Since the unprecedented arrival of the coronavirus pandemic in 2020, shockwaves have been felt across a plethora of industries.
One particular space that felt the pressure was the gambling industry – most intensely felt in Italy. The country’s gambling market was dealt a savage blow when there was a gambling marketing prohibition during the lockdown and a steep rise in taxes.
Despite these heavy blows, the gambling industry responded intuitively, using the internet as its saving grace. Digital offerings such as online casinos and games instigated a 95% increase in revenue across the internet sector – classic casinos such as BetVictor, Play Million, and Play Grand were all financially up during the hit of the coronavirus wave.
The key pointer to take away from this internet tirade is the influx of new gambling customers registering to become online punters. Due to people being forced to stay at home due to the lockdown restrictions, more of those inclined to gamble were resorting to the online offerings that trusted companies had in store. 2020 was the year of gamification, with a range of digitalization happening across industries: working environments were reduced to Zoom calls, and casinos were reduced to comprehensive online packages. This convenience is a technical positive for many users, who can now access the gambling industry from the comfort of their own homes.
Fabio Schiavolin, CEO of Snaitech, commented saying: "2020 data demonstrated a clear indication of the digitalization of demand for all goods and services, supported by the 2020 retail lockdown with consumers enjoying the digital offer with greater confidence."
Despite the onslaught of the pandemic bringing unseen changes to the industry, Casinos in Italy have had to weather this kind of storm in the past. In 2019, the Dignity Decree was passed, which saw the banning of nearly all casino promotions. With this setback, gambling outlets were forced to unearth new ways to push users online that stretched beyond advertising and marketing. The efforts were re-directed to using retail presence as a lead generation method, which actually bolstered Gross Gaming Revenue. This may come as a surprise to a lot of people, who might hold dear the idea that promotional marketing is one of the mainstay ways to generate leads, increase users, and ultimately boost sales.
Somewhat counterintuitively, the redaction and hindering of gambling-related promotion has seemingly solidified market share amongst the major companies in the industry, including 21casino, No Bonus Casino, and Royal Spinz. Lessons to be learned here are plentiful, as it shows industries across the world that there are innovative ways to bounce back from setbacks and hindrances. The coronavirus pandemic was unforeseen and novel, which presents as a more serious threat than many past restrictions. However, the fact that casinos in Italy were able to viably bolster their market share, increase their user-base and prevail, shows that there are routes into recovery for many industries. Given the tidal turn towards a more online-based casino and gambling world, there is no better time than now to the thriving industry with some of the best online casinos.