’s not as intimidating as the actual casinos.

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