Online Gambling During the Global Financial Crisis – A Positive View

November 30, 2021 0 Comments

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.

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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 918kiss , 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.

Children can stumble upon gambling sites as they try to search for online games. While this type of game is legal, it is not for minors. Video game sites differ a lot from online gambling sites because gambling usually involves money-winning or losing it. It is then your responsibility to ensure that your child will never gain access to this type of websites. IT can be very tricky but here are some tips on how you can help your child enjoy a safe and fun internet gaming experience:

1. Before you even allow your child to play online, you have to set clear rules on which sites are allowed and which are not. This will significantly limit where you child will play as well as the games that they will play. Impose hard sanctions for any violations so that your child will know that you mean business.

Your rules can also include play time limits, chat restrictions and sharing of personal information. You have to ensure that your child understands that they cannot share too much information online lest they want to be victims of identity theft. Making them understand the potential dangers of identity theft will enormously reduce the chances that they will engage in acts or behavior that is outside of the rules because of the sanctions that will be imposed.

2. You have to remind your kids that it is illegal for minors such as them to engage in gambling online. You can also educate your kids on the nature of online gambling and how it works. Explain to them that these are businesses that are operated online and that these sites take in more money than they actually pay out so there’s no point in gambling as you will have very less chances of winning the prize pot.

3. Monitor your credit card and always ensure that your child never uses your credit card without your knowledge or permission. In order to participate in gambling sites, credit cards are often required and if left unmonitored, your kids can incur huge debts online and ruin your credit rating. It’s just like being a victim of identity theft only this time, your child was the one who used your credit card without your authorization.

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