Will Land-based Casinos Be Replaced by Online Casinos?
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Covid-19 pandemic has changed the way people interact with their loved ones and work. Land-based casinos have been closed for the better half of 2020 due to the lockdown rules in many countries. Dedicated gamblers flocked to online platforms.
Land-based casinos are bringing in more profit than their online counterparts. The growth metrics show quite a different picture, especially in the Asia Pacific region. In previous years, the casino industry was showing huge growth numbers at approximately 10% per year. Nowadays, most optimistic forecasts show that it’s going to be growing at 7%.
Online gambling market is expected to reach $66 billion next year. In Australia, there was a 67% increase in online gambling since the first lockdown was imposed. The growth of business relations and the number of games available don't show signs of stopping. In 2020, just as many new pokies and casino games developed as in the previous years.
After the pandemic, the online gambling industry will grow at a bigger rate than before. The average age of a gambler is around 45 in most countries. This age bracket may be turned off by online casinos. The industry had a much bigger annual growth rate even before the Pandemic struck. It's soon to be said exactly what's going to happen with both industries. However, since the odds are in its favor, it's in the industry's favor.
