Recent events have shown that the Coronavirus has had a sizeable impact on the gaming industry. The United States has effectively outlawed betting on sporting events, which has resulted in the postponement of the seasons for all the major sports. All of the land-based casinos in Las Vegas and other cities across the country, including those in Atlantic City and Reno, have closed their doors.
The amount of money that was wagered on athletic events in Nevada this year was the lowest it has been since 1993. This was due to the fact that March Madness did not take place this year. This is due to the fact that bookmakers all over the country are accustomed to the month of March is a busy one for betting. In spite of this, there is a sector of the gambling industry that has been thriving significantly, and that sector is respectable online casinos.
As a direct result of the COVID epidemic, online casino revenue is on the rise
One sector of the gambling industry is thriving, despite the fact that state gambling revenues are on the decline overall: online casino gaming. There has been a rise in the number of people playing poker, but it is not even close to being as significant as the rise in the number of people gambling in casinos that have occurred over the past two months.
For instance, as a direct consequence of the closure of the casinos in Atlantic City, the amount of money made at online casinos located within the state of New Jersey during the month of March has skyrocketed. In total, gaming websites made $64.8 in revenue during that particular month. It was an increase of nearly 25 percent compared to the previous month of February, and it was an increase of more than 65 percent compared to March of 2019.
Gambling over the internet in the state of Pennsylvania is covered by information that is analogous to this. Despite a drop of 51% in overall gambling revenue, new benchmarks were reached for the state’s online casino industry by the state. These casinos broke all previous records for monthly revenue as well as total wagering with their astounding revenue of over 24 million dollars. There are a lot of states around the country that have comparable income and wagering amounts.
Will this sway public opinion in the United States to support the legalization of online gambling?
It is possible; however, just because something becomes more economically viable or an opportunity presents itself does not necessarily mean that a country will act on it.
It is possible to draw parallels with the rapid movement toward the legalization of sports betting that occurred across the country following the decision of the Supreme Court in May 2018 to overturn the federal ban on sports betting. This decision resulted in the overturning of the ban on sports betting at the federal level. Since then, sixteen states have passed laws that regulate and make it legal for individuals to engage in recreational gambling within their borders.
On the other hand, it is essential to keep in mind that it has been possible to obtain authorization for legal online casinos and poker sites since 2011. This is an essential consideration, and it should not be disregarded in any way.
The Wire Act Has Undergone a Complete U-Turn
After the United States Department of Justice destroyed a significant portion of the online poker sector on a day that became known as “Black Friday” in the poker world, the world of online gambling underwent a transformation that will never be reversed.
Despite this, the Department of Justice swiftly rethought its position on whether or not online poker and casino games should be considered illegal. In December of that same year, they issued a statement in which they argued that the 1961 Wire Act was only applicable to betting on sporting events.
This matter was finally resolved with the verdict handed down in 2018, but since 2011, states have had the authority to authorize the operation of online casinos. In spite of this, only thirteen countries have taken the initiative to tax and regulate activities that take place within their borders.
Will There Be an Increase in the Number of States That Regulate Online Casino Gambling?
It is not impossible, but neither is it very likely that it will happen. As a result of the fact that the majority of states that have legalized sports betting do not typically provide an internet component for making bets on athletic events, online gambling is typically thought of as an afterthought in these jurisdictions.
At this point in time, only three of the sixteen states that have passed laws to regulate sports betting have also passed laws to permit internet casinos to operate within their jurisdiction. These states are Delaware, Nevada, and Oregon. As a consequence of this, despite the rapid advancement that states are making with regard to the legalization of sports betting, casino gaming has not been included in these expansions of gambling.
Don’t worry, there are still choices for the players
Players have access to a wide range of betting options at online casinos, and this is the case even though different governments have adopted a variety of strategies in order to regulate the expansion of online gambling. Players can bet on anything from sports to politics to win real money at online casinos. Customers from a wide range of countries, including the United States of America, are welcome at the numerous trustworthy online casinos that are currently available.
In addition, the casino games, bonuses, and software that are provided by them are of a higher quality than the games, bonuses, and software that are provided by land-based casinos. The vast majority of them also allow you to use the same account to participate in poker games and place bets on sporting events.
Players may be gravitating toward online casinos as a result of the Coronavirus, but the fact that online casinos have consistently been the superior choice in comparison to land-based casinos does not change despite this trend.