The credit crunch is in full swing and companies are dropping left right and centre. 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 do not really care about losing money, especially if they are high earners, because they know that at the end of the month they will get their wage packet. But once again due to being scared of losing their work, they are trying to stay away from casinos.
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 lot less people will be playing, it means less deposits and smaller jackpots.
So it just goes to show that in the long run no industry is safe from the credit crunch. A lot of businesses have been hit by the first wave of the credit crunch, but once the second wave hits I believe we will see a lot more casualties.
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.