Why is Online Betting the Next Big Thing?

When the COVID-19 pandemic hit the United States, the country's economy was shut down. Most businesses were forced to close to prevent the spread of the virus. This included every casino throughout the country at one point in the past eight months. 

 

The economy is beginning to reopen, including casinos, but a large part of society is still being cautious about venturing into places with many other people. Casinos have been operating at limited capacity, but this hasn't given anyone confidence that they will be safe.

 

In June, two days after Nevada opened their casino doors, the state reported their largest single-day increase in COVID-19 cases since the pandemic began. Despite this, the online betting world has been able to fill the void that was left since casinos were originally closed. 

Online Gambling in the United States

 

The ability to gamble online has been a lifesaver for many people who relied on the casino for a source of enjoyment prior to the pandemic. It's no surprise that online gambling in the United States, numbers have skyrocketed since the start of the pandemic. 

 

The combination of governments controlling casino capacity and the return of professional sports has made online betting a very lucrative business in the United States. Market Watch reported that in New Jersey and Pennsylvania, online poker had hit record high numbers since the beginning of the pandemic.

 

In April of 2019, New Jersey's online poker revenue was $36.6 million. This April, in the heat of the first wave of COVID, their online poker revenue increased 118% to $79.9 million. Figures are similar in Pennsylvania, and even with the reopening of casinos, online gambling numbers are still hitting record highs. 

 

The Philadelphia Inquirer reported that last July, $4 million was generated in online casino revenue. This wasn't significant in overall gambling revenue, but this July, that statistic changed. 

Even with casinos operating at limited capacity, online gambling contributes close to a quarter of the state's online gambling income. The combination of online slots, poker, table games, and sports betting resulted in $61.2 million this July, which is $57.2 million higher than one year ago.

The Effects of COVID

 

The COVID Pandemic has made online betting the next big thing, and with a future of uncertainty, expect these numbers to keep growing. Medical professionals have different opinions on how to handle the pandemic. The same goes for our government officials, depending on their political party. 

 

COVID Task Force member, Dr. Anthony Fauci, has stated that the country may not be back to pre COVID measures until the end of 2021. This is over another year that the country and casinos will be in limbo. 

 

Limited capacity, masks, and social distancing guidelines will most likely be in place until this time. These regulations deter people from stepping out of their door to test their luck at the casino.

 

Online gambling may not provide the glamour of the casino, but the safety and convenience of these platforms at this time are unmatched. A bettor can play blackjack in between placing sports bets without having to put their health in danger. 

 

Casinos have made a great effort to limit the spread of the virus through their safety guidelines, but online betting has become a popular alternative that people are enjoying.

Final Thoughts

 

The pandemic has made online gambling the future of betting. The accessibility and easiness of making wagers online have been recognized since the economy was shut down. 

 

It will be interesting to see how much online gambling grows between now and the end of 2021. Online betting is very similar to playing at the casino as long as you stay smart when you're placing bets.

 

For these reasons, I think it's safe to say that online betting is the next big thing in the gambling world. 

Photo credit: John McCreary/Icon Sportswire