The credit crunch is eating away companies all over the place. Although the gambling sector has not been hit as bad as the banks and retail outlets it is only a matter of time until the economic crisis catches up with them. So lets take a quick glance at why the gambling industry will end up suffering 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 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 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 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.