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 look at the reasons the gambling sector will end up suffering.

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 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 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 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 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.

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