Online Poker Revenues down
According to the Web site Gambling911, revenues for casino and online poker are down thus far in October, primarily due to the bad state of the world economy. The problem may be driven by fears of a recession and job loss or it could be that online poker rooms are having a tougher time this month with processing new signups, the site reports.
Gambling has long been considered a “recession proof” industry. That may still be the case with web-based gambling, but Las Vegas was hit early on in the crisis with a number of casino companies realizing substantial losses. The problem with Vegas could very well have stemmed from the high price of gas. Escalating fuel costs also resulted in airline fare increases as well as reduced flight schedules in and out of Las Vegas.
Some players have taken note of the reduced numbers taking part in poker games at the Borgata in Atlantic City. In Europe, the online gambling arm of brick and mortar businesses was expected to help some of Great Britain’s biggest bookmakers weather the recession that has already cast a dark cloud over that nation.
It will be interesting to see if this trend continues if the world economy remains in a slow state.
