In the middle of the COVID-19 outbreak, many industries and sectors are facing tough times ahead. We have already seen the disastrous effect the virus has had on the travel and tourism sector. Restaurants, clubs, bars, cinemas, cruise liners, hotels and airlines have all been struck, and many people are being laid off as well. One of the only industries that stays unaffected is the online gambling industry. In fact, online casino sites are currently experiencing a massive boom in business, owing to the people now stuck in homes. As more and more people are self-isolating, the demand for digital entertainment has risen exponentially.
Land-based Casinos Losing Customers
However, we can not help but wonder what the future has in store for gambling establishments, both online and land-based. The pandemic is already having a significant impact on the betting landscape, and while casino websites may be thriving, for now, there is no telling how long this will last. Land-based casinos across the globe have already experienced a massive drop in revenue due to the effect of travel bans, lockdowns and social distancing. The mega-resort casinos in Las Vegas have seen a decline in the number of visitors and those numbers might drop even further as the virus continues to spread. Measures are in place to try and stop the threat of contagion, such as checking temperature before letting guests enter, increase in cleaning schedules, and most recently, a ban on food buffets. However, as the spread grows, more Americans will stay at home.Many industry insiders are predicting that these vast, land-based casino establishment will now push to grab a piece of the online pie.
A Push For Online Outlets In Asia
Laws throughout Asia currently restrain citizens from gambling online. A change in perspective towards online gambling in China, for example, would mean that Chinese citizens would no longer need to travel to enjoy casino games. If the land-based casinos launched their own online casinos with government approval, gamblers could have access to regulated casino sites, and the government would easily gain through an increase in Tax revenue.
An Uncertain Future
For now, it looks like the online casinos are withstanding the COVID-19 storm and actually reaping benefits from it. However, the question is if it will last. Mostly, the online gambling industry will soon experience a drop in revenue because gamblers will not be able to afford to spend their money on entertainment, especially ones that might lead them to losing their money. If people are not making money in one sector, then they are not going to spend money in other sectors.