The US has been one of the countries most affected by the COVID-10 pandemic. Life will never be the same as the economy has been devastated by the effects of social distancing and lockdowns. As a lifeline, the Government is printing trillions of dollars in the hope to rescue businesses and provide its citizens with money. The money has been used by many to gamble within the hope to turn around their dire situation which has created a boom in the online casino industry.
The increase in gambling during the pandemic can be attributed to many different factors. One of the main reasons is due to the lockdowns with millions of Americans having to stay indoors to stop the spread of Covid-19. With free money being deposited into their accounts by the Government and nothing to do at home, gambling was an obvious choice many were going to make.
With new stimulus checks on the way in 2021, the boom in online gambling is set to continue. Platforms such as Casinowhizz.com [valid in states where legal] and Onlinecasinos2.com [valid in states where legal] reported a record number of US visitors searching for the best USA online casinos and bonuses. The most popular games played by Americans during the pandemic are slots and video poker.
Another major factor that has contributed to the boom in gambling in the US has been due to many sports unable to go ahead. The ones that are continuing during the pandemic are behind closed doors with no spectators. Many have turned to gamble websites to fill the void of no sports as a form of entertainment along switching from sports betting to more risky casino games.
There have been millions of Americans who have lost their jobs and numerous sectors such as travel have been devastated. It has meant that chances of getting hired again are slim and during the lockdowns, bills are building up. Many feel that they have no other option but to try to gamble their way out of debt but this nearly always ends in the person ending up completely broke.
It is not just online casinos that have seen a boom but also other forms of gambling such as forex are also experiencing record numbers of bets. A Reddit group called WallStreetBets recently was in the headlines and shows first hand just how big the amount of US gambling is taking place. These new internet-savvy gamblers are taking on hedge funds with great success by squeezing short-sellers and are disrupting the whole financial system at the same time.
As more jobs evaporate and further stimulus checks are sent out, the gambling industry will be one of the largest beneficiaries. It is clear to see that laws and regulations around state gambling are failing and the new administration will need to come up with a solution. With more gambling taking place, there will be more addicts than ever before which is why state help will be needed to make sure that it does not harm society.
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