Published on: 15 June,2020
Casino stocks face a lethal challenge during the coronavirus pandemic, with Las Vegas, Macao, Atlantic City, and other major venues around the world closing down operations. Even the Indian Nations are getting hit hard, offering no alternative to big city or riverboat gambling. The shutdown could signal bankruptcy for major players , with lodging, gaming, food, entertainment, and liquor sales all drying up.
As we know, since so many people are required or choose to stay at home, the majority of avid gamblers have turned to playing online. The current climate is pushing operators to find ways to maintain their businesses running. Switching to online is one of the best solutions for the current scenario.
At this point in time, online market reach has exploded, as people who don’t normally gamble might see online casinos as a way to fill their free time. Sports betting, which is currently unavailable or highly limited, is now replaced by similar activities such as slots, poker or roulette, which have no relationship to sport, but offer that same feeling induced by all gambling activities – the hope of winning by simply playing games and having fun.
The pandemic has come with numerous side effects, and the land-based gaming industry has been hit hard. On the other hand, online and particularly mobile casino gaming have been taken by storm by avid players during these difficult times. The ease of access made it easier for players to be part of a digital world which is versatile and opens the door to big payouts and unique experiences.
Thanks to the internet, gambling enthusiasts don’t have to leave their homes to gamble. The online gambling industry, unlike its land-based counterparts, has recorded an increase in their clientele population, which simply means that they are earning millions of dollars in revenue every day.
Here are some ideas that we’d like to share, so that you can get the most positive experience while starting your online casino or improving the online gambling services that you already provide.
Since more users from a wider demographic are choosing to switch to online gaming, we can see that the demand for different kind of games is increasing, and operators are constantly working to keep up. Finding a provider that can set up your business fast is an important step that you need to consider if you want to start your gaming business.
During the pandemic, we’ve seen an almost total shift into the digital world. Casino gaming is now dominated by cryptocurrency casinos, online slots, online poker and eSports. We’ve seen a surge in the development of crypto casinos – it’s the fastest way to start a gaming business in countries where cryptocurrencies are not banned or falling under specific laws. Because of the nature of blockchain technology, the cryptocurrency sector was not significantly affected by outside factors.
We’ve seen that bitcoin fluctuated between $9000 and $10000 during the pandemic, making it a good candidate for investment during these times. Additional bitcoin ATMs were installed around the world, while new cryptocurrencies continued to appear. This was all made possible thanks to the increased number of transactions during the pandemic.
Offering the best incentives to players to sign up and play at your casino is one of the best ways to reach new customers. Many online casino operators step up their bonus program game during the pandemic. Promotions and tournaments are also a great way to catch the attention of new players. Offering bonuses is always an effective way to boost clients’ mood and keep them coming back.
Just opening an online casino with good games and interesting bonuses is not always enough for it to become successful. An impeccable marketing strategy is essential if you want to promote your casino to the right audience and reach as many players as possible. Consider creating long-term SEO and PR strategies that will boost your casinos’ dominance on the online gaming scene. Come up with new ideas and choose a marketing team that will promote your casino according to your expectations.
Fortunately for online gaming investors, operators and developers, the coronavirus pandemic didn’t have a highly-negative impact on the online gaming industry. Even if people are coming out of the lockdown, habits have drastically changed, while players are prioritising safety.