It has now been many weeks now since we started to be on lockdown and it’s fair to say the everyone has been affected in some way. The gambling industry is no different. With activity
It has now been many weeks now since we started to be on lockdown and it’s fair to say the everyone has been affected in some way. The gambling industry is no different.
With activity in the streets and less income than ever before, most people have been much stricter at tightening their belts, which has affected businesses as whole.
Gambling at brick & mortar casinos and bookmakers are non-existent, which has severely hurt those businesses’ bottom line. Their revenues have more than halved since the lockdown.
However, it’s not been all negative, as most punters have moved all of their gambling activities online. With more time been spent at home, punters have chosen to pass their time by gambling online. Casinos and bookmakers have seen a significant rise in activity in the their online businesses since the lockdown began.
It is still too early to say right now whether the increase in online business would be able to sustain the heavy losses made from their brick & mortar locations. One would guess that overall, gambling companies would still suffering significant losses given that a lot of punters are older and gamble exclusively on site and may choose not to migrate their gambling activities online.
You can read more about this in the two articles below: