How will the corona virus escalation, persistence and disruptions impact online gambling?
We break down 6 scenarios around how the corona virus can affect customer behaviour and the overall industry.
1. a Shift to Online
This will inevitably push more gamblers into the online ‘germ free’ space, and serve as a wake-up call for ground operators who haven’t developed their business online yet.
2. Accelerated Regulation
Countries with no established regulatory framework for online gambling (particularly in Asia, Africa and LATAM) might suffer losses in business and taxes.
Expect governments who have consistently refused to consider legalizing online gambling in their home territories being pressured to act; through stricter enforcement or regulation.
3. More Cash In Hand
The travel industry has already taken a huge hit from screening, restrictions and cancellations, with concern growing daily amid reports of new outbreaks.
This will reduce willingness to travel as people think twice before booking trips, leaving them with more money in pocket to spend on other leisure activities and entertainment.
4. Less Outdoor Time
As people get more cautious and avoid public places to reduce the risk of infection, they will spend more time indoors and hence online, to keep occupied.
5. Event Disruptions
Various Sport events are already being suspended including some Italian Serie A matches, while other Poker & eSports tournaments are restructuring online.
6. The Wider Economics
With tourism responsible for 319 million jobs worldwide, a prolonged slowdown in global economic growth could trigger widespread unemployment or a recession.
On the other hand not all businesses will suffer. Online Gaming company stocks which have been suffering in the recent months due to increased scrutiny and regulation, could rebound as a result.
Simon Bonello is Co-founder of Gain Changer. His main area of focus is Business Process Automation, Software Technical Architecture and Technical SEO