{"id":1591,"date":"2020-04-06T12:56:02","date_gmt":"2020-04-06T12:56:02","guid":{"rendered":"http:\/\/46.101.57.149\/?p=1591"},"modified":"2020-04-06T13:02:49","modified_gmt":"2020-04-06T13:02:49","slug":"how-is-covid19-effecting-gambling","status":"publish","type":"post","link":"https:\/\/www.spinsvilla.com\/how-is-covid19-effecting-gambling\/","title":{"rendered":"How is Covid19 Effecting Gambling?"},"content":{"rendered":"\n

Much like several other\nindustries, COVID-19 has hit the gambling industry equally. The pandemic has\nnot only impacted the gambling world in the short run but is foreseen to have\nstrong effects in the long term as well. <\/p>\n\n\n\n

To understand how and to what\nmagnitude COVID-19 will tell upon the gambling world, we reached out to H2\nGambling Capital (H2GC). The agency is monitoring the virus struck situation in\nreal-time. The founder of H2 Gambling Capital, Simon Holiday and Senior\nConsultant, Ed Birkin joined us share their viewpoints. Note that the real figures\nnow are different than what you find here. <\/p>\n\n\n\n

The casino establishments are\nclosing their doors and even the sporting events earlier scheduled have been\nscrapped. This has had a gruesome impact on the economics of the gambling\nindustry with operator stocks crashing like never before.<\/p>\n\n\n\n

The projections made by H2 Gambling Capital are trustworthy as the agency is a front liner in managing gambling data. With its highly influential sources, H2 Gambling Capital has been able to bring out both the legislators and investor\u2019s views on the gambling industry<\/a> across the world. You can bank on the information and insider views as they have been closely monitoring the industry since the virus outbreak begun. Having them here today is an effort towards trying to understand what Coronavirus means for the gambling industry at large. <\/p>\n\n\n\n

Has the gambling sector faced such challenges before? <\/strong><\/h2>\n\n\n\n

As highlighted by the founder\nof the business, Simon Holiday, the gambling industry has never before faced\nsuch a challenge. He says that he has never come across such a phenomenon as\ndestructive as that caused by the Coronavirus. Simon added that he has been\ninvolved in the gambling sector since the 90s decade but the never experienced\nsuch a slowdown in the gambling industry. Even the previous virus outbreaks\ndidn\u2019t impair the market as much. In 2015, the gambling sector had to grapple\nwith a year-on-year fall which came as a blow. This had stemmed from travel\nrestrictions and that imposed on high-rollers in the Macau market. <\/p>\n\n\n\n

The previous outbreaks as\nexpressed by Simon didn\u2019t have such a negative impact on the gambling industry.\nWhat the world is seeing now due to COVID- 19 could cost 50bn to the industry,\nto say the least.<\/p>\n\n\n\n

While Ebola and MERS didn\u2019t\nimpact the prominent pockets where gambling is well-established, Holiday says,\nthis could be one of the main reasons why the sector didn\u2019t have to face the\nbrunt earlier of such virus outbreaks. <\/p>\n\n\n\n

Even the SARS (Severe Acute\nRespiratory Syndrome) originated in China in 2003. It did impact nearly 26\ncountries around the world with 8000 cases. COVID 19 is being compared to the\n2003 SARS virus outbreak but the overall risk was low as the rate of transmission\nto travellers wasn\u2019t as high as that of COVID. <\/p>\n\n\n\n

As Simon points out the Chinese\ngambling sector was not much affected in 2003 as it has been in 2020. China,\nthe Special Administrative Regions and Macau put together accounted for 3.5% of\nthe world\u2019s gross profit generated in 2003 whereas now it stands in the second\nposition worldwide with 16-17% of the wins generated worldwide.<\/p>\n\n\n\n

The massive global breakdown <\/strong><\/h3>\n\n\n\n

At the time this podcast\nepisode was recorded, the forecast was relegated by 11% by The Knowledge, H2GC.\nExperts say that this was proportionate to COVID-19. Simon Holiday tells us\nthat the figures are changing rapidly. While one closure is in the process,\ncancellation of the others is announced. This he says could practically lower\nthe rate by 12.5% (as anticipated at the time of recording) as compared to the\npre-virus forecast for the year.<\/p>\n\n\n\n

The gross win expected at the\nend of January 2020 was 473 billion (considering every segment of the gambling\nsector) as against the figures that have reached close to 420 billion. The\nforecasted stats for 2019 were 457 billion which is equivalent to an\n8%year-on-year fall.<\/p>\n\n\n\n

Ed Birkin expressed that he had\nbeen watching the gambling market trend after the virus outbreak since the last\ncouple of months. According to him, the H2GC has transformed their \u201ctracking\nmethods\u201d. This has been done to keep pace with the impact of the virus.<\/p>\n\n\n\n

It all began with the downgrade\nwitnessed in the Asian market seven weeks ago. The rapid changes required H2GC\nto respond to the situation accordingly. Now they are tracking the recent\ndevelopments with the help of the weekly tracker as the virus caused\ncancellations of events and sports activities across the world and in North\nAmerica as well.<\/p>\n\n\n\n

The impact of the virus on casinos establishment<\/strong>! <\/h4>\n\n\n\n

Simon expressed that the\nprojections for the brick-and-mortar casino are going to be in negative\nprogression. He says that \u201cLand-based industry accounts for 87% of the business\nand with it being particularly hit by closures etc., as we are at present,\nwe\u2019re expecting land-based gambling to be down 14%.\u201d<\/p>\n\n\n\n

He also added that this 14%\ndecline in expectations was based on the current details and data available.\nThe way things are moving, the land casinos would have to brace for more\ndowngrade in the following weeks and months to come.<\/p>\n\n\n\n

Online gambling at this hour <\/strong><\/p>\n\n\n\n

As explained by Holiday, the\nlockdown and stay-at-home orders could account for an increase in the online\ngambling industry\u2019s gross win stats. This would be more than that predicted\nbefore the COVID- 19 outbreak.<\/p>\n\n\n\n

Simon said that they expected\nthe gross wins to be up by almost 13% globally. At the time of recording this\nitself, the figures seem to touch 15.8% of the gross win. He emphasized that\nconsidering an online gaming platform would be a lucrative idea for land-based\ncasino owners. He also said that the eSports network and virtual sports market\nis likely to experience a new high. If you go with what Holiday pointed out,\nonline gambling operators are better positioned than their land casino\ncolleagues.<\/p>\n","protected":false},"excerpt":{"rendered":"

Much like several other industries, COVID-19 has hit the gambling industry equally. The pandemic has not only impacted the gambling world in the short run but is foreseen to have strong effects in the long term as well.  To understand how and to what magnitude COVID-19 will tell upon the gambling world, we reached out […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[8,4],"tags":[],"acf":[],"yoast_head":"\nHow is Covid19 Effecting Gambling? - Gambling News on Spinsvilla<\/title>\n<meta name=\"description\" content=\"Much like several other industries, COVID-19 has hit the gambling industry equally. 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