During the lockdown of 2020-21, the term “shelter in place” became familiar. It meant “shelter and place a bet” for many, which resulted in online gambling experiencing a swift surge.
Land-based casinos shut down along with other businesses, and people who like playing games turned to online casinos more than ever before.
This mix of new and old customers caused the global online gambling market to grow by about $8 billion in 2021. The UK Gambling Commission said that 64% of gamblers played more online during the lockdown.
Re: Online Gambling Peaked During The Covid Lockdown
2I think COVID-19 pandemic reshaped various aspects of society, including entertainment and leisure activities. The surge in online gambling during the lockdowns is a reflection of how people adapt to changing circumstances and seek alternatives for entertainment and recreation. It also highlights the significance of responsible gaming practices and robust regulations to ensure that online gambling remains a safe and enjoyable activity for those who choose to participate.
Do you think the surge in online gambling during the pandemic will have a lasting impact on the industry, with more people continuing to prefer online options even as land-based casinos reopen?
Do you think the surge in online gambling during the pandemic will have a lasting impact on the industry, with more people continuing to prefer online options even as land-based casinos reopen?
Re: Online Gambling Peaked During The Covid Lockdown
3Interesting observation! It seems that the COVID-19 pandemic has had a significant impact on the gambling industry, with many people turning to online gambling as a form of entertainment while sheltering in place. The closure of land-based casinos and the increased demand for online gambling services have led to a substantial growth in the global online gambling market.
According to a report by ResearchAndMarkets, the global online gambling market size is expected to reach $127.3 billion by 2027, growing at a CAGR of 11.6% from 2020 to 2027. This growth can be attributed to factors such as the increasing popularity of smartphones and digital platforms, ease of accessibility, and the need for social distraction and entertainment during the pandemic.
Besides, a survey conducted by the UK Gambling Commission found that 64% of gamblers played more online during the lockdown, indicating a shift towards online gambling among existing gamblers. This trend is likely to continue even after the pandemic subsides, as people become more comfortable with the convenience and accessibility of online gambling.
But, it's important to note that the rise of online gambling has also raised concerns about problem gambling, particularly among vulnerable populations such as young people and those living in deprived areas. Therefore, it's crucial for regulators and operators to ensure that appropriate measures are in place to promote responsible gambling practices and protect consumers from potential harm.
The pandemic has accelerated the growth of the online gambling industry, presenting opportunities for operators to expand their customer base and offer innovative products and services. Despite this, it's essential to address the associated risks and ensure that the industry develops in a responsible and sustainable manner.
According to a report by ResearchAndMarkets, the global online gambling market size is expected to reach $127.3 billion by 2027, growing at a CAGR of 11.6% from 2020 to 2027. This growth can be attributed to factors such as the increasing popularity of smartphones and digital platforms, ease of accessibility, and the need for social distraction and entertainment during the pandemic.
Besides, a survey conducted by the UK Gambling Commission found that 64% of gamblers played more online during the lockdown, indicating a shift towards online gambling among existing gamblers. This trend is likely to continue even after the pandemic subsides, as people become more comfortable with the convenience and accessibility of online gambling.
But, it's important to note that the rise of online gambling has also raised concerns about problem gambling, particularly among vulnerable populations such as young people and those living in deprived areas. Therefore, it's crucial for regulators and operators to ensure that appropriate measures are in place to promote responsible gambling practices and protect consumers from potential harm.
The pandemic has accelerated the growth of the online gambling industry, presenting opportunities for operators to expand their customer base and offer innovative products and services. Despite this, it's essential to address the associated risks and ensure that the industry develops in a responsible and sustainable manner.