Online Bingo and the Recession

Online Bingo and the RecessionAll indications are that the global economy is finally improving. In the United States unemployment is down and housing prices are beginning to climb. In the Euro Zone Germany has had a strong recovery and the panic over Greece and Spain seems to have disappeared. In 2008 the economy was at its lowest on both sides of the Atlantic. Newly elected US president had inherited a recession from the previous Bush administration and many were pessimistic about the future. There was one bright spot: online gambling. According to the GBGC (Global Betting and Gaming Consultants) 2008 was a very good year and the online gambling industry grossed about $20 billion for the year.

During the great depression of the 1930’s the economy was in dire straits. Despite the economy off track betting generated millions as people tried any method they could think of to survive. At the time there was a rumor that garment businesses hired professional gamblers to go to the tracks to make money so the garment businesses could survive. The rumor turned out to be another urban myth.

Land based casinos are seeing fewer players even as the economy improves. High rollers are staying home or are taking their business to online gambling sites. Atlantic City casinos are in real trouble. Many had hoped that the new Revel casino would turn things around but industry insiders say that the upscale casino and resort may file for bankruptcy sometime this year. Gas prices are at an all-time high and many players are staying home until they are sure they will not lose their jobs.

While people are staying home they still need entertainment and online bingo and gambling are a perfect solution. Online bingo has been one of the lucky recipients during the economic slowdown. Online bingo is very affordable and easy to play. Players love to play bingo for entertainment and the chance of winning a jackpot. Because of the low cost of bingo games it is the ideal game in difficult times. Bingo also provides a diversion from the difficult economy. When times get rough most people turn to inexpensive home based forms of entertainment.

In the 30’s people affected by the depression went to the movies to forget their troubles and today people play inexpensive games on the internet. The bonuses and promotions at online bingo sites make the games even more affordable for cash strapped players. Since more people are playing online bingo the jackpots have gotten much larger. Throughout the global recession online bingo has provided inexpensive entertainment for millions and now that the economy is turning around bingo operators expect even more players.

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