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

[Rruchi man]

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?

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[Baofeng]

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?

Business wise, I think everyone is doing good, at least those who are established already. Specially during the pandemic, everyone is just at home in the last couple of years so they are raking big money I assumed. Unlike the traditional and land base casinos who are force to go offline for months even years because of covid-19. So there could be growth in online as players around the world continue to gamble using fiat and crypto based platforms. And you can also observed that there are casinos that pop up during 2020 that still manages to stay in the game.

[jackg]

A lot of countries still have strong employment statistics iirc.

Gambling sites probably do like most gaming or online sites and have measures that manage resources depending on load. If you've only got 4 people playing live blackjack, you don't need more than a 3 or 5 dealers on standby ready to go live if they're needed.

A lot of companies using games like slots don't need to run as many servers and can send some into standby mode at low load times (most machines from hibernation can take a few seconds to come live again). For the owner of the company it's up to them whether they need to extend cash reserves by expanding their company, audience or taking some other job to ensure they can remain afloat. I think creditors of previously profitible businesses are easy to find if you can prove you were once profitible and it's only the economic downturn that's made your business no longer financially stable/sustainable.

I don't think sports betting costs much to keep going either as many sites can outsource for statistics (such as paying for data from a company covering it live). The only main issue I'd see with sports betting is if few enough people bet that it becomes something that creates too much loss but they can normally adjust their odds or the way they're calculated to counteract this.

[dothebeats]

And here I thought online casinos are doing pretty good for themselves. I don't think there's that much to do for casinos to "cope" with whatever's happening outside. They can provide some bonues to entice peers and possible players on their platforms but that's just about it. They're doing great in terms of raking in profits and getting all the attention that they needed in order to attract new customers. Perhaps they'd only fall off if they fall short on what they previously promised to offer their players and if the service no longer feels like they want the money of their players.

[Jating]

Does casino really have high maintenance as compare to land base? So not sure if they are reducing their employment at a fast rate. So probably what they have is a support team that works 24x7, maybe a fraud department and the the security and IT experts, infrastructure guy to maintained the health of the system and probably do some maintenance jobs. And even if they will replace them, it's very easy to find someone, the way I see it.

[Fivestar4everMVP]

How do you think online casinos and sports betting platforms are adjusting to manage the situation?

I think you should first of all ask the casinos if the current economic situation affects them, if Yes, then you can ask them how they are coping with it.
But to comment my opinion, i personally do not think casinos and betting platforms are affected much by the global economic crises, most especially the big ones, and also consider the fact that running online casinos and betting platforms does not require much man force like it is with land based casinos, it is very possible for two or three persons to run an online casino successfully, most especially if they are all programmers, even a single person can run an online casino that is not so big, so personally, economic crises wont affect casino much because no matter how bad the economy is, gamblers will still gamble, casinos will still make money, and we cannot know how many employees working in the casino except the casino itself tells us.

[noormcs5]

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?

Online casinos is one business that is no much affected by the current economic crisis. Even during the pandemic when all other businesses were closed, the online gambling platform still continued its operations without much difficulty. Though the number of players and gamblers may reduce but the situation was very much better as compared to other businesses which were closed.

Does casino really have high maintenance as compare to land base? So not sure if they are reducing their employment at a fast rate. So probably what they have is a support team that works 24x7, maybe a fraud department and the the security and IT experts, infrastructure guy to maintained the health of the system and probably do some maintenance jobs. And even if they will replace them, it's very easy to find someone, the way I see it.

Being online means that you do not have to buy the building or pay the rent. You are saved with maintenance costs and no matter what is the on the ground situation, your business will never suffer. Secondly, even if people have little money, they will try to spend it on gambling and betting, as for most people gambling has become a need.

[btc_angela]

How do you think online casinos and sports betting platforms are adjusting to manage the situation?

I think you should first of all ask the casinos if the current economic situation affects them, if Yes, then you can ask them how they are coping with it.

I doubt though that casino's might answer the question straight forward.

But to comment my opinion, i personally do not think casinos and betting platforms are affected much by the global economic crises, most especially the big ones, and also consider the fact that running online casinos and betting platforms does not require much man force like it is with land based casinos, it is very possible for two or three persons to run an online casino successfully, most especially if they are all programmers, even a single person can run an online casino that is not so big, so personally, economic crises wont affect casino much because no matter how bad the economy is, gamblers will still gamble, casinos will still make money, and we cannot know how many employees working in the casino except the casino itself tells us.

But I do agree that casino's specially their sport betting side are not that affected by the global crisis. There are still games being played around the world that is being covered by casino, so it is still running for him. As for the number of people, yes possible that they are a only a few of them but in rotation and probably working at their home to do support task, so very low cost maintenance for the casino themselves.

[Hydrogen]

How do you think online casinos and sports betting platforms are adjusting to manage the situation?

The obvious pivot would be to cater more to high income bracket clientale. Demographics with high income margins where disposable income will not be significantly affected by rising food or fuel costs.

A second more desperate move would be to shutter physical brick and mortar locations to cut lease costs and focus more on internet business.

Lake Mead drying up in Vegas could force casinos there to seek to establish a new US city or state as the de facto gambling headquarters in the country.

But if we're being honest profit margins for many casinos are so large that they will not necessarily need to adjust or change their business to maintain profitability as the global gambling industry is expected to grow, or at a bare minimum, sustain itself.

[fortunecrypto]

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?

You just have to look at new casinos coming and established casinos doing massive marketing to get the whole picture that the online gambling industry is very robust, compared to other industries online and offline the gambling industry continues to thrive, the pandemic even helped it to sustain and thrive we have a data to prove this since many people are at home at the height of the pandemic, the gambling industry tapped a new market from gamblers who used to play on landbased, the gambling industry will continue to flourish because its a form of entertainment and people wants to get out of the chaos of the real world even for a short period of time.

[Lanatsa]

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?

Pandemic situation is nearly over and businesses not only on gambling industry had already opened their doors which means that the ones who hadnt closed their doors inside of 2 years on that pandemic situation

are the ones who did able to withstand that tough challenge since we know that revenue cant really be the same and those who didnt able to sustain have already shut their doors.
Its normal for a business to go bankrupt if they cant able to sustain which is normal.

For casinos and betting platforms then its true that there's a significant decline of profits but majority of them do still continue despite of the situation.

[darkangel11]

If you're asking about inflation and tightening, the answer depends on the casino. If they still have big mortgages and are heavily indebted they're probably struggling. If not, they should be fine.

If you're asking about covid, the bans have been lifted so they should be fine, unless if they are in China because there are crazy things going on in that country. According to recent news they were making employees live in factories because they were afraid of letting them go home and potentially spreading covid and now more and more workers break out of their quarantine and run home. A casino surely can't function in such climate.

If you're asking about war in Ukraine, casinos are probably not doing so good in the war zone.

[harizen]

How do you think online casinos and sports betting platforms are adjusting to manage the situation?

Big problems occur but there's always time to recover from it. And besides, online gambling becomes a trendy activity during the pandemic that's why I believed they didn't really suffer a financial crisis during that time as they able to cover those supposed profits in sports betting which was not present at that time. Now that the world is now recovering from what the pandemic bring, expect that currently, these gambling companies now able to sustain their operation as usual.

As the famous line says; "Business as usual".

[KennyR]

Unlike all situation people continue to gamble. This is the hard reality. So, gambling platforms making revenue isn't a big issue. At times the failure of gambling platforms happen at the initial days when they weren't able to support with a good funding. Someone winning a bumper will affect its payout and end the service. These days we don't see much of such situation. Everything is developed in a perfect manner to avoid security issues and bugs that ruin the platform and end the service.

[alegotardo]

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?

Honestly, this is one of the few market niches that are going in the opposite direction of the world economy as a whole.
Since the pandemic started online gambling has started to make fortunes of money and I don't see this sector suffering from economic problems.
Obviously, one or another enterprise ends up going bankrupt, but it must be due to mismanagement or other isolated problems.
I believe that gambling will still grow a lot.

[Awaklara]

however, the impact is felt on the online casino business. this is also because players naturally experience the impact of the needs and money they get in the real world.
but casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.

[Wexnident]

I'd consider it that they're pretty good really, rather than big tech companies like Facebook, Google, and others that already had a bulk of the dev market employees, some online casinos are still developing their teams, so they're pretty much still hiring (I myself am aware of a few companies looking for employees just recently). Not that it's an impossibility for some big online casinos to lay off employees in the near future though.

I also don't think casinos would have a big problem with regards to developing, most online casinos grew pretty well during the pandemic and that should've been enough time for them to build a solid foundation to at least weather through the current situation.

The biggest layoff I know about casinos was physical ones, and that was back at the start of Covid. There's also some recent news about possible layoffs from Macau casinos, but that's the most I know.

[Mahanton]

however, the impact is felt on the online casino business. this is also because players naturally experience the impact of the needs and money they get in the real world.
but casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.

Online casinos did really make out bigger profits on that pandemic time which people cant really go into physical casinos which means that everything involves online do really take advantage on that one since people
would really be dealing off with things that they cant possibly do on offline or physically.Come to mind that most transactions had been made out online because of quarantines or health protocols which did
really give out more revenue and now that things turns out to be normalized once again then profitability might really be equalized now.Depends on  what certain industries that they are making with.
Different industries does have different markets to be served out.So revenue would really vary.

[Don Pedro Dinero]

Well, if you look at what's going on in the forum, they don't seem to be doing badly. In recent months, there have been some signature campaigns that have ceased or have been put on hold, but there have also been some new ones, and if we look at the budgets they are managing, they must be making good profits and getting good ROI.

I mentioned this in another thread:

This makes me wonder how much money the casinos must make. If they fill the 100 users let's put a modest average of 50 USD a week, that would be 20,000 a month, just in advertising, and obviously the casino generates a much higher figure in net profit.

The livecasino.io in which I participate fills the escrow every month with about 10,000 USD. Obviously it is profitable for the casinos, otherwise they wouldn't do it. And even in the current bear market and with inflation, new casino campaigns have not stopped coming out. Although some of them have stopped or ended. But it seems that even with the crisis there is always money for vices moving.

(Translated from Spanish).

[ralle14]

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?

Most of the well-known gambling sites here probably don't have to change anything tbh since they're at a point where they've been through the ups and downs before and reducing their expenses could make things worse for them if they suddenly become understaffed. Then for those casinos that are struggling, I think they have to take the risk of putting up a promotion or some way to get their casino out there so they could get the best value out of their budget and at the same time slowly reduce their losses.