When the COVID-19 virus was first detected, Australia seemed to be fairly insulated from the worst of the pandemic. However, over the past year and a half, the landscape has changed significantly and Australia is now enduring a series of lockdowns engineered to keep the spread of the sickness at bay.
States such as Queensland have re-implemented government-prescribed anti-COVID-19 health procedures that have had moderate to severe effects on the profitability of many industries. The gambling industry in particular has experienced a mixed bag of consequences with online gambling websites and land-based casinos recording differing results.
The grounding of brick-and-mortar
Australia’s recent wave of lockdowns has meant that popular gambling destinations like Sydney and Queensland are almost completely closed for business with their brick-and-mortar entertainment establishments facing temporary closures. The casinos that have managed to stay open have a litany of pandemic-fighting restrictions to contend with. One of these is Crown Casino that is currently allowed to host a maximum of 300 customers at any time.
These measures, unfortunately, harm the bottom lines of these establishments, exacerbating already reduced turnovers due to most players remaining in their homes. With fresh outbreaks of the virus regularly popping up, even more land-based casinos could be compelled to close down if the rate of infections does not fall.
Doors closed
Brick-and-mortar casino visitors have watched their options shrink as most local venues have shut down amid rising fears associated with the spread of the virus. On the other hand, some casinos have had to suspend business due to a lack of walk-in customers, while others cannot accommodate stringent capacity limits. All of this has led to many players being left without access to their local gambling venues, while others have described the restrictive regulations, like being made to sit down while drinking and eating, as detrimental to their casino experience.
Other gambling-related businesses like offline betting shops have also felt the pinch as they struggle to compete with the attractive no deposit bonuses and other offers available via online casinos. With the absence of clubs, restaurants, and performance events, discerning fans of the gambling experience find themselves searching for simulated experiences and many platforms have responded by boosting their investments in streamlining online gambling.
The online casino sweet spot
Some sectors within the gambling industry have experienced the opposite of devastation in the wake of the pandemic. Recent studies and surveys have revealed a significant surge in online betting, with a report published by the Australian Institute of Family Studies (AIFS) declaring that 1 in 3 respondents registered a new gambling account with online casinos since the onset of COVID-19 and 1 in 20 respondents revealed that they had started placing real money bets at these casinos. The report additionally notes that younger players (between 18 and 34 years) are the most likely to sign up for online betting accounts and take advantage of the alluring welcome bonuses that most of these sites have in place.
With more land-based casinos closing, gambling websites have seen an influx of customers looking to explore digital versions of the real-money games found in classic gambling halls. Online operators have now been faced with the welcome challenge of optimising and growing their resources and operations to meet the rising influx of transactions and communications. Many players have also ventured into the world of offshore casino websites, putting pressure on local online operators to become more competitive.
Containment breeds compulsion
The convenience of online gambling is a double-edged sword as while it enables players to engage in their favourite pastimes from any location on handheld devices, it represents a significant danger to problem gamblers. Recent studies have revealed that an increasing number of people have developed troublesome gambling behaviours during the pandemic, losing significant amounts of money while wagering online. These players lose where casinos win and regulators, along with support groups, have actively championed new measures like mandatory self-exclusion for at-risk players.
Mixed fortunes
An AIFS survey detailed how the closure of local gambling establishments has had a positive effect on the lives of many as players have been able to save the money that may otherwise have been spent on betting. Some casinos have moved their operations online, but a certain segment of players do not enjoy the simulated experience and have chosen not to engage through these channels.
Regardless of the chaos the industry finds itself in, gambling revenue in Australia has remained stable, even with the lack of sports events. Games of chance have risen to replace sports betting, giving casinos further opportunities to modify their online offerings to meet the needs of a market in flux.
