The Gambling company that did hit the jackpot during the pandemic.

[harizen]

What do you think ?
Will the government think twice before keeping the gambling market the same or will they revert back when everything is normal.

As far as these gambling companies are paying the right tax and complying with the government's rule, I see there will be no changes about the policy even the pandemic will be over.

The downside is, there will be more illegal gambling operators that will pop out everywhere due to the fact that people can afford to gamble even amid the pandemic, and that means, they can gather more customers even they are unregulated or unlicensed. In that case, expect a hard regulation that might become a hassle to legit gambling operators and to their customers as well (hard KYC).

[Wexnident]

I do think this presents a strong case of how it should also continue the same in the future. People can have much more options and at the same time regulations are already there.

It does indeed, but it's just a single instance. No matter how big the casino is, it's still a single instance of how a gambling company made big profits, which is not enough imo to actually persuade other countries that they should opt to follow through or continue doing the same. The Government would still need to look into it on the long run to see how it would actually be beneficial, and imo, with Gambling still having that negative image stamped on it, there would always be a group or two that would stand against it no matter what

What do you think ?
Will the government think twice before keeping the gambling market the same or will they revert back when everything is normal.

Dunno, it really depends on how the government actually observes the development of the gambling market right now. If profits were the only thing to see, then they'd sure as hell keep it up, but that's only one factor after all.

[Lorence.xD]

The government has a lot of things to worry about in this pandemic than looking at these gambling companies, they have a virus and the needs of the people and their economy to look into, even if the gambling companies are making money they are taxed and these taxes is helping the government and the operation of the gambling casinos are helping employment, this is the case in our country, but of course even if the gambling companies are making huge profit in this pandemic, they have a moral obligation to the community.

That is if the gambling companies are really paying their taxes because AFAIK gambling taxes are a lot of money and I don't think that they aren't willing to pay that taxes. You are right they should worry about the pandemic but they have to balance everything and there are departments of the government that are focused on gambling businesses anyway so your opinion that they shouldn't focus on gambling companies is invalid.

[bitterguy28]

No wonder why they are one of the most popular and controversial gambling site that accepts Crypto and Fiat.

I even See them advertising in all sides of internet , From social media and even in free movie sites? they have advertising .

So how they become this winner from the gambling operation ? that is from popularity.

[Kong Hey Pakboy]

The pandemic gave a lot of business opportunities and income opportunities to online gambling. Since physical casinos are not operating, most gamblers especially problematic gamblers had no choice but to resort to using online casinos. So no wonder some casinos had earned way more than they usually earn daily compared before the pandemic.

Not a lot of business to be exact because there aren't a lot of business that was ready for this but maybe with the pandemic being dragged on for over a year now, I think that they have already adapted to the new normal. Not to mention that it isn't just the gambling patrons that are getting in the online gambling because other people are trying to kill boredom, they also seem to get hooked and become new clients for this gambling sites so it is really understandable that there are more traffic in these sites.

[ultrloa]

The pandemic gave a lot of business opportunities and income opportunities to online gambling. Since physical casinos are not operating, most gamblers especially problematic gamblers had no choice but to resort to using online casinos. So no wonder some casinos had earned way more than they usually earn daily compared before the pandemic.

Fiat based casino well maybe some of gambling site prosper specially if they do a good promotion in times of pandemic since those gamblers who used to play at physical will provably shift to online to kill their boredom and continuously play the games they like. But if we talk on crypto based casino not all prosper as Yolodice has close down their operation in times of pandemic so maybe this kind of success is not for all since there are so many things has need to consider since first people doesn't have enough funds and fees rise up due due to the demand gotten by major alts in this pandemic season.

[michellee]

The pandemic gave a lot of business opportunities and income opportunities to online gambling. Since physical casinos are not operating, most gamblers especially problematic gamblers had no choice but to resort to using online casinos. So no wonder some casinos had earned way more than they usually earn daily compared before the pandemic.

I think it is not just in the gambling business, but it is also in the other business because when people stay at home while they need to buy something, they will order online, which means more income to the company. I am sure that the income for many online companies increases their income. And this pandemic gives more opportunities to online gambling as many gamblers who always play on the offline casino will try to move to the online casino.

[jrrsparkles]

In 2019, the company stated in an annual filing that Mr. Coates’s daughter, Denise Coates, the co-chief executive, had earned more than $420 million

$420 million in 2019. The same year Elon Musk was investigated by the SEC for announcing his $420 per TSLA share without backing. Wonder if there's a connection there.

I've seen many news articles on gambling establishments being profitable. These seem intended to give the public a negative opinion of gambling as a thing where the house always wins and the gambler always loses.

I wonder why not much attention is being given to gamblers on draftkings or fanduel profiting millions of dollars as well. There are many gamblers and fantasy sports players who are becoming millionaires. Who are beating the house on a consistent basis.

Coverage of gambling seems somewhat one sided and biased atm.

Its actually another perspective on the gambling sector, some gambling sites even wnet bankrupt due to their poor financial management so it is important to keep a limit on maximum allowed amount to win tk avoid bankruptcy. House always wins but sometimes the gamblers who are lucky enough will take the house profits in one or two bets.

[avikz]

What do you think ?
Will the government think twice before keeping the gambling market the same or will they revert back when everything is normal.

I don't think the gambling market would remain same as it is now. Due to the covid induced lockdown, we have seem a large portion of the workforce working from home. So it indeed gave them a chance to try their luck in gambling market. It's not just about the fiat gambling but the same has happened in the crypto gambling as well. We have seen many new gambling houses ramped up their games and some old inactive gambling houses start kicking again.

Once the covid starts disappearing and people will be back to their workplaces, the number would go down for sure! But it wouldn't be back to the pre covid situation because some people will continue with their new found love!

[slaman29]

Sorry but it seems like a super shill article and 2019 earning $420 (did anyone else notice this) has nothing to do with the pandemic by the way;) Covid was first detected in late 2019 but only in 2020 did all the bookies close down because of corona.

I think a lot of online companies are doing really well in current conditions!

[AicecreaME]

<...>

That does mean that overall pandemic did make the gambling restrictions more loose even for the countries where it's quite a havoc. Gamblers are able to make the bets more openly and at the same time both Government and the gambling companies are benefiting from the pandemic.

I do think this presents a strong case of how it should also continue the same in the future. People can have much more options and at the same time regulations are already there.

What do you think ?
Will the government think twice before keeping the gambling market the same or will they revert back when everything is normal.

I think it's the right thing to do to make people stay in their houses but can gamble at the same time. I don't think Government should be really that tight in gambling restrictions and regulations. I guess requiring KYC, no below 18, and has a job has the right to play gambling anytime he wants even if it is for pastime or for a living.

The reason why online gambling sites boost up their earnings is because people doesn't have any choice, they can't go outside to perform physical type of gambling so instead they tried online and they enjoyed it. Here in our country, "Online Sabong" is earning a lot of money during this time of pandemic.

[Ulven]

Indeed, online gambling activities have seen many users joining due to the closure of most physical casinos. This is a real reason why most online gambling companies are thriving.!!! That is why I think that governments will think more than once before announcing new legal measures related to preventing the expansion of these companies or issuing updates that contribute to the growth of this activity for the better. Especially if the companies achieve large revenues and pay taxes without evading them!!!

[Mauser]

That does mean that overall pandemic did make the gambling restrictions more loose even for the countries where it's quite a havoc. Gamblers are able to make the bets more openly and at the same time both Government and the gambling companies are benefiting from the pandemic.

I do think this presents a strong case of how it should also continue the same in the future. People can have much more options and at the same time regulations are already there.

What do you think ?
Will the government think twice before keeping the gambling market the same or will they revert back when everything is normal.

I think the pandemic did good for all the online casinos and bookmakers. All the business which was usually down in physical casinos or betting parlors switched now to the online industry. People have more time at home and are bored, gambling is a great way to escape the boredom of the corona lockdown. 

The governments probably relaxed rules on everything not healthcare related during the pandemic, there is a lot of things to do like supervising the Test Centers, Vaccinations, etc. On top of that the governments created Corona Relief Funds to give money to the people in need. So to focus on the pandemic I think the government turned a blind eye to everything else. And once the governments needs more money, they might start changing the online gambling market to create more tax returns.

[Renampun]

...

That is if the gambling companies are really paying their taxes because AFAIK gambling taxes are a lot of money and I don't think that they aren't willing to pay that taxes. You are right they should worry about the pandemic but they have to balance everything and there are departments of the government that are focused on gambling businesses anyway so your opinion that they shouldn't focus on gambling companies is invalid.

States that legalize gambling, of course, have a special division for gambling tax...
to be honest I was very surprised at the gambling companies that were still earning a lot of money during the pandemic because I thought they were completely closed and laying off their employees. gambling and taxes on gambling are lucrative business and money.

[goinmerry]

Sorry but it seems like a super shill article and 2019 earning $420 (did anyone else notice this) has nothing to do with the pandemic by the way;) Covid was first detected in late 2019 but only in 2020 did all the bookies close down because of corona.

It's not a shill article if you read the whole.

That part of the article wherein Denise Coates, who runs bet365, earned more than $420 million in 2019, is just telling us that the company is really profiting prior pandemic then boost more its revenue despite lots of people struggling financially during the pandemic.

[Lanatsa]

Sorry but it seems like a super shill article and 2019 earning $420 (did anyone else notice this) has nothing to do with the pandemic by the way;) Covid was first detected in late 2019 but only in 2020 did all the bookies close down because of corona.

It's not a shill article if you read the whole.

That part of the article wherein Denise Coates, who runs bet365, earned more than $420 million in 2019, is just telling us that the company is really profiting prior pandemic then boost more its revenue despite lots of people struggling financially during the pandemic.

Thinking up sensibly then even though there are success stories but the reality would really slap you in the face where these things isn't applicable or can be seen on anybody.

Of course there are businesses who made out some serious hit in terms of profit and some do really suffer in losses or bankruptcy due to that very common reason.

We can really differentiate the two even though this pandemic doesn't exist or shall we say we do talk on those normal days that we do have.
Not all business will really be getting that success.

[harizen]

I think a lot of online companies are doing really well in current conditions!

Speaking about the whole, I will disagree. Although some should be slowly going back on track by now.

Pointing to the gambling industry, despite the success of gambling amid pandemic, not all were able to sustain their operations especially that most people prefer to play on a much famous and known site.

[chaser15]

We can really differentiate the two even though this pandemic doesn't exist or shall we say we do talk on those normal days that we do have.
Not all business will really be getting that success.

I agree. Even this pandemic didn't happen, we can't assure if those other companies will be successful. Bet365 already established a good name in crypto gambling so expect that even pandemic, there will be lots of gamblers that will use their site.

Trust, reputation, good support, and having no problem with the government laws and policies regarding gambling - these are the mainly good characteristics that gamblers want on a certain site.

[acener]

I think a lot of online companies are doing really well in current conditions!

It isn't surprising at all since people couldn't go out most of our time would be online and to those who could afford it would go shopping online or gamble online,
So I already expect online business to grow during the pandemic or lockdown even delivery business has been doing great because of it.

[tygeade]

Actually pandemic helped the gambling industry a lot and I know this because during pandemic I was chatting at stake with fellow gamblers at times when I was bored and I saw a growth in the number of bets despite the number of matches actually going down. There were table tennis matches being done and people were betting like crazy and they even played casino once they visit the site. I think the medical industry and gambling are two clear benefactors during and after the pandemic.

There were thoughts that people will save more money during tough times but actually rich people who had tons of money but were busy during regular days got a lot of room to do careless things like gambling and even trading. I heard that a lot of people started trading in crypto during pandemic days because they had money and a lot of spare time.