Online Gambling Is Thriving During the Lockdown

Online Gambling Is Thriving During the Lockdown

The COVID-19 pandemic has shut down all sporting activity and hit the sports betting industry hard. However, online gambling has not just survived the crisis but is also coming out on top of the situation.

Business moves to online casinos

Many gaming businesses have moved to online casinos to use their existing resources to the fullest and mitigate the potential negative effects of the coronavirus pandemic. New statistics from Easy Payment Gateway suggest that its clients experienced a 10% increase in transaction processing volume compared to the previous month. It said that the surge was especially evident within the gambling sector.

Online Gambling Is Thriving During the Lockdown

The Spanish payment services and fraud management aggregator firm has been observing how many of its customers have urged them to expand. They are mostly from the gambling sector and demand their services in the Asian, African, and Latin American companies.

CEO Manuel Prieto said that offering their products and services in various regions demands a wide variety of payment options. He said,

“In this extraordinary situation you have to look for solutions that bring in business and help to promote growth, always considering the varying characteristics of each sector.”

Prieto noted that the company has a user-friendly payment technology that helps in finalizing transactions and promotes internationalization as well.

Similar figures everywhere

Last week, the British Gambling Commission also published its half-yearly gambling industry statistics for the period between October 2019 and September 2019. It suggested that remote casinos generated for £3.2 billion in gross gambling yield, marking a 3.9% increase. On the other hand, land-based casinos reported a 0.6% drop in their gambling yield which went down to £1.1 billion. The online betting sector also grew by 4.3% to £2.1 billion. On the other hand, remote bingo increased by 12.5% to £198 million.

In last month’s ‘Online Gambling Global Market Report 2020-30: COVID-19 Growth and Change’ report, it was revealed that the global online gambling market is expected to grow from $58.9 billion in 2019 to $66.7 billion in 2020. This would mark a 13.2% rise. The report also cited the coronavirus as one of the reasons why this increase would occur.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.