The Effect Of COVID-19 On The Casino Industry
09 May 2020 04:04 pm, by YorkshireSquare
As the world struggles to contain the outbreak, with no cure in sight yet, the focus has turned to social distancing. Consequently, about 20% of the world population is on lockdown, meaning people can't leave their homes unless it is very necessary to do so. The casino industry has also been affected.
Effect on Land-Based Casinos
Land-based casinos have been hit the worst. As governments emphasise social distancing, even going to the extent of involving law enforcement officers, many people have been forced to remain in their homes. Brick and mortar casinos, therefore, have had to do with no clients. In some cases, authorities ordered the closure of these establishments and instituted total lockdown. There is no telling when the pandemic will subside, and many lives are still being lost.
The Effect on Online Casinos
Online casinos may just benefit from the on-going lockdown across the globe. Since many people will be confined in their homes for unknown periods of time, they may venture into online casino gaming out of boredom. Also, since not everyone can work from home, people may turn to casino games in a bid to try to make some passive income through gaming at some of the best casinos found online.
Online Casinos Not Out of the Woods
However, online casinos may not reap much from the ongoing stay-at-home situation. Since the pandemic has forced governments to close down business activities, many people are soon running out of money. Also, many organisations have been forced to take a raft of measures, including slashing employee salaries. In other cases, many people are bound to be jobless, hence no money for gambling. Online casinos will still feel the heat.
Word of Caution
If you are thinking of trying to raise some additional funds with online casino gaming, we advise you air on the side of serious caution. At the end of the day, casinos are businesses, out to make money. Though many of the games depend on pure luck, the nature of casinos is that you are more likely to lose than win.
Choose A Reputable Online Casino
You may want to push your luck in online casino gaming. First, choose a reputable online casino. Such a casino has proper licensing and a strong financial base. It is also allowed to operate in your country. You may also look around for reviews to see what other players are saying about the particular casino. Also, set some funds aside for gaming. Don't touch your family savings. Don't risk what you can't afford to lose.
Stay Safe and Be Responsible
It may be bad enough out there, with loss of jobs and income. But it won't make any sense losing your life's savings at risk through online casino gaming. Play for free first before staking your own money. Also, start off with small sums of money and know when to call it quits. Online casinos may fare better because people can play from the safety of their homes. However, if the situation persists and people concentrate on the essentials, they may fare no better than their brick and mortar counterparts.