Gamblers Switch from Sports Bets to Riskier Options During Coronavirus Lockdown

One of the UK’s leading gambling websites has stated that gamblers are switching from sports bets to riskier options like online casino and slot games amid Coronavirus lockdown.

In its stock market update, 888 Holdings said it had been impacted by the postponement or cancellation of sports events, cutting income from sports betting, which accounts for about 16% of its revenues. 888 also said it has evidence that gamblers are migrating to alternative products.

“There is currently evidence of increased customer activity in the group’s casino and poker products that might, in part, compensate for the sports betting disruption for a period of time,” 888 said.

A cross-party group of UK MPs called for online gambling companies to impose a £50 daily cap on bets, citing concern that vulnerable people and addicts would be particularly vulnerable during the lockdown period.

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888 said it was working particularly hard to ensure that it spots signs of problem gambling among its customers.

“The board recognises that, with people spending more time at home and with potentially increased stress from economic uncertainty, 888’s vigilance on safe gambling and preventing gambling-related harm is even more important than ever,” 888 said.

“The group continues to offer its customers support and is proactively communicating with its customers to make them aware of safe gambling tools to limit and control their play,” 888 added.