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As petrol prices rise will more punters stay at home?
There’s new interest in an old(ish) study on the impact of fuel prices on gambling choices this week as the cost of filling a tank continues to climb, pressuring disposable income.
Back in late 2005 when fuel prices in the US soared to what was then considered unprecedented levels of over $3 a gallon, the Las Vegas market research company Precision Opinion conducted a controversial Southern Californian survey that suggested that up to half of gamblers would stop driving to Las Vegas once the gallon price of fuel topped $3.50.
Jim Medick of Precision Opinion postulated a direct relationship between rising gas prices and fewer trips, going on to extrapolate the result to a scenario where gas prices hit $4.33 a gallon, at which point 80 percent of drivers said they would stop driving to Las Vegas. And at $4.97 per gallon, that figure jumped another 10 percent to 90 percent.
About half of all drivers reaching their theoretical limits said they would turn to alternative means of transportation rather than cancel their gambling trips, leaving a still significant number of would-be gamblers who would forego visits to the gambling mecca on a regular basis.
The survey found that younger drivers in the 21 to 30 age group were more receptive to seeking alternative modes of transport than older drivers, and that those over age 60 were more vulnerable and sensitive to gas price increases.
Three years ago, few could have envisaged a scenario where the price of gas went over the $4 a gallon mark experienced these days, and although the “pain threshold” has probably gone up in tandem with recent increases, it could still be having an significant impact.
That begs the question of what it is today, and whether gamblers might turn increasingly to the Internet as a travel-free method of enjoying their gambling?
I’m sure that a lot of people are reconsidering their summer vaction plans due to the rising gas AND food prices. I know that we are!
I don’t mind paying for stuff, but this is getting way out of hand and I’d rather go 70 miles upto the mountains or somewhere nearby instead of flying and use the money saved on the actual vacation.
I’m sure (or hope) that if landbased players know about the internet or are introduced to online gambling that there is a good chance that more of them will check it out for the first time.
On the morning news today they were talking about how the rush hour traffic has dropped off in several states and how people are now car pooling and taking mass transportation so this situation is affecting almost every aspect of every day life. Thank God I work from home! :cappy:
I think that the rising costs of living such as gas & food won’t impact our industry allot because of it being online. If it does it will be positive because people will visit Brick casinos less and us More.
However what it will do is force us to actually back up what we preach. People have been promoting carpools and low carbon footprints for decades now but as soon as the US has to pay over 4 dollars a gallon then it’s a problem. I personally think that rising fuel prices are a blessing in disguise (I do own a vehicle) because it’s a slap in the face that Western Society needs to finally change our ways.
If your children asked you to pay 25$ more a month for cleaner gas/ethanol to fill you tank or $5,000 more for a hybrid or to ride your bike to work it would be worth it just so that they could breathe normally and live to see a polar bear right?Higher gas prices has got to be a good thing for the environment with less vehicles , or more fuel efficient models on the road, but I feel the impact on the rising cost of living is more than most people can absorb. I feel fortunate not to have to leave home to work, and not to have 3,4 or more young ones to feed…..grocery prices are outrageous here.
I feel it will have a positive impact on online entertainment such as gambling.
Not directly related to Gambing, but an interesting read along the same lines: High Oil & Gas Prices Could Boost Internet Says Google
