We couldn’t deny the catastrophic effects of the coronavirus plague on the world. The pandemic has halted many activities such as travel and leisure and human mobility has been reduced as the general public has to comply with the mandatory border closures to curb the viral plague.
The economic decline has impacted all industries but there is no market that has been affected the most by the epidemic than the travel and hospitality industry. Among these is the gambling sector where prior to the pandemic has established a billion-dollar global revenue.
This article dissects the journey of the casino industry through this pandemic period from its sudden decline to its resurgence.
Gambling in pre-pandemic era
Prior to the pandemic, casinos were thriving everywhere in the world. The world is even divided between the two epicenters of gambling activity; Las Vegas in the West and Macau in the East. Both gambling destinations have provided the industry a significant amount of revenue that is sometimes unimaginable to achieve.
Other gambling destinations such as Atlantic City, Monte Carlo, Marina Bay Sands in Singapore and London, have received a lot of visitors regularly making them a treasured tourist spot. The amount of people visiting these places are an indicator that gambling is a thriving market.
Effects of mandatory lockdowns and limited mobility
When the initial outbreaks began during the first few weeks of the pandemic, most governments didn’t take these matters seriously, however, when the infections spread like wildfire, the world governments didn’t have a choice but to enforce a mandatory lockdown.
The closure of major borders and limited mobility has caused many businesses to close, in fear of bankruptcy. Many land-based casinos are forced to halt their operations until further notice. Thousands of casino employees have lost their jobs, while people are forced to stay inside their houses.
The rise of online betting in pandemic world
The idea of one’s loss is another’s gain holds true when it comes to many businesses in the world.
The sudden decline in business operations of travel, leisure, dining, entertainment and gaming industries has led to the rise of other industries such as logistics, content creation, digital marketing, online markets and online gaming, all of which does not require prolonged human contact.
The loss of land-based casinos is the gain of online gambling. Now that many people are forced to stay inside, many sports bettors who are used to seeing a live sporting event are now forced to bet in online casino games.
A glimmer of hope
By the start of 2021, the world has sought a glimmer of hope in the discovery of coronavirus vaccines. Many vaccination programs are now ongoing and the slow ease of restrictions started. Many businesses finally reopen after many months of closure.
The sudden decline of coronavirus cases has now prompted many governments to reopen the economy by easing the restrictions. Many casinos are now preparing to reopen as a result of these reduction of limitations to the business operations.
Huge comeback
Now that many casinos are set to resume their operations, the gamblers who have been deprived of on-site betting activities can now come out in hiding and start to wager.
One gambling destination in particular, bk8 Macau has skyrocketed gambling revenue with the reopening of its gambling establishments. The easing of travel restrictions also evoked new hope and renewed interest in the gambling hub.
Final thoughts
The pandemic is far from over but it is certainly running its course and small changes like this are helpful to encourage people to renew their interests in betting activities. The main lesson that we might take from this global crisis is that we can now appreciate more what we have.
