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

[ethereumhunter]

Online casinos have found a good place for gamblers and even offline gamblers because they are confused about finding a casino they can still use as a place to play gambling. And fortunately, with good promotions on the internet, gamblers can easily find the casino, and even many of those who don't know about crypto can immediately learn to use it to play gambling at crypto casinos. And after everything slowly returned to normal, these gamblers continued to play at the same casino or looked for other online casinos because they found comfort in playing gambling at online casinos.

It is a successful combination of many things that made online casinos peaked during the start of the pandemic and it's already attached to it even things have became almost back to normal.

The convenience that it has brought for many gamblers is what holds them back at it time and time again.

And that's what makes online casinos able to get more members because it turns out that many people who often play offline gambling are interested in online gambling games. And after the pandemic started to be overcome, offline casinos also opened their business again, which didn't make offline gamblers return to offline casinos because they can find fun playing gambling at online casinos. They may keep returning to offline casinos but also play online gambling.

[LUCKMCFLY]

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.

Well everything in this life can also be treated as a need that is equivalent to having a little luck to solve certain things, and that are obviously one of the best things that are sought in life, obviously some people put all their faith in sports betting, in lotteries and in many things that can cause them a great way to live in an easy way, others only play because they like to play lotteries or sports bettors see it as a hobby, but really in the world those who play the most lotteries is for your life to change, and this is known by the lottery platforms in the world, it is something that is necessary for them.

[Peanutswar]

As long as there's someone would like to support the crypto gambling casino or the casino itself they can sustain their current living. All businesses must need to adapt to the environment, else they don't get in the ride, and the peoples choose if you are out of the trend possibly the users not get entertained this is the main goal of the casino to give satisfaction, I guess in this current crisis they didn't get affected too much instead make another way with the online gambling.

[roslinpl]

It’s enough to know more about the casino and sports betting in the forum itself. Crypto casino was became a part of our life, many people engaged in the crypto casino as a full time job for now. But few people doing this as the short term and for the entertainment. This type of crypto casino should be encouraged as compared to the offline gambling. Because the most possibility to win the game is online casino as compared to the offline gambling. Most of the people still had their good opinion in offline gambling, but the shock one is many of their country will not allow to do of offline gambling.

[Mahanton]

As long as there's someone would like to support the crypto gambling casino or the casino itself they can sustain their current living. All businesses must need to adapt to the environment, else they don't get in the ride, and the peoples choose if you are out of the trend possibly the users not get entertained this is the main goal of the casino to give satisfaction, I guess in this current crisis they didn't get affected too much instead make another way with the online gambling.

Adaptation and be versatile is what a certain business should really do if they do want to last up on this industry.Yes, its hard but its not something that impossible.We know that hardships and challenges
are really always a part of business where you do need to make out adjustments if needed.Lots of things had been closed up their doors on the time on pandemic time plus other economical related
problems which would cause for these businesses to close their doors or totally shut off.As for gambling industry then i dont see for it to be badly affected, yes there are some had
already closed down but most of them did sustain.Why? As long there would be those players or gamblers whom do continue to play then they would really continue to exist.

[harizen]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Can you mention these 2 big gambling platforms?

Do they actually really say that they are decreasing the monthly bonuses because of financial-related problems?

If that is so, isn't it will result in a much worst situation since their users might think that these platforms are not worthy to put trust in anymore as they are close to facing a financial struggle that might lead to closing the platform?

[AmoreJaz]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Can you mention these 2 big gambling platforms?

Do they actually really say that they are decreasing the monthly bonuses because of financial-related problems?

If that is so, isn't it will result in a much worst situation since their users might think that these platforms are not worthy to put trust in anymore as they are close to facing a financial struggle that might lead to closing the platform?

i don't think any casino or business would disclose that they are having financial problems. because for sure, this will create panic or trust issues and may slowly reduce their patrons. they maybe are reducing bonuses  or rewards, but they won't say that they are on the verge of bankruptcy. or maybe, they are allotting other promotional activities to other aspect of their business. who knows?

[goinmerry]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

That is not a way to reduce the cost. Didn't you know that promotions and bonuses do have a wagering requirement and that will lead users to deposit more money just to reach the requirement? Since gambling sometimes resulted in losses, that user is unable to reach the wagering requirement.

Casinos do have advantages on that promotions therefore it's not wise to reduce the cost for that. That's not a wise idea to do to cut expenses.

[_act_]

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.

That is what I have noticed too, but I not do think that should affect bounties and altcoins signature campaign most because new projects at that time would be significantly reduced. I understand you, it is also true that some campaigns will stop advertising at the time too. I am surprised some people are still saying not long ago that there is lack of signature campaign, I do not see anything like reduction in signature campaign because of the pandemic and recently there are many signature campaigns on this forum. This year, the price of bitcoin falled significantly but there has been signature campaigns on this forum on this forum.

[GxSTxV]

One way that online casinos and sports betting platforms may be adjusting to the current situation is by offering promotions and bonuses and running campaigns here in bitcointalk to attract and retain customers. They may also be focusing on expanding their online presence and offering more options for online payment such as bitcoin and other cryptocurrenci, especially with the previous Covid 19 pandemic.
Another way that these casinos may be adapting is by offering new types of games and create their own special games or betting options in order to remain competitive and  bring wider audience. This could include adding virtual sports or esports betting options, for example.

[EarnOnVictor]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Perhaps you are taking this beyond what it is. As you see casinos reducing bonuses is the same way I see some increasing bonuses to win more customers in the competitive market. Companies can increase or reduce offers irrespective of their gains/losses and economic conditions. After all, it's bonuses, and the conditions to win from them are often stringent.

What I'm saying? The global gambling industry doesn't look stressed at all, rather it's growing with an increase of $287.43 billion in 2021 to $456.61 billion in 2022. Those companies might only did as they like.

Source: Global casino

[qwertyup23]

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 do think that they are in the best situation right now as they can take advantage of their platform- which is being exclusively online. They have the upper hand when it comes to this kind of situation since they can take advantage easily of their users in gambling on their own convenience.

Remember that COVID taught us that an online set-up is more productive and manageable. With their current existence primarily online, the convenience of gambling online has skyrocketed ever since. That is why, I doubt they are coping and struggling with the current situation.

[molsewid]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Perhaps you are taking this beyond what it is. As you see casinos reducing bonuses is the same way I see some increasing bonuses to win more customers in the competitive market. Companies can increase or reduce offers irrespective of their gains/losses and economic conditions. After all, it's bonuses, and the conditions to win from them are often stringent.

What I'm saying? The global gambling industry doesn't look stressed at all, rather it's growing with an increase of $287.43 billion in 2021 to $456.61 billion in 2022. Those companies might only did as they like.

Source: Global casino

Yes because giving bonus is somehow to attract more customers or gamblers to switch from one gambling site to their casino. Even though they are giving a lot of bonuses maybe to referral or what still we can say that they are earning more because of this strategy. They can decreases monthly bonuses and make another move by creating bonuses to new players .

[Lida93]

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?

Many businesses were negatively affected by the recent pandemic but am not sure businesses like online casino's and sport betting platforms were that affecti like other businesses. As people were forced to sit at home which made the movement and exchange of goods and services to cripple but casino's and other gambling platforms were rather enjoying what I'll refer to as a sit at home patronage by every gambler through the use of the internet and it was at that period new games were the stimulated football game and others were introduced and bonuses raised to attract attention of more gamblers which showed they were innovating along with the situation brought by the pandemic. Cause many persons who's source of income were halt by the pandemic now saw the online gambling as an alternative source for aide hustling to earn some little bucks which really brought profit to the gambling industry at that period unlike other sectors of the economy.

[xSkylarx]

They usually reduce costs, fewer promotions and lower bonuses for users. For example, two big gambling platforms I usually play have been done this a few months ago. They have decreased monthly bonuses by at least 30%, IIRC. The main issue is both parties suffer from a such decision that should be done to survive in this business mode, IMO.

Perhaps you are taking this beyond what it is. As you see casinos reducing bonuses is the same way I see some increasing bonuses to win more customers in the competitive market. Companies can increase or reduce offers irrespective of their gains/losses and economic conditions. After all, it's bonuses, and the conditions to win from them are often stringent.

What I'm saying? The global gambling industry doesn't look stressed at all, rather it's growing with an increase of $287.43 billion in 2021 to $456.61 billion in 2022. Those companies might only did as they like.

Source: Global casino

Yes because giving bonus is somehow to attract more customers or gamblers to switch from one gambling site to their casino. Even though they are giving a lot of bonuses maybe to referral or what still we can say that they are earning more because of this strategy. They can decreases monthly bonuses and make another move by creating bonuses to new players .

Primarily their bonuses are only focused on new players or newly registered accounts, and it is for them to attract new users. There are only a few bonuses to the existing user. That referral system is one of the bonuses for an existing user that you will get, but you need to persuade people. Also, there are raffles or promos. This is primarily the strategy right now as they need a lot of customers due to the economic situation right now.

[madnessteat]

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 do think that they are in the best situation right now as they can take advantage of their platform- which is being exclusively online. They have the upper hand when it comes to this kind of situation since they can take advantage easily of their users in gambling on their own convenience.

Remember that COVID taught us that an online set-up is more productive and manageable. With their current existence primarily online, the convenience of gambling online has skyrocketed ever since. That is why, I doubt they are coping and struggling with the current situation.

I agree about the fact that the pandemic has increased traffic to online casinos compared to land-based casinos, but still I think it's not the best time even for online casinos due to the fact that inflation in many countries is very high. The governments of these countries are tightening monetary policy and as a result people are spending a lot less money. And according to statistics at a time like this people save the most money on services and entertainment (which includes gambling).

[cabron]

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 do think that they are in the best situation right now as they can take advantage of their platform- which is being exclusively online. They have the upper hand when it comes to this kind of situation since they can take advantage easily of their users in gambling on their own convenience.

Remember that COVID taught us that an online set-up is more productive and manageable. With their current existence primarily online, the convenience of gambling online has skyrocketed ever since. That is why, I doubt they are coping and struggling with the current situation.

I agree about the fact that the pandemic has increased traffic to online casinos compared to land-based casinos, but still I think it's not the best time even for online casinos due to the fact that inflation in many countries is very high. The governments of these countries are tightening monetary policy and as a result people are spending a lot less money. And according to statistics at a time like this people save the most money on services and entertainment (which includes gambling).

We didn't get any reports that crypto casinos are laying off employees however which means they are holding up. The covid that made us stay inside our houses shifted our attention to online stuff and gamblers online I guess increased more with the help of smartphone adoption.

And it will keep growing according to the report.

The global online gambling market is expected grow from $73.42 billion in 2021 to $81.08 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to reach $115.13 billion in 2026 at a CAGR of 9.2%.

[CryptoYar]

I think they are fine, they don't need to do any adjustments.

As from 16 October to 13 November 2022, there was a cricket tournament ( ICC world t20 cup) and cricket is the fifth-most betted-on sport in the world.

After that, FIFA World Cup started ( and I think FIFA is the most betted event)

So in my opinion the sports betting platforms are fine and it can be guessed from their promotion campaigns that they are earning well.

[SirLancelot]

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.

That is what I have noticed too, but I not do think that should affect bounties and altcoins signature campaign most because new projects at that time would be significantly reduced. I understand you, it is also true that some campaigns will stop advertising at the time too. I am surprised some people are still saying not long ago that there is lack of signature campaign, I do not see anything like reduction in signature campaign because of the pandemic and recently there are many signature campaigns on this forum. This year, the price of bitcoin falled significantly but there has been signature campaigns on this forum on this forum.

They don't need to cut the campaign but they can just adjust the pay rates according to the price of BTC. I even think that there are more campaigns that will open because BTC is cheap. Casino owners can buy more BTC and use most of those BTC to reward their promoters.

Gambling places are also going to be in demand because people are looking for ways to multiply their BTC's because its value have gotten smaller and when they lose their BTC, it won't really hurt them as opposed to when its value is expensive. Bounties on the other hand are different because they are only paying with altcoins but mostly in the projects' own tokens.

[Viscore]

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?

I don’t see any casinos in our country that have kept operating during pandemic, all are advise to close and stop their operations temporarily. So definitely, all the employees have stopped from working and have to find other means to gain a living. And AFAIK, those physical casinos that have closed were never seen also operating online, while those who have started as online casinos have continue to operate as if there is no pandemic happening.