It seems like the world has changed in many ways since the COVID-13 struck China at the beginning of this year. The latest pandemic quickly spread across the globe, causing significant problems to countries like Italy, Spain, or the United States due to limited resources. Many countries applied restrictions for social interaction, limiting public movement.
This means that many of the shopping centers, casinos, and local stores were closed.
The world is already experiencing another economic crisis, and since the virus is not expected to disappear in the near future, businesses need to adapt their processes in order to survive this period.
Even though experts predicted an increase in the online business sector before the pandemic, no one could have predicted this level of growth.
When it comes to casinos, many of the royal gambling cities such as Las Vegas or Macau needed to close their doors due to government regulations to stop the virus from spreading. This means that the gambling sector needed some adjusting in order to still be profitable during this period.
Online gambling was and still is the answer to the problem. As expected, many companies experienced a huge spike in their online gambling sectors, with an increase of over 200% compared to pre-COVID-19 figures.
Many people who used to go to casinos to play roulette, cards or slot machines are now migrating to online casino betting like BetAmerica.com. Not many of the casinos had already integrated an online gambling system. Only a handful of states in the United States offer online gambling, such as Nevada, New Jersey, Delaware, and Pennsylvania. It is very hard almost impossible to build an online gambling system and adapt to the market change very fast unless you buy a pre-made one.
Additionally, since all sports events are suspended due to coronavirus, traditional online betting on sports needed some adjustments. Sports events like NBA and NFL matches, soccer leagues, F1 racing, even college leagues are postponed for an unknown period of time, which means that people who like to gamble are only left with online casino games like poker, roulette or slot machines.
Many of the online casino owners said that they’d seen a massive increase in online business, and they hope that this will make up for some of the lost revenue from real-world casinos.
Experts predict that the virus will have a long-lasting impact on businesses that will need even a few years to recover. Casino businesses need to adapt to this change and anticipate the online movement just because this can also change the gambling habits in the future.
Just because of the recent situation, businesses are operating in muddy waters, and it is tough to predict the final outcome. However, the online gambling increase can result in lowering the revenue of the real-world casinos even when the situation clears up just because more people would stick to online gambling.
This is a huge wake-up call for casinos that still don’t have an online gambling option.
Some casinos are making more drastic changes in order to adapt to the recent situation. For example, Hard Rock Atlantic city introduced remote-controlled slot machines that are placed into a room where players can activate and play from home. This is similar to online gambling, and the only difference is that it offers people some kind of connection to the real-world casino.
The online gambling industry is growing rapidly. Atlantic City casinos won nearly $500 million online in 2019, which is a 62% increase over the year before. This year we expect the online gambling industry to come out with 3-figure increase numbers. This is a significant result, and it is the only way to cover some of the expenses that these kinds of businesses are facing. Since no one can predict when this crisis will end, casino owners need to see the bigger picture and adopt their processes in order to survive this period.