How Corona Virus is Affecting the Gambling Industry
Fear of coronavirus has led to the cancellation of flights, sports events, conferences and festivals. Some cities are on lockdown, and movement is restricted.
This has affected major industries and the market. So, what does this mean for the gambling industry, the casinos and players? The estimated cost of the crisis could be $3.3billion for the Macau operators and much more for the whole industry. Here is how the virus is affecting the industry.
Dropping Market Prices for Gambling Companies
The virus has caused a fall in prices in most industries, and the gambling industry has not been left behind. Most gambling companies which are publicly traded are taking a battering; even the online casinos which are expected to make an upside turn when most parts are quarantined.
If the virus persists for some more months, the economy will be affected, making it hard for the players and the casinos. Although online casinos might benefit, the hard way of life on the players will make an impact on them.
Players are Turning to Online Gambling
With the continued quarantine and lockdown in various places, players are opting for online gambling. This is also a protective measure to prevent spreading the virus.
Some land casinos have also closed down. Casinos and sportsbooks are some of the congregational areas that the virus can be transmitted and playing at the safety and convenience of their homes, is the best way to keep the players happy and safe. Don't use plagiarised sources.Get your custom essay just from $11/page
With the number of casino visits falling every year, online casinos will grow more popular. However, the rules regulating gambling online casino in Germany have tightened, except in Schleswig-Holstein state. You should, therefore, make sure it is legal for you to gamble in an online casino, if you live in other states, before you register. Resource: Casinomatcher.com/de
Betting on Coronavirus
The crisis has opened up several betting opportunities. The old saying that goes ‘never let a good crisis go to waste’ could mean a disaster like this one. Odds are fluctuating wildly, but you can make a bet on major betting sites.
The financial markets have great opportunities. Stocks markets have gone down, and currencies are at a flux. If you don’t fear taking risks, you can make money as you prospect which direction they will take.
You can also bet on whether major events like the Tokyo Olympics and the Premier League will go ahead or get cancelled. Both outcomes have odds; it’s up to you to decide.
Safety Tips for Gambling During the Corona Virus Outbreak
Things don’t look so good on the economy, sports or the gambling industry. The next few months are going to be hard, but it’s good to stay safe. If you are going to gamble during this period of coronavirus outbreak, here are a few tips.
- If you happen to visit a land-based casino, use your card instead of money to place a bet. Money is filthy and may potentially be harbouring the virus since many people have handled the banknotes. Consider wearing a face mask also.
- If you handle money, then ensure you wear disposable gloves or carry hand sanitizer and use it regularly. This is also applicable if you come into contact with chips, dice and playing cards. There will be many potentially infected people who will have touched them before you. Also, avoid touching your mouth and face.
- Gambling online is the best option. Even though many sports games will be cancelled all over the world, there will be others. You can also play casino games in the online casinos.
Conclusion
If the countries are unable to control the spread of the virus, it can cause adverse effects on the global economy, even the gaming industry. Gaming Events and conferences have been cancelled, and many others may follow. Research and development of new games, upgrading the existing ones and including the software could also be hit, causing a slow-down and reduced support to the industry.
In addition, there’s also the possibility where the funding meant for the gambling industry will be halted, reduced or allocated to help fight the virus. Thankfully, efforts are being made to find a vaccine for the virus and brighter days are expected soon in the future.