The demand for online casinos has been on a steady rise for the major part of 2020. Movement restrictions due to COVID-19 played a crucial role in the sudden boost. However, more free time isn’t the sole reason behind the jump. And people have been eyeing online casinos for a while now, as you’ll soon realize by the end of this post.
The gambling industry has come a long way since the last decade, and the internet has played a crucial role in its evolution. Studies show a new casino site pops up every few minutes, and the trend has only gotten stronger during the lockdown. Keeping that in mind, let’s analyze the prime reasons behind the rise of new casinos in 2020.
The Impact of COVID-19 on the Gambling Industry
Nearly all land-based casinos and sportsbook operations around the world shut shop during the busiest months of 2020. Thus, causing irreversible damage to businesses. Like every other industry, the gambling industry too is reeling from the effect of a mass-scale lockdown. With people confined to their homes all day, the need for alternate entertainment shot up within just a few days. Thus, leading to a steady spike in demand for online casinos.
The UK reported the highest rise in search queries, followed closely by the United States, two of the world’s biggest casino markets. It isn’t difficult to see why publishers and developers scurried to cash in on this sudden opportunity. And they did a splendid job too!
Within May, revenue from online gambling began to overshadow revenue from all other niches within the gaming community in certain parts of the world where online casinos are legal. This forced local and federal governments in the surrounding areas to jump in on the action or risk missing out. With state coffers already reeling under massive pressure due to the pandemic, policies soon changed and new guidelines were adopted to tax the booming industry.
The Perks of Signing up on Online Casinos
Online casinos are more accessible than their physical counterparts and with the latest regulations, offer a greater level of safety too. The iGaming industry in America has had a murky past, and federal, and state governments are trying to avoid a rerun of the scandal.
Offering bonuses are an age-old strategy that seems to work, and online casinos are taking full advantage. From gifting free spins to cashback offers and other signup bonuses, operators are leaving no stones unturned to lure prospective players. To top it off, online casinos are far cheaper than their physical counterparts, which is another great reason working to their advantage.
If you’re an amateur gambler looking to sign up on an online casino, review websites are great for finding the top operators near your location. Revpanda.com has an awesome casino comparison tool called Casino Bee to help amateurs find new casinos. You can use the free tool from casinobee.com.