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I was telling someone what I did today and they asked if business was slow because of the recession. It kind of got me thinking.
Do you think that online gambling is a recession proof industry? Unlike Vegas, which was hit hard by the recession, there are no travel costs involved. All you do is sit, click, and play.
Some people say that other niches like tobacco, alcohol, and adult are typically recession proof – what are your thoughts?
I think online gambling can be classified as recession proof. If online gambling was not restricted by any governments, it would thrive and keep getting stronger. There is something about it that makes it irresistible to players. Its easy to access, loads of fun, and you have the chance to win a lot of money. Maybe greed is a more powerful emotion than the fear of a recession? lol
I think to a point it is recession proof. True gamblers will continue to gamble but the casual player will be lost. I’ve seen drops since the end of 2010 and I’m sure some others have as well but in this industry it’s hard to tell why sometimes. Govt interference, processing issues, casino’s going rogue, etc.
I don’t think Vegas was hit hard by the recession. I think Vegas was hit lightly by the recession then hit hard by its poor reaction to said hit. Increasing prices and lowering quality isn’t the answer.
Gambling seemed to thrive through the last recession. I think our current problems are processing issues and again programs reacting poorly.
@bingoadvantage 235834 wrote:
I don’t think Vegas was hit hard by the recession. I think Vegas was hit lightly by the recession then hit hard by its poor reaction to said hit. Increasing prices and lowering quality isn’t the answer.
Gambling seemed to thrive through the last recession. I think our current problems are processing issues and again programs reacting poorly.
Vegas was hit very hard by the recession, I was there and the place was empty despite very attractive room rates and promotions. The biggest reason for it was big companies pulling back on annual conferences and conventions.
You’re right in the quality of service going down though. I’m also a bit stumped by what they’re currently doing with room rates being sky high. I’m flying out to Vegas next month and I’m shocked to see that none of the Casino groups are giving me free rooms. My theory is simple, no free room, no big bets.
Starting to agree with the crowd. I think that online gambling is recession proof. However, I do think there are peaks and lows throughout the year with seasonality. It’s all about knowing your audience and delivering them what they want.
Winning big is probably a dream that will only spread during recession times. Those who can might cut down on gambling expences, but others will gamble more. As a gambling affiliate this should be good for business, but I don’t like to think about it this way to be honest…
I noticed, from an affiliate and an operator stand point, that we continued to enjoy growth. I think what happens is, instead of going out, people stay at home for entertainment. And the computer is now days an entertainment vehicle for people, not just the TV.
So people jump online, start playing poker, casino, bingo etc.. another form of entertainment.
No, It is not. Consider the facts; most of the established online casinos are owned by the business groups which have other investments as well. The casinos can be successful when people must have money, time and of course the job for them. In changing times, the online casinos are also being restricted. The recession hits one and all. There are many online casinos which are not even successful when the economic difficulties are not in sight. There is some connection and recession is one of the indicators that may point whats happening in the field.
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Casino Writer with 3 Years of Experience
++++++++++++++++++++++++++++++@Rak 235876 wrote:
… I think what happens is, instead of going out, people stay at home for entertainment. And the computer is now days an entertainment vehicle for people, not just the TV.
So people jump online, start playing poker, casino, bingo etc.. another form of entertainment.
I would feel much more comfortable, if this is the reason for people playing more in recession times. Sounds reasonable.
@peaceful_soul 235889 wrote:
No, It is not. Consider the facts; most of the established online casinos are owned by the business groups which have other investments as well. The casinos can be successful when people must have money, time and of course the job for them. In changing times, the online casinos are also being restricted. The recession hits one and all. There are many online casinos which are not even successful when the economic difficulties are not in sight. There is some connection and recession is one of the indicators that may point whats happening in the field.
You make a good point. I guess, it can be seen as recession proof for the more established brands, but you’re right there also has been many newer and/or yet to be established brands that were forced to shut down,
I do think that the online gambling business is more of an anomaly though, since many of the larger brands actually thrive when the rest of the economy is down
