Three Reasons Why the Credit Crunch is Affecting Gambling

The financial downturn is eliminating a lot of companies. Although the gambling industry is not suffering as bad as the banks and retail outlets it is only a matter of time until the economic downturn 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) Afraid of Risk - Most gambling addicts are not too afraid of losing cash, as they know at the end of the month they will be paid. 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 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. 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.

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