The year 2020 was very challenging, if not the most challenging one so far, for a lot of people, especially business owners. The COVID-19 pandemic that caught the majority of the world by surprise crippled a lot of industries and changed the way everyone lived their lives. People lost jobs as businesses closed down–some temporarily, a lot permanently. As the years went on and the situation with COVID-19 around the world somehow becomes a bit better than when it began, the economy was once again opened up following the lifting of restrictions and lockdowns. However, will the lost revenue and the lost businesses be able to recover from the crisis that this pandemic had caused?
When it comes to the gambling industry, one of the “non-essentials” that was closed down during the lockdowns–along with other places of leisure like arcades, theme parks, cinemas, and theaters–was gambling places. There were no casinos, and there were no sports betting places anymore (add to that the fact that no sports are being played that you can bet on as well). With that, people went online and discovered online casinos in India as well as other betting sites. For the time being, the online gambling sector managed to keep the activity alive by providing a virtual and an online experience to players, both newbies and veterans alike.
With more and more establishments being allowed to go back into operations, including the gambling industry, one question remains in the minds of a lot of people: will land-based gambling in India still survive after the effects of the COVID-19 pandemic?
Here are some of the things that you should know.
India gambling scene right now
Before the year 2020 ended, India was one of the many countries that started to slowly “unlock” their country. After all, every nation is in unison that any longer strict lockdowns may put the economy and the country in a crippled economic state that they may not recover from anymore. As such, the gambling industry in India, particularly in the state of Goa, was reopened. Only 50% of full capacity was allowed. Goa chief minister Pramod Sawant said that the decision was taken to “promote tourism activity in the state.”
“From November 1, we have permitted the casinos to start. They will have to follow all the SOPs as will be issued to them by the Home Department and with 50% capacity, they can start. We need to promote tourism activity,” Sawant said.
With that in mind, this allowed Delta Corp, the leading gambling company in India, to at least recover from the losses they had all year. Because of the reopening, they managed to at least make a little profit for the final months of 2020, despite being at a loss overall compared to their statistics back in 2019.
The company reported that they made a total profit of Rs 1.28 crore (US$176,000) in 4Q20. This is at least 97% lower than what they reported they earned in 2019 of the same quarter. ON the other hand, this is much better than their previously reported loss of Rs 54.91 crore (US$7.6 million) for the September 2020 quarter.
The rapid growth of online betting sites
From the entirety of 2021 up to 2021, it is expected that online casinos and betting sites, where people went to when land-based gaming closed down, would still prosper and flourish in terms of revenue. After all, more and more people are discovering the convenience and the wide range of options that online gaming can give them, all without the need to risk going out to go to land-based establishments.