No casino has suffered even during the pandemic let alone now that we are almost completely out of it.The gamblers will always play,they have a set bankroll most of the time,like I already have and will use that balance to play in the casino of their choice,this is never going to change and that is why the booming of online casinos in these last years has always been on the grow.
The cut of cost of employees is not so relevant to online casinos as they need a fixed number of support staff and they barely change,add or remove new ones,except when it is really needed.So far I don't know any big lay offs like Musk did on Twitter to happen on any big casino.
Topic: How are Online casino's and sports betting platforms coping? - page 8. (Read 1292 times)
On the contrary, I think online casino's did fairly good in the pandemic era. So I doubt that there are layoffs or employee reducing, on the other hand, they could be expanding as we have seen a lot of casino just popping out in the last 2 years here in the community.
So I will say that they are doing good and still making good money from the gamblers not only here in our community.
Let me quote this website: https://cryptonews.com/news/best-bitcoin-gambling-sites.htm
So I will say that they are doing good and still making good money from the gamblers not only here in our community.
Let me quote this website: https://cryptonews.com/news/best-bitcoin-gambling-sites.htm
Quote
Casino gaming and sporrts betting has maintained remarkable growth despite slowing global economic trends. According to an industry report, the global online gambling market size will reach $19.16 billion by 2027, up from $13.1 billion in 2020, representing a 5.5% compound annual growth rate (CAGR) over a seven-year period.
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 feel like gambling is always a strong business during turbulent times, when the world is in crisis people are looking for a way out. With gambling we have the chance to become rich quickly, even when we lost our job or things are not looking food anymore. It seems that people are more willing to save money in other aspects in life, rather than stepping down from gambling. In the last few weeks I noticed this in my country, everybody is playing lottery lately. Even people who haven't played lottery before are now in the gambling fever and play every week. We are seeing new jackpots every months and many people talk about gambling publicly. This should mean that business wise casino are doing fine. The sports betting platforms are getting ready for the worldcup, which will start in 3 weeks and is bringing in a lot of new business. I wouldn't expect bookmakers to reduce any staff before Christmas. Same goes for the casinos, they likely have some special promotions and advertising planned for the end of the year that is going to bring in a lot of new business. So for this year I wouldn't expect many changes in the casino business, and for next year we will have to wait and see how the economy and the inflation is going to recover.
When the world is locked indoors due to the pandemic, online casinos have become widespread. Compared to other times, online casino or gambling business has generated huge revenue during covid-19 which is the highest in history. However, due to the recent economic downturn, many are thinking ahead. Many are also laying off workers to keep their businesses afloat. But I think running a casino business doesn't require a lot of layoffs. Because those who work here they are always important. Online Casino has a security department that has no chance to exclude anyone. I don't think layoffs are necessary if the problem is not persistent.
I am not an economist but this is in my view so far I have seen the world's economic problems that are not good, look at the gambling sites, there are more and more newcomers and even always provide promotions and bonuses for new users, it doesn't mean their economy is disturbed by economic problems that occur in the world. right now, to be honest I see a lot of people looking for money and luck at this gambling table and gambling even the sports matches are still going on because people are still betting there, so I think they can overcome every economic problem that happens in the world so it won't be affected to them, I think online casinos also cost less than land-based casinos
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?
What makes you think this way? We are no more in the time of COVID pandemic when the world was severely affected. This year, I can see companies, even new companies that are growing more. Or maybe you are talking about your country? Do not think what is happening around you is what is happening in the whole world. Even during this Ukraine and Russia war, there are companies that are growing, gambling sites are one of them. Even on this forum, there are new gambling sites that have grown more and the old ones that have also grown more. 
How do you think online casinos and sports betting platforms are adjusting to manage the situation?
Are you referring to the recession predicted to peak next year? Before the news about the recession emerged in recent months, the deep decline in crypto prices due to entering a bearish period made several casinos stop their promotions through signature campaigns on this forum.
I suspect, because of course the casinos understand better what steps they will take to stay in business with this deteriorating economic condition is to reduce promotional costs or try other marketing strategies that are cheaper but still make their casino known to many people so that there are still people who will play.
Economic downturn didn't really affect online casinos as we've seen during the height of the pandemic. Sportsbetting is a different case though because bookmakers were limited when various sports organizations were ordered to stop hosting games. They were forced to e-games and limited to a few sports like the UFC.
Now that the world has opened up again and facing new economic issues like inflation, online casinos and sportsbetting should be fine.
Now that the world has opened up again and facing new economic issues like inflation, online casinos and sportsbetting should be fine.
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?
At the end there are only two things any business can do to deal with this, they either raise their profits or reduce their costs, increasing their profits can be really hard as people are having problems dealing with the current levels of inflation and they are reducing their expenses, and this includes reducing their gambling costs, however a way to do this could be by raising their house edge slightly as such a thing will bring them bigger and faster profits.However reducing costs is where casinos are really in control, they could reduce the size of their customer service personal, downgrade the speed of their servers, as with less clients then the load on their servers will be smaller and they could still give the same service to their existing clients for a lower cost, or finally they could rethink their bonus strategy and try to make it more effective.
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?
Most of the well-known gambling sites here probably don't have to change anything tbh since they're at a point where they've been through the ups and downs before and reducing their expenses could make things worse for them if they suddenly become understaffed. Then for those casinos that are struggling, I think they have to take the risk of putting up a promotion or some way to get their casino out there so they could get the best value out of their budget and at the same time slowly reduce their losses. legendary
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Well, if you look at what's going on in the forum, they don't seem to be doing badly. In recent months, there have been some signature campaigns that have ceased or have been put on hold, but there have also been some new ones, and if we look at the budgets they are managing, they must be making good profits and getting good ROI.
I mentioned this in another thread:
(Translated from Spanish).
I mentioned this in another thread:
This makes me wonder how much money the casinos must make. If they fill the 100 users let's put a modest average of 50 USD a week, that would be 20,000 a month, just in advertising, and obviously the casino generates a much higher figure in net profit.
The livecasino.io in which I participate fills the escrow every month with about 10,000 USD. Obviously it is profitable for the casinos, otherwise they wouldn't do it. And even in the current bear market and with inflation, new casino campaigns have not stopped coming out. Although some of them have stopped or ended. But it seems that even with the crisis there is always money for vices moving.
The livecasino.io in which I participate fills the escrow every month with about 10,000 USD. Obviously it is profitable for the casinos, otherwise they wouldn't do it. And even in the current bear market and with inflation, new casino campaigns have not stopped coming out. Although some of them have stopped or ended. But it seems that even with the crisis there is always money for vices moving.
(Translated from Spanish).
however, the impact is felt on the online casino business. this is also because players naturally experience the impact of the needs and money they get in the real world.
but casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.
Online casinos did really make out bigger profits on that pandemic time which people cant really go into physical casinos which means that everything involves online do really take advantage on that one since peoplebut casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.
would really be dealing off with things that they cant possibly do on offline or physically.Come to mind that most transactions had been made out online because of quarantines or health protocols which did
really give out more revenue and now that things turns out to be normalized once again then profitability might really be equalized now.Depends on what certain industries that they are making with.
Different industries does have different markets to be served out.So revenue would really vary.
I'd consider it that they're pretty good really, rather than big tech companies like Facebook, Google, and others that already had a bulk of the dev market employees, some online casinos are still developing their teams, so they're pretty much still hiring (I myself am aware of a few companies looking for employees just recently). Not that it's an impossibility for some big online casinos to lay off employees in the near future though.
I also don't think casinos would have a big problem with regards to developing, most online casinos grew pretty well during the pandemic and that should've been enough time for them to build a solid foundation to at least weather through the current situation.
The biggest layoff I know about casinos was physical ones, and that was back at the start of Covid. There's also some recent news about possible layoffs from Macau casinos, but that's the most I know.
I also don't think casinos would have a big problem with regards to developing, most online casinos grew pretty well during the pandemic and that should've been enough time for them to build a solid foundation to at least weather through the current situation.
The biggest layoff I know about casinos was physical ones, and that was back at the start of Covid. There's also some recent news about possible layoffs from Macau casinos, but that's the most I know.
however, the impact is felt on the online casino business. this is also because players naturally experience the impact of the needs and money they get in the real world.
but casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.
but casino businesses that are established, don't need to worry, there are still many players who will stay at the casino. although it is possible that the money they deposit will not be as big as before this economic problem occurred.
In today's global market the most impacted are those who run the import-export business. The casino business is not without impact, but I'm sure they get less risk.
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?
Honestly, this is one of the few market niches that are going in the opposite direction of the world economy as a whole.
Since the pandemic started online gambling has started to make fortunes of money and I don't see this sector suffering from economic problems.
Obviously, one or another enterprise ends up going bankrupt, but it must be due to mismanagement or other isolated problems.
I believe that gambling will still grow a lot.
Unlike all situation people continue to gamble. This is the hard reality. So, gambling platforms making revenue isn't a big issue. At times the failure of gambling platforms happen at the initial days when they weren't able to support with a good funding. Someone winning a bumper will affect its payout and end the service. These days we don't see much of such situation. Everything is developed in a perfect manner to avoid security issues and bugs that ruin the platform and end the service.
How do you think online casinos and sports betting platforms are adjusting to manage the situation?
Big problems occur but there's always time to recover from it. And besides, online gambling becomes a trendy activity during the pandemic that's why I believed they didn't really suffer a financial crisis during that time as they able to cover those supposed profits in sports betting which was not present at that time. Now that the world is now recovering from what the pandemic bring, expect that currently, these gambling companies now able to sustain their operation as usual.
As the famous line says; "Business as usual".
If you're asking about inflation and tightening, the answer depends on the casino. If they still have big mortgages and are heavily indebted they're probably struggling. If not, they should be fine.
If you're asking about covid, the bans have been lifted so they should be fine, unless if they are in China because there are crazy things going on in that country. According to recent news they were making employees live in factories because they were afraid of letting them go home and potentially spreading covid and now more and more workers break out of their quarantine and run home. A casino surely can't function in such climate.
If you're asking about war in Ukraine, casinos are probably not doing so good in the war zone.
If you're asking about covid, the bans have been lifted so they should be fine, unless if they are in China because there are crazy things going on in that country. According to recent news they were making employees live in factories because they were afraid of letting them go home and potentially spreading covid and now more and more workers break out of their quarantine and run home. A casino surely can't function in such climate.
If you're asking about war in Ukraine, casinos are probably not doing so good in the war zone.
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?
Pandemic situation is nearly over and businesses not only on gambling industry had already opened their doors which means that the ones who hadnt closed their doors inside of 2 years on that pandemic situationare the ones who did able to withstand that tough challenge since we know that revenue cant really be the same and those who didnt able to sustain have already shut their doors.
Its normal for a business to go bankrupt if they cant able to sustain which is normal.
For casinos and betting platforms then its true that there's a significant decline of profits but majority of them do still continue despite of the situation.
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?
You just have to look at new casinos coming and established casinos doing massive marketing to get the whole picture that the online gambling industry is very robust, compared to other industries online and offline the gambling industry continues to thrive, the pandemic even helped it to sustain and thrive we have a data to prove this since many people are at home at the height of the pandemic, the gambling industry tapped a new market from gamblers who used to play on landbased, the gambling industry will continue to flourish because its a form of entertainment and people wants to get out of the chaos of the real world even for a short period of time.
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