The pandemic has wreaked havoc on the world economy. Amidst the chaos and concerns over the global economic crisis, many businesses have incurred massive losses and faced huge financial setbacks.
However, unlike other industries, the online gambling industry seems to be raking in huge revenues.
According to The Business Research Company report, the online gambling industry is expected to experience an increase of 12% by 2023. In addition, the growth rate for the next two years s expected to be 10.4%.
As one of the favorite casino games, online poker is also on the rise in the pandemic. So what are the reasons that have led to an increase in the numbers? Let's have a look.
Poker- a convenient alternative
As people were led into forced isolation amid the pandemic, while many were frustrated due to boredom and isolation, there were others who suffered from stress and anxiety due to the economic uncertainty under the prevailing circumstances.
The pandemic has been hard on many individuals who suffered from a financial crisis due to business losses or unemployment. The future looks bleak for many. Amid such frustrating times, people have been left to their own devices to figure out their coping mechanisms.
Therefore, while, for many, online poker is a means of passing free time, it is a coping mechanism for others. First, there are the avid poker players who shifted to online poker to get some satisfaction out of playing the game online that they previously used to play at casinos.
Cancelation of major events
The strict lockdown and restrictions have left people with little to no entertainment. As major sporting events were canceled, much to the disappointment of fans and punters, many individuals turned to online poker to enjoy some fun and excitement, while punters considered it a good alternative for betting.
Closure of land-based casinos
As many businesses and public places have been shut down during the pandemic, the brick-and-mortar casinos have been no exception. Individuals who used to visit these casinos frequently have shifted to online poker sites to play their favorite games.
Increased use of the internet and smart devices
The pandemic has also led to a significant increase in the use of mobile devices and the internet as individuals were spending more time at home. Cooped up in their homes, with ample free time on their hands and nowhere to go, the internet has proven to be a source of reprieve for many.
As a highly entertaining game, poker presents a good alternative to spend time for many individuals stuck in their homes and frustrated by their circumstances.
