Izhar Biran, an experienced online consultant in the gambling industry, has told GBC Time about how the Coronavirus pandemic will change the market, what companies will survive, and what steps businesses should make to stay afloat.
It is needless to say that the Coronavirus pandemic has made its changes in all gambling sectors. However, many of them have even profited from the situation, for example, some online casino services. In your opinion, what is the future of the gambling industry under post-pandemic conditions?
I believe that the online gambling industry will benefit from this situation. People are looking for entertainment at home in quarantine and the online gambling sector provides excellent opportunities for land-based casinos’ gamblers and those who haven’t gambled before the COVID-19 outbreak. It will take time until people feel safe to visit such places, as brick-and-mortar casinos, and continue to gamble offline. The increase of traffic in the slot games segment and virtual sports popularity as a substitute for sports betting will be another benefit.
Izhar, as you have experience in marketing strategies for gambling companies, you are most likely to see a way out in the existing situation. What is the most important thing gambling business owners should pay attention to in these uncertain times?
The majority of entertainment activities are closed. People stay at home and are looking for ways to pass the time. The economic situation is poor and it means that they don’t have much money to spend. Business owners should focus on social/casual games that will attract new players who don’t usually gamble online. They should offer players the opportunity to make small deposits to bring new people to playing online.
Do you think that gambling services use panic and isolation caused by Coronavirus to involve more people in gambling and make gamblers spend more time playing?
The gambling industry doesn’t use panic and isolation to push people to gamble. I am sure that gambling companies try to make the best of the situation in the same way as other industries, for example, e-commerce, food delivery businesses, and streaming services. The market experts understand that there are more people at home now and offer them to play casino games.
Speaking about regulations, what predictions can you make as for gambling laws in the majority of countries across the globe? Will regulators make them tougher or, vice versa, slacken them to allow businesses to catch up with usual revenue figures?
I don’t think that regulators will make changes in laws. The gambling industry is strong, and we won’t see big companies going out of business because of the situation. Gamblers keep playing and employees – working from home. There will be a decrease in revenue but the industry will get out stronger from these circumstances.
What do you think about competitiveness in the gambling industry after the pandemic cease? Will it increase?
I think the pandemic will cause a decrease in competitiveness. Small brands won’t survive the decrease in revenue and will be bought by other brands or merge with them.
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