The spread of COVID-19 throughout Canada has meant the sort of economic downturn not seen in decades.
Despite this, the video gaming industry is booming during 2020 at a time when lockdowns have meant millions of people being restricted to their homes and looking for new forms of entertainment.
In the times of social distancing, businesses often cannot welcome customers through their doors and millions of Canadian citizens have been working from home, but always still looking for forms of interaction with others.
Gaming Overtakes Music for Revenue Generated
More people prefer chatting online now to speaking in person, while those who do like to interact more closely often are not allowed during the pandemic.
We didn’t think going online could spread more than it has this millennium, but we were wrong. Online casino free bonus no deposit Canada offers have tempted people in, as has gaming and we’re going to take a look at the industry’s sudden upturn this year.
With these factors now clashing, there has been a higher than normal demand for interactive entertainment produced online and revenues in the video games industry are soaring. The market is set to top $159 billion now, some three times more than the global music industry.
Canadians are online searching for up to the minute news on both sports and tech, which is available over at Sports Grind Entertainment, and these are also worlds that have influenced the gaming boom. Here’s what’s been happening:
There Has Been a Growth in Fantasy Sports and Online Casino Betting
This is no surprise perhaps, but online casino gaming and fantasy sports betting have been surging during the crisis.
According to the expert Kevin Cochran, the author here, Despite not being able to visit a casino in person and with many professional sports cancelled for months, the majority of poker players and sports bettors had to slake their thirst for gambling and simply did so elsewhere.
eSports Took a Huge Boost – Eventually
eSports was considered a new and emerging genre of online activity, though now there may have been a more long-term transformation to this becoming mainstream.
Major eSports tournaments were of course cancelled, but new players are being added all the time as bookmakers look to run bets on players quite literally sitting at home and playing for example a soccer game on a console.
Initially, there was a downturn for eSports but the long-term effect is that it is simply an industry that the sportsbooks and online casinos have now got their teeth into and more people now want to be involved in.
More Free Time Leads to Cross-Generational Participation
As entire families were often forced to stay indoors, people of all ages took to online gaming of one form another. Some treated it as fun, others got more serious but what’s for certain is that it was a revenue generator for the industry and it may well have attracted some hitherto uninterested new players.
Will Gaming Continue to Grow When the Pandemic is Over?
Yes, but not at the same rate that we have seen during 2020. The coronavirus crisis has hit the Canadian economy hard and it has made people turn to new forms of entertainment to fill their day, with economic growth expected to be small.
That will change when the pandemic is over, and so gaming and betting operators should keep working to offer greater content.
When we look back on all this, the gaming boom won’t be considered to have started in 2020 nor ended in 2021, but it sure did take a big jump during the unfortunate global coronavirus crisis.