Online Gambling to Grow in US After Pandemic
US Online Gambling is set to take off when the COVID-19 pandemic is finally over.
Coronavirus has brought the gambling industry to a shuddering halt. However, the Sports Betting Community (SBC) is banking on a surge in demand for the expansion of online gambling options in the United States after the COVID-19 outbreak abates. Players are currently flocking to online casinos due to land-based properties being shut. SBC’s managing director Andrew McCarron firmly believes there will be a boost to the online betting world when the crisis eventually subsides. McCarron is preparing for an SBC sponsored Digital Summit, which is taking place next week, from April 27 to May 1.
The SBC Digital Summit will feature panel discussions on a variety of gambling issues across the US. These include sports betting, online casinos, and slots. There are around 10,000 people expected to turn up to the event, making it the largest conference on online gambling. There will be over 140 speakers, all of whom are involved in the gambling industry.
It is believed within the industry that individual states that have banned online gambling and gambling firms with no online presence are feeling the pinch revenue-wise. Land-based casino players who reside in states where online gambling is illegal, now have no option to play due to casino closures. Many of these players from these states could now be tempted to turn to unlicensed online gambling operators and expose themselves to risk. It is felt if these states could ease their regulations, even temporarily, revenues would go up, and players would face less risk.
The pandemic has encouraged many players who are at home to try online gambling, in many cases for the first time. McCarron believes that even when things return to normal, many of these players will continue to come back to online casinos. States need to be prepared for how gambling habits will have changed once normality resumes. Online offerings will need to be up-to-date, and casinos will need to recognize this.
Poker & eSports Come to the Fore
During the Digital Summit, the panel will discuss the future of online poker, and whether it can emerge as a winner due to the lack of sports betting markets. The group will also look at how online casinos are dealing with the increased demand due to brick and mortar casinos being shut.
One of the critical topics of the summit will be the emergence of betting markets on virtual sports and eSports. The latest developments on the different states sports wagering legislations will also be on the list. This is set to be a hot topic, as many are struggling for revenues, and there are growing voices that online gambling can be the answer.
McCarron is optimistic about the legalization of virtual sports and eSports. He noted that many sportsbooks are attaining success in the current market by seizing the initiative on such events. They are providing sports bettors with wagers while mainstream sports events are all currently on hold. The online Digital Summit will provide a venue for operators to learn from these operators out in front.
The issues of problem gambling and addiction will also be discussed in the Digital Summit. There has been a surge in online gambling due to COVID-19. With that, it also comes with greater responsibilities for operators to make sure that they are capitalizing on the fear and boredom of vulnerable players.
Come and follow us over on Twitter @Gamble_usa for more legal sports betting news across the US.
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