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

[dothebeats]

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.

Well even if the economy is good, those who got it rougb turns to gambling in hopes of taking the prize home and not working for the rest of their lives. That's why a lot of people are betting on the lottery; they want to change their lives around in an instant and without doing too much work, so lottery is their best answer for that. I kinda understand what they want to happen in the lottery, but in other forms od gambling? Not so much.

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[Hispo]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses. I noticed that not long ago there were a relative lack of signature campaigns here in the forum right after a succession of red days, which led me to believe casinos were cutting some costs by limiting their advertisement campaigns or at least by relocating them.

[SirLancelot]

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) 

Not just casino but managing in general is not an easy task. Many people wants to become a manager because they think it looks cool and they also think about the perks but not until they know the struggles of being a manager. In casino business, managing bankroll is important because there are many people who are interested to gamble and bet more.

We need to make sure that we can pay those who win big. When it comes to expenses I think online casino have an edge because they are online anyway and you only need to hire a few staff for some positions like costumers support. Advertising can also be done free online because social media sites and forums are free to access.

[gantez]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses. I noticed that not long ago there were a relative lack of signature campaigns here in the forum right after a succession of red days, which led me to believe casinos were cutting some costs by limiting their advertisement campaigns or at least by relocating them.

Relating to signature campaign here I think what determine it more is btc price. If the price is dropping the number of the signature campaign get to reduce or not new campaign will be advertised but not very certain, just what I think. Casino are benefiting more because gamlers increase more. People introduce their friends daily to try luck for money through betting and playing casino games.

[harizen]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses. I noticed that not long ago there were a relative lack of signature campaigns here in the forum right after a succession of red days, which led me to believe casinos were cutting some costs by limiting their advertisement campaigns or at least by relocating them.

There is no doubt that online casinos are really a demand, especially during the pandemic or even amid the bearish market.

It's just that the competition will be tough. I believed if an online casino is cutting costs or something along those lines, that's because maybe they can't attract many users because of what I mentioned about the tough competition between online casinos. Pandemic, bear trend, recession, market not doing well - I think even with these economic situations, gambling won't stop its dominance and will just continue to grow.

[AmoreJaz]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses. I noticed that not long ago there were a relative lack of signature campaigns here in the forum right after a succession of red days, which led me to believe casinos were cutting some costs by limiting their advertisement campaigns or at least by relocating them.

There is no doubt that online casinos are really a demand, especially during the pandemic or even amid the bearish market.

It's just that the competition will be tough. I believed if an online casino is cutting costs or something along those lines, that's because maybe they can't attract many users because of what I mentioned about the tough competition between online casinos. Pandemic, bear trend, recession, market not doing well - I think even with these economic situations, gambling won't stop its dominance and will just continue to grow.

but don't take for granted that during the pandemic days, there are several casinos and bookies that were launched and are still doing great up until today. online gambling business in indeed one of the businesses that thrive during this crisis. as the number of these casinos and online bookies are still growing, it means, they are finding this business a very good one to earn profits. because if not, they won't dare to spare their funds in setting-up this kind of business.

[AicecreaME]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses. I noticed that not long ago there were a relative lack of signature campaigns here in the forum right after a succession of red days, which led me to believe casinos were cutting some costs by limiting their advertisement campaigns or at least by relocating them.

There is no doubt that online casinos are really a demand, especially during the pandemic or even amid the bearish market.

It's just that the competition will be tough. I believed if an online casino is cutting costs or something along those lines, that's because maybe they can't attract many users because of what I mentioned about the tough competition between online casinos. Pandemic, bear trend, recession, market not doing well - I think even with these economic situations, gambling won't stop its dominance and will just continue to grow.

It was in demand during the pandemic because people were so bored and have very limited access to do other recreational things in the comforts of their homes. Hence, they tries to find other ways to relax themselves and have some past-time. Despite the bearish market as well, many people are still engaging in gambling because they see it as a form of entertainment and way to earn some profits while making bets.

Indeed, competition will be tough because there are now so many casinos or gambling websites that are reputable and credible which will offer your good quality of service and variety of games to play with. It will just be a matter of consistency. The consistency of the casinos in offering great quality of service to their players will matter the most in this modern competition. How long they can satisfy their players and how innovative they will be to attract more players in the long run will keep them afloat the gambling industry.

[Maestro75]

While I don't think the current economic situation is hitting casinos as hard as other kind of businesses.

It is expected that casinos will continue to do well whenever the economy is bad as people continue to gamble thinking it will bring them solution. World economies will never get good and buoyant for every body. There are those that will be left out. This is why casinos and gambling outfits will continue to exist. Every business that is not about putting money in other people's pockets will suffer whenever the economy gets bad. But not casinos. The only thing that can make casinos suffer is government policy.

[ethereumhunter]

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.

That's because casinos know how to treat gamblers, especially those who frequently come to their casino sites. Giving regular promotions will certainly interest them in trying to get something interesting and that is also what makes them frequently visit the casino site. Experienced casinos already know what they have to do to invite more gamblers. They must have prepared a financial reserve to support the finances at the casino because if many whales gamble, they can use the financial reserve later.

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.

But it's not easy to manage our chances of winning because we also have to think about the luck we have to have while playing gambling. They can minimize the possibility of losing or even reduce the money they get from each loss. But that's only if they want to reduce the number of losses. Apart from that, they can lose more if they are not aware of it.

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.

If they gamble just because they want to win a lot of money, they better think again because gambling is not designed to give us a lot of money but the opportunity to have a lot to lose. But we have seen that some people can earn a lot of money and change their lifestyle to be more advanced. But usually, it won't last long because we still have a lot of money even though we have little money left.

[348Judah]

We cannot expect everything to always be rossy for them as there are hit times as well for every venture in life, this is the period whereby we consider them to have drop in foow of income due to many reasons that might have been behind such occurrence, they also have the peak period whereby they make recovery to evey of the downturns they have encountered in the past, it has always been that during trying times some of them cease to operate because of the extent of the looses which is beyond what they can bear while some maintain their standards and take loans to sustain their existance, but it's all because it is profitable makes many people to think about starting one and they will also embrace the challenges that comes in through, because every business has it own means of same encounters but funding is one of the key means to keep it rolling.

[Hispo]

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...The only thing that can make casinos suffer is government policy.

Government policies and own policies, I would add.
But we should not forget that government policies itself are bonded to the economy and the economical model of the country. In the end, casinos are businesses and if a country is going through a crisis and the party in power is in favor of non-liberal policies then casinos could see more taxing by the state, that is an example of the connection between the economic climate and the health of the gambling industry. It is situational, but it is possible; I have seen people and politicians (in USA) calling for an increase of taxes to businesses and wealthy individuals, casinos enter that category I think.

I agree that even in harsh times people continue to gamble, that is something I have witnessed myself here in my country as I have told in other threads.

[gantez]

but it's all because it is profitable makes many people to think about starting one and they will also embrace the challenges that comes in through, because every business has it own means of same encounters but funding is one of the key means to keep it rolling.

Generally casinos make more money from the customer and not losing more. They profit more than the lose this is what I'm saying.. If casino is complaining of lose maybe it is the winning for that time that is very high and that type of winning is not always coming all the time. Casino have more profit from gamblers than losing to them. It is the money for staking that is used to pay winners and not fresh money from owner, this is why people invest in casino.

[Quidat]

but it's all because it is profitable makes many people to think about starting one and they will also embrace the challenges that comes in through, because every business has it own means of same encounters but funding is one of the key means to keep it rolling.

Generally casinos make more money from the customer and not losing more. They profit more than the lose this is what I'm saying.. If casino is complaining of lose maybe it is the winning for that time that is very high and that type of winning is not always coming all the time. Casino have more profit from gamblers than losing to them. It is the money for staking that is used to pay winners and not fresh money from owner, this is why people invest in casino.

House do always win in the end, we do know entirely on whats the set-up or ending of all gamblers which is to lose money in the long run.Only a few could
make out some money but the rest are really that losing that much.This is what makes gambling business really profitable because of that never ending search for big hits or wins
from those people who do play and seeking for that thing.We've seen that gambling industry had able to sustain despite of the pandemic situation.
Some saying that there are ones who had closed their doors but eventually did came back when everything is going back to normal now.

[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.

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.

I'm not sure that traditional casinos have shifted their service online during the pandemic. Can you give examples?

What I'm sure is, they just decided to close temporarily because there's no choice but still remain as a physical casino when they are back in service.

Either way, now that pandemic is almost controllable and now a part of daily life, physical casinos will now be back being active status again.

[chaser15]

House do always win in the end, we do know entirely on whats the set-up or ending of all gamblers which is to lose money in the long run.

House was designed to give advantages to casinos.

That's why for gamblers to make at least a good winning play at casinos, they should try to take a break after a big win because in the long casinos will just eat their entire balanced. That's why it is called gambling.

That's the reason why casinos are making good profits even if the world is suffering from financial problems because of the pandemic or when the crypto-market is on a bear trend.

[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?

It all depends on the financial strength of the casino as everyone is actually feeling the heat of the global economic recession right now.
Most of this casinos especially tye online casinos should be thriving more now because it is seen by most people as the hope of tye common man and an easy way outnof hunger, well as a way to also make ends meet.
In some underdeveloped countries like mine which have been greatly affected by this recession, with a greater number of workers been relieved of their jobs, tend to Mae this people fall back to gambling as a way to survive and make ends meet
And you should know that if their are greater number if people diving into gambling, then the casinos should be doing well or we could have been hearing if casinos folding out of business which isn't the case.

[TopTort777]

I think online casinos are doing great. Of course financial situation has reduced their income, however they still grab a lot of money from gamblers. There were always gambler, there will always be gamblers. Infinite business I must say. While gambling, people seek to many goals. For example my post soviet country is filled with hundred if not thousands of small slots game rooms (they have proud name of a "Casino" lol). No matter how bad is situation in country, no matter what time is, they are always open. I am 100% sure that neighbour countries are also having such thousands slots game rooms. As to online casino. You just need a page, script, admin, some tech guys, and few more people like security manager. You dont have same expenses as offline casino. It is easier for them to survive, yet hard to survive competition.

[danherbias07]

I think online casinos are doing great. Of course financial situation has reduced their income, however they still grab a lot of money from gamblers. There were always gambler, there will always be gamblers. Infinite business I must say. While gambling, people seek to many goals. For example my post soviet country is filled with hundred if not thousands of small slots game rooms (they have proud name of a "Casino" lol). No matter how bad is situation in country, no matter what time is, they are always open. I am 100% sure that neighbour countries are also having such thousands slots game rooms. As to online casino. You just need a page, script, admin, some tech guys, and few more people like security manager. You dont have same expenses as offline casino. It is easier for them to survive, yet hard to survive competition.

Actually, I think they are gaining more than physical casinos.
It's just divided because there are many online casinos and sports bookies that opened up. But sum it all up, the money coming in will be much higher than the total of how much the old-school casinos are making. I don't have the numbers but that may be possible in today's era.

You are right, the expense of opening an online casino is not much for capital. They don't need a big space to rent, just need enough room to put in encoders, customer support, computer specialists, and marketing unlike physical casinos which also buy the devices for slots, tables for poker, blackjack, and it's maintenance.

[YOSHIE]

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

In my understanding, the online casino business industry is different from other businesses in general, I mean buying/selling business or secondary and primary needs business.

Organizing or managing an online gambling business has no effect on the bad world economy, the gambling business adapts from its visitors, the more visitors and risks its assets and the greater the profits, Online casino sites do not make sales, as other businesses do, if sales are not achieved with certain targets there are cuts and reductions in staff and so on.

As far as I know the gambling business there are two items and categories of online casinos maintaining, growing and collapsing, namely: a lot of visitors they develop and don't have visitors they go bankrupt and die, regardless of whether the world economy is bad or good, example: The Impact of Online Casinos on the World Economy.

[348Judah]

Everyone needs to cope else they will cease from operations since there have been economical challenges all over everywhere and this is not really a location base this time, gambling sectors is as well finding it difficult to cope but still yet they maintain their active versality in presenting the gambler's choice with gambling at all cost, if they should close down it will be an additional accumulation of pressure upon them because some of them were already finding a means to clear their debts and settle all loans incure during the covid  pandemic closedown, it time they need to thrive and strive hard to escape the challenges since everything is back to full operations after the experience of covid closedown, they must continue to operate in other to liberate, if they don't want to remain in debts settlement.