Deliberated and smart actions would save your financial stability from panic and destruction

2020 has been a year of dishevelment due to the coronavirus pandemic. It has affected all aspects of life in general.  In this article, we are going to talk about gambling and the changes that were made in people’s approach to it. Undoubtedly, we’ll find some unexpected issues in this field that have to be solved immediately. Bethub provides and competent analysis and objective assessment of probabilities. Also provides daily betting tips.

As everyone knows, the best way to find a problem is to ask a straight question. In short, the opinion poll is the best and accurate method of investigation. Thereby we concocted different questions in connection with gambling and the coronavirus, of course, which has changed the usual way of thinking.

Beforehand there was research about the financial component in general. For example, HSE Research Institute published their view of the people’s income changes during the pandemic. Remarkably, their expectations didn’t match reality.

First of all, according to our research, 16% have lost their job altogether. This is much more than HSE thought before the pandemic began. 

Thankfully, everything is not as bad as it seems to be. According to our research, 26% polled said that their income hadn’t changed at all, and the same quantity proved that their wages had dropped very fast and noticeable. Moreover, some people noted that their wages have grown slightly (8%) or very fast and distinctly (4%). Probably, they are grateful for such changes.

The remaining 20% said that their income reduced slightly, and it didn’t disturb them a lot.

The next question stems from the previous one, and that’s because we wanted to know if our users have noticed any transformations in their betting expenses because of the coronavirus. 

The results will surprise you most likely. Considering that the pandemic had affected the financial aspect, despite this, 27% of interviewed replied that they started to spend more money on betting. For sure, this is contradicted with the results of the previous question. As you remember, only 4% felt more money in their pockets, but we have an explanation of such a big difference.

Besides, we want to say that 23% didn’t change their habits in betting at all and continued spending the same amount of money. 

29% started to spend less because of uncertainty regarding the financial situation in the world and their lives, and only 21% decided to refuse any risk and stopped taking part in gambling anywise. This decrease in the number of gamblers draws a parallel between the overall reduction in income, described previously.

But let’s go back for a while and consider that contradiction that could be explained by the very definition of gambling. What do we usually do when we start losing all our money and getting nervous? Yes, that’s right. We decide to go all-in. We take unnecessary risks in the hope of trying to scrape back some wins. The driving element supports us in that hazardous decisions. We can observe now almost the same picture. The pandemic had swept half of our income, and we are hoping to return the bank in one fell swoop. 

Additionally, it was very interesting to know if users had changed their approach to the way they place bets.

As usual, traditional sports were the top pick – 56% of polled replied that they would continue betting in that way, of course, if leagues weren’t canceled because of the coronavirus. 

On the other hand, for the last couple of years eSports has become the punters’ first choice, and not only in the time of the pandemic – in general, people started to place wagers through eSports more and more, and our research has proven that. 30% of respondents began betting on this platform. 

There is another tendency in our community that is sadly influenced by financial instability. From the beginning of the pandemic casino and poker gained popularity (11% and 3% respectively), and definitely that’s not a joyful fact. Because that’s an unjustifiably risky activity, therefore psychological addictions and huge losses stem from this scenario. 

Perhaps, another question wasn’t clear enough, or maybe users read only the first part of it. This question was about an important topic, specifically borrowed money for betting. Basically, we wanted to know if people started to apply to credit unions for gambling during the pandemic even if before they were against this idea.

The votes were divided into an unexpected ratio, we received 28% ‘yes’ and only 72% ‘no’. Thus we decided to rephrase the question and to ask if people applied to credit unions before the pandemic at all. 20% of users had done this, and the majority hadn’t.

Anyhow, 23% added that they started to use loan funds for betting when they felt instability due to the pandemic, and the remaining 77% didn’t.

In conclusion, we want to say a few important details.

First of all, it is obvious that because of the strange circumstances and uncertainty about the future, every fifth user started to make risky and surprising actions that usually were not beneficial to them.

Meanwhile, some more markers could be inherent in 2020 with all its instability and foggy future, like these:

  • ‘unwarranted’ spending of money on gambling
  • casino, poker, credits, and other risky events
  • decrease of the preliminary analysis of rates
  • hoping to solve some personal financial issues within the betting

We are not trying to discourage people, but we want to warn our users that rash actions or hasty decisions, especially at this time, could have dire results. Of course, everyone would make his conclusion from our research, but undoubtedly there is only one right decision during the pandemic with all the ensuing consequences. Act rationally, be brave, and take care. 

About MyitSolutions

Myitsolutions a valued contributor on Vents Magazine a Google news approved site. I love to provide the latest news to my viewers and sharing knowledge about interesting facts on different topics.

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