Online Gambling and Betting Soars During COVID

September 11, 2021 | Vendor News

LONDON, U.K. (September 6, 2021) – Information released today by leading global e-payment wallet, STICPAY, shows the scale of the impact the covid pandemic had on online gaming and online betting.

During 2020, STICPAY saw an increase of 70% in the number of merchants signed up to the platform and a 100% increase in the number of registered users. The number of transactions carried out using a STICPAY wallet grew by 97% in 2020 in comparison with 2019 and the value of those transactions was 150% higher than in 2019.

With increases being seen from the start of the pandemic in Asia in January 2020, when deposits doubled despite there being no special marketing activity by STICPAY, the company believes the growth is due to more people being stuck at home and turning to online gaming for entertainment.

STICPAY experienced unprecedented growth in March 2020, when the amount deposited to online gaming platforms via STICPAY was 200% higher than in March 2019. This is when COVID was at its peak across the world and many people were at home in isolation or working from home.

Customer Service Director at STICPAY, James Bay, said: “As COVID began to take hold across the globe we all had to change the way we were living our lives. Normal routines were gone, and the news was becoming more shocking and frightening by the day. Many people, having no work to occupy their time and minds, and with normal leisure activities, such as cinemas, bars and restaurants closed, started to explore online gaming and betting sites as a means of experiencing some light relief. We saw then of thousands of people signing up to our secure e-wallet and taking advantage of our cashback offers.”

E-payment wallets are becoming increasingly popular because of the flexibility they offer to transact in multiple currencies, and the increased security they provide. STICPAY’s e-wallet handles 29 fiat, and three cryptocurrencies and transactions can be made in more than 190 countries.

Users deposit funds in their secure STICPAY e-wallet which they then use for their online gaming and betting activities, meaning there is no need to exchange credit or debit card details online. The ease of use, flexibility of currency transaction options and the improved security of STICPAY’s e-wallet, are some of the factors that led to a 100% increase in customers in 2020.

SOURCE: STICPAY media release.

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