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

[Plaguedeath]

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 thing is based on google trends and the other research, many people are really interested with online casino. So this mean even though we're in pandemic or recession, people will want to gamble since they want to make money online instant. That's make them addictive and the house will make a lot money since they're keep losing. I think online casino is really a profitable business since anyone can access and easier than land based casino.

[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 thing is based on google trends and the other research, many people are really interested with online casino. So this mean even though we're in pandemic or recession, people will want to gamble since they want to make money online instant. That's make them addictive and the house will make a lot money since they're keep losing. I think online casino is really a profitable business since anyone can access and easier than land based casino.

This makes the existence of online casinos increasingly recognized by people, especially people who often gamble in physical casinos that they cannot visit.
And that's what makes online casinos even more popular during the pandemic and can get many new members from many countries.
And slowly, playing online gambling makes them addicted because it can comfort those who cannot leave the house during the pandemic.
Online casinos themselves can reduce the costs incurred if they open a physical casino in one place. With online casinos, casinos can be more popular in many places.

[wxa7115]

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.

Without a doubt psychical casinos suffered as I remember the mayor of Las Vegas was not happy with the lockdowns and even when the pandemic was still going strong she wanted to open the economy and obviously the casinos as well.

However online casinos did really well during that time, because as everyone was on their homes without too much to do people that were not interested in gambling before decided to begin to gamble as a way to keep themselves entertained during those difficult times.

[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?

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.

Without a doubt psychical casinos suffered as I remember the mayor of Las Vegas was not happy with the lockdowns and even when the pandemic was still going strong she wanted to open the economy and obviously the casinos as well.

However online casinos did really well during that time, because as everyone was on their homes without too much to do people that were not interested in gambling before decided to begin to gamble as a way to keep themselves entertained during those difficult times.

On just on simple logic which on the time that pandemic hits then it is really understandable that online casinos were really that relevant on that time or simply they are generating so much revenue considering

that physical online gamblers do really tend to switch up into online on easing up their boredome.We know that there are other industries were affected and gambling industry is one that do take hit badly.
And now that everything is going back to normal where doors are already opening up then they are really back to business.

Gambling industry is profitable but of course it would be depending on how many users you do able to hook up.This is why competition is really fierce for this one.

[LUCKMCFLY]

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?

Well I understand that the only thing that could have changed is to have more Peronsla because the demand was incredible, in the casinos I know that they increased their way of having more clients, in fact thanks to the pandemic the casinos became even more profitable, because my people were looking for win money in any way, and a very reckless way to do it is to go to casinos and people are so desperate that it worked for some and not for others, I think that what the pandemic did was help much more Since the casinos they came back stronger and much more consistent, I never saw bad changes, just the opposite.

[TimeTeller]

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?

Well I understand that the only thing that could have changed is to have more Peronsla because the demand was incredible, in the casinos I know that they increased their way of having more clients, in fact thanks to the pandemic the casinos became even more profitable, because my people were looking for win money in any way, and a very reckless way to do it is to go to casinos and people are so desperate that it worked for some and not for others, I think that what the pandemic did was help much more Since the casinos they came back stronger and much more consistent, I never saw bad changes, just the opposite.

Online casinos got their boost in business during the pandemic days.
Just think of new sportsbooks that have been introduced during this period.
We can say, online gambling got their popularity and more players when pandemic hit the world.
That is true, instead of going bankrupt, most of these gambling sites got their good revenue because of increasing popularity of online casinos.
With a lot of advantages offered to gamblers, online gambling is like the new norm to play and place your bets at the comfort of your home.

[Davidvictorson]

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?

Here's how this article answers the question - No sector of the gambling industry is immune from the effects of the global recession, research has shown that some are better able to mitigate its effects than others through new technology, innovation, and benefitting from new regulation. In addition, sports betting does better in a recession than casinos because of the high number of global sporting events and the subsequent large volume of public interest globally. The FIFA world cup will starts in 2 days, despite the recession, many people are going to bet and we will see an increase in sports betting revenue.

[Poker Player]

Online casinos got their boost in business during the pandemic days.
Just think of new sportsbooks that have been introduced during this period.
We can say, online gambling got their popularity and more players when pandemic hit the world.
That is true, instead of going bankrupt, most of these gambling sites got their good revenue because of increasing popularity of online casinos.
With a lot of advantages offered to gamblers, online gambling is like the new norm to play and place your bets at the comfort of your home.

But in that case it was different. There was a crisis and a downturn in the markets but people stayed at home. And what did they do? In most cases, they ate more and had a lot more online leisure, including gambling. I noticed it in poker because it was like going back 10 years, the rooms were full of fish. Now it is not the same, and gambling is not immune to crises, as shown in the article linked by Davidvictorson

[Maestro75]

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

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them. There are new casinos and gambling sites springing up everyday and I guess this present hardship helps their businesses.

[ethereumhunter]

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

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them. There are new casinos and gambling sites springing up everyday and I guess this present hardship helps their businesses.

Let's just hope that people don't think like that of using gambling to make money because it's really hard to do. Most people will only experience defeat rather than win, let alone big wins. Indeed, certain people can really get big wins, but not many. And that is what makes online casino sites increasingly popular on the internet because they can attract more people, especially by using attractive promotions coupled with giving bonuses.

We do not have to follow what others did because we see it will not work well for us. We better search for the other way to earn money than just playing gambling to earn money.

[darkangel11]

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

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them. There are new casinos and gambling sites springing up everyday and I guess this present hardship helps their businesses.

I feel the same way, like they're unaffected or even doing better in this economy.
We have rising prices of goods and services, high inflation, dropping stocks. The average guy who has his habits like smoking, drinking, gambling, is still going to do it. The situation isn't that bad when it comes to your needs and addictions. You won't have enough money to take a loan, buy a new car or travel but you will still have that $50 to bet on your soccer team.

[Wexnident]

Let's just hope that people don't think like that of using gambling to make money because it's really hard to do. Most people will only experience defeat rather than win, let alone big wins. Indeed, certain people can really get big wins, but not many. And that is what makes online casino sites increasingly popular on the internet because they can attract more people, especially by using attractive promotions coupled with giving bonuses.

I wouldn't use "hard" as a description for gambling really, more like unknown, neither easy nor hard since you can't exactly figure out whether you're going to win or not in a gamble. Ofc it tends to fall more toward the losing side since the house always wins, but you get my point I think. Unfortunately since it's "unknown", it ends up looking more attractive to most people as well hence why they're going for it.

I feel the same way, like they're unaffected or even doing better in this economy.
We have rising prices of goods and services, high inflation, dropping stocks. The average guy who has his habits like smoking, drinking, gambling, is still going to do it. The situation isn't that bad when it comes to your needs and addictions. You won't have enough money to take a loan, buy a new car or travel but you will still have that $50 to bet on your soccer team.

It mostly boils down to only seeing one perspective of their lives instead of its entirety (especially since we can't exactly see the other sides) imo. They're probably struggling, but it may be only visible in the later term since they have say, savings, or are just asking loans and stuff like that.

[Fatunad]

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

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them. There are new casinos and gambling sites springing up everyday and I guess this present hardship helps their businesses.

I feel the same way, like they're unaffected or even doing better in this economy.
We have rising prices of goods and services, high inflation, dropping stocks. The average guy who has his habits like smoking, drinking, gambling, is still going to do it. The situation isn't that bad when it comes to your needs and addictions. You won't have enough money to take a loan, buy a new car or travel but you will still have that $50 to bet on your soccer team.

This is actually true and same goes into those lottery bettors as well on which even if we are on that hard situation in terms or talks of day to day living which you do still have the money on allocation on buying a ticket.
Same goes for those gamblers who do really be able to find a way for them to have the money for them to gamble. This industry is something becomes bigger as years passing by, although we had seen
that experience about the pandemic situation where it did really make up some toll in terms of revenue specially on physical casinos but totally opposite into those online ones.
They are indeed coping because if they dont then lots of business on this industry had already closed up their doors.

[ethereumhunter]

Let's just hope that people don't think like that of using gambling to make money because it's really hard to do. Most people will only experience defeat rather than win, let alone big wins. Indeed, certain people can really get big wins, but not many. And that is what makes online casino sites increasingly popular on the internet because they can attract more people, especially by using attractive promotions coupled with giving bonuses.

I wouldn't use "hard" as a description for gambling really, more like unknown, neither easy nor hard since you can't exactly figure out whether you're going to win or not in a gamble. Ofc it tends to fall more toward the losing side since the house always wins, but you get my point I think. Unfortunately since it's "unknown", it ends up looking more attractive to most people as well hence why they're going for it.

It's true. We won't know whether we will win or not in gambling and can only keep playing if we are curious about the win. But we must remember that the house will always win, no matter how hard we try, because that is their place of business. If several people can win a lot, it is still smaller than the casino's winnings. Those people know but they try anyway because it will attract many people to keep returning to the casino. Moreover, they get tempted by the casino's promotions, so they return to the casino.

[Pandu Geddon]

Moreover, they get tempted by the casino's promotions, so they return to the casino.

no one wants to lose money in their business. and this casino business certainly provides an extraordinary attraction for gamblers. especially casinos that give big promotions to their members. in difficult situations, I think it can be done even if the company is experiencing financial problems. if it attracts more and more new players who deposit their money into the casino, the greater the profit for the casino will also be.
every casino must have financial reserves to back up the finances that rotate at the casino. it can help businesses keep going even in difficult situations. and casinos can find ways to recover their finances by way of big promotions.

[davis196]

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 think that the online gambling/sports betting industry is one of the most profitable industries around the world.
Even in times of crisis the gamblers and sports bettors keep spending money on gambling/sports betting.
How expensive is to sustain an online casino/sports betting platform? I don't know. Maybe we should ask someone, who owns a big online casino/sports betting website. I don't think that the cost is that big and I don't believe that many online casinos/sports betting sites would fire a big part of their employees.
Getting loans in times of a recession is a big mistake. The interest rates are going up and the future revenue might be going down. I'm talking about other businesses. The online gambling industry doesn't need loans, in order to survive.

[Jemzx00]

Let's just hope that people don't think like that of using gambling to make money because it's really hard to do. Most people will only experience defeat rather than win, let alone big wins. Indeed, certain people can really get big wins, but not many. And that is what makes online casino sites increasingly popular on the internet because they can attract more people, especially by using attractive promotions coupled with giving bonuses.

I wouldn't use "hard" as a description for gambling really, more like unknown, neither easy nor hard since you can't exactly figure out whether you're going to win or not in a gamble. Ofc it tends to fall more toward the losing side since the house always wins, but you get my point I think. Unfortunately since it's "unknown", it ends up looking more attractive to most people as well hence why they're going for it.

It's true. We won't know whether we will win or not in gambling and can only keep playing if we are curious about the win. But we must remember that the house will always win, no matter how hard we try, because that is their place of business. If several people can win a lot, it is still smaller than the casino's winnings. Those people know but they try anyway because it will attract many people to keep returning to the casino. Moreover, they get tempted by the casino's promotions, so they return to the casino.

I guess, yes, the house always wins however we can manage our chances of winning against the house which is why gamblers keep on making strategies to minimize the chances of losing however in the long run the house will always have the advantage, especially on games such as Slots and Dice. Also, the uncertainty or the unknown that Wexnident mentioned is more likely to depend on our luck whereas even if we bet on the highest odd that we can win, we can still lose to it.

[Kakmakr]

Managing a casino is one huge balancing act.... you have to make sure that you are building a huge enough bankroll ..so that you can pay out all the winnings, but at the same time you have expenses to pay for the operating of the casino and you have to make a profit.

Luckily for them, they can manage the RTP of the Slots that they offer and also how much they spend on advertising and also how many people need to be employed to operate the casino. (They simply reduce the support .... adjust the RTP and lower the budget on advertising to increase their profits) 

[Reid]

Well, I doubt they were hit hard because of the pandemic and the economic issues. It's more devastating on physical casinos and many of them closed down shop because they cannot maintain the expense anymore.
Online casinos are the ones harvesting those players now. Recently, I just saw a friend who had been playing slots non-stop, he even asks me for money online which he will pay for cash.
They will always have customers as long as their game is appealing. It's not about cutting anything; it's about adding more spice.

[Maestro75]

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them.

Let's just hope that people don't think like that of using gambling to make money because it's really hard to do.

But this is the reason why people go into gambling and no one can deny it. They believe gambling will make them come into new wealth so they can have an easy life style with alot of women chasing them and enough booze to go round for them. Women love wealth, cars, wine, they love good material and flashy things. This is what money can do. And those who take to gambling to achieve that easy money do not often get lucky. Rather the little they have is taken away from them by the casinos through losses.