20 February, 2020

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What Awaits The Sri Lanka Casino Industry In 2020?

Want to know what is on the horizon for the Sri Lankan casino industry? We’ve got you covered. Find out what could be next for the casino industry in Sri Lanka.

What Awaits The Sri Lanka Casino Industry In 2020?

Gambling in Sri Lanka has always been in an interesting place relative to countries like the United States and Macau that are synonymous with the industry. And thanks to recent changes to the casino industry in the country, bettors find themselves in a place where massive changes could be on the horizon. Here is a breakdown of what is happening with Sri Lankan casinos and what could be on the horizon as 2020 rolls around.

Increased offshore casino betting

Online betting is becoming more and more popular around the world, as the ability to play many of the same casino games without having to travel to a physical location makes things very convenient for bettors. And with quality casino brands like 888 casino and others becoming more popular around the world, bettors have experienced increased confidence in their ability to bet online at locations that are both secure and filled with the games that they enjoy the most.

Bettors in Sri Lanka could very well end up betting online more in 2020 than they have in previous years, as the availability of so many games and betting options that one can see on this website is superior to what is available at the nation’s five land-based casinos. Of course, it is worth noting that this option requires access to the internet and an internet connection that is of high enough quality to play games that can be demanding on a computer of mobile device.

The online casino industry is going to be aided by the fact that there are several changes being made to the physical casino industry in Sri Lanka. Those changes will make things less convenient both for those running the casinos and those who are playing. Given how convenient betting online is, the decision to make life more difficult for bettors at physical casinos could backfire spectacularly for the nation as a whole.

Increased fees for casinos and players

There are a couple of key changes that have made their way to land-based casinos in Sri Lanka. As mentioned previously, these changes are making online casino play much more difficult for everyone except for foreign casino players. The first of those changes was an increase in fees imposed upon land-based casino operators in the country. Licensing fees doubled for each operator, going up from $1.1 million to $2.2 million annually after those changes were approved. As a result, casino operators could find themselves in a place where they are less likely to want to operate in Sri Lanka. While this new situation is still preferable to the country’s previous stance on casino gaming, making operating overly expensive could see the physical casino landscape completely evaporate.

In addition to the increase in operating expenses imposed upon casino operators, bettors who are local to Sri Lanka will also be forced to pay more in order to enjoy the country’s five casinos. The equivalent of a $50 entry fee will be required of locals who want to visit a casino, which will make it so that bettors will need to spend money before they even make it into the door of the casino. That will make it more difficult for bettors to turn a profit during a trip to the casino and make it harder for people to come up with the disposable income required to play games at the casinos themselves. 

Both of these added expenses could have disastrous impacts on the land-based casino industry across Sri Lanka. Given that Sri Lanka isn’t a tourist destination on the level of Las Vegas or Macau, the gambling industry could fall apart when it comes to land-based casinos. Although people from other Asian countries may not be impacted by any of these changes, the combination of afflictions for locals and operators may just push players toward online betting in big numbers in the future, sending any gambling revenue outside of Sri Lanka.

The only other question to come in the upcoming year will be whether casinos will continue to operate in Sri Lanka based on the new regulations that have been put into place. As more time passes, these locations will be able to evaluate whether it is worth paying the increased licensing fees or if the player entry fees are decreasing their revenue to the point that they should shut down. But no matter what route physical casinos take, bettors will still have the ability to take on the casino games that they enjoy by heading to online casinos.

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    Colombo needs an international Casino with shows to attract tourists to Colombo.

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