A recent study by Bonus Finder found that searches for online casinos increased by 100% due to the closure of major land-based gambling establishments and the cancellation of sports broadcasts. The tipping point happened on August 12, when more players were looking for “online casinos” than “sports betting”. What does it mean for the whole industry? Let’s figure out.
Who Is in Profit?
In recent months, Google Trends has found a sharp burst of activity in the number of people looking for “online casinos” after land-based establishments shut down. Those countries that actively invested in the regulation of online gambling, have noticed a huge increase in income received from such institutions. To stay being relevant, most Canadian casinos expanded the options of accepted payment methods so that the players feel comfortable and safe. In this way, online casinos substitute the offline ones for numerous players and generate very good profits consistently.
In addition, having merged their online and offline businesses, they created a reliable structure that is able to protect players. The demand will only grow as this unprecedented situation will not change in the nearest future. Therefore, now it is time to focus on providing best-in-class regulated online casino games that players can responsibly enjoy and that can also help countries cope with revenue shortages during the crisis.
Where Online Gambling Is Legalized?
The policy of states on gambling issues can be reduced to five fundamental areas:
- 40% of countries without any regulations for online gambling.
These are mainly the countries of South America (Bolivia, Argentina, Peru, Chile), most of African States (Zimbabwe, Chad, Angola, Botswana) and certain territories of other continents (Belarus, India, Mongolia, New Guinea).
- 14% of countries require a license for local casinos.
The government restrictions only apply to local institutions. Those wishing to try other formats can visit foreign institutions. These regulations are used in Canada, Greenland and some European countries (Portugal, Ireland, Norway, Latvia).
- 14% of states require licensing for all casinos
This is the most reliable form of regulation, which sets the same conditions for all gambling companies. It provides constant budget revenues and allows citizens to use only trusted institutions. These rules apply for Panama, Ethiopia, Georgia, Sri Lanka and some European States (Sweden, Finland, France, Great Britain, Germany).
- 12% of countries banned local casinos but did not create mechanisms to regulate foreign ones.
Some of these countries fight directly with the players, using criminal and administrative responsibility. At the same time, the casino owners often remain out of reach. This approach is practically useless since it is unable to fulfil its target functions.
- 19% of states impose a complete or partial ban on online gambling
Russia, Kazakhstan, China, Turkey, as well as the United States, Colombia, Indonesia and certain African states are following this principle.
As you can see, each country has its own rules towards gambling regulation. However, there is something that unites all these states – the sincere love of gambling.