The purchase of physical video games had already begun to decline in favor of downloading them online, but this process has only accelerated still further because of the impact of the COVID-19 pandemic.
Online sales have soared over the course of the last 18 months, and online casinos – including the likes of the best NJ online casino, Resorts Casino, in which players can enjoy traditional casino games such as roulette, blackjack and poker, as well as much more besides – have also only continued to increase their popularity and reach, with lockdowns meaning that many more people have been stuck at home and desperately in need of both entertainment and intellectual stimulation.
The video game and online gambling industries have thrived in the wake of the pandemic, with people having more time on their hands and very little to do. However, there is little doubt that at least a significant number of those whobegan playing video games or gambling online during lockdowns will continue to do so after life begins to return to normal.
According to a UK study, although gambling in general slowed during the pandemic because of the lockdowns, the use of online gambling forms such as online casinos increased six-fold among men and women who were already regular gamblers.
Sports and video games
Video games have also been used by many people as a substitute for sports, with traditional sports programming having been idle for much of the crisis. While sports watchers have turned to playing video games themselves, major television networks have also begun to broadcast esports tournaments as a replacement.
Likewise, esports betting has also massively increased, with esports betting hitting around $14bn last year, almost 50% higher than was the case just one year earlier in 2019.
Online gambling has a projected growth rate of 11.5% from last year through to 2027, according to a report from Grand View Research.
Other reasons for growth
Of course, the growth of both online gambling and gaming is not just down to the pandemic. High internet penetration and the growing use of mobile phones by people for the purpose of playing games online both from their homes and in public places have also been driving both markets significantly. Other factors, such as the likes of easier access to online gambling as well as its legalization and growing approval in the culture, have also played a part.
In addition to these factors, market growth has also been further spurred by celebrity endorsements and corporate sponsorships.
The internet is a worldwide platform and allows services to be offered by merchants in a digital market, and growing internet usage has also significantly increased the growth rate of online gambling outlets such as online casinos.
Increased awareness of new technology and more people having greater disposable income are also continuing to propel market growth for both online gambling and online gaming, both of which appear to be here to stay.