The Corona Virus pandemic has hugely affected various industries, and online gambling is no exception. The unavailability of land-based casinos has seen many gamblers turn to online betting. Nevertheless, while overall online betting and most of its sectors are doing great, others like sports betting are not making as much revenue compared to preceding years. Listed below are the various ways in which the Covid-19 pandemic has changed things for online casinos in Malaysia.
Increased Number of Signups
According to a survey commissioned by Clean Up Gambling, 41% of the people who indulged in betting among the more than 1000 people who participated, had recently opened an account. Every online casino Malaysia is currently registering new members on the daily. Of this group, a huge number is made up of regular gamblers who are turning to online gambling due to restricted movement and social distancing. Boredom has also inspired a significant percentage of the batch.
More Intense Gambling
The overall gambling levels might have decreased, but COVID 19 has inspired migration to online casinos like dewabet leading to more intense online gambling. According to IGaming, this year’s global gross wins for online gambling will rise to 14.7% from 13.4% in 2019. It could even go up to 15% if the Corona pandemic crosses on to the 2nd quarter of 2020.
Furthermore, the Clean Up Gambling survey established regular gamblers were still betting as much or even more. One-fourth of participants who bet weekly reported they were doing so just as often. 28% said they had slightly increased their gambling activities, and 11% reported they were betting a lot more since the onset of the pandemic. In Italy, online gambling revenue in March was 94 million euros compared to 76.2 million euros in March 2019.
Decline In Live Sports Betting
TheCovid-19 pandemic forced the cancellation of sports most people bet on, such as horse racing and football. The lack of sporting fixtures has led to the decline of global gross revenue in live sports betting. The activity, for example, generated 106.4 million euros in March 2019 and 70.7 million euros in March 2020, according to a report by Statista Research Department. This was in Italy, which is one of the countries that was heavily affected by the pandemic.
Online casinos have responded to this decline by availing virtual sports betting on their websites and apps. In virtual sports, you get to place bets on fictional teams. You can bet on how many goals will be scored, the match outcome, the correct score number, or the number of goals each team will score.
Casual gamblers were also reported to be betting just as much or even more during the pandemic. Overall, gambling might have reduced, but revenues from online casinos are definitely increasing. Turns out online gambling will be among the biggest winners of the Covid-19 pandemic.