Gambling enthusiasts across the world are looking up to gaming platforms to rescue them from the boredom of lockdown-life. Many countries are encouraging online gambling more than ever to cater to the needs of gamblers, and to collect taxes. These funds are particularly useful for tackling the Covid-19 crisis. Let’s look at the current gambling news across the world to gain a better understanding of the market.
Colombia gearing up for live-dealer casino platforms
Coljuegos, Colombia’s gaming regulator is determined that if people can’t visit the land-based casinos, casinos will reach the people. The regulator recently approved live dealer online casino operations in the country. They have taken the step after thoroughly studying the revenue possibilities resulting from it. Coljuegos has also made things easier for gambling operators by authorising a deferral on the fees for such operations.
It’s worth noting that the regulator had earlier launched online gambling operations in 2017, and had always been considering live dealer operations after studying the Spain and UK model.
Sweden’s online gambling businesses reducing their advertising spend
In Swedish gambling news, online gambling operators are increasingly curbing their advertising spend. A certain online casino operator in the country that usually tops the list of maximum advertising spenders, stood third in that list for the month of March, after reducing its year-on-year ad spend by 59% for that month.
These cuts are attributed to the suspension of live sports events because of Covid-19 pandemic. Sweden’s government has also been coming down heavily on operators, with the talks of a blanket ban on all gambling-related ads.
Philippine’s gambling regulator pushing for the restart of online operations
Online gambling operators in the Philippines are hoping that the country’s president will allow the restart of online gambling operations soon. Recently, PAGCOR’s (Philippine Amusement and Gaming Corporation) chair Andrea Domingo requested the country’s president Rodrigo Duterte to allow POGO (Philippine Offshore Gaming Operators) to resume operations in the country. Please note, all these gaming operators were forced to suspend their operations in March this year. The majority of them, as well as the live casino studios, operate from Manila, the largest city of Luzon Island. The entire island was placed under quarantine back in March.
New Jersey’s online gambling boom could encourage other states to legalize the activity
In New Jersey online gambling revenues rose sharply by 66%, reaching $ 65 million, just for the month of March. These revenues came from all online gambling activities including online slots, blackjack, roulette, poker etc. except online sports betting. New Jersey is well on track to register $ 700 million online gambling revenue this year.
Seeing the trend in New Jersey, it is highly likely that other states of the US might also turn to online gambling as a fresh source of taxes. Considering the current need for funds to tackle the coronavirus crisis and also to offset the revenue lost because of it, legalising online gambling might prove to be the only viable option for many states.
To find out more about the state of the online gambling and gaming market, and to discuss your options as an entrepreneur, contact us today!