Impact Of Coronavirus Pandemic On IGaming Industry

It would seem difficult to imagine an industry that has not been affected by the coronavirus pandemic - many bars, restaurants, cinemas, land-based casinos and lottery venues have been closed for months. However, Internet-based businesses have demonstrated their readiness for challenges such as the COVID-19 pandemic. Thus, the iGaming industry has continued to grow.

As people were forced to avoid social activity during the lockdown, this led to an increase in Internet traffic in all directions. According to Global Poker, the growth in the number of poker players since the start of the pandemic has been 255%. The growth of the online casino industry, driven by the closure of land-based gambling establishments, was 115% between May and June 2020. Although growth rates have not been sustained in recent months - as many land-based casinos and betting points have opened - online casinos have managed to significantly expand their user base.

At the end of 2020, the value of the global iGaming market was about $ 70 billion, which is an absolute record. According to experts, in 2027 the expected figures will reach $ 127 billion with an average annual growth rate of 11.5%. These impressive numbers suggest that the industry will attract even more investors.

Although the online casino boom is due thousands of sports betting players have switched to casino betting, there is not a large churn of users even with the return of many sports events. According to experts, the success of iGaming is largely due to the timely transition of many platforms to mobile gambling.