On the other hand, some industries managed to grow and expand during that time including the world of online casinos and online gambling. In a recent study that was done in Canada on the online gambling industry studies showed that online casinos grew by about 30%. So, what helped contribute to such an increase and how does look today?
How it all began?
Back at the start of 2020 no one would have predicted the type of year the entire would experience for the year to come. However, in March of 2020 the world began to understand there was a global pandemic taking place as countries around the world saw an increase in sick people. Many countries eventually became overwhelmed, and hospitals could no longer keep up with the number of sick people. Some of the measures taken to stop the spread of the virus here in Canada was to force people to stay home in order to reduce the spread of the virus. While Canadians were home going stir crazy, many were looking for new ways to pass the time and get a little joy and excitement anyway they could. That’s were online casino started to reap the benefits of the current situation.
Around the time people were being told to stay home and places that served the public began to close online casinos began to see an increase in new players. Around the second quarter of 2020 online casinos in Canada and around the world began to see an increase in new player registrations. Casual gamblers and people looking for fun and exciting ways to pass the time began to turn to online casinos as a way to pass the time.
In some cases, these included gamblers who were used to playing at their local land-based casinos however many of these new players were casual gamblers. Not only did online casinos see an increase in new players they also saw an increase in spending as more people were now online gambling. Many online casinos reported an overall increase in deposits of around 30 to 40%. This marketed a huge jump from the same period the year before.
Increase in numbers eventually levels off
Back when the world was still trying to understand what was happening and how long it would last many people were spending like usual. The significant increase online casinos reported would eventually begin to go down in the months that followed. This was mostly due to the fact people began to understand it may take some time until the world gets back to normal. Further to this many people began to lose their jobs or were placed on unpaid leave. As money became tight and people started saving more gambling budgets decreased and less money was being deposited. This would lead to drop in deposits and new players registrations.
Life begins to return back to normal
With news of vaccinations on the way the world had hope that things would eventually return to normal. In the months that followed since this was announced many countries began to rollout vaccines. Although some would argue that Canada has been slower to organize enough vaccines for everyone it now seems the country is headed back to normal. More and more Canadians across the country have begun receiving their first dose of one of the few vaccine options available.
At the current rate Canada expects to complete the process by the end of the year. Some provinces have already started looking at how the country will exit from lockdown and start getting back to normal again. Provinces like Quebec are already started to plan for the upcoming summer schedule with a return of open-air festivals and restaurants and bars as well. This will also include the reopening of land-based casinos which will be able to receive players once again although it may require some small changes like more spacing between players and some restrictions on how many gamblers can be inside at the same time.
As people return to work and players have more disposable income at the ready, online casinos are now seeing numbers that resemble pre-pandemic figures. Specifically in new player registrations and player deposits. With the addition of sports coming back including one of soccer’s biggest events the Euro Cup and the return of the summer Olympics both of which were scheduled to take place last year. This will have a big impact on the world of sports betting and should help online casino see an increase in these gambling related sectors.
Although it’s been a crazy year it now seems like we can finally see the light at the end of the tunnel. Canadian gamblers can now look forward to returning to land-based casinos. While this is great news, we also expect online casinos to enjoy some success as well as more people return to work and have more disposable income to allow themselves to play and gamble like they used to prior the start of the Covid-19 pandemic.
We look forward to having all this behind us and look forward to what the rest of the year and 2022 will have in store for us and the rest of the gambling community in Canada. For more articles like this be sure to visit us often for the latest in online casino and gambling news.