How Has the COVID-19 Pandemic Affected Online Gambling
As gambling shops closed across the world amidst the rise in COVID-19 restrictions, many people shifted to online gambling. The global online gambling market is expected to grow from $64.13 billion in 2020 to $72.02 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%, according to the Global Online Gambling Market Report (2021 to 2030). Not only was there a growth in experienced gamblers transferring to online platforms but there was also an influx of new customers who decided to use the free time that lockdown had afforded them by signing up to online gambling websites, with statistics showing online gamblers spending an average of 6.6 hours a week on online betting websites.
Since the start of the pandemic, many online gambling platforms have reported a clear increase in player engagement, and a number have reached new highs. Overall, the online gambling industry has been one of the few that has seen positive growth as a result of the pandemic. But now that countries are relaxing restrictions and recovery from the pandemic is looking positive, where does this leave the online gambling industry today and what can we expect in 2022?
Will online gambling remain popular post-COVID?
As we’ve seen with many industries, the COVID-19 pandemic has changed the ways we interact, both in and out of the workplace. A continued reluctance to enter physical premises and the discovery of the ease of gambling online makes it unlikely that people will patronage betting shops as regularly as they did in pre-pandemic times.
The reopening of Casinos, however, is a different story as many seasoned casino goers will be excited to get back to the poker tables and slot machines. But this doesn’t mean that people will abandon online gambling sites. The ease of access and diversity of the games that people can play will continue to be attractive to those customers that became online gambling players during COVID restrictions.
What is also worth noting is the return of sports fixtures and events around the world. With restrictions and lockdowns causing matches and competitions to be postponed, sports betting companies took a massive blow during 2020. But with the return of competitions like the English football Premier League and horse racing events like Royal Ascot, sports betting companies will have seen a resurgence in bets over 2021 and is something that is predicted to return to pre-covid levels in 2022.
As the global online market report highlighted, betting companies that run Online Casinos have done well during the COVID-19 pandemic but those that struggled over the past year, like sports betting companies, are expected to return to the levels of growth they saw pre-pandemic. All of this suggests a very positive outlook for the future of online gambling.
If you are considering getting involved or are already an online gambling enthusiast, the security of your funds and the ease of withdrawing your winnings will be of paramount importance. You need to give careful consideration to how to fund and potentially benefit from your activities. Using a credit or debit card exposes your cards to sophisticated hackers looking to harvest such data. A much more secure and convenient solution is to use an e-payment wallet, such as STICPAY, that also provides benefits such as offering cashback on transactions.
Earn rewards with STICPAY Cashback
STICPAY Cashback provides cashback of up to 10% when using one of their partner sites and the cash is deposited straight into your STICPAY e-wallet account.
STICPAY Online Gaming Cashback offers:
Convenience- There is no registration needed for existing STICPAY users.
Safety- STICPAY is a licensed E-wallet payment provider operating to global standards. The cashback service is operated by trusted merchants for added security.
Reliability- STICPAY pays the cashback directly to the client’s account. It provides a hassle-free cashback process that automatically tops up your STICPAY account every month.
A growing list of partners- Many new qualified Online Gaming partners are being
added to the list continuously, providing a range of cashback rewards opportunities.
What is STICPAY?
STICPAY is an e-wallet that provides the perfect payment solution for funding online betting accounts. STICPAY combines the benefits of traditional payment methods with online betting payment systems. E-wallet services offer a wide range of benefits and fast-speed for users to fund their accounts and withdraw money.
STICPAY is an excellent choice when betting online. To get started, you must create an account, which only takes a few minutes.
Are you ready to fund your online gambling account with STICPAY? Create an account now!
Originally published at https://www.sticpay.com on September 3, 2021.
