Igaming was able to reach an increase in revenue during the 2020 lockdown
Global Betting & Gaming Consultants Ltd revealed iGaming revenues worldwide rose to almost US$60 billion in 2020, amid the Covid-19 pandemic.
Press release.- The overall gambling sector had a difficult year in 2020, with global revenues falling by US$ 100 billion. But, in common with other e-commerce businesses, global igaming managed to post an increase in revenues.
Lockdowns and restrictions on socializing in many countries meant that people clearly turned to i-gaming as a form of entertainment in 2020.
Global iGaming revenues rose to almost US$ 60 billion in 2020, with each sector reporting a net increase over 2019.
Casino games were responsible for most of the increase, but poker also made a significant contribution. The picture was more mixed in betting.
Most international sports were canceled in early 2020 but horseracing and greyhound racing did continue in some key markets. When other sports returned in Q2/Q3 2020, there was certainly pent-up demand.
The most interesting sector was online lotteries. Prior to the pandemic, state lotteries had generally been reticent to promote digital sales, with some notable exceptions.
But the pandemic has required lotteries to introduce or expand online sales because many of their retail outlets were forced to close for prolonged periods. Overall, online lottery gross win increased by US$ 0.9 billion in 2020.
The combination of rising igaming revenues and falling land-based revenues also means that igaming’s share of the global gambling market jumped to almost 17% in 2020.