The Effects of COVID-19 on the Global Gambling Market and Future Predictions

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Most economists expect the effects of Covid-19 will be curtailed by containment and vaccination which will lead to a revival in global growth starting in the second quarter of 2021.  The downturn has led to rapid adjustment as organisations adapt across all markets, with home working now expected to rise five-fold relative to 2019 levels, increasing leisure time.

During 2020, brick-and-mortar casinos were shuttered, and sportsbooks suffered from cancellations and postponement of major sporting events. Simultaneously, according to research by blackjackonlinecasinos.net, online casinos recorded an increase in demand from individuals under stay-at-home orders. With Euro 2020 and the 2020 Tokyo Olympics will also aid recovery when they take place in 2021.

The global gambling market is expected to recover financially through meeting pent-up demand, and through the efforts of governments and central banks to resist the downturn, including keeping unemployment levels low. In addition, around one-third of those who have tried gambling for the first time during the pandemic are expected to continue playing into the future. Between 2020 and 2027, the global gambling market is forecast to grow at a CAGR of 11.5 per cent, mostly online.

The effects of Covid-19 on Global Gambling Market infographic

Click on the infographic to view the interactive version (via BlackjackOnlineCasinos.net)

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