Remember the times before March 2020 when you could go out for a fun night at the casino with friends? Trading stories with your buddies, surrounded by the whir of the slot machines and the clinking of coins, anything seemed possible. Nothing about this vibrant scene hinted that a global pandemic was about to shut everything down.
The State of Casinos Before and After the COVID-19 Pandemic
It is hard to believe it has been nearly two years since casinos were forced to close their doors due to the COVID-19 pandemic. Unable to go out to a physical casino, many of us turned to our computers or phones for online gambling. For the online gambler, there are about 2,000 online casinos to choose from. Fast forward to 2022, and brick-and-mortar casinos have reopened. But with so many online gambling options will their customers return?
Brick and Mortar No More?
As it turns out, there is a lot of pent-up demand for gambling in person. Many people were able to save money during the pandemic and are eager to spend it at a casino. After being stuck inside for more than a year, people are keen to travel again and take their business to gambling destinations like Las Vegas or Atlantic City. In addition, the COVID-19 vaccine has made many patrons feel safer when travelling and when gambling in person. All of these factors put together have made 2021 one of the best years for the casino industry.
Online Betting Continues to Thrive
Two events combined at the right moment in 2020 to fuel the online betting industry, specifically sports betting. The United States federal ban on sports betting was lifted in 2018. By 2020, sports betting was legal in 21 states. When brick-and-mortar casinos closed due to the pandemic, online gambling became even more popular. During this time, popular sports betting apps saw an 81% increase in revenue from 2019 to 2020.
Despite the return to in-person gambling in 2021, sports and online betting continue to grow. One casino game creator conducted a survey that found 93% of online gamblers said they would continue to play online after the pandemic ends. Not to mention, after a year of slow sports activity due to the pandemic, people are eager to place bets on sporting events.
Can Online and In-Person Gambling Coexist?
Sports and online betting are growing exponentially but still only make up 15% of gross gaming revenue in the United States. In-person gambling at casinos is still driving the gambling industry’s recovery after the slump it endured during the COVID-19 pandemic.
Younger gamblers are partially responsible for the recovery of the gambling industry both online and at brick and mortar establishments. They have shown more confidence in returning to casinos post-pandemic. Not only that, but the younger generation is interested in new types of games that casinos can adopt to keep relevant and attract more customers. At the same time, younger gamblers who grew up with mobile devices and computers are likely to drive the increase in online gambling.
Looking to the Future
Buoyed by the pandemic, online gambling is here to stay and will likely continue to grow. However, this does not mean the brick-and-mortar casino is dead. On the contrary, the gambling boom of 2021 managed to break all previously-set records of the industry. While online gambling is convenient, the excitement and atmosphere of being inside a casino will inevitably draw us back. So, get out those smartphones for some March Madness fun, but don’t forget to hit up your local casino for some good old-fashioned slot machines and table games.