LATEST GC REPORT 2020 SHOW CASINO INDUSTRY IS BOUNCING BACK.
The casino industry is bouncing back and casino lovers are loving every moment of this remarkable comeback.
The coronavirus pandemic rendered the world economic infrastructure stagnant for a period of time, spanning over 5 months.
However, the improvement in health care and prevention procedures against coronavirus spread, the world is returning to normalcy, and businesses like casinos are beginning to bounce back.
According to the Gambling Commission, the UK version of the American Gaming Association, casinos are bouncing back.
For weeks now, pubs and restaurants around the country have reopened after a lengthy government shutdown, but the closure of casinos is still intact, with government officials ignoring them despite their claims to be ready and plans put in place to adhere to social distancing in casinos throughout the nation.
However, recent reports have confirmed that casinos are set to return and the gambling industry will bounce back after severe revenue loss for the past three months.
Before the coronavirus scare, the figures from the gambling industry were on the rise. Figures from the GC showed gambling surged between April and May even with the lockdown in place.
The survey covered the entire British public and it showed there was a 1% increase in the number of gamblers and casino players in the UK.
When you put the 1% in context, you’ll find out that’s over 650 thousand UK residents. That’s huge!
However, the COVID-19 pandemic has impacted on this figure, and in the heat of lockdown, the figures dwindled.
Data from operators and the commission showed more people gambled on online slot games and casinos during the lockdown.
Between April and May, slot games rose 0.4%, with the same increase experienced in casino games.
The figure has prompted the UK Gambling Commission to implement changes to promote players at this period of slow recovery.
Some of these include the blocking of withdrawal reversals.
Figures showed more players were changing their minds and losing their winnings with reversals up to 25.2%.
To further protect players, operators have been told to contact players who are spending too much time on the slot. A period of 1 hour is recommended for players.
Since the gradual lift of lockdown across the world and in the UK, the Gambling Commission is reporting a dramatic bounce back in the casino industry.
This is because more people are turning to online casinos. According to a blockchain news publication, with millions confined to their homes to limit the spread of coronavirus, people are looking for new ways to keep the mind occupied.
Research has shown that boredom caused by staying at home can lead people to gamble more. Reports have shown that frequent players gambled more during the lockdown.
While the future of physical casinos is in doubt right now, the online casinos are enjoying the high turn up of players.
Frequent casino players and new players are turning to online casinos. We just have to see if online casinos will maintain the same momentum after the lockdown has been lifted.