The pandemic has changed online gaming
The betting and gambling industry is also not immune to the effects of COVID19.
All sports leagues in the world have come to a halt, suspending the entire spectrum of betting activities. The Olympics have also been postponed. Many land-based casinos have been closed. Even those that work offer limited access.
Crisis on several fronts
The economic impact on the gaming industry will be severe. Bill Miller, President and CEO of the American Gaming Association, has already asked for government support. He listed the numerous vertical gambling sections that will be impacted by the economic consequences of the COVID-19 outbreak in a statement:
‘It is estimated that 616,000 casino gaming employees are prevented from working due to important health and safety decisions made by state governments … The impact on our employees, their families and communities is staggering and the implications they extend well beyond the casino threshold. The major tech companies that supply the industry and the nearly 350,000 small business employees who rely on games for their livelihood are also suffering the devastating blow of this unprecedented public health crisis. ‘
He predicted a grim economic situation if the government goes dormant in the near future.
In total, these mass closures would rob the US economy of $ 43.5 billion of economic activity if US casinos are closed for the next eight weeks.
In Europe it is no different
While he was talking about the US scenario, the situation is not very different in European and Asian countries. None of the industry experts would disagree with him on his following assessment of the industry:
‘The game is an economic engine, employing millions of local residents, generating investment in communities through vital tax revenues, and supporting small businesses in communities …’
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