How are Online casino's and sports betting platforms coping?

[freedomgo]

As long as there's someone would like to support the crypto gambling casino or the casino itself they can sustain their current living. All businesses must need to adapt to the environment, else they don't get in the ride, and the peoples choose if you are out of the trend possibly the users not get entertained this is the main goal of the casino to give satisfaction, I guess in this current crisis they didn't get affected too much instead make another way with the online gambling.

If the casino has still a strong back up for its funds, then there’s no reason that it will be affected by the current pandemic and would advise to close. After all, those who have stopped from their operations have been weighing the possibilities that if they continue to operate, they will certainly end being bankcrupt. Most likely, online casinos that time have given more opportunities to earn an income since the people find it more convenience to play at them at the comfort of their own homes.

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[Desmong]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Things are really hard now so all these casinos need to cut expenses so that they can cope with the current hype in price and inflation. The rate of bonus will reduce and other things so that they can meet up with the current market dip. The year is just ending and I hope by next year things is going to be better than the way we are seeing it now.

[FanEagle]

The future is shaping a bit more clearly. After the whole super league thing, we all know uefa decided that they want to build a league, and that's understandable, and we are going to move towards that a bit more.

But, turns out it would be just a group stages level of thing for the league, so in the comn years, we will have group stages again, but more like a league, and teams will play a lot of games, but after that we are going to see the first 8 go up, and then from 9th to 24t if I am not wrong going to play playoffs, and another 8 will come from there. Then the last 16, quarter and semi and final games etc as usual.

This should be bringing a lot more money considering how many more games, and I believe anyone who knows this should fill their team with 20-22 year old players, which would mean they would make more money and all other teams too and could sell those players for a lot more.

[Fortify]

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

In bad times casinos do well, in good times casinos do great. There may be less players with money around during the middle of a recession, but if you consider the very low operating costs of an online casino (at least in comparison to physical casinos), then you can understand that they are massive money makers regardless of the current economic conditions. You would have to find some extremely bad management or a chain of very unlucky events to take down these gambling enterprises which at the biggest level are making their owners millions or tens of millions per year after all other costs are paid. The owners of the biggest casinos here are able to afford some big yachts and if they're wise then they have also diversified.

[yayayo]

A casino usually doesn't have a bad time. The only bad times I can imagine are the last few years when Covid19 has hit hard. But we hardly hear anything about that anymore, we no longer see people with face masks, so I think that is as good as a thing of the past. A casino turns extremely high turnovers, so much that they have easily built a buffer in recent times to cope with some lesser times. An online casino actually never has bad periods, unless a player manages to win a lot of money.

ya.ya.yo!

[FanEagle]

Maybe they don't have to do anything? I mean lets realize that you do not have to keep making huge profits at all times, you could just cover the costs and that's it? That would be good enough as well, and keep growing as a business is the key.

I knew an old guy who unfortunately passed away a few years ago, and he owned 4 huge factories for his products, imagine needing 4 huge factories because he was selling that many products. Until he passed away, dude had more and more and more debt, he kept on being on a loss all the time, as a company that sold 4 factories production worth of products they were always making a loss, weird right? Not really, if you are growing as business value, then profit doesn't really matter, because while he was in debt, his company became from zero to nearly 27 million dollars when he died, that's what he focused on, the value and not the profit.

[Silberman]

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

It depends on the kind of casino you are taking about, when it comes to the big casinos which are incredibly popular within the community I doubt they are coping at all, to me this is just business as usual for them as they have so many clients all over the world and they have gotten so many profits over the years that something like this does not affect them, however for the small casinos the current crisis can be problematic since they do not have the funds or the clients to overcome it so easily, so I would expect several of those small casinos to disappear during the next months.

[Finestream]

I think they are fine, they don't need to do any adjustments.

As from 16 October to 13 November 2022, there was a cricket tournament ( ICC world t20 cup) and cricket is the fifth-most betted-on sport in the world.

After that, FIFA World Cup started ( and I think FIFA is the most betted event)

So in my opinion the sports betting platforms are fine and it can be guessed from their promotion campaigns that they are earning well.

I believe not all casinos have been affected that much with the pandemic and are subject to close until further notice. There are still who have remained on the operation and with the same updated games, bonuses and promotions because that’s the only way they can attract more users to play. Maybe there are less physical gamblers before when the pandemic is at its verge since others have turned online, and those physical gamblers have come to limit their bets since everyone’s budget that time were so tight. But I guess for now, everything is starting to be back to normal, and those who have closed have resume their operations already, which means the competition for this type of business is stiff again.

[Ojima-ojo]

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

One thing for sure is that, bad and unfavorable market condition does not effect all business, and if you can recall this year 2022 which have been filled with so many uncertainties and bad market condition, we still have a few other projects that this year best year for them, in terms of profits maximizing and other development.

And gambling platform and the e-gaming industry is one of the young fast growing industry that have witnessed a lot of success in the near market and no doubt the fact that some casino has closed down because of bad market conditions while others made milestone progress in t year too.