COVID-19 Impact: Gambling Industry COVID-19’s Impact on the Gambling Industry and How Betting Brands Can Continue to Stay Relevant Casinos have closed their doors and without live events, online and offline sports betting doesn’t exist. So, how can gambling industry marketers stay relevant to eager bettors during this unprecedented time? Much of the nation’s $261 billion gambling industry has been paused thanks to measures taken to contain the spread of coronavirus (COVID-19). Casinos in Las Vegas, Atlantic City and other major gambling destinations closed in March, and countless workers have been furloughed or laid off. Initial reports showed that 92% of casinos were shut down by late March, but that figure is likely closer to 100% now as tribal casinos have followed the trend too. Couple these closures with the impact from canceled sporting events and you can see why industry revenues have almost completed dried up. During the NCAA Men’s Basketball Tournament in 2019, Americans wagered an estimated $8.5 billion on the games. With March Madness canceled last month along with nearly every other major sporting event postponed or scrapped, the industry is in a holding pattern that’s costing billions.
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