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Online Gambling Revenue Showing a Uprising Increase During Bad Economic Times

25 Jun

With the worldwide recession happening, you would think that no city or business on earth is immune from its effects on us all. Big Companies like AIG, popular restaurants, and even the Gambling entertainment hotspots like Atlantic City, Las Vegas and even Monaco have felt the sting of this massive economic downtown. No matter where your business is, you are struggling to make ends meet unless you have an online gambling business. When online gambling first came about in the late 1990s it exploded on the scene with revenue charts in which the arrows were almost vertical.

Everybody was either gambling or opening up an online gambling site themselves. When the recession started to hit ,many people in the online gambling industry were fearful that it would hit online casinos hard because of the fact that gambling isn’t essential to living like food or homes were, but the projections coming in for 2008 has started to show a different story. What it has shown is that online gambling i is much more resilient then people previously thought it was.

A new study of online gambling revenue and expansion proves this to be true. This Study, which was done by well known gambling adviser Marco Felice Baranzelli shows that while land based gambling operations are forecasting an expansion rate of 2.2% yearly from 2007 to 2012, online casinos are showing an expansion rate of over 10% with online poker leading the way as it is showing a 16% year over year expansion rate followed by the online casino industry showing a 15% year over year increase while sports betting is lagging behind with a modest but still strong 11% increase.

So as you can see, while the whole world is being hit by this financial downturn, online gambling has shown its resiliency. All of this points to the fact that we should start seriously thinking about making online gambling legal in the United States in a way that the government can oversee and tax the revenues of online gaming establishments and the profits that players make, and use that money in a constructive way to help pay for the bailout that President Obama is proposing.

I am interested in writing gambling related articles about things such as Online poker rooms and Free Online Casinos.

 
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Online Gambling During the Global Financial Crisis – A Positive View

13 Jun

The online gambling business is to be spared during these tough economic times and will continue to grow at double digit year on year percentage rates. This statement comes from a recent study displayed to the public right before the global financial crisis hit the world stage. A prophetic study this, as weeks later the world began to exert the economic age of turbulence predicted by the wise and now retired FED chairman, Alan Greenspan.

We live in tough economic times, where a simple bubble burst or bank breakdown has strong worldwide ripple effects which shows our interconnectivity and economic frailty in this global marketplace of social paranoia, at least in the financial speculation of the human psyche. Major banks close down such as the renowned Lehman Brothers, governments emerge to form rescue packages and purchase equity in places such as Goldman Sachs (one of the investment banking elite), and major corporations and even sports authorities fire workers such as Volvo and the NBA.

However, few industries are meant to benefit from this economic debacle, and this is the online gambling sector. Before the crisis, one would walk into marketing research firms and ask for an industry report only to see positive growth curves for the industry in terms of forecasts, and positive pro forma financial studies. Believe it or not, this is still meant to happen, and here is why. Punters will always continue to place bets, no matter the volume, it might be less than before as they will cautiously view economic downturn as a global recessionary practice in their expenditures, or they might spend more as they need to break even and hope that the online gambling endeavor will help them make ends meet.

Clients with an already addictive personality will continue to place bets. Wealthy gamblers will still make their usual monthly allotments into their gambling investments. Masses will NOT drive, fly, take public transportation to their favorite sports books or casino destinations, and instead will opt for an easy to use alternative such as betting from your PC at home or work given lower costs such as cheap broadband and no need to spend on transportation and extra costs, ease of use, and quickness combined with the safety these worldwide brands now offer the public. With the smoking ban on many brick and mortar establishments, gamblers will also take their activities online.

These are the main reasons the sector will now prosper. Some speculators even state the industry is in for a major growth due to these circumstances, and in five years, the industry will showcase top notch performance in terms of volume growth. Major gaming corporations are displaying positive value in their stocks on major world markets therefore displaying industry confidence. If Obama wins, the USA might re-open its online gambling doors yet again as the Senator has voted in favor of recent bills aimed at regulating the industry, and this will surely favor major betting operators not only in industry volume growth terms, but in financial retributions.

Written by Carlos Fernandez. Find the latest information on Free Bet

 
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Casino Comps During the Recession

21 May

Many people have asked how this recession has affected casino comps (free stuff). The answer is tricky because not all casino comps have been affected the same way. Also, not all casinos share the same philosophy about comping in the first place. Let me explain…

Las Vegas and Atlantic City, the two largest gambling destinations, have been hit the hardest by the recession. These two cities rely on people from outside the immediate area to come to town and stay overnight. During bad times, fewer people travel to resort areas. Casinos that draw from the nearby population, that is, casinos on Indian reservations, center city casinos and riverboat casinos, are experiencing a smaller downturn. They do not have to attract players from out of state, let’s say, to survive.

To combat this problem, some casinos in both Las Vegas and Atlantic City will increase all their comps to attract more people. But some casinos will increase their comps only on slot machines. They feel the table game players expect less comps than slot players. It is easier and more effective to advertise greater slot comps. Certain casinos in Atlantic City gave away as much as 5X slot dollars during October and November. That is, if you earn $100 in one day, they will give you $500.

This appears great on the surface, but the casinos don’t give something away without getting something back. If you play a $1 machine it may be set to a 96% return. Let’s say for the next 30 days you get 5X slot dollars. All the casino has to do is lower the return to 95%. This makes up for the increased slot dollars and you’ll never know it.

Some casinos take a totally different approach during bad times. They will tighten their belts and reduce the comps, no matter what the game. This is easily achieved by lowering the theoretical win on table games, which in turn lowers the amount of the comp.

Some casinos, like those in the Caribbean islands, rely more on seasons to succeed. The Bahamas, Puerto Rico and others are completely booked from November to April. During this period even the best players are comped less because casinos will be filed with paying people no matter what. In other words, the demand during this period is so great a recession doesn’t matter.

However, April through November, especially the summer months, the comps are more liberal in the Caribbean. This is because the demand is not there. During this time Caribbean casinos run package trips, including airfare, and you don’t even have to gamble. This is because they make enough money during their peak period without much comping to carry the off-peak period with liberal comping.

Keep track of the different comps. Most casinos advertise when they increase slot dollars, but you may not know about other promotions or giveaways during slow economic times unless you ask. If you need to, go to a casino host, or customer service and the marketing department for information about special promotions. They want your business, especially during tough times. Make them stretch to get it.

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http://www.leonardbenson.com

 
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