COVID-19 Impact on Gambling and Banking: A Comparison

Dominic Cortis
International Journal of Finance, Insurance and Risk Management, Volume 11, Issue 3, 27-36, 2021
DOI: 10.35808/ijfirm/261


Purpose: The gambling industry has been slowly shifting to online as more jurisdictions are allowing for online betting. The effect of the COVID-19 pandemic has accelerated the growth of online competitors but what can participants bet on if there are no sports events? Moreover the set-up of this industry has been also disrupted by the COVID-19 pandemic. In this paper, we discuss the impact of the pandemic on the gambling and the banking industry. Design/Methodology/Approach: We interview 21 professionals based in Malta, an EU country which is considered as a hub for operations of online gambling operators. Findings: Despite serving different aims, they share some similarities as both operate in highly regulated environments. We find that COVID-19 has been acting as a catalyst for both industries to accelerate changes. Originality: The gaming industry is a multi-billion euro industry but there are few academic discussions focusing on their operations. Our paper is unique in focusing on the challenges of this industry during the pandemic

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