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 lets look at the reasons the gambling sector will end up suffering.
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 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 less people will be playing, it means less people will be depositing funds, so overall this will lead to much smaller jackpots.
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.