The COVID – 19 pandemics, originating from Wuhan, China, has now taken root worldwide. The death toll continues to rise each day, with the U.S. recently having been declared the epicenter for the virus.

While people stay quarantined and safely under lock and key, the most severe implications of the disease are yet to be revealed. Businesses, and in turn, economies, encounter devastating losses globally. Analysts predict a major, upcoming recession. With layoffs occurring at an alarming speed, the gambling industry is no exception to these consequences.

To encourage social distancing, brick and mortar casinos all over the United States have been forced to shut down and experience enormous losses in revenue. However, surprisingly, the online gambling community thrives during these times and is impacted in much the opposite way. Since most of the population has been enforcing measures of self – quarantine and have a whole lot more spare time and enjoy their favorite casino games from the comfort of their homes, online casinos are reporting significant revenue increases.

Several casinos that have been temporarily shut down have now started to operate online branches in order to earn some amount of revenue still. They offer the customers a massive array of slots, video poker, and table games. Despite the necessary restrictions for the physically built casinos, the online branches will save so many businesses, at the same time providing people with a safe environment for enjoying their favorite pastimes. However, the real question that needs to be asked is – will the revenue be enough to compensate enormous losses caused by the shutdown of the land-based casinos?

According to the most recent reports by the American Gaming Association (AGA), the U.S. economy is predicted to lose $21.3 billion in direct spending by consumers, given that casinos stay out of business for two months. Unfortunately, the two-month shutdown is the best-case scenario, given the current circumstances. Early-April closed a vast majority of commercial casinos in the States. The reports reveal we are talking about 94% – more than half a million of the casino industry workers (96% of the entire U.S. gaming industry workforce) have lost their jobs. 

While in the U.K., the gambling firms have decided to draw the line on the betting cap at astonishing £50 per day. In the absence of mainstream sport in the physical world, gambling companies are moving towards more convenient options – online casino games.

Similarly, the situation escalates when the people with gambling disorder, cooped up at their homes during this pandemic try these alternatives. Experts believe that during coronavirus crisis, these people are prone to betting on events without realizing the possible outcomes.

William Hill confirmed, money being received from the gamblers that bet on FIFA football events, has been donated to the charitable organization.

Keeping in mind that 50,000 people in the U.K. are employed in betting outlets, and a figure of 10,000 are indirectly involved through online mediums.  Coronavirus has drastically impacted the world of gambling.

Hence, for now, it’s crucial to assess economic trends and brainstorm innovative measures for businesses to continue to make a profit, despite these startling setbacks.