Will sportsbooks survive? Are they going to start cashing players out in Euros only? How bad do you guys think it'll get?
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Gambling has always survived. I think the books might feel it a bit but those who have figured out how to get money there will keep playing. Nothing like cashing a big parlay to make you forget you can't buy groceries.Comment -
As a rule the gaming industry is recession proof for the most part. The issue of the dollar's value offshore could have some effect the way the transfers and payouts are processed. As always it will be in the houses favor.There could be some slowdown in gaming but other industries will be hit much harder.Comment -
Lots of variables on this one.
For the first time since 9-11,even the local Indian casinos seem to be hurting a little for business especially in the non tourist winter months where I live.There are about 8 casinos within 1/2 an hour to 3 hours from me and they are sending me and everyone else a lot of comps like free rooms and buffets and we aren't even the high roller types.The last time this happened was right after 9-11 when places out in Vegas-Laughlin were giving away tons of freebies just to get customers.I remember staying 9 nights in Laughlin with a free buffet every day for a grand total of $75.
The thing that the casino industry has going for it a little bit is that people on entitlement programs that get printed becoming ever worthless dollars are a big part of their customer base.These people aren't in the real world where they really didn't earn the money so they really don't care if they lose some of it.The federal reserve helicopter has been flying over their houses for years dropping money out.Let's face it,a good majority of people in medicine,construction doing makework public works projects,employed in the industrial military complex and working directly for the government all get this helicopter dropped federal reserve diluted money and the casinos benefited from it.I knew handy 20 something year old kids that were playing bigshots smoking cigars as little as 3 years ago calling themselves housing contractors who would spend big bucks in casinos and what did they care if the over inflated junky houses they made were being bought up with funny money by people getting it from the government.The casinos don't care that it works that way for them either.
I think when you artificially expand an economy as we did,there always comes a day when it naturally will contract.In pro sports it works that way where leagues were awarding too many franchises and the town or state would build the team a tax payer funded stadium or arena.Then when the town finds out that people really aren't into hockey in Florida,it's time to start contracting.Comment -
I remember staying 9 nights in Laughlin with a free buffet every day for a grand total of $75.
Damm that must have been nice lolComment -
Drugs, Prostitution and Gambling have and never will be effected by recessions.Comment
