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

[goinmerry]

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

It's no secret that during the pandemic, some physical casinos do some cost-cutting in order to save some companies' expenses while it's not possible for them to generate money because gambling establishment is not allowed to operate during the peak of the pandemic.

Right now, I think they already managed to cope with the situation and revenues are now starting to flow into their businesses.

I just hope that those employees who are being part of mass lay-off will be re-consider to get hired again.

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[coin-investor]

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 are the most stable industry online, if there's a struggle it is on the case to case basis and it's on one casino's mismanagement, not all casinos are the same some started with huge budgets and are backed by great teams, others have been online for many years even without Cryptocurrency if one casino is struggling its because they are not doing the right thing and that is right marketing and interaction to the community, the industry is growing fast and very stable those casino that cannot keep up will be eliminated.

[agustina2]

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 seem just fine even during the worst days of the whole world because of the Covid-19 pandemic.

In fact, lots of news and reports referring to the growing big numbers of people that do online gambling during that time are everywhere, especially in European countries. It seems that online casinos really don't feel being under the worst crisis during the pandemic.

Physical casinos are those that really got hit badly because of those obvious reasons. But soon they will go back to normal, that's for sure.

[romero121]

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 seem just fine even during the worst days of the whole world because of the Covid-19 pandemic.

In fact, lots of news and reports referring to the growing big numbers of people that do online gambling during that time are everywhere, especially in European countries. It seems that online casinos really don't feel being under the worst crisis during the pandemic.

Physical casinos are those that really got hit badly because of those obvious reasons. But soon they will go back to normal, that's for sure.

During the pandemic good number of cryptocurrency accepted gambling sites came into usage. The number keeps increasing even after the pandemic. During the lockdown out of covid-19, people are within their homes. More traditional Casinos too shifted their services online. In all time period the usage of gambling platforms never decrease, as people like you and me looking free money amidst the risk have turned to be common.

[Die_empty]

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 of the greatest advantages of online casinos and other gambling firms is their ability to operate with less staff compared to offline or land casinos. They easily embrace new technologies to reduce their human staff strength. Like every other business that has been affected by this economic downturn, they would have to look for avenues to reduce their cost of operations. Seeking alternative and cheaper advertisement channels could be one of them. Instead of spending so much on endorsements, more money can be channeled to social media adverts. These firms can also diversify to other forms of business that might be more lucrative until the global economic crisis subsides. It might not be out of place for some of them to invest in other entertainment sectors just to cover some costs.

[Chikito]

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 of the greatest advantages of online casinos and other gambling firms is their ability to operate with less staff compared to offline or land casinos. They easily embrace new technologies to reduce their human staff strength. Like every other business that has been affected by this economic downturn, they would have to look for avenues to reduce their cost of operations. Seeking alternative and cheaper advertisement channels could be one of them. Instead of spending so much on endorsements, more money can be channeled to social media adverts. These firms can also diversify to other forms of business that might be more lucrative until the global economic crisis subsides. It might not be out of place for some of them to invest in other entertainment sectors just to cover some costs.

Behind all advantages, there are flaws that have to reduce and mitigate how to close it by Casino Online. As we know new technology has more slit than offline where need a lot of supervisors around the casino. Online casinos are not around the problem of the casino, but the server needs military equivalent security, if not, Millions or Billions of money will be lost when only 1 attack has a bit cleft on the server which already saw happened many times on a number of the online sites.

[QueenVera]

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 already established businesses. Not just casinos should be doing good.
From my thoughts, most of this casinos especially online and even offlines are striving now because it has turn the only work for the common man. In most developing countries where the inflation rate is very high, and there is scarcity of job, then casinos are the hope of the common man because one can have to play with relatively very little amount of money with expections to win big on those amount played and the rate of gambling lately has really increased rapidly.

[Jawhead999]

Online casinos spend lower operational cost rather than offline casinos, but of course macro economy problem will affect their profit. I think it's not surprising for business to take a loan, reducing their staff or reduce their salary in order to maintain their business. If they can't maintain their performance on this situation, they will bankrupt and it's easier than offline casinos. They can just create new casino after they have enough money when the economy already recovered.

[rahmad2nd]

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?

Actually I'm not too sure, but it seems that online casinos don't require too much maintenance costs like land-based casinos. as well as the people they employ, I don't know for sure. however, it seems that online casinos don't involve as many workers as we see in land-based casinos. maybe on a smaller scale when compared to land-based casinos.

yes, as you said. many companies are affected by the situation that occurs in the world economy, not to mention businesses engaged in the entertainment sector. including the gambling industry that has been affected, especially land-based casinos after the COVID-19 virus and after the collapse of the world economy.

however, it seems that online-based businesses are not as impacted as you ask in this thread.
Again, we don't know for sure, but it looks like the online casino industry isn't too affected by what's happening in the world economy. actually we can look for the data and statistical information if we need it. So in conclusion, the online casino industry is not as heavily impacted as an industry that operates in the real world.

[dimonstration]

Online casinos spend lower operational cost rather than offline casinos, but of course macro economy problem will affect their profit. I think it's not surprising for business to take a loan, reducing their staff or reduce their salary in order to maintain their business. If they can't maintain their performance on this situation, they will bankrupt and it's easier than offline casinos. They can just create new casino after they have enough money when the economy already recovered.

This is right. Online casinos has lower payroll for there staff since they are just using 3rd party game softwares on all there games. They are just paying minimal employee for support, security and devs to maintain the casino and its not that high operating cost compared to physical casino that has other bills and employees to attend lots of physical work.

I believe casino profit will decrease but not that much since gamblers will always find there way ro find money and most whales players on gambling is super rich in real life that can sustain gambling activities despite recession.

[Cryptomultiplier]

If other businesses in other sector are finding cheaper but efficient new ways of sustaining their online businesses, I don't see why online casinos or other sports betting platforms won't survive these recession times if they apply new strategies to not only save cost but also maintain a good profit margin.
So yea, I think online casinos and sports betting platforms are coping fine. People love to gamble. Mostly in seasons where the worlds known sports like football, basketball, and other tournaments are getting hot. The pandemic really made an online impact for those businesses that had the foresight. Since then, I think online has won on many fronts for most businesses, casinos and other thriving sports betting platforms inclusive.

[Jemzx00]

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?

Actually I'm not too sure, but it seems that online casinos don't require too much maintenance costs like land-based casinos. as well as the people they employ, I don't know for sure. however, it seems that online casinos don't involve as many workers as we see in land-based casinos. maybe on a smaller scale when compared to land-based casinos.

yes, as you said. many companies are affected by the situation that occurs in the world economy, not to mention businesses engaged in the entertainment sector. including the gambling industry that has been affected, especially land-based casinos after the COVID-19 virus and after the collapse of the world economy.

however, it seems that online-based businesses are not as impacted as you ask in this thread.
Again, we don't know for sure, but it looks like the online casino industry isn't too affected by what's happening in the world economy. actually we can look for the data and statistical information if we need it. So in conclusion, the online casino industry is not as heavily impacted as an industry that operates in the real world.

Operational and maintenance costs of land-based casinos far outweighs online casinos. Still, Online casinos are affected the by the economic situation but that much compared to offline businesses. I guess, in some way online gambling platform can easily cope up with the economic situation we are experiencing especially during the pandemic. As most offline gamblers has transitioned unto playing online instead to avoid physical contact.

Probably, most online gambling casinos are doing fine and haven't made any drastic measure as to reducing workforce.

[348Judah]

If other businesses in other sector are finding cheaper but efficient new ways of sustaining their online businesses, I don't see why online casinos or other sports betting platforms won't survive these recession times if they apply new strategies to not only save cost but also maintain a good profit margin.

Well said, as an online casino or or sport betting platforms, there must be an uo to date review and feedbacks on recent progressive achievements with their gambling services they offers gamblers, this willake them take some precautionary measures to see how they can adopt something new to create an effective change they would have wanted every gamblers to experience from their website, this may be demanding but it will also yield a return to them because their gambling services will be so enjoyed to the fullest in limitless plaleasure.

So yea, I think online casinos and sports betting platforms are coping fine. People love to gamble. Mostly in seasons where the worlds known sports like football, basketball, and other tournaments are getting hot. The pandemic really made an online impact for those businesses that had the foresight. Since then, I think online has won on many fronts for most businesses, casinos and other thriving sports betting platforms inclusive.

The truth is that we all love sporting activities together with gambling regardless of money being involved or not but they also have been well hitted also through the impact of the pandemic and current economy situation and are still running fine even though might have realized drop in the rate of thier income flow, but it never stopped their engagements to being committed to their gambling activities offered.

[Casdinyard]

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?

I don't think they are the most affected, if affected at all, by inflation and other economic struggles we are experiencing. Casinos and Sports betting platforms are there to take money and from my observation, no matter the economic state of the world some people will always find a way or a reason to gamble. More over, these entities could always find contingencies and sustainable stratagems to employ during recessions and financial breakdowns, I believe they always account for situations like these. So yeah, I don't think they are struggling really, more so coping against the situation.

[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?

I don't think they are the most affected, if affected at all, by inflation and other economic struggles we are experiencing. Casinos and Sports betting platforms are there to take money and from my observation, no matter the economic state of the world some people will always find a way or a reason to gamble. More over, these entities could always find contingencies and sustainable stratagems to employ during recessions and financial breakdowns, I believe they always account for situations like these. So yeah, I don't think they are struggling really, more so coping against the situation.

They arent struggling and if we consider and do look upon on how much they've been earning or speaking out with revenue then it wont really be that much of an issue if we do talk about economic matters.

They wont really be that affected and could simply go with the flow and could sustain as long there are people whom would really be playing on their platform or casinos then it would really be
just that right for them to survive.

In speaking about economic matters and problems then the ones would be affected are specially on some industries but not totally
able to take it down though.

[Cookdata]

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?

No matter the situation of the economy, there are some jobs that wouldn't be able to eliminate from the equation since there is money involved. Look at online gambling where they need to have a steady developer who is supposed to handle technical issues, the customer care support must be there to attend to customers, the team responsible for withdrawals and the group responsible for operations, so in conclusion, no matter the situation of the economy, gambling will remain intact as long as the company is operating great.

On the other hand, when they see you as a customer who regularly played and they don't see you again because you lack some change to stake a game, the casino usually encourages their players with a bonus to come back and try their luck, casinos know best how to keep their business running without interruption of some sort.

[harizen]

More traditional Casinos too shifted their services online.

I don't think that most traditional casinos shifted their service online during the pandemic.

Instead of doing that, they just accept the fact that can't operate until further notice, and to reduce the cost of the operation, they lay off some of their employees.

If I missed something here, can you give examples of those traditional casinos that shifted their service online just to cope with the financial situation?

[AicecreaME]

As far as I know, online casino's and sports betting platform that has established their reputation and credibility to their clients and to the community are still doing better in the gambling industry. People have been bored most especially during the peak of the pandemic. Those that can afford to gamble because they have a spare indulged in gambling, while others who just have enough made a pass in gambling during those trying times. I can attest to this because I know personally people who opt to did the scenarios mentioned.

While some of the players prioritized the necessities first, it still doesn't remove the fact that the established gambling platforms still catered to a good market to make them profit and to keep their business running up to date. Right now that there has been more ease on protocols and the pandemic has eventually being resolved by vaccinations and healthy safety guidelines, businesses like gambling casinos are also starting to be better in terms of profit and operation and there's really a little to be concerned about.

[chaser15]

New casinos are still coming and that's an indication that gamblers are still here despite of the threat of a big crisis.
The lifeline of the casinos are the gamblers, this is why many old casinos are doing their best to give bonuses and promotions to those players because if they don't probably that gambler will leave the site and that could affect their income. Casinos in my country are still doing good, top companies still have a good financial report and a profit. Dealing with the economy right now is not easy but they have to do their best to stay in this market and for them to survive the crisis, online casinos should already have plan for this.

There is no big crisis, to begin with for online casinos even during a pandemic. Since people mostly stayed at home, playing gambling is one of their good past time to kill boredom. Only offline casinos experienced a crisis during the pandemic and that is something hard for them to deal with. These casinos literally got closed for years and it's only recently they are catching up on their supposed revenues on the past years.

EDIT

I found these 2 articles that prove that online casinos didn't suffer during the lockdown:

https://www.eehealth.org/blog/2021/01/gambling-and-the-pandemic/

Increased online gambling during a pandemic

[traderethereum]

I don't think online casinos have had too much effect because of yesterday's pandemic because they operate over the internet, which has made it easy for them to reduce a lot of costs.
The online casinos are still doing well, and I think they may not reduce staff because their staff is working from home.
And online casinos have benefited from yesterday's pandemic because many people have to stay home and spend more time working.
This allows people to see many gambling advertisements and makes them try to gamble.