In the UK, the searches for online casinos reached an all-time high during the early phase of lockdown
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As the pandemic forced everyone to stay locked in their homes, many people moved online looking for entertainment. Amidst the Covid-19 lockdown, the searches for online betting witnessed a huge spike according to Google Trends.
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In the UK, the searches for online casinos reached an all-time high during the early phase of lockdown. The physical betting shops remained closed in countries like the UK and Australia. This, coupled with the closure of sports events prompted bettors to find online alternatives for betting.
In Australia, online gambling increased by 67% during April 2020, according to a joint study by Illion and AlphaBeta. In America, on the other hand, the use of online casino sites increased by 43% as revealed by online social poker room, Global Poker.
Since online betting is unregulated in India, it is quite challenging to measure the size of the market and industry at large. However, a study conducted by Baazi King estimates the worth of the online betting industry in India at $30 billion. Mr. Ajay Singh states that “the growing number of smartphone users and affordable data plans in India are some of the driving factors behind this growth.”
The lockdown and the subsequent months during covid-19 witnessed an increase in the number of users in India signing up on online betting sites. It was also the time when many online bookmakers localized their websites to fit the needs of Indian bettors. Support for Indian currency, local payment methods, and promotions such as free bets and welcome bonuses were offered across all leading betting sites in India.
Sports betting took a hit during the early days of lockdown since almost all sports were cancelled or postponed due to the pandemic. However, betting sites had many other products to offer the isolated and bored bettor. Blackjack, Roulette, Teen Patti, and many other live dealer and casino games grew in popularity during the covid-19 lockdown.
Entain, the owner of Ladbrokes, one of the leading bookmakers in the UK, witnessed an 11% rise in its core earnings to $1.19 billion in 2020. $1.11 billion of these earnings was brought in by a 50% increase in its online betting offerings. This example is a case in point which indicates the returns reaped by bookmakers due to the growth in online betting during covid-19.
There was a constant uncertainty around sports ever since the pandemic started. The need to run their online betting shops despite the uncertainties around sports prompted bookmakers to offer innovative solutions. Simulated Reality Leagues is one such innovation which grew in popularity in the last one year.
Punters don’t need to wait for their favorite sports league to bet on it. They can find a wide range of betting markets and odds for leagues such as IPL or BBL, for example even before the actual tournament has begun. Many bettors in India have found the simulated matches to be an equally thrilling event to bet on. The popular Indian casino game, Teen Patti also witnessed an innovation as the gaming provider EZugi introduced a ‘one-day’ version of it.
While Covid-19 has definitely affected online betting, bookmakers have now learned many valuable lessons that will drive the further growth in online betting in the coming years.
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