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 earnings - People are losing their jobs as companies all over the world go into liquidation, these people will be looking to save every penny that they earn so they can feed their families and themselves
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 yet again due to the fear of them losing their jobs they are trying to stay away from the 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 shows you that no industry no matter how small or large 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 gambling only gamble if you are confident of coming away either level or making a profit, if you do not have a clue about how to gamble then read books or go on courses as you do not want to end up losing a fortune during these difficult times.