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Pandemic has provided the iGaming industry with an overwhelmingly positive impact

Many had lost their jobs and found that their lives would be changed forever because of it, whilst others also endured some rather negative experiences that were unimaginable in the 21st century.

By Newsd
Published on :
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When thinking about the impact that the COVID-19 pandemic had on the world, a rather negative narrative will typically be described. Let’s face it, the vast majority of the world’s population has been impacted in a variety of different ways. Many had lost their jobs and found that their lives would be changed forever because of it, whilst others also endured some rather negative experiences that were unimaginable in the 21st century.

Most business industries and sectors had also experienced negative impacts because of the deadly virus, with many being forced to close because of the inability to continue to trade, whilst others saw their operations and subsequent profits take a significant hit.

Online casinos have benefited enormously

However, it could be argued that one business sector was able to benefit from the situation that was presented a lot more than others, with the iGaming industry actually able to experience a huge boom during the period and one that saw an acceleration of growth that would have been hard to predict and foresee. Naturally, there were some negatives as physical traditional brick-and-mortar casinos were forced to be closed due to restrictions and a lack of tourism, however those that operated virtually would have been delighted with what had happened.

Of course, the reduction in tourism to physical establishments will have played a huge role in helping online platforms to boom and grow at rates that unheard of, whilst it is also easy to point the finger at the introduction of cryptocurrency and the benefits the digital asset provides punters when they play their favourite games. Indeed, with advantages including anonymity and security being experienced, it is hardly a surprise that many have turned and started to play live dealer casino games at Winz.io recently as they are able to enjoy a number of benefits that fiat finance does not offer, as well as being given the opportunity to earn more due to the volatile nature crypto have, with wins potentially becoming bigger than they initially appear.

Why are online crypto casinos becoming even more popular?

As mentioned, with physical casinos having had to shut their doors during the worst times of the pandemic that has been experienced, many individuals have been forced to spend time at home. This has led to many looking at online casinos and even crypto options as alternatives to help satisfy their gaming requirements. With a high degree of convenience being offered by these platforms, many have opted to remain using these platforms beyond the worst of the pandemic as well, as they are able to enjoy their favourite betting activities from the comfort of their own home, which has proven to be less expensive and less time-consuming, as punters no longer have to leave home and can use the high-speed internet access that they have available to them.

Furthermore, with many having jumped on the cryptocurrency bandwagon and learning about all the benefits that digital assets such as virtual currency provide them with, there is a greater demand for online crypto casinos than ever. As highlighted earlier, bettors are able to enjoy levels of security and anonymity that they can not experience with traditional fiat finance that would be used at a physical or online casino. They are not subject to the same rules as those who use traditional currency, either, as the tokens used are decentralized, thus making a gambling session potentially more rewarding than it previously may have been!

Negatives of the rise in online crypto casinos are being experienced

Unfortunately, where there are positives, a number of negatives are likely to follow and this is the case when thinking about how the rise of the online casino industry and the use of crypto in the sector.

For example, physical casinos could soon become a thing of the past, and whilst many live dealer casino games can provide a rather authentic experience, there will be some that will suggest that there is nothing like the real thing. Many will attribute physical establishments as being the heart-and-soul of the gambling scene, whilst also providing a social aspect that online casinos simply can not compete with, despite the best efforts of developers and operators.

Verdict

It is clear that the COVID-19 pandemic had an overwhelmingly positive impact on the iGaming industry and one that will have a lasting effect on the sector for some time to come. Crypto has been booming in regards to adoption rates, especially for online gamblers, although that said, the continued growth virtually could have a damaging effect on the physical establishments that exist for now.

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