Spending on video games has hit its highest ever figure as periods of extended quarantine bring us to our game’s consoles.
Whilst the majority of the land-based entertainment industry (casinos, cinemas, theatres and opera houses etc) have been forced to close their doors due to the pandemic, the online world has reaped the profits.
Statista stats state that global spending on video games surpassed $10 billion in March 2020 – the highest ever monthly figure. With tens of millions of people unable to work in the western world especially following the shutdown of all non-essential shops and businesses, it is not surprising that much of the population spent their spare time on their video game consoles.
It is often the case that video games are more expensive when buying directly from the respective online stores, however, with high street stores closed, gamers have no other option.
However, it is not only the video game industry that has benefited from the increased number of people spending their time online. The iGaming industry has seen more and more people use their services from their homes.
Although land-based casinos remain closed, online casinos are still able to continue operating as normal. The casino game Bonanza slot as well as thousands of other slot games are being played by up to twenty times the amount of people due to the increasing amount of time that is being spent at home.
However, it has not been all good news for iGaming companies. Sports betting websites have seen their revenues crushed due to the lack of televised professional sporting events. With no sport running, bookies have not been able to offer punters odds. Horse racing and football make up a hue portion of sports bookies profits.
The online store Amazon is another global company that has seen its profits rise to an all time high. The online retailer has been described as a “clear winner” from the corona crisis.
Lockdown measures are now being eased across the world therefore it is likely that normality will begin to resume again.