Many businesses have lost out due to the Coronavirus Crisis, but not online casinos; their number has come up. What does this indicate for a post-pandemic world?
Like all non-essential businesses, offline casinos closed their doors in mid-March and have yet to re-open. Their online counterparts, however, have seen a surge in people signing up as well as an increase in money rolling in from existing customers.
This is no surprise. With sporting events cancelled and people furloughed or out of work, the world of online casinos is easy entertainment. Games such as roulette, poker, blackjack, bingo, and slot machines are proving popular alternatives to horse racing and football.
According to the Gambling Commission the surge in online interest is yet to become a surge in problem gambling; that said, it does indicate a worrying trend for some watchdog groups keeping a close eye on recent developments.
New guidelines have been issued to gambling companies outlining the vulnerability of some people who may be experiencing financial distress, isolation, and boredom due to the crisis. Monitoring the situation closely GamCare has said it will step in if it picks up on irresponsible behaviour.
Meanwhile, those who once enjoyed rolling the dice on a live table are making the switch to pixelated poker, with offers such as bonus casino fara depunere 2020 pe CasinoHEX Romania drawing in the crowds. The question of whether offline casinos will ever recover and regain their former appeal is being asked, and with such uncertain times ahead, the same questions are being posed to many businesses and industries.
There is a sense that the Covid-19 crisis has been pivotal for the world economy, and that a new vision is needed moving forward in order to compete in the post-pandemic world. The sudden and dramatic switch in circumstances has meant that some industries, such as online casinos, and digital services, have lucked-out, whilst others such as pubs, clubs, and brick and mortar stores are struggling to see a realistic future.
This polarisation tells us something important about the world moving forward and the ways in which businesses must manage risk in the future. Companies can no longer exist without a digital enterprise integrated into their business model. The efficiencies are evident in terms of reduced overheads and better profit margins online but, the post-pandemic world will increasingly build its success around digital models as demand for online products and services continues to grow.
Does this mean businesses would be better to remain closed up and pursue lightweight online enterprises? Well, perhaps, but the demand for conventional products and services, such as proper roulette tables and race tracks is also certain to return, and possibly with renewed interest.
For businesses to survive in the future they would be advised to follow the pattern of companies that have been successful during the crisis, invest heavily in growing digital markets without completely abandoning their offline presence. This time it was the brick and mortar world that took a hit, but who knows what could happen next; maybe a catastrophic internet virus.