The Great Covid-19 Impact on the iGaming Industry
March 9, 2021
In the past few months, the iGaming industry has seen a lot of interesting changes and developments.
The primary influence for all of these has been the impact of the COVID-19 pandemic that took over in March 2020.
Despite the damaging effect felt by many, the pandemic has also had some positive effects, especially on the iGaming industry.
The Silver Lining for the iGaming Industry
Despite the crippling effect of COVID-19, the world is slowly noticing some positive changes in big league industries.
It has also brought some welcoming changes especially for the digital industries such as iGaming
Where various businesses have felt the limits imposed, the online gaming industry has in a sense been given its wings.
More Countries Opening to the Industry
In this time many of the regions that were originally against online gambling have started seeing the light. With all the restrictions having a major impact on the local economies and residents seeking practical ways to remain entertained, the idea of legalising online gambling does not seem so terrible.
Many countries, some that have ignored the looming presence of the iGaming industry and even some that have been blissfully unaware of changing times, have started working towards the legalisation of iGaming and creating a thriving market that could help secure/ protect the future or residents.
Speedily Adding New Regulations
Gaming authorities and regulatory bodies have been known to drag out regulatory changes. Due to COVID-19, the industry has had a little bit of a boost with new regulations being fast-tracked instead of pushed back.
The aim is to get iGaming markets up and running as quickly as possible especially considering the hit taken by land-based casinos.
Online Casinos Thriving
Where various businesses may close their doors temporarily and eventually permanently the online gaming industry could continue running.
Players across the globe flocked towards these virtual gaming spaces to take part in the action. Thanks to the social distancing and other restrictions in place the online casinos became one of the few sources of entertainment. Now the industry has gained even more popularity and online casinos are thriving.
Safer Gambling Protocols
The quickest way to notice the shortcomings of something specific is by not having many other things to focus on. Online casino gaming is one of the few things that many could still share thoughts and opinions about while covering current events.
The impact of COVID-19 and the increase of online casino gamblers quickly made it clear that safety is not yet as important or as big of an issue as it should be. Many gaming authorities and governments officials quickly made an effort to rectify the situation and increase safety.
Some of the safety measures implemented throughout lockdown include betting limits, restricted verification measures and added responsible gambling tools. Authorities are allowing fewer bonuses and promotions, thus encouraging responsible gameplay and player safety.
Many of these were met with frustration but was put in place to keep players safe.
Diversification in the Offering.
One of the iGaming fields that felt the impact of COVID-19 was the sports betting industry. 2020 was the start of big things for sports betting, especially with various regions bringing in new regulations.
Instead, the industry was left speechless with very few betting options as most sports events were put on pause. While not exactly a positive thing, it has led to sportsbooks being forced to offer a more diverse range of gaming options. Sticking primarily to the theme and tone of the site, you can find a range of thrilling virtual sports games to try at your favourite sportsbooks today.
eSports and Fantasy Video Sports Betting Shoved into the Light.
Players are actively seeking alternatives due to reduced sports betting and live betting possibilities. eSports and fantasy video sports quickly became the top choice and a saving grace within the industry. This made operators rethink their offering, adding more of these betting options to keep players entertained and business flourishing. Today there are even some sports bettors that will allow you to bet on different eSports and fantasy video sports instead of live events.
The industry has gone through a lot in the past few months and despite the many negative effects, COVID-19 has contributed positively to the industry too.
For sportsbooks, there has been ample opportunity to grow, expand and add new gaming options. Exploring eSports and virtual games.
Gaming authorities and regulators stepped up in terms of gambling regulations and player safety measures.
The industry has become even more dynamic, safe and player safety-focused than ever before.
The iGaming industry is one of the few that have enjoyed success and spectacular growth despite the Covid-19 period.