Will Gambling Revenues Fall During A Recession?
While the worlds leading economists are spit as to whether the world economy will slip into a recession, there is no doubt that we will at best experience a severe slowdown of economic activity around the world. This has prompted many to ask whether this will severely affect gambling revenues which historically have been fairly steady throughout periods of reduced economic activity. So will you spend more or will you spend less?
The internet has revolutionised the gambling industry with more sites, more sports to gamble on and more choice than ever before. You can bet on the number of corners in a football game, you can gamble on the number of horses to finish a race or you can gamble how the stock market will finish at the close of play today basically, if you want to gamble on it, there is likely to be someone who will take your bet!
Even though we are starting to hear words of caution from many of the offline casino companies, we have not yet heard similar tones from the online companies. While that is not to say that they will not at some point comment upon falling traffic and customer numbers, the difference between online and offline gambling is becoming more and more prominent.
One possible reason is the fact that you can bet as little as a couple of pound online, without leaving your home, where as if you were going to the Bookies you would likely look to spend more than a few pounds - but as the slowdown continues you may not have that “spare” cash to spend. There are also a growing number of events to gamble on, something which is attracting more and more people online.
Online gambling is still growing at a terrific pace and while it would be foolish to suggest that the industry is recession proof, the signs are that it will perform much better than most other sectors of industry.
