How Covid-19 has affected the world’s industries and its consequences on the gambling field
While the world is in panic and searches for a way to protect itself from the new coronavirus, or Covid-19, as it’s officially known, some industries are experiencing huge material losses and the virus is affecting the gambling industry as well. But everything isn’t all gloom and doom, especially when it comes to online gambling. But first things first, let’s look at the situation and understand who is affected and also how 1Clickgames could potentially help your business.
What is Covid-19?
The coronavirus has been in the headlines all over the world for the past few months, but not everyone knows what Covid-19 is and what the actual dangers are. So, COVID-19 is a virus strain that was first identified in Wuhan, Hubei Province, China. The virus started in December 2019 and quickly spread to neighboring provinces. The panic around the new virus intensified as the virus is new and poorly studied. Health experts are closely monitoring the situation because the virus is potentially life-threatening to vulnerable groups. The next danger is that the virus can be easily spread between people and also animals. Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties, so it can easily be confused with regular flu.
The virus quickly spread throughout China and nearby countries, then moved to Europe with travelers, so at the time of this publication, the Covid-19 cases are confirmed in 87 countries all around the world with the number of infected over 95 000 people.
From the start, the virus impacted a lot of industries, firstly it affected the economy of China then global retail and tourism. All industries that involve having a large crowd in one place could potentially see a drop in demand. Following guidelines from the World Health Organization, people are trying to avoid public places, canceling plane tickets, rescheduling vacations and spending more time are home, watching streaming services like Netflix, Apple TV, Hulu, and HBO. But whilst some industries are at risk from the impact of Covid-19, other industries have seen demand grow, such as online magazines, delivery services, online studies, streaming services, social networks, pharmacy industry, and online gambling.
The biggest land-based casino suffers losses
The coronavirus outbreak is already hampering some of the world’s largest gaming centers, prompting at least one research firm to slash 2020 estimates for the industry. The Asian market is suffering losses and the world’s largest gambling hub just suffered its worst revenue drop on record. Gambling revenue in Macau fell 88% in February from a year earlier. That isn’t exactly a surprise: The semi-autonomous Chinese city had an unprecedented 15-day shutdown of casinos last month to contain the spread of the coronavirus. To get out of this situation, the Asian government started a discussion about legalizing online gambling and implementing higher taxes and more regulation. One of the issues the Macau operators face in considering the issue of online gaming is that Macau has not become a general tourist destination like Las Vegas, which now generates significant non-gambling revenue.
Covid-19 has also started to affect Las-Vegas, with stocks of the mighty casinos going down and The Dow Jones index falling significantly. The U.S. is working to control the virus spread and happily, the USA situation is far from the China position and there is still a chance to find a way to minimize the losses.
Online gambling experience a boom in the industry
As already mentioned, even Macau has discussed the possibility of entering the online gambling industry. The impact of Covid-19 panic has had a positive effect on the online gambling industry. 1Click Games has also felt the changes over the past month with requests for online casinos growing. This is related to the attempts of land-based casinos to stay afloat, as they struggle with a reduction in visitor numbers, with people staying away for fear of infection. To maintain the interest of players, online casinos could be a real solution to this situation.
1Click Games could be a real business-saver in the fight against the influence of coronavirus on the land-based gambling industry. A brand-new licensed and optimized white-label casino can be made and transferred to the customer in just one day. Integrated games from world-famous game developers, payment systems, design and region of activity are chosen by the client. More information about the offered products can be found here.
One thing to remember is that Covid-19 is not that dangerous. The best way to survive this turbulent period is not to panic, and carry on doing business as usual, whilst finding potential ways to grow your company.
An online casino project is a great solution for anyone who wants to become a part of the online gambling industry. Creating your project with sportsbook, slot games or lotteries is a really good investment of time and money. 1Click Games offer solutions that click, so remember you are only one click away from your online casino. Feel free to requesting a quote and our company’s representative will contact you as soon as possible.