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The online gambling industry has been experiencing a significant surge in popularity and revenue since the COVID-19 pandemic started. With land-based casinos and other gambling establishments forced to close their doors due to restrictions and lockdowns, many people have turned to online gambling as a form of entertainment and a way to pass the time. According to a report by the European Gaming and Betting Association (EGBA), online gambling revenue in Europe has increased by 25% during the pandemic.

This is a significant increase when compared to the previous year’s growth rate of 11%. The report also shows that online gambling companies have experienced a 35% increase in new customer registrations. The United States has also seen a surge in online gambling since the pandemic. In New Jersey, online gambling revenue increased by 123% in March 2020 compared to The Telegraph News Today same period last year. In Pennsylvania, online gambling revenue increased by 24% during the pandemic. The increase in online gambling is not limited to traditional casino games.

Sports betting has also seen a significant increase in popularity. With many sports events canceled or postponed, online sports betting has become a popular alternative. In the United States, online sports betting revenue increased by 90% in March 2020 compared to the same period last year. The increase in online gambling has also led to concerns about problem gambling. With people spending more time at home and having easy access to online gambling, there is a risk that some individuals may develop a gambling addiction.

To address this concern, online gambling companies have implemented measures to promote responsible gambling, such as setting deposit limits, offering self-exclusion options, and providing resources for individuals who need help with gambling addiction. Despite the concerns, the online gambling industry is expected to continue its growth trajectory even after the pandemic ends. The convenience and accessibility of online gambling have attracted a new generation of players who prefer to gamble from the comfort of their own homes.

Additionally, the legalization of online gambling in several states in the United States, including Illinois and Michigan, is expected to further fuel the industry’s growth. In conclusion, the COVID-19 pandemic has brought about a significant increase in the popularity and revenue of the online gambling industry. While the industry has faced concerns regarding problem gambling, it has implemented measures to promote responsible gambling.

The industry’s growth is expected to continue even after the pandemic ends, as more people discover the convenience and accessibility of online gambling.2 days ago