COVID-19 Has Disrupted The World Including The iGaming IndustryPublished April 6, 2020 by Sol FH
Coronavirus is hurting everything and online gaming has taken a heavy hit too.
It is virtually impossible not to hear something about COVID-19 during today's uncertain times. The Coronavirus pandemic has taken thousands of human lives and has disrupted virtually every industry on earth. The number of infected people continues to rise daily and harsher quarantine restrictions are certainly coming.
Las Vegas has become a ghost town with all hotels and casinos ceasing operations to help combat Coronavirus spreading. There are countless pictures of the Las Vegas strip, darkened for the first time since it sprung up from the desert, which gives an eerie apocalyptical feeling.
It's not only brick and mortar casinos that are feeling the burn, as online operators are also trying to stay afloat in uncharted waters.
Coronavirus and Gaming Industry
All conferences and special events that relate to online gaming have been postponed or canceled. These conferences are the places where many deals are made and new partnerships are forged. Analysts have already predicted that missing these annual events will negatively impact the growth potential of the gaming industry in the near future.
The Online Sports Gambling industry has been crippled. There are virtually no sports being played on the planet earth right now, which has left punters without betting options. Some online bookmakers have even closed up shop to focus on their online casino offering, in the event that they have one.
Different jurisdictions are dealing with online gambling during the pandemic differently. Latvia was all over the news recently, as the government announced that it was considering a ban of online gambling during the pandemic but operators have threatened to sue, which could cost the country a ton of money. Latvia may have its citizen's best intentions in mind with this decision so they don't spend resources on gambling instead of food or medicine in the event that things get even more complex.