Online Casinos Help to Survive Recession

In the third fiscal quarter of 2009, the United States economy saw its first growth for two years, causing economic commentators to proclaim the end of the recession. Although at a growth rate of only 0.9%, it was a marked improvement on the previous two years of job losses, small business liquidations and house repossessions. However, as more than one online casino reported not decline but progress, the Internet gambling industry was one of the few that was seemingly immune to the economic threats of recession, for a number of reasons.

The primary cause of this increase in popularity of online casinos is the desire within the average person to trim their outgoings. Realizing that belts needed to be tightened, sensible decisions were agreed by families that unnecessary expenditure would be the first to go. This new attitude, when coupled with rising fuel costs worldwide, meant spending less on gasoline was an economic no-brainer. For the first time in as far as records began, United States fuel consumption almost leveled out, as increasing numbers of families chose to either stay at home or cut out short journeys altogether. Ergo, recreational trips to mom’s local bingo hall or dad’s favorite casino became a thing of the past, and online casinos were the natural replacement.

The second major factor in the increase in online gambling during the recession can be attributed to the human tendency toward escapism, a philosophical doctrine whereby the general populace seeks to literally “escape” from the humdrum of daily life through recreational means. At times of recession, gambling with the potential for huge winnings is one of the most attractive ideas open to the common man and, with daily focus centered around trimming expenditure, this potential has greater allure than when families are thriving economically. The “quick fix” of large winnings has never been so attractive, and hence the games begin.

Overall, the popularity of gambling during the recession is as much due to psychological factors as economic factors, but an increase in traffic is paralleled by an increase in competition. New sites sprang up offering new casino games and bonuses, forcing the more established providers to innovate with larger prizes themselves. In such a climate the growth becomes exponential as one factor feeds another, and the search for release from constriction becomes not merely a utopian hope but a very real possibility.