Topic: How are Online casino's and sports betting platforms coping? - page 7. (Read 1229 times)

Despite world's financial and economical crisis, gambling industry hasn't been affected negatively. I remember many people were shocked to see during covid-19 pandemic the traffic and income of casinos increased considerably, while we saw on the news the economies of every countries were crashing.

The flux of money in gambling doesn't necessarily follow the flux of our traditional economies. The fact is that there is a very wealthy elite in the world which can maintain any industries they want with their personal funds simply for pleasure, hobby. Gambling is one of them.

if they are affected, i think we will know when they stop some marketing campaigns they are doing.  so far even the fiat base casinos are still in business. the only casino that was more affected since 2020 was the traditional casinos because of the lock downs.

people are getting used to online now. The more people are moving on to online casinos even in the recession time.

You can base the status of the online casino and betting platform based on the number of casinos we have in the announcement thread you seldom see casinos closing down in fact many casinos are launching every month, of course, the weekly budget is so high, the Cryptocurrency casinos are the trend now they will soon beat land-based, and fiat-based online casinos, this is the industry that benefited the most from the pandemic besides the gaming industry.

if a certain business has the capacity to earn more in the next few years they can lend any amount theh think that can help them especially if the casino already establish their name, no doubt about it. online casinos doesn't need a high amount of money just a monthly maintenance, domain fee, security fees etc are needed, they don't need too many people to run an online Casino.

They are coping like just any other business I guess. They all have risk management team that will alert the owners beforehand and in case of any economic downfall that might impact their casino, they do have policies to reduce the damage. In case of physical or online casinos, when the casino reaches its short run shutdown point were the average revenue is below variable cost, they will have to close down their casinos and have no other options. This is more likely to happen with physical casinos since they have higher variable cost than those of online casino.

The truth is that I do not run online casinos or sports betting sites, but one thing that is sure is that they are coping well. This is evident with more betting sites opening every time. Even this year, many had opened already, so it means they are doing well.

However, it is good that you considered the economic situation of the world, but I don't think it would affect gambling sites so much. Some gamblers might only reduce their stakes, yet many will always come to bet because of greed, addiction or the fun they get through it.

To the best of my knowledge everyone is affected with economy downturn and what affects the whole economy is also affecting gambling sections indirectly, just as the case of the covid pandemic where every sport activities where put on hold, no kive events or matches are taking place, so what fo you expect the gamblers to bet on? except for the virtual bets but the people had a rough time throughout the world to find economical balance, gamblers also have a drop in their rate of income from their various businesses.

Are they really adjusting or they are expounding more ? I think they are expounding and reaching out to more families lol. In the past you hardly see this business in some areas. Like in Nigeria it is one of the fastest growing business that youths who are able to get some fund want to establish in betting business and to tell you they are growing here every betting shop is clustered with youths, their clustering is a sign of patronage.

To tell you that they are growing, you see almost all the.signature campaign in the forum are gambling related, this shows it is the business that is gaining patronage. The economic system is really high to maintain and people want to try in other means to get finance and this is why they resort to gambling.

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.

Yes, it's not yet officially over but we're far from the situation during the peak of pandemic. Most casinos locally have already recovered but those places that are reliant to the casino business, they've been closing down and had to halt their operations for the safety of their employees and customers.

There's no problem in online casinos as they've became one of the most productive industries and one business that had became pandemic-proof. But their counterpart, the local casinos, those are the ones that really have struggled.

One moment!!

Casinos closing is normal in this business, new casinos opening is perhaps to the extent of the above, same owners or investors and they reinvest in new projects.

 Now, today! to say that the casinos are doing badly, after two years surpassing historical traffic of the majority of casinos.

 I guess you get it out of your head, or I missed any data or statistics that says that casinos are "fucked".

Crypto casinos, on the other hand, due to their deposit methodology, can be seen at an advantage on comparación traditional casinos, who on average should go through regular channels.

 In fact, crypto casinos have adopted the line of licenses in recent years due to regulatory trends and there is a big difference in investment if it is taken as a normal line in the openings of crypto casinos who, by trend, open without these licenses, then they incorporate them at long time later.

 If that is regulated if we will have a decrease in new casinos and therefore the niche would be affected.

The issue of the price of Bitcoin is an adjustment that alls casinos go through, player traffic is more "dangerous" for a casino than the price of bitcoin itself.

 A casino can have what you (OP) mentioned "the situation" at any time regardless of the price of bitcoin, so "the solución" is player traffic growth by depositing and making wager.

The pandemic is not officially over we still have the pandemic and data and reliable information rate the online casino industry as the industry that skyrockets its profit

Online casinos are still raking in profit because not all land-based casinos are fully operational and some opted to continue to play online especially old gamblers and gamblers with comorbidity the growth and profit will continue as long as the pandemic is still here, the evidence that online casinos are growing is the growing number of online casinos launching almost every week.

As long as there are players, a casino would continue to run. Landbased casinos could be affected by now with regards on their staffs' payroll for sure because they will be somehow required to give them salary increase to help them with their daily living given that there is a price hike with necessities. I am not quite of this one but I have read an article ,here's the link :https://www.frontiersin.org/articles/10.3389/fpsyg.2017.01247/full

It is a conducted study wherein result showed that the effects of economy related problems are not problematic to casinos. There is also a study finding wherein people do more engage with luck based activity during economic recession (probably due to frustration?) which is not a negative part for gambling places. So I think they did not put that much effort on coping with the problem most of us are currently dealing with. Likewise with online gambling wherein if it would be compared to landbased casinos, I think it is needing less of workforce. Feel free to correct me if I'm wrong.

Online casinos don't struggle in the period of bad economy or in the period of universal pentamic like covid-19.
They are the people that gain the more however bad the economy is there are people who are always ready to gamble, they are ready to gamble at any time and they set aside certain percentage of their income for gambling.

Online casinos don't pay some costs like the rent and more, they don't employ high number of people also. They are at advantage.

They've got for sure a lot of pool for their supporting funds. If there's any problem that has been met regards to their budget, there will be something that they'll pull from their company's huge fund pocket.

As you've said, they are big businesses and they've planned all of it and foreseen some ugly things that may meet their business. And if it does, they're all prepared for it so, there's nothing for them to worry about but, as looking to the entire business and industry of gambling, it's one of the industries that are recovering, especially the physical ones.

It's a case-to-case basis when it comes to casinos, but when it comes to the industry, it's doing great in fact online casinos are one of the industries that benefited from the pandemic, people at home and turn to online casinos to get entertain in those trying times, not all casinos are doing great there are casinos that can keep up, they even allocate budget for marketing, it's the small casinos or newly launched casinos that should be coping because the industry is a tough competition for every casino, but casinos who gained the trust of the community will definitely reap the most profit when it comes to gambling trust of the gambling community is very important.  

It's hard to let go of their employees because it might compromise the quality of their service so they have to balance it and I think they are still doing good even on a pandemic.

Online casinos just need to focus more on their promotions and marketing strategy, there are still gambles who are willing to spend more given the economic situation right now, online casinos should take advantage of that. So far there are no news about bankruptcy and taking loans with the casinos, they are pretty solid with their financial planning and budgeting.

I think online casinos have an advantage over offline casinos, where casinos can have fewer employees to manage their business. And before the casino started its business, they must have estimated how much money they would have to spend, including all the expenses that might arise along the way. This also includes advertising costs which sometimes get bigger as new things are added to their casino. By not having a lot of staff, they can reduce the expenses to allocate it to other places, such as advertising. Perhaps this question should be asked of each casino owner so that we know the answer. But I'm not sure they will give a detailed answer.

The mere fact that their services are online is a major advantage for them.
In fact the revenue of such online services has only increased in the recent times because of the ease of convenience.
People are accessing these services right from their home spending a lot on it.
So I think they are doing pretty good at it.

Well i am assuming that hosting highly successfull online casino would take several servers and backup servers and that they are handling those themselves If they don't want to play extra and out source them. Meaning that they would need to rent or buy a warehouse and people to maintain and guards for that.

I totally agree with this on fact when i am not doing so well financially i feel i need More that high risk rush i get from gambling. Not to mention that pandemic drove me to full online gambling because there was no real world places to go .