The unexpected Covid-19 outbreak turned 2020 upside down. Over four million people caught the coronavirus globally, and the numbers increase every day.
Authorities are promoting social distancing to stop the disease from spreading, which is affecting the economy. Obviously, the gambling industry would feel the impact of these changes. So, how is the gambling industry being affected in Covid-19 in Poland?
Land-based Casinos Are Suffering
With laws that ban people from going to crowded places, land-based casinos suffered a pretty hard hit. The most apparent change that happened in land-based casinos is that their revenue went down abruptly. Worldwide, the gambling industry expects to suffer an 18.6% revenue hit this year.
The situation is not different in Poland. Century Casinos, a prominent gambling operator in the country, for example, has decided to shut down all of its businesses in the country temporarily.
At the moment, it’s hard to precise when casinos will be open again. Even if they’re able to operate soon, there another issue: people may be too afraid to visit them. They may choose to play online games in the comfort of their homes instead.
In the long-term outlook, some of these casinos may end up going out of business. Others may migrate to online gambling as a way to save their business. With the overall downtrend in the global economy, casinos that are not robust may not survive.
Online Casinos Are Thriving
Fortunately, not everything is bad news for the gambling industry. People who love to gamble still want to do it, and online gambling is an excellent option. In fact, online gambling is booming during this time of isolation.
Eliasz Nowak, an expert in the casino industry, affirms that online casinos are experiencing the opposite effect when compared to their land-based counterparts. In his opinion, this is their chance to grow.
Even small and medium-sized casinos may see an increase in demand. So, despite how crowded the market is right now, there’s space for new players. Also, land-based casinos that also have online sites or are about to launch them may find this new revenue will help them survive these difficult times.
Specialized casinos, like the ones that focus on poker, bingo online, or slots, may also get a chance for success in 2020. Many new customers will appear to use online gambling as a way to pass the time, and they may enjoy these popular niches.
Online Sports Betting Was Affected, But It’s Resisting
With so many closed betting bookies in Poland, how are sports betting faring? The truth is that this kind of activity is struggling. Sports betting, unlike online casinos, need sports. With sports cancelled, it’s hard to run a business successfully.
It means that the revenue of most online bookies went down, an experience that is very different from what is happening in most online casinos. Most closed betting bookies are shutting down their physical shops and offering services only online.
Fortunately, some of these businesses are resisting well. People can still bet on virtual sports like Counter-Strike, Fortnite, and others. Esports can be played from home. So, there’s no need to cancel them. This and sports from countries that did not shut down their events entirely may be a way for the industry to survive through this trying time.
The world is undoubtedly changing. Online gambling companies can grow in this context, but it’s hard for traditional operators. In the future, however, most of these businesses will be up and running again, despite huge losses in 2020 and possibly in 2021 as well.