Online Gambling Companies Feeling Pinch?
October 27, 2009
When the economy first tanked the online gambling industry saw a big boost in their revenues. As land-based casinos saw their bottom lines drop many online gambling sites saw theirs go up. Much of this has to do with the fact that it is cheaper to gamble at an online gambling site than it is to go to a land-based casino. Land-based casinos involve travel of some sort and their payouts are not as good as they are online gambling counterparts. In addition, they do not traditionally offer the bonuses and promotions that the online gambling sites do.
In an economy where people were trying to save money yet still want to participate in those things that cause them pleasure the online gambling industry is there to pick up the slack. Initially those within the industry thought that they were immune to the recession because they were doing so well. A recent report shows that they may not be as immune as we initially thought they were.
Several of the largest online gambling sites out there today are reporting a drop in net revenue figures. Party Gaming is easily one of the largest online gambling sites out there today and they have already admitted that their third-quarter results are down from where they were same time last year. Cryptologic is also in down with their quarterly results which surprises many because of the numerous games that they have released as of late.
The online gambling industry is not expected to be down for long as they seem to rally whenever something threatens their revenue source so it is expected that they will offer more promotions and more bonuses to bring back those players who may have decided to go elsewhere. In all likelihood it is a good time to be an online gambling player.
