It’s no secret that gambling revenue has nosedived across the globe during the COVID-19 pandemic. In fact, it’s been one of the hardest-hit sectors, rivaling the automotive and travel industries, according to analysts at H2 Gambling Capital.. However, according to new data from H2, while the retail sector has been hard hit, online gambling revenues have been relatively unscathed. The report claims US online gambling revenue tripled in 2020’s second quarter when compared to 2019. The online poker and casino industry managed to bring in an incredible $402 million through April, May, and June. It’s the largest revenue increase ever recorded. Land-based casinos, unfortunately, saw their revenue dip by more than 80% in 2020’s second quarter. This number must have gone up in the following years however, as the revenue in 2018 landed on $306.5 billion for the US online gambling market. Who's Doing Worst? Sweden’s Online Gambling Revenue Surges in 2019’s Q2. Despite the harsh regulations, internet gambling revenue in this country continues to increase. According to multiple reports, Sweden’s online gambling revenue reached $630 million in the year’s second quarter. It represents a 3.2% increase from 2019’s first quarter. Europe: online and offline gross gambling revenue (GGR) 2003-2023 Gross Gaming Revenue (GGR) in select European countries 2019 Gross Gaming Revenue (GGR) as a share of GDP in select European Online Gambling Revenue By Country Club Key Trends and Analysis of the Online Gambling and Betting Market: Increasing digitization, growing trust of gamblers on online payment options, increasing use of mobile phones, high internet penetration, and rising disposable income of middle-class segment are factors driving growth of the online gambling and betting market.
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