The international gambling industry has been impacted severely by the pandemic outbreak in 2030, with fewer gamblers venturing into land casinos. Players have been choosing safer options at online casinos and sports betting sites. The situation in Canada is hardly any different from other regions, which are experiencing a dip in demand. Official data indicates that before the pandemic, around 60% of Canadians gambled regularly, spending CA$100 a month each. The gambling industry in Canada generates over CA$31 billion in revenue and 15% tax. Land-based operators have to meet new requirements and higher standards to stay open or have to close altogether. The new rules at land-based casinos mean more gamblers have been turning to online casinos during the lockdown. Sports betting sites and online bookmakers diversified them in betting products to include eSports, virtual sports betting and online casino games.
The 2020 pandemic is having a ripple effect on the gambling industry. What does the future hold for gambling? The pandemic has profoundly affected bookmakers. Although online casinos are thriving, there is no telling how long it will last. Land casinos worldwide have experienced a marked drop in overall revenue due to travel bans and social distancing rules. Resort casinos in Vegas are experiencing declining visitors, and that won’t change much until Coronavirus stops spreading. Several mitigating measures have to be in place before allowing guests to enter venues. There are new cleaning schedules and no more food buffets. Subsequently, more players are embracing the notion of staying at home and playing online. That may be bad news for casinos; however, it’s good news for online casinos and online betting sites.
Staying inside and keeping away from others has become the norm to stem the spread of the virus. Online gambling and casinos provide a considerably safer environment than a crowded casino or football stadium. Countries throughout Europe are implementing lockdown procedures; subsequently, players can no longer go to their favourite land-based casinos. There are hundreds of reputable online casinos, and the landscape has been changing these last few years dramatically. Players go online to play slot machines, while RNG table and card games are popular. They can take part in online tournaments and leaderboard challenges for top prizes.
The Future of Sports Betting
A significant challenge within the sports betting industry is the cancellation of games and events. Without live sports to bet on, fans are seeking alternative betting opportunities. eSports is one online option; therefore, it doesn’t require the competitors to come into contact with one other. Such games are significant money events, and the best payers are stars in their own right eSports tournaments like FIFA 2020 and NBA 2K attract huge audiences. Punters bet on the games’ outcome, and eSports is proving to be a massive hit during the lockdown.
Virtual Sports Betting
Virtual sports are essentially video games with specific software that plays out contests, races, games, and sporting events. The computer software uses highly advanced algorithms to determine an outcome. The algorithm accounts for the participants’ skill alongside luck, which you get in real sports events. The graphics of virtual sports are along the lines of a professional gamer playing Fifa on a games console. Not as polished or sophisticated as a television broadcast, yet the velocity of bets available increases because sportsbooks can offer more action without the need for actual real-world sporting events. Many virtual sports opportunities are available for betting.
The majority of real-world sporting events can transform into virtual sports, with some more popular than others. These are common virtual sports presently available for betting. They include Football, Horse Racing, Greyhound Racing, Motor Sports, Basketball and Tennis.
Esports are competitive electronic sports, mainly video gaming on a large scale. Just like real sports betting, people have also started betting on players online. It is entirely safe and fully reliable to perform online without any hassle. Players and teams worldwide wait for the year-end to participate in the annual Esports tournaments conducted each year. Since the matches are large, a large virtual crowd gathers to witness and place bets on the games. The chances of winning are more in these tournaments. You will always see many people betting on and playing Esports. Once a player or a team wins games, they get colossal prize money and other outstanding rewards. The tournaments include Esports like Riot Games League of Legends, Valve Corporation’s The International, and DOTA 2. Though other smaller games occur around the year, these are large tournaments with big rewards to take home. Depending on the tournament type and games, there are several styles of betting. The most popular kind of bet is to bet on a more likely team to win the match or the tournament.
There has been a hefty increase in online betting on more random world events. They include awards shows, general elections and even if China will beat America in the race to find a vaccine for a COVID-19. Online casinos seem to be weathering the pandemic. The question is, will it last? The industry, in general, is experiencing a drop in revenue due to unemployment and lack of funds. The increase in people losing their jobs in the travel and tourism industries will likely have a knock-on effect, and government aid reliance is frightening. If people aren’t making money, they are unlikely to be spending in other sectors. How long that will drag on is anyone’s guess.