Recession could it affect the gambler?

[NewOrleans]

Since people are earning smaller paychecks and have a hard time getting loans and yada yada yada,I was wondering could this cause casinos to lower the payout rates?Seems everyone is getting slaughtered lately and also are the paytables being nerfed?

[Paul@JetCasino]

It's all relative - so long as people are playing, the payout will remain balanced.

[AussieDave]

From an aff point of view I've lost a BIG whale in the last 2 months. (average $50K drop a month).

On the flip I've gained more mid sized players ($3 - 5K drops each month).

I don't think the recession will affect pay-outs per say.

But maybe software providers that earn royalties (& or) casinos that have pulled out of countries due to the UIGA, could lend itself to speculations that games have been tweaked to lessen the cash loss. Which would retroactively affect the pay-out %.

Some cynical food for thought

Cheers
T

[uungy]

It's all relative - so long as people are playing, the payout will remain balanced.

This sounds like all the other bigger companies that are trying to "fight through" the recession.

Won't companies ever learn, that putting up prices means maybe a larger profit, but buyers will end up purchaing elsewhere cheaper, so smaller revenues.

The same really is here. If the payout is reduced, eventually players will no longer play, so there will be a smaller amount of players.

I think using common sense is all thats needed, and sometimes getting through the recession without major profits is an achievement on its own

[kmay87]

It could also be seen, albeit negatively, that people are going to use casinos during the recession even more in the hope of a win to help relieve things.

Of course we all know this shouldn't happen, but you can't help but think some will try it.

[tombee]

I have got the feeling that the poorer a country is, the more lotto and other means of gambling are being practiced. I've been too poor countries where you can buy lotto tickets everywhere. So maybe indeed, the lesser money people have, the more they gamble hoping for that life changing win. On the other hand, our national casino (Holland casino) is losing money last couple of months.

[love2winalot]

Hiya: The Casino's here in Vegas are getting killed. MGM just sold Treasure Island, and are ready to sell another property they own. Construction on New Casino's have almost all stopped. Station Casino's is going to file Bankruptcy, not to close, but to re orginise, to help with their deps.

Hmmmmmm, No single 0 Roulette tables, 6/5 blackjack instead of 3/2, Tighter slots, What could have gone wrong???????????

I do not see it affecting payouts on the internet, but affecting bonus offers, lower table limits, the max money you can get paid in a week/month, and like that. All of this make the current players a Casino has even more valuable. Those that survive took care of their player base, and those who did not squeezed their player base for every last penny they could get before they all left.

[carjaw]

Dare i say it - but i have written a paper on this very subject. Vegas and Macau for example are showing that they are not recession proof (certainly not as recession proof as once thought). Increasingly individuals are turning to their computers more and more. Global Betting and Gaming Consultants (2009) shows that entertainment choices are developing due to economic pressure, leading to more people deciding to stay home and look to computers for leisure activity. The consultancy argues that Internet gambling offers convenience, choice and value desired by modern consumers. 2010 promises to be as good or better for Internet casinos due to several legal changes which should boost available markets. For example, France has yielded to pressure from the European Commission to open up to competition in online gambling. The anticipated repeal of the UIGEA by the US and the official resurrection of the US market will boost the market further, however, even though there is currently the payment ban in place against online casinos, US patrons still account for half of all Internet gambling revenue (Lewis, 2009). With greater familiarity with Internet gambling sites and the security of impending US regulation to protect consumers, the numbers of Internet gamblers could only expand, perhaps creating a permanent shift in preference for Internet gambling over traditional venues that may last beyond economic recoveryThe Economist (2009) reported that cyber-hedonism (which inlcudes internet gambling) might even be considered a cheap, easily accessible diversion from the discomfort of modern living, particularly for those experiencing the negative effects of the recession. As for comments effecting payout rates, I do not have the knowledge to comment.

[NewOrleans]

Yes I did notice that the maximum bets on classic blackjack have dropped to 63 which is a very weird number for a limit...why 63? why not 60? That means it was reduced by a % most likely and all the other limits were reduced I noticed!
Very good observation

[love2winalot]

Hiya. Maybe becuse 1-2-4-8-16-32-"64", hehehehe.