Online Casinos Set to Prosper as the World Hurts
It’s not quite armageddon but in causing global panic (marginally killing more people than snake bites do annually – and less than the common flu) the current situation will inevitably lead to wholesale unemployment and economic recession.
And with temporarily laid-off workers having a significantly increased amount of spare time while being encouraged to stay in their home, many are sure to turn to online casinos to pass their time. It’s well documented boredom plays an important factor in the betting habits of online casino players. Quite simply online casino play offers a welcome distraction from loneliness and monotony.
Similarly the effect of a recession on gambling is contrarily positive. Gambling offers a real opportunity to win a jackpot, often worth millions of dollars, for a small cost. In difficult economic times more people find this tiny but real chance of winning a huge prize magnetic, certainly more so than in less turbulent times.
There’s been a several research papers looking into lottery sales and all have declared there is a clear correlation between state/province unemployment rate and an increase in sales. In layman’s terms, we are prone to gamble more during times of hardship.
The Wheels and Reels Continue to Spin
There’s plenty more to consider but an online casino betting bonanza really is very much around the corner. Across Europe sporting events, such as the English Premier League soccer has been cancelled. Those that would normally use their disposable income on buying tickets and attending games might just turn to an online casino to spend their money in an alternative form of entertainment – online casino play maybe.
Most certainly those that like to place bets on the countless gambling sports which have had their calendars decimated may well be lured to blackjack tables, progressive jackpot slots or roulette wheels.
Of course they will have to be of the online variety as a precedent, which started in gambling mad Macau where every casino was recently forced to close, will spread meaning land-based casinos will temporarily close their doors. Just try to find a brick-and-mortar casino anywhere in North America which does not breach the new ‘500 people maximum public gathering’ rules!
And then there are the crypto casinos. They are likely to be busier than ever given the plight of Bitcoin, another factor in this perfect storm. The currency has plummeted losing almost half its value in weeks. Some will decide there is more fun to be had in playing it in an online casino than watching its value slowly disappear.