As the Coronavirus continues to ravage the world, a lot of economies across the world have been sent into a deep financial hole. All industries and bossiness have been touched in one way or the other, and no industry seems to be safe.
Today, shopping malls, markets, shopping centres and other places that were frequently crowded by people are just a deserted place. A lot of people are steering clear crowded areas so as to keep the social distance recommended in keeping the virus at bay.
Overall, the result we see is more stress on the already struggling global economic growth.
Coronavirus and the Gaming Industry
The impact of coronavirus is being felt across the board and the gaming industry is not left behind. For example, the planned Game Developer Conference for this year has been pushed to the summers.
Given the uncertainty that has been brought about by the Corona Virus, new dates are yet to be communicated. Industry experts are predicting a negative impact on the future growth of the industry.
This will particularly be worse for the physical casinos that are already hit by the highly infectious virus.
Remember, tourists consist of the highest percentage of gamers who patronize most of these physical casinos. Now, with a ban on travel due to COVID-19, the tourism industry has been greatly shaken and no one is sure when it will get back to its feet.
The Rise of Online Casinos
Imagine how many visitors used to visit Las Vegas each month, just to play in those famous casinos. Now, that is not possible due to the Corona Virus scare. A lot of people are restricting their outdoor activities, and only venture out when it is absolutely necessary.
This change in behaviour has had some serious disadvantages to a lot of businesses. However, for online casinos, be it those located in the United States, UK, Canada or even smaller countries like Hungary or Romania, it is time to celebrate. The digital gaming platform has posted impressive results, as more and more gamers join in as opposed to the traditional brick and mortar casinos. There is also the convenience of enjoying your favourite game without ever stepping out.
Another thing that has aided in the growth of the online gaming space is the convenient payment methods that they offer. A good example is the cryptocurrencies, and with them, a player is less bothered by any form of interference, be it from a third-party or elsewhere.
If a country fails to adequately contain the spread of COVID-19, then this can have some serious negative impact on the overall global economy. This includes the gaming industry as well.
If not well managed, the Coronavirus has the potential to negatively affect things like seminars, organising popular gaming events as well as gaming conferences.
Additionally, the virus could also have a serious negative impact on the research and development of new games. Lack of new games will most definitely slow the gaming industry.
Also, it will not be a surprise to see a reduction in the resources that are normally allocated for the gaming industry. Although the above are just future predictions, a lot needs to be done to tame this virus because of the massive potential damage that it has on the economy.
Luckily, we are seeing concerted efforts in the invention of a vaccine, and we can only pray that it makes a breakthrough as soon as possible.