Posted in Poker March 8th, 2009
Info on Why the Credit Crunch is Affecting Gambling
The credit crunch is eating away companies all over the place. Although the gambling industry are not really feeling the heat yet, the financial crisis looks set to catch up with them. So let us take a brief look at why the gambling industry will suffer in the long run.
1) Loss of income – People are losing their jobs all over the place so they are looking to save themselves money
2) Scared of Risk – Most gamblers are not bothered about losing money, especially if they are good wage earners, because they know that at the completion of the month they will get their wage packet. But yet again they are afraid of losing their jobs and are trying to stay away from places such as gambling venues.
3) Jackpots will not be as big – You know that if you are playing Bingo, online poker or roulette that you are playing to win a huge jackpot. Because a lower amount of gamblers will be playing, there will be much smaller jackpots as deposits dry up.
So it just goes to show that in the long run no industry is safe from the credit crunch. There may be companies struggling now when they have felt the first wave of the economic downturn, but I believe more businesses will fall when the second wave finally hits.
So if you are a full time gambler then in this current crisis you should only approach gambling if you are confident enough that you can make a profit, otherwise you could end up losing a lot more than just money.
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This entry was posted on Sunday, March 8th, 2009 at 9:30 am and is filed under Poker. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
