In the first half of 2020, online gambling and betting activities made a gross revenue of 138.9 million euros. The numbers show a significant increase of 44.9% compared to the revenue made in the first half of 2019.
Number of punters rose 26%
In addition to the increase in betting volume for the second quarter of this year, the SRIJ report also shows an increase of 26% in the same period of 2019. Most players are found to be interested in two categories, casual games, and sports betting.
Mandatory confinement and the forced lay-off were important factors in the rise of new online gamblers. Many people saw the potential of online gambling and betting as a form of entertainment and an opportunity to earn extra money, considering that many have suddenly had much time to spare due to factors resulting from the COVID-19 issue.
More so, the diversity of offers and the bonuses that many bookmakers and gaming portals give to new registrants have helped in the growth of online gamblers during confinement.
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Online sports betting: breaks in April, signs of recovery in May and June
In sports betting, local and international sports events have been put to a halt during the peak of the lockdown (March to June). This halt has had a negative impact on the betting industry and caused them to lose a lot of money in the process.
In January and February of this year, online sports betting value is almost the same as the values recorded in the same period of 2019. Come March, there was a significant decrease in the volume of online sports betting compared to last year. Slow recovery had been shown in May when some sports competitions had been allowed.
While the sports betting industry had been greatly impacted by the issue of COVID-19, there’s a great chance of recovery and healing in the months and years ahead. Considering the people’s love for games, there’s no denying that recovery will be achieved sooner than later. And while online gambling has increased its number of players, and with the reopening of some casinos, the chance of balancing the economy is still greater than falling into a great depression.