The Covid-19 pandemic has changed the overall structure and function of many industries. Some got shut down altogether, and others kept them running through means of the internet and technologies. Casinos are part of the hospitality industry that was severely affected by this pandemic. Many land-based casinos closed temporarily for an indefinite period after government-imposed restrictions on free movement and crowding.
Impact on Land-Based Casinos
Land-based casinos or brick-and-mortar casinos run with closed interiors. Such casinos have people interact with each other frequently. Blackjacks, poker tables, slots, and others ran with the human touch in land-based casinos. It affected casinos’ normal functioning, as it posed a threat for stopping the virus’s spread. Forced closure of these establishments meant no work for its employees and end of casino visits for a regular gambler. The large-scale casino industries which generated billions as revenue has shrunk down with the advent of this pandemic. The ones hit hard by the pandemic, and eventual closure of these establishments is the employees. Casinos employ different sections of people like the dealers, securities, waiters, and other top-level management staffs. Casinos employee a large number of employees to keep up with everyday business. Big casinos like Marina Bay Sands and Bellagio has more than a thousand employees to run the house. Most of these men and women are out of work due to Covid-19. Statistics show that around 7.7 million jobs got lost in the American hospitality industry alone. Even though the economy is getting slightly better after lifting the lockdown, millions have lost work.
Impact on Online Casinos
The only positive part of the pandemic in the casino business is the growth of online casinos. Online casinos posed as a great alternative to land-based casinos. They are better in many different ways. It does not require you to go outside, thus following the government’s order, but at the same time, you can enjoy your little gambling session at the comfort of your bed. You’ll be surprised to know that online casinos grew despite the pandemic lockdowns. The reason is the availability of low deposit limit, big bonuses and rewards. The online casinos are accessible right with your fingertips. The variety of games online gambling sites provided is massive compared the kinds normal land-based could offer. The pay-outs in these sites were higher, and a newcomer can avail free trial games to understand the rules.
Impact on Sports Betting
Pandemic did not flourish sport betting platforms. They were severely affected as the tournaments, and championship leagues got cancelled or postponed to maintain social distancing. Now the high demanding betting space is struggling to keep up with the loses. After the lockdowns got lifted, sports betting sites have restarted their business again.