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 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 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 a lower amount of gamblers will be playing, there will be much smaller jackpots as deposits dry up.
So it just shows you that no industry no matter how small or large is safe from the credit crunch. The first wave of the credit crunch has caused a lot of casualties, but I feel the second wave will affect a lot more people.
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.