Online casinos have been trending since the outbreak of the COVID-19 pandemic. Globally, gaming sites have witnessed a boom in business, thanks to an unprecedented increase in web traffic. Consequently, thousands of gamblers have signed up with casino websites resulting in millions of dollars in revenue. While such incidences help explain why online casinos have become popular in the second and third quarter of 2020, the resulting profits are mind-boggling. The big question is, why have online casinos become the biggest trend in 2020?
Which business model do they use to thrive amid a pandemic as ravaging as COVID-19. This post explores more, so read on for details.
A Difficult Year to Take, a Booming eGaming Sector
The year 2020 has been largely unpredictable, especially on the business front. It is a year everyone would want to forget like a flash. From grounded international flights, trimmed workforce, loss of jobs, empty football stadia to a relentless pandemic, everything about 2020 evokes bad memories. For online casinos, the surging number of customers signals a different view of the business world. The eGaming sector has been booming since governments around the world started enforcing lockdown measures to flatten the COVID-19 curve. In the wake of these trends, you should read the Africasino 2020 review before signing up to play the best online casino games.
Reports from several studies show that the Australian iGaming industry alone has realized a 67% increase in revenue since the pandemic outbreak. Another report published by Global Marketing Insights further shows that the U.S poker industry has witnessed an exponential growth of at least 43% in revenue since lockdowns took effect.
Zero Movements, More Game Time
Interestingly, coronavirus has not triggered a total collapse of the gambling sector. Instead, the eGaming sector thrives on, raking in revenue every day. Gaming platforms have registered an increase in sign up since lockdown measures were enforced around the world. As a containment measure against the contagion, lockdown means millions of people have opted to work from home. With it comes zero movements, pushing people to take up online casino gaming as a pastime activity.
In a significant way, COVID-19 has been a catalyst in the fast-growing online gambling sector since the global pandemic outbreak. More people signing up to play games on internet casinos means more revenue for the sector. A report by European Gaming highlights a 255% increase in first-time gamblers signing up with gaming sites since coronavirus broke out.
Play Anywhere, Anytime
From the mid-1990s, online casinos have slowly gained traction. Today, poker sites are among the most visited gaming platforms in the world. While the pandemic has triggered a digital migration that remained relatively slow for many years, the possibility of playing casino games anytime and anywhere in the world is commendable. It is especially the case with online casinos that have highly advanced mobile gaming sites.
It gets easier when gamblers can access their accounts via mobile apps. You could say, playing mobile games advantage over land-based casinos that you must visit to spin the reel on a slot machine. As the smartphone revolution becomes the new normal that powers internet casinos, millions of punters can place their bets on-the-go, anytime.
Secure Gaming, Extra Convenience, and Instant Payout
Despite the popularity that land-based casinos have enjoyed over the years, stashing winnings in a briefcase can be risky and inconvenient. However, with online casinos, the available banking system provides extra security to punters. It is easier to collect winnings from an online casino, especially if you have a digital wallet. Moreover, playing games online is convenient. Instant payouts further explain why internet casinos have become the most significant trend in 2020. You play, win, and cash-out to your bank, mobile wallet, or digital wallet on-the-go.
Online casinos are arguably the most profiteering business in 2020, thanks to a pandemic that has confined people to their homes. And as the world rolls out the initial phase of COVID-19 vaccination, a digital migration triggered by iGaming is underway. In a few months, the eGaming sector will grow even bigger, breaking long-held records in its wake. Trends that keep the sector afloat are here to stay, even into the unforeseeable future. Also, read this post about tips that will improve your social media PR.