It has been almost two years, all of us are battling pandemic due to Covid-19. Socio-economic and political scenarios have changed, and it will not be wrong to say that it is in doldrums. It will take quite a few years before things get back to normal.
Key factors that have given rise to online gaming and gambling.
Check out the points below-
- The fact that most of the sporting complexes, event venues, and gaming centers have shut down their shutters due to the pandemic has caused a surge in the popularity and demand for online sports and gaming. In fact, the entire sporting scenario has changed the world over.
- Experts are fearing that due to boredom, loss of jobs, pay cuts, stress, and anxiety, more and more people are turning towards gambling and flocking to online slot machines with the hope of earning the best casino bonus rewards so that the ones that are battling financial crisis can use the proceeds as a means to fulfill at least some of the financial obligations.
However, experts are worried because in quest of financial relief, being glued to the slot machines must not become an addiction.
- But there is light at the end of the tunnel. A representative of Betting and Gaming Council revealed to CNBC that the overall problem gambling rate for the last 20 years has been stable at 0.5%. As such, it must not be a cause for concern.
More and more gaming companies in United Kingdom are striving hard to focus on their online offerings since lockdown has paralyzed physical gaming and betting shops.
As such, even formula one racing, horse racing, and marathons have been suspended due to the pandemic. However, online betting has seen a surge ever since Covid-19 took the nations across the globe by storm.
This is further established due to the fact that companies like Ladbrokes owner Entain, which is listed on FTSE-100 witnessed a remarkable rise in their core earnings by 11% recording £843.1 million equivalent to $1.19 billion in 2020. Out of which £803.5 million was earned from online offerings in gambling, this is almost a 50% surge.
Other firms like 888 Holdings, Gamesys, and Rank Group have performed remarkably since the pandemic.
Interestingly, Denise Coates, the CEO of Bet365 documented pay packet (annual) of £469 million the previous year, which has gone down as the highest ever in the corporate history of Britain.
According to The Gambling Commission, which is the regulatory body in United Kingdom, revealed that fewer people were gambling during the ongoing pandemic. However, the ones that were already into gaming are diverting their focus on new activities and have their attention on money betting.
The regulatory body also found that individuals that were engaged in a greater number of gambling activities and indulged in variety as far as online gaming is concerned stand a higher risk of “problem gambling”.
However, every online gaming company allows individuals to dissociate themselves the moment they realize that it is becoming an addiction and might harm mental stability.
As such, as far as you are aware of where to draw the line, chasing dreams in pursuit of earning the best casino bonus should not be a problem at all.