With the vast majority of casinos closed in response to the COVID-19 pandemic and adherence to Federal government ordinances, there’s been an influx of gamblers flocking to the “virtual” table by participating in online gambling and esports betting; an inundation that has prompted gambling establishments to revamp their online presence and accessibility. Watch this video for a quick glance at the effects this mass ingress is having on the gambling industry:
Sweetening the Virtual Pot
Online gambling providers have gone on record saying that they’re experiencing a significant spike in both volume and revenue in recent weeks. But on the other side of the chip lies economic drawbacks for casinos themselves. Let’s take a look at this infographic for recent statistics and trends, and continue reading to learn more about how the industry itself is responding:
FOX Bet claims its online casino and poker operations have doubled the rate at which it was adding brand new customers last month.
“When the NBA shut down, we really saw a sharp increase since that date,” said Robin Chhabra, FOX Bet’s CEO. “We’re seeing a very strong shift to poker and online casino.”
Recently, the “Sunday Millions” tournament broke a record for entries and generated a prize pool of $18.6 million — making it one of the largest online tournaments in poker history. But this isn’t an isolated incident; according to PokerStars president Matt Primeaux, guaranteed prize pools for this organization’s tournaments have increased around 40% in the last few weeks leading up to April. The Golden Nugget, New Jersey’s leader in internet gambling revenue, is also seeing a virus-related bump in its online numbers. According to Thomas Winter, Golden Nugget’s senior vice president, they’ve seen a 20% increase in new player signups in March.
What makes this all particularly interesting, however, is that online poker is only legal in a few states: Delaware, Nevada, Pennsylvania, and New Jersey. While other states offer online betting on sports, the market has dried up virtually overnight as professional and college sports have effectively shut down due to the Coronavirus.
Suspect You Have a Gambling Problem? Call Our Helpline Today
As organized sports shut down and quarantine efforts continue to be of primary concern for citizens and organizations throughout New Jersey and beyond, gambling has become overwhelmingly popular as individuals embrace its virtual form. But make no mistake — whether it’s by a green-felt table or via computer, gambling is gambling.
If you or an individual close to you begins to exhibit betting or sports gambling problems, call 800-GAMBLER to reach our confidential helpline, and we will help determine the best approach for getting help to the person who is in need. Rest assured that support, treatment, and hope are just a call away.