Sharp Increase in Online Betting After Coronavirus
Regular Online Betting in India is increasing sharply during the coronavirus lockdown, according to a recent survey. The findings, with more than 1,000 participants, reveal that regular gamblers are betting much more due to the rise of online casinos, making it very easy for casual gamblers to increase their level of gambling.
Online betting companies are seeing many new players opening accounts, giving in to the lure of making money at a time of huge financial uncertainty created by the pandemic. According to multiple sources, there has been a tis of over 225% in the number first-time online casino players within the last couple of months.
An Escape From Boredom and Anxiety…
As confined gamblers begin to seek an escape from the never-ending boredom of an indefinite lockdown and the natural fear & anxiety caused by a global pandemic, a new wave of gambling is sweeping the world. The widespread advertising carried out by online betting sites, as well as the lucrative promotions they offer, are getting more and more new players into the fold of online betting.
As humanity retreats from the real world, we begin to spend more time on the Internet, especially on social media. This is leading to fence-sitters getting exposed to online betting advertisements and finally giving in to the temptation via just a few clicks.
…Into The lure of Real Money Betting
Jobs are shrinking, people are staying isolated from their friends and colleagues and searching for some excitement in their lives. With changing emotional and economic landscapes, money is probably the most important thing on people’s minds other than their health, and is indeed a big motivator for most of us to try our hand at online gambling and betting for the first time. Now that Betting Online has been made real easy with simple registrations and secure payment options, people are joining the online gambling bandwagon from the comfort of their own homes and the privacy of their personal mobile phone screens away from the prying eyes of wives and kids.
Online Betting to become legal?
There has been talk recently that COVID-19 might spur some countries to legalize online casino, as coronavirus responses differ wildly across countries. Some countries, such as the USA are focusing on opening up and boosting their economies post lockdown. Online gambling being a rapidly growing industry and also experiencing a rise in investor enthusiasm, are on the verge of becoming legal.
Morgan Stanley gaming analyst Thomas Allen wrote, “Covid-19 will likely have a negative impact on state budgetary positions, forcing them to look for new sources of taxes. In addition, legalization and the rollout of online forms of gambling can be much quicker than building bricks-and-mortar casinos (Massachusetts a good example). Finally, online can be at least a slight offset to lost revenues during phases of social distancing as we are experiencing today.”