How are Online casino's and sports betting platforms coping? - page 5.

Maestro75

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Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

How do you think online casinos and sports betting platforms are adjusting to manage the situation?

People take to gambling when the economy becomes tough like we have everywhere in the country now. They think gambling creates more and easy chances of making money and they go patronising them. There are new casinos and gambling sites springing up everyday and I guess this present hardship helps their businesses.

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Quote from: TimeTeller on November 18, 2022, 05:52:45 PM

Online casinos got their boost in business during the pandemic days.
Just think of new sportsbooks that have been introduced during this period.
We can say, online gambling got their popularity and more players when pandemic hit the world.
That is true, instead of going bankrupt, most of these gambling sites got their good revenue because of increasing popularity of online casinos.
With a lot of advantages offered to gamblers, online gambling is like the new norm to play and place your bets at the comfort of your home.

But in that case it was different. There was a crisis and a downturn in the markets but people stayed at home. And what did they do? In most cases, they ate more and had a lot more online leisure, including gambling. I noticed it in poker because it was like going back 10 years, the rooms were full of fish. Now it is not the same, and gambling is not immune to crises, as shown in the article linked by Davidvictorson

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Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

Here's how this article answers the question - No sector of the gambling industry is immune from the effects of the global recession, research has shown that some are better able to mitigate its effects than others through new technology, innovation, and benefitting from new regulation. In addition, sports betting does better in a recession than casinos because of the high number of global sporting events and the subsequent large volume of public interest globally. The FIFA world cup will starts in 2 days, despite the recession, many people are going to bet and we will see an increase in sports betting revenue.

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Quote from: LUCKMCFLY on November 18, 2022, 05:48:04 PM

Quote from: harizen on November 07, 2022, 07:19:16 PM

Quote from: romero121 on November 05, 2022, 07:42:32 PM

More traditional Casinos too shifted their services online.

I don't think that most traditional casinos shifted their service online during the pandemic.

Instead of doing that, they just accept the fact that can't operate until further notice, and to reduce the cost of the operation, they lay off some of their employees.

If I missed something here, can you give examples of those traditional casinos that shifted their service online just to cope with the financial situation?

Well I understand that the only thing that could have changed is to have more Peronsla because the demand was incredible, in the casinos I know that they increased their way of having more clients, in fact thanks to the pandemic the casinos became even more profitable, because my people were looking for win money in any way, and a very reckless way to do it is to go to casinos and people are so desperate that it worked for some and not for others, I think that what the pandemic did was help much more Since the casinos they came back stronger and much more consistent, I never saw bad changes, just the opposite.

Online casinos got their boost in business during the pandemic days.
Just think of new sportsbooks that have been introduced during this period.
We can say, online gambling got their popularity and more players when pandemic hit the world.
That is true, instead of going bankrupt, most of these gambling sites got their good revenue because of increasing popularity of online casinos.
With a lot of advantages offered to gamblers, online gambling is like the new norm to play and place your bets at the comfort of your home.

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Quote from: harizen on November 07, 2022, 07:19:16 PM

Quote from: romero121 on November 05, 2022, 07:42:32 PM

More traditional Casinos too shifted their services online.

I don't think that most traditional casinos shifted their service online during the pandemic.

Instead of doing that, they just accept the fact that can't operate until further notice, and to reduce the cost of the operation, they lay off some of their employees.

If I missed something here, can you give examples of those traditional casinos that shifted their service online just to cope with the financial situation?

Well I understand that the only thing that could have changed is to have more Peronsla because the demand was incredible, in the casinos I know that they increased their way of having more clients, in fact thanks to the pandemic the casinos became even more profitable, because my people were looking for win money in any way, and a very reckless way to do it is to go to casinos and people are so desperate that it worked for some and not for others, I think that what the pandemic did was help much more Since the casinos they came back stronger and much more consistent, I never saw bad changes, just the opposite.

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Quote from: wxa7115 on November 12, 2022, 12:58:16 AM

Quote from: Baofeng on November 04, 2022, 03:56:55 PM

Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

Business wise, I think everyone is doing good, at least those who are established already. Specially during the pandemic, everyone is just at home in the last couple of years so they are raking big money I assumed. Unlike the traditional and land base casinos who are force to go offline for months even years because of covid-19. So there could be growth in online as players around the world continue to gamble using fiat and crypto based platforms. And you can also observed that there are casinos that pop up during 2020 that still manages to stay in the game.

Without a doubt psychical casinos suffered as I remember the mayor of Las Vegas was not happy with the lockdowns and even when the pandemic was still going strong she wanted to open the economy and obviously the casinos as well.

However online casinos did really well during that time, because as everyone was on their homes without too much to do people that were not interested in gambling before decided to begin to gamble as a way to keep themselves entertained during those difficult times.

On just on simple logic which on the time that pandemic hits then it is really understandable that online casinos were really that relevant on that time or simply they are generating so much revenue considering

that physical online gamblers do really tend to switch up into online on easing up their boredome.We know that there are other industries were affected and gambling industry is one that do take hit badly.
And now that everything is going back to normal where doors are already opening up then they are really back to business.

Gambling industry is profitable but of course it would be depending on how many users you do able to hook up.This is why competition is really fierce for this one.

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Quote from: Baofeng on November 04, 2022, 03:56:55 PM

Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

Business wise, I think everyone is doing good, at least those who are established already. Specially during the pandemic, everyone is just at home in the last couple of years so they are raking big money I assumed. Unlike the traditional and land base casinos who are force to go offline for months even years because of covid-19. So there could be growth in online as players around the world continue to gamble using fiat and crypto based platforms. And you can also observed that there are casinos that pop up during 2020 that still manages to stay in the game.

Without a doubt psychical casinos suffered as I remember the mayor of Las Vegas was not happy with the lockdowns and even when the pandemic was still going strong she wanted to open the economy and obviously the casinos as well.

However online casinos did really well during that time, because as everyone was on their homes without too much to do people that were not interested in gambling before decided to begin to gamble as a way to keep themselves entertained during those difficult times.

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Quote from: Plaguedeath on November 08, 2022, 12:34:29 AM

Quote from: traderethereum on November 07, 2022, 11:30:00 PM

I don't think online casinos have had too much effect because of yesterday's pandemic because they operate over the internet, which has made it easy for them to reduce a lot of costs.

The thing is based on google trends and the other research, many people are really interested with online casino. So this mean even though we're in pandemic or recession, people will want to gamble since they want to make money online instant. That's make them addictive and the house will make a lot money since they're keep losing. I think online casino is really a profitable business since anyone can access and easier than land based casino.

This makes the existence of online casinos increasingly recognized by people, especially people who often gamble in physical casinos that they cannot visit.
And that's what makes online casinos even more popular during the pandemic and can get many new members from many countries.
And slowly, playing online gambling makes them addicted because it can comfort those who cannot leave the house during the pandemic.
Online casinos themselves can reduce the costs incurred if they open a physical casino in one place. With online casinos, casinos can be more popular in many places.

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Quote from: traderethereum on November 07, 2022, 11:30:00 PM

I don't think online casinos have had too much effect because of yesterday's pandemic because they operate over the internet, which has made it easy for them to reduce a lot of costs.

The thing is based on google trends and the other research, many people are really interested with online casino. So this mean even though we're in pandemic or recession, people will want to gamble since they want to make money online instant. That's make them addictive and the house will make a lot money since they're keep losing. I think online casino is really a profitable business since anyone can access and easier than land based casino.

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I don't think online casinos have had too much effect because of yesterday's pandemic because they operate over the internet, which has made it easy for them to reduce a lot of costs.
The online casinos are still doing well, and I think they may not reduce staff because their staff is working from home.
And online casinos have benefited from yesterday's pandemic because many people have to stay home and spend more time working.
This allows people to see many gambling advertisements and makes them try to gamble.

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Quote from: goaldigger on November 05, 2022, 09:12:05 AM

New casinos are still coming and that's an indication that gamblers are still here despite of the threat of a big crisis.
The lifeline of the casinos are the gamblers, this is why many old casinos are doing their best to give bonuses and promotions to those players because if they don't probably that gambler will leave the site and that could affect their income. Casinos in my country are still doing good, top companies still have a good financial report and a profit. Dealing with the economy right now is not easy but they have to do their best to stay in this market and for them to survive the crisis, online casinos should already have plan for this.

There is no big crisis, to begin with for online casinos even during a pandemic. Since people mostly stayed at home, playing gambling is one of their good past time to kill boredom. Only offline casinos experienced a crisis during the pandemic and that is something hard for them to deal with. These casinos literally got closed for years and it's only recently they are catching up on their supposed revenues on the past years.

EDIT

I found these 2 articles that prove that online casinos didn't suffer during the lockdown:

https://www.eehealth.org/blog/2021/01/gambling-and-the-pandemic/

Increased online gambling during a pandemic

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As far as I know, online casino's and sports betting platform that has established their reputation and credibility to their clients and to the community are still doing better in the gambling industry. People have been bored most especially during the peak of the pandemic. Those that can afford to gamble because they have a spare indulged in gambling, while others who just have enough made a pass in gambling during those trying times. I can attest to this because I know personally people who opt to did the scenarios mentioned.

While some of the players prioritized the necessities first, it still doesn't remove the fact that the established gambling platforms still catered to a good market to make them profit and to keep their business running up to date. Right now that there has been more ease on protocols and the pandemic has eventually being resolved by vaccinations and healthy safety guidelines, businesses like gambling casinos are also starting to be better in terms of profit and operation and there's really a little to be concerned about.

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Quote from: romero121 on November 05, 2022, 07:42:32 PM

More traditional Casinos too shifted their services online.

I don't think that most traditional casinos shifted their service online during the pandemic.

Instead of doing that, they just accept the fact that can't operate until further notice, and to reduce the cost of the operation, they lay off some of their employees.

If I missed something here, can you give examples of those traditional casinos that shifted their service online just to cope with the financial situation?

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Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

No matter the situation of the economy, there are some jobs that wouldn't be able to eliminate from the equation since there is money involved. Look at online gambling where they need to have a steady developer who is supposed to handle technical issues, the customer care support must be there to attend to customers, the team responsible for withdrawals and the group responsible for operations, so in conclusion, no matter the situation of the economy, gambling will remain intact as long as the company is operating great.

On the other hand, when they see you as a customer who regularly played and they don't see you again because you lack some change to stake a game, the casino usually encourages their players with a bonus to come back and try their luck, casinos know best how to keep their business running without interruption of some sort.

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Quote from: Casdinyard on November 07, 2022, 05:18:05 PM

Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

I don't think they are the most affected, if affected at all, by inflation and other economic struggles we are experiencing. Casinos and Sports betting platforms are there to take money and from my observation, no matter the economic state of the world some people will always find a way or a reason to gamble. More over, these entities could always find contingencies and sustainable stratagems to employ during recessions and financial breakdowns, I believe they always account for situations like these. So yeah, I don't think they are struggling really, more so coping against the situation.

They arent struggling and if we consider and do look upon on how much they've been earning or speaking out with revenue then it wont really be that much of an issue if we do talk about economic matters.

They wont really be that affected and could simply go with the flow and could sustain as long there are people whom would really be playing on their platform or casinos then it would really be
just that right for them to survive.

In speaking about economic matters and problems then the ones would be affected are specially on some industries but not totally
able to take it down though.

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Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

I don't think they are the most affected, if affected at all, by inflation and other economic struggles we are experiencing. Casinos and Sports betting platforms are there to take money and from my observation, no matter the economic state of the world some people will always find a way or a reason to gamble. More over, these entities could always find contingencies and sustainable stratagems to employ during recessions and financial breakdowns, I believe they always account for situations like these. So yeah, I don't think they are struggling really, more so coping against the situation.

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Quote from: Cryptomultiplier on November 06, 2022, 02:43:20 PM

If other businesses in other sector are finding cheaper but efficient new ways of sustaining their online businesses, I don't see why online casinos or other sports betting platforms won't survive these recession times if they apply new strategies to not only save cost but also maintain a good profit margin.

Well said, as an online casino or or sport betting platforms, there must be an uo to date review and feedbacks on recent progressive achievements with their gambling services they offers gamblers, this willake them take some precautionary measures to see how they can adopt something new to create an effective change they would have wanted every gamblers to experience from their website, this may be demanding but it will also yield a return to them because their gambling services will be so enjoyed to the fullest in limitless plaleasure.

Quote from: Cryptomultiplier on November 06, 2022, 02:43:20 PM

So yea, I think online casinos and sports betting platforms are coping fine. People love to gamble. Mostly in seasons where the worlds known sports like football, basketball, and other tournaments are getting hot. The pandemic really made an online impact for those businesses that had the foresight. Since then, I think online has won on many fronts for most businesses, casinos and other thriving sports betting platforms inclusive.

The truth is that we all love sporting activities together with gambling regardless of money being involved or not but they also have been well hitted also through the impact of the pandemic and current economy situation and are still running fine even though might have realized drop in the rate of thier income flow, but it never stopped their engagements to being committed to their gambling activities offered.

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Quote from: rahmad2nd on November 06, 2022, 10:48:08 AM

Quote from: Rruchi man on November 04, 2022, 03:53:00 PM

Online casinos and sports betting platforms are big businesses like we all know, and currently considering the economic situation of things around the world many businesses are affected and have been taking measures to cut costs in terms of reducing staff, taking loans etc to still be able to sustain operations. How do you think online casinos and sports betting platforms are adjusting to manage the situation?

Actually I'm not too sure, but it seems that online casinos don't require too much maintenance costs like land-based casinos. as well as the people they employ, I don't know for sure. however, it seems that online casinos don't involve as many workers as we see in land-based casinos. maybe on a smaller scale when compared to land-based casinos.

yes, as you said. many companies are affected by the situation that occurs in the world economy, not to mention businesses engaged in the entertainment sector. including the gambling industry that has been affected, especially land-based casinos after the COVID-19 virus and after the collapse of the world economy.

however, it seems that online-based businesses are not as impacted as you ask in this thread.
Again, we don't know for sure, but it looks like the online casino industry isn't too affected by what's happening in the world economy. actually we can look for the data and statistical information if we need it. So in conclusion, the online casino industry is not as heavily impacted as an industry that operates in the real world.

Operational and maintenance costs of land-based casinos far outweighs online casinos. Still, Online casinos are affected the by the economic situation but that much compared to offline businesses. I guess, in some way online gambling platform can easily cope up with the economic situation we are experiencing especially during the pandemic. As most offline gamblers has transitioned unto playing online instead to avoid physical contact.

Probably, most online gambling casinos are doing fine and haven't made any drastic measure as to reducing workforce.

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If other businesses in other sector are finding cheaper but efficient new ways of sustaining their online businesses, I don't see why online casinos or other sports betting platforms won't survive these recession times if they apply new strategies to not only save cost but also maintain a good profit margin.
So yea, I think online casinos and sports betting platforms are coping fine. People love to gamble. Mostly in seasons where the worlds known sports like football, basketball, and other tournaments are getting hot. The pandemic really made an online impact for those businesses that had the foresight. Since then, I think online has won on many fronts for most businesses, casinos and other thriving sports betting platforms inclusive.

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Quote from: Jawhead999 on November 06, 2022, 04:53:13 AM

Online casinos spend lower operational cost rather than offline casinos, but of course macro economy problem will affect their profit. I think it's not surprising for business to take a loan, reducing their staff or reduce their salary in order to maintain their business. If they can't maintain their performance on this situation, they will bankrupt and it's easier than offline casinos. They can just create new casino after they have enough money when the economy already recovered.

This is right. Online casinos has lower payroll for there staff since they are just using 3rd party game softwares on all there games. They are just paying minimal employee for support, security and devs to maintain the casino and its not that high operating cost compared to physical casino that has other bills and employees to attend lots of physical work.

I believe casino profit will decrease but not that much since gamblers will always find there way ro find money and most whales players on gambling is super rich in real life that can sustain gambling activities despite recession.

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