The pandemic and subsequent lockdowns have affected us in different ways, leading to some drastic changes in our bahaviour. There has been an unprecedented boom in various e-commerce outlets, and one of these is the online gambling industry. Since the first cases of Covid-19 started to rise dramatically, Indians were forced in to long lockdowns. Staying at home created many opportunities for some people but also caused a lot of unemployment in the process. Therefore, being stuck at home and bored, there was an increase in online gambling activity.
Online Gambling Before Covid -19
Before the outbreak of Covid-19, online businesses were thriving but weren’t the norm. The global online gambling and casino industry was reported to be worth USD 45.8billion. Market research even then had predicted that the online casino industry would grow up to at least $94.4 billion by 2024.
However, people were more inclined to visit land-based casinos to try their luck than online casinos. In a survey conducted by the EU in 2018, 8% of the participants said they gambled for socializing purposes. During the holidays, it’s very common for Indians to visit gambling hot spots, such as Goa and Sikkim. But with businesses forced to shut their doors, online businesses became more attractive to gamblers, especially their live casino games.
Once the covid-19 pandemic hit, land-based casinos around the world closed down. Macau’s casino revenue fell by 80% in the wake of the pandemic. But this wasn’t much before the online gambling industry took hold of the situation. In 2020, the revenue generated by online casinos began to grow by almost 13.2%. In India, the state of online casinos and online gambling is promising. According to research, 40% of all internet users gamble, and the rising numbers may surpass the tally UK has.
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Why is Online Gambling so Popular in India?
The question is pretty easy to answer in the current context of the lockdown. But overall, in India’s case, it must be said that gambling is not legal in many states. Where it is allowed, casinos don’t offer particular games, so the experience isn’t as classic and complete. Online gambling does not have these issues, which is why more people are opting to gamble online. Here are some of the reasons for gambling sites’ popularity:
It’s a Lucrative Option
Online gambling is a money-making opportunity, and you can do it form the comfort of your home. For skilled players, this is an excellent bet, and for novices, it’s a new opportunity.
During the Covid-19 lockdowns, people are confined to their homes, leading to an increased rate of depression and anxiety worldwide. Online gambling offers an outlet to divert attention and to do something more entertaining with your time. After all, there is a limit to how much TV you can watch in a day.
It’s An Exciting Past-time
Gambling offers excitement because there is chance to win big. Because of the winning anticipation, certain hormones are released in your blood stream which express happiness and excitement, ths helps against feeling down during lockdowns and during quarantine. If you are also interested in sportsbetting do check out our top picks for the English Premier league 2021.
More Transparent Platforms
Due to the opportunity in the field, gambling platforms have become more transparent to establish credibility and trust with their customers.
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