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stevenwonder

Is gambling ever affected by anything?

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I was doing some research on the gambling and the effects it has during certain economic times and it’s kind of crazy to me that it is unwavering through the harshest of times. Many physical casinos have closed down to the pandemic but, of course, online casinos are unaffected as far as needing to be shut down for health concerns. I put it in an earlier topic about how effected you  would personally be during these trying, unpredictable and unprecedented times but I wanted to do some some further research and I found some interesting facts. Now these facts that I present aren’t based on a pandemic of health nature but more of an economic weakness in a period of time. The only country I could find some good stats on was the United States, but for now, that will have to do. 
 

The last economic downturn of the United States was in 2008, when after due to a housing market crash, stocks plummeted and the United States hit a recession. Casinos and sportsbooks seemed unaffected though as YTD numbers seemed consistent with the previous year, and didn’t see much of a downturn compared to other industries the United States was big in, such as manufacturing and banking. 
 

I believe a big part of why gambling is unaffected is because of the panic such events bring, causing people to be a little more careless with how they try to get their money back. When you lose a lot fast, the first thing in your mind is to gain it back just as fast and the quickest way to do that? Casinos and sports. Knowing that the stock market or any long term investment would take a while to recover, it appears that the gambling industry reaps the rewards of recessions and down economic times. It’s hard to argue against trying something like that because of how much people lose in something that was supposed to be a relatively safe. If your mindset has changed to “everything is losing” it’s hard to come up with a reason not to take a chance on a weekend at the casino or sportsbook. 

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 First of all i want to thank you @stevenwonder for creating topics like that, as we don't see many users in this forum approaching this kind of topic.  

Well actually it seems Gambling is never affected much by economic crisis, especially when it's online. 

In my opinion, there are many reasons that could explain this fact. Gambling is an addiction so if you are addicted, you might gamble even more especially when you have like nothing to lose, we can make a comparison to drug addiction. People tend to consume more drugs during crisis, it's their way to forget their problem and to escape reality.

However in this pandemic crisis, real life casinos are of course affected and sports betting too, as most of sports events are cancelled or reported.

 

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I myself see gambling is a very good place to invest, investing in the sense of planting shares to gambling site owners and sharing the profits. I agree with what you say gambling will not be affected and rarely can be disturbed even though the price of bitcoin changes up and down, I think only in gambling can anyone continue to make or lose money.

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I thing that gambling will never be affected by anything ever. Human is made to go gambling on his destraction and his big success. Not everybody you know what i mean.

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You know where Gambling thrives the most? The country gambling thrives the most is a country where the economy is down and the citizens don't have anything to lose if they don't win anything. (This is just by the way.)

But I don't think online gambling can be affected by anything except there is a hacking what so ever. Actually the only industry that is gaining massively from this recent pandemic known to man is people that invested in gold and the people that are in the gambling industry. I mean people that are the big players in the casino industry. Because people don,t have what they are doing again and they want to make fast money. 

My prayer is that we go back to our normal lives where gambling and visiting casinos were a part of fun rather than a necessity.

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It effecs but not much according to me gambling is all about luck win and loss no matter what's going on outside well I'm not talking about technical issues xD

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On 25/03/2020 at 07:30, stevenwonder said:

I was doing some research on the gambling and the effects it has during certain economic times and it’s kind of crazy to me that it is unwavering through the harshest of times. Many physical casinos have closed down to the pandemic but, of course, online casinos are unaffected as far as needing to be shut down for health concerns. I put it in an earlier topic about how effected you  would personally be during these trying, unpredictable and unprecedented times but I wanted to do some some further research and I found some interesting facts. Now these facts that I present aren’t based on a pandemic of health nature but more of an economic weakness in a period of time. The only country I could find some good stats on was the United States, but for now, that will have to do. 
 

The last economic downturn of the United States was in 2008, when after due to a housing market crash, stocks plummeted and the United States hit a recession. Casinos and sportsbooks seemed unaffected though as YTD numbers seemed consistent with the previous year, and didn’t see much of a downturn compared to other industries the United States was big in, such as manufacturing and banking. 
 

I believe a big part of why gambling is unaffected is because of the panic such events bring, causing people to be a little more careless with how they try to get their money back. When you lose a lot fast, the first thing in your mind is to gain it back just as fast and the quickest way to do that? Casinos and sports. Knowing that the stock market or any long term investment would take a while to recover, it appears that the gambling industry reaps the rewards of recessions and down economic times. It’s hard to argue against trying something like that because of how much people lose in something that was supposed to be a relatively safe. If your mindset has changed to “everything is losing” it’s hard to come up with a reason not to take a chance on a weekend at the casino or sportsbook. 

Perhaps this pandemic may change some people in the way they look at life, where money is not what matters most, coz as you may have watched on TV, other people are regretful of not being able to spend more time with their loved-one who unfortunately is a part of the casualty of this pandemic. Maybe some rollers will just spend more time with their families and not go back to heavy gambling lifestyle. Or it might affect them differently, to yolo more often as they might think that you'll never know when its gonna be your last. 

 

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Well for me gambling will be affected by everything in this world made by us. Yes, I know even we have an outbreak right now online gambling never affected, now we say it's popular. But because of this virus people who want to gamble like me don't have place to make a deposit I think some of you too, so so many Gamblers are not going to gamble but some of us can, the rich one who has a bank account or any account can make a deposit. But what will happened when they loss and don't have enough balance in there account ? And this virus still alive and free ? So ithink online gambling will be affected now :) you know what I mean xD

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I think that is an advantage of online casinos compared to ordinary casinos, especially when physical contact needs to be limited which is difficult to do at the casino.  I can say I can survive the economic crisis, and online casino is superior to both.

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i really do believe the pandemic has affect the online casinos too ! the prices of the fiat currencies dropped and affected the exchanges ! the crypto casinos also got affected, we all have seen how the cryptocurrencies crashed ! so the pandemic affected almost everything !

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very difficult when talking about gambling whether affected by something. every country has different rules. gambling is prohibited in my country, so in my country there are no casinos. so you can say that gambling can be influenced by government policy

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I dont never do any gamble but when i tried for the first time it makes me happy when i won but when i loss i cant control my emotion i keep playing with anger and then i loss all my balance it is always hapen to me. May i think i must to have strategy to play and take a couple percentage profit and dont be a greedy.

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For me it has not affected. Actually I play more as I have some free time now. But consider someone who do not have so much to play on a casino and that family is barely manging the funds. If so he or she will not play much as before due to pandemics or economic downtern as the income of most of the people wil be lower.

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however the financial conditions even in the pandemic dilemma we feel today, the economy is increasingly difficult and the financial and health crisis globally, even the bitcoin exchange rate and also other digital assets move wildly erratically, it has no effect on online casino. I even think that online casino is the solution for some people to improve the economic crisis that hit them.

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