Everyone's familiar with the impact that Covid-19 has had on the global economy. Many businesses have been hit directly by the government measures around the globe as a result of the spread of this virus. However, other business sectors have thrived during this worldwide crisis. So it's only logical to ask the question - Are online casino games more successful as a result of the Coronavirus?
For the most part yes, they have enjoyed an increase in popularity since most people had to remain at home due to the restrictions. And as a result of being in lockdown, people have more time on their hands to play online games including slots, poker and other casino games.
Even more astonishingly, the entire sector will supposedly grow by over 10% this year, despite the global pandemic!
The Online Gambling Market is Expected to Grow By 13.2% in 2020!
According to a recent report by Research and Markets, the online gambling sector will grow from $58.9 billion (in 2019) all the way up to $66.7 billion in 2020 (1). This fascinating projection means that there will be a supposed 13.2% increase that's also based on the current events with an expected $92.9 billion market value in 2023.
And as you probably already imagined, this overall market growth stems mainly from the Covid-19 pandemic. The restrictions regarding land-based casinos and the whole home confinement situation mean that there are more players enjoying online games now.
Moreover, the revenue generated by participating in such remote gaming activities includes both desktop and mobile devices that are becoming more and more widespread. Another thing worth pointing out is that the report mentioned above also points out that the observed market consists of gambling establishments ranging from casinos to sports betting and poker games.
The Owner of PokerStars Expects Record Revenue During the Pandemic!
The Stars Group (the company that owns PokerStars) expects a massive jump in revenue by a whopping 27% based on a year-to-year analysis during the first 3 months of 2020, as cited by the Inside Asian Gaming magazine (2).
In fact, the supped increase in revenue for The Stars Group hovers around the $735 million mark. Additionally, the online gaming company attributes this rise primarily to the surge of their casino and poker games during the global pandemic.
Subsequently, the huge spike in earnings that the company behind PokerStars saw started in March when global revenue jumped by 44%. That coincided with the Coronavirus measures that were applied to an awful lot of countries.
Eventually, it's safe to say that online casino games have enjoyed quite the rise in popularity and revenue during the Covid-19 outbreak.
As shown by relevant reports and data in the business it's apparent that this rise in revenue isn't restricted to only one or two companies within the sector. In fact, quite a few online gaming operators have reported similar increases during the pandemic.
So this is a great opportunity for you to jump in the iGaming bandwagon by making your own casual casino game/s!
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