Revenues of online casinos in Delaware—which legalised online table games in 2012—grew by two-thirds in April
LAS VEGAS has awoken from its pandemic-induced slumber. Hundreds of Nevadans continue to come down with covid-19 every week, and every night demonstrators march through the city to protest against the death of George Floyd. But none of that deterred Americans from across the country from defying shelter-in-place orders in their home states to descend on Las Vegas in anticipation of its partial reopening on June 4th.
Stuck at home in April, gamblers in those four states took advantage of the permissive local laws. Virtual wagers by Pennsylvanians were up by some $500m over March. Delaware’s online casinos boosted their revenues by two-thirds. New Jersey’s intake soared by 23%. Nevada’s online-poker rooms reported soaring traffic just after the shutdown. These states, however, make up only 8% of America’s population. And online gambling is illegal across state lines—a law online casinos try to enforce.
The gambling industry as whole, however, has taken a big hit from the pandemic. With most North American professional-sports leagues inactive, bookmakers have taken bets on South Korean baseball and Belarusian football. E-sports, which have attracted a rocketing number of viewers during the pandemic, have become popular flutters as well. None of these, however, commands the same weight of betting as Major League Baseball , the National Hockey League or the National Basketball Association .
It may become easier for them to do so. With state governments’ coffers depleted by reduced business activity and increased spending, legislatures may turn to the time-worn revenue-raising tactic of legalising a black-market industry and taxing it. They have done it before: fiscal stress brought on by the recession in 2008 led eight states to loosen gambling restrictions, leading to the opening of a number of new casino and horseracing tracks and millions of dollars more in tax revenues.
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