As the ongoing Covid-19 pandemic continues to change entire lifestyles and authorities have started transition plans into a new normal, businesses all around the world have gotten a face lift.
The gambling industry has seen the effects of this new reality as many industries have. On one hand, land-based casinos closed due to local lockdown guidelines have seen massive drawdowns in traffic and revenues. There’s no better reflection of this effect than the licensed casinos found in Las Vegas, which reported a 30.57% loss in March 2020, compared to the revenue they earned last year.
On the other hand, online gambling sites have reported a significant boost during this same period of time; a 25% increase on online slot machines and a staggering 40% increase on virtual sports betting indicate that the demand for this kind of entertainment has not gone anywhere, and people looking forward for a place to place some bets have found ways to get their “fix” without leaving their homes.
This is not a reason to be alarmed, but as online gambling sites might become part of a new normal, we should at least be more wary with either our own money, or a friend or family member’s savings. While there are ways to partake in these kind of activities, there is enough evidence that the excitement to win big in a single sitting can be disastrous for some people.