If you are a sports enthusiast, this is a bad year to be one. Because of the coronavirus epidemic, almost all sports leagues have been canceled. All the major sports leagues make this measure because of social distancing protocols mandated by the government. We understand if you feel bummed because of this pandemic.
This pandemic is more stressful for sports bettors, whether professional or those who have a hobby of betting just for fun. You may think that online sports bettors are devastated because of the current virus that has affected millions, but I’m afraid that’s not right. There are significant signs that show that online sports betting is booming.
Status of online sports betting amid the quarantine
According to the findings of a Survation poll, there has been less online gambling activity since the start of the COVID-19 outbreak because of the cancellation of most of the sports such as football, horse racing, hockey, and other sporting events. Despite this statistic, regular gamblers said they were gambling more.
A quarter of the respondents said that they engage in online betting activities once a week, while 28% of them said that they had increased gambling activity. Eleven percent of the respondents were gambling way more than they used to. The absence of jobs makes people resort to online casino games and slot machines.
Gambling is both entertaining and can get people some money if they win. Because of the quarantine, most jobs are out of operation, that is why more and more people get into other ways of making money like online sports betting. Even among casual gamblers, more than half of respondents said they had developed a habit.
Another finding from the survey says that 41% of people who participated in online gambling activities opened a new account since the pandemic started. You may ask yourself. “how are online gamblers being still able to bet during the quarantine?” the answer to this question is esports.
Online gambling changes
The pandemic that has affected millions of lives also has a tremendous effect on the industry of online gambling. This year was the first time that online sports betting regulations were creative, making this year a lucrative one for betting. The unexpected thing is that the pandemic has not yet indicated long-term problems in the industry.
Yes, several states have losses due to social distancing measures. Casinos were never open, which means that online casinos and gambling have been the alternative. In the state of New Jersey, closing orders were issued for brick-and-mortar casinos on March 16, which resulted in a 61.7% loss compared to March 2019.
On the other hand, Pennsylvania reported similar figures, with tax revenues from brick-and-mortar gambling declining to $50.5 million in March 2020 from $67.5 million in March 2019. In 2019, the state earned $24.3 million from online gambling and online casinos. Online gambling sites need to have permission to operate.
Perhaps, the most significant change in the US gambling industry is that the bettors are younger. This means that there is more approach to regulations that are more fractured to integrating digital disbursement applications.
Disbursement barriers and goals
One of the obstacles of online gambling is the struggle of copying instant access and consumer satisfaction. For instance, it would take days before a winner receives their winnings from gambling. If you ever bet during this time, you might be frustrated because you need to wait before you have your earnings, unlike when you go to actual casinos.
What will be the status of online sports betting after COVID-19?
It was said that there was no such significant loss when it comes to sports betting Kenya despite the pandemic. There are other ways of getting your fix of online gambling as there are gaming operations that can suffice your needs. All you have to do now is sit back, make sure you are safe and hope that the curve of the flattens over time.
You can expect a massive increase in the industry once every sports league is back in action. Once you can watch and bet on your favorite sports team, you can always go to Chezacash.
Chezacash offers various services for betting in Kenya, including international eSports battles and virtual sports betting with their respective leagues. Register now at www.Chezacash.com and try wagering on either eSports or virtual games.