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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 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) 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 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 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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This entry was posted on Friday, May 1st, 2009 at 5:31 am and is filed under Casino Gambling. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.