1 July 2021 – Due to COVID-19, all sports and gambling are on the brink of closure. It is because the casinos are forced to close because of the rules and regulations of COVID. The betting industry is in a mess right now because there’s very little remaining to bet with closed doors.
The restrictions for online gambling are eased now, which made gamblers discover its advantages. After that, they found out that there’s a lot to find out in the world of online casinos.
The online industry of casinos is offering a very competitive platform to gamblers. They are also giving away bonuses, boosts, and free plays to the new players. Location is no longer the hurdle for players to gamble just because of online casinos, and they can play their favorite gambling sport in the comfort of their homes.
The CEO of Zamedia N.V, Erik King, said that people who are working in the casino industry are worried because of the uncertainty of the lockdown. Then we have seen many people start playing their favorite betting sport online, and the traffic surge starts to increase day by day.
Erik King also said that this trend has not only become popular in North America but all around the globe.
He stated that the traffic on our products, i.e., Casinofinder.io and Zamsino, have increased dramatically with the highest number till that date. Even though the restrictions of COVID have been eased, the analysis of the data suggests that the popularity of the online casino increased in that time, which allowed the casinos to continue their online platform.
According to Erik King, they have seen interest in KiwiSlots by the people of Australia and New Zealand. The point to ponder is these regions are not much affected by the restrictions of Lockdown, but the popularity of gambling also increased in these areas.
According to the earnings report of this year’s quarter 1, the valuation of DraftKings CEO Jason Robins has been increased from $39 billion to $62 billion in the US gambling market. If you add $5 billion of the emerging Canadian market to this valuation, the final number will jump to $67 billion. After this announcement of DraftKings’ increased valuation, it can be seen that iGaming can easily beat the gambling sport in terms of revenue. During their presentation, these numbers are broken down according to their respective platforms as iGaming is generating $40 billion and betting sport $22 billion revenue.
Some people confuse iGaming with some form of online gambling. They think that Casino games, betting sport, virtual slot machines, and poker rooms are the types of iGaming. But after the breakdown of Draftkings valuation, it is crystal clear that iGaming options are different from sports betting with an attractive prize.
If we see the pre-pandemic Nevada casino gaming revenue report from October 2018, the net revenue was $ 1.062 billion, and sports betting has only a share of less than 3%, which is $ 29.5 million.
As compared to other casino games, the revenue margin is very low in sports betting. This is the reason that blackjack and slot machines are way more profitable for gamblers. For example, if you gamble $100 on blackjack, you will get your results in no time. On the other hand, a $100 bet on a football match will make you wait for hours to get results.
That is why in mature European markets, in-game betting is so popular. More and more brands are promoting this betting because players start to roll over their winnings once they win a bet.
In North American Sports, sportsbook operators and official league data providers are making partnerships with each other to improve the in-game betting experience. It is not a surprise that these partnerships are being struck by casino Technology developers.
Legislators are using these taxable revenues as the driving factor to legalize sports betting. That’s why you cannot ignore a big Dollar sign found in the online casino space.