Online Poker and Casinos See Revenues Triple Year-on-Year

By Mike J. Davies Editor in Chief at Casinos.US Updated: 09/19/2020

Mike J. Davies Editor in Chief at Casinos.US See Full Bio

Mike is our Senior Editor and experienced gambling strategist. A former hockey player, he transitioned to the casino industry after finishing his B.A. in English. Blackjack systems, online casino guides, gambling terms, and more – Mike is familiar with all fine points of gambling.

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Online Poker and Casinos See Revenues Triple Year-on-Year

Operations for casinos and other businesses have suffered hugely over the course of this year. The global pandemic that gripped the country in March and continued to affect the world today resulted in businesses including casinos having to close their doors for several months.

This naturally had a huge impact on casino revenues, with gambling at land-based casinos grinding to a halt for several months. However, while this was bad news for brick-and-mortar casinos, recent figures have shown the huge positive impact it has had on online casino gaming and poker.

Many Turned to Online Poker and Gaming

As a result of casino venues being closed, many people turned to online poker and casino gaming in a bid to enjoy entertainment. In addition, the lockdown meant that a lot more people were looking for a means of entertainment at home, with many deciding to try their hand at gambling online.

This meant that while land-based casinos stood completely empty and shuttered, online casinos were doing a booming trade during the lockdown. Even now that casinos in many areas have reopened, many people are still engaging in online casino and poker activities, as this has become the norm in the lives of many gamblers.

Figures were recently released by the American Gaming Association, and one senior official from the association said:

Consumers like convenience. There was very little competition from brick-and-mortar casinos in the second quarter.

During the second quarter of this year, online casino gaming and poker were booming amid the lockdown and the closure of brick-and-mortar casinos. Revenues for the second quarter of this year rocketed compared to a year earlier. They were also much higher than the figures for online sports betting, as the world of sports also ground to a halt due to the COVID-19 pandemic.

Huge Success for Online Operators

The unfortunate situation stemming from the pandemic meant that revenues at brick-and-mortar casinos have fallen by 80% according to the AGA. However, revenue from online casinos and poker tripled compared to the second quarter of 2019, coming in at $402 million.

In some states, casinos were closed for most of the second quarter of this year, while in others they were closed for the whole quarter and beyond. This means that land-based casinos have been hit hard by the pandemic, but it appears to have had the opposite impact on online casino operations.

On the downside, online gambling is only legal in a number of states across the USA, which means that some have missed out on the revenue generated by online activities. Online casino games are legal and operational in just five states at present.

Sports betting is legal in 22 states, and prior to the pandemic, online sports wagering is said to have been booming in terms of popularity. However, because of the impact of the pandemic on the world of live sports events, sports betting also saw a sharp dip during the second quarter of this year. Sports events are now starting to restart though, with many particularly looking forward to the start of the NFL season.