Death of online casinos

[geordiecolin]

I agree that margins are slim, hence that even the likes of Eddie Stobart are struggling to keep afloat.

They need help, I never said any different.

Here is an article that gives both sides of the coin. I personally don't care too much about cloths,bricks, cuddly toys and the like although it is all a huge part of what makes our economy. What I care about is the break down of the ability to provide food and essencials.

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[interlog]

You did not fully understand the distiction that I was attempting to make. A school and its infrastructior is going to be there tomorrow. Once a large % of an industry is out of business is a lot harder to mobilise.

There are, without a doubt, going to casualties but once all of this over the freight will continue to be moved. Somebody will pick up the work.

No different to the airline industry who, too, has been screaming for Government help, to no avail so far.

Government will have to decide who they are going to bail out.... airlines, haulage companies, pubs, cinemas etc.

There is additional stuff that can be done for the haulage industry, such as abolishment of VED for a period of time, reduction of duty on diesel etc.

 

[geordiecolin]

There are, without a doubt, going to casualties but once all of this over the freight will continue to be moved. Somebody will pick up the work.

No different to the airline industry who, too, has been screaming for Government help, to no avail so far.

Government will have to decide who they are going to bail out.... airlines, haulage companies, pubs, cinemas etc.

There is additional stuff that can be done for the haulage industry, such as abolishment of VED for a period of time, reduction of duty on diesel etc.

I'll leave you to read the above because we posted at almost the same time

 

[interlog]

Here is an article that gives both sides of the coin. I personally don't care too much about cloths,bricks, cuddly toys and the like although it is all a huge part of what makes our economy. What I care about is the break down of the ability to provide food and essencials.

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I can only speak from experience, and what I am seeing right now (once the initial panic was over) is goods coming in as expected and going to the shops in a timely manner.

What we're struggling with is getting the manufacturers to keep up with certain lines that people have been hoarding, but that is not a haulage problem more a manufacturing one.

The RHA is doing its job it gets paid to do and that is getting the best for their members. They don't want to see haulage companies go bust partially because it will mean less money for them coming in.....

 

[geordiecolin]

I can only speak from experience, and what I am seeing right now (once the initial panic was over) is goods coming in as expected and going to the shops in a timely manner.

What we're struggling with is getting the manufacturers to keep up with certain lines that people have been hoarding, but that is not a haulage problem more a manufacturing one.

The RHA is doing its job it gets paid to do and that is getting the best for their members. They don't want to see haulage companies go bust partially because it will mean less money for them coming in.....

Lets see how things pan out over the next week or two and I hope that your optimism proves to be correct

* Col rushes off to stick bets on tonights geegees in America before its too late

 

[engtsson7Win]

It's really brave to say that gambling industry will die with this situation. While there is somehting to bet on, casinos and sportsbooks will do the rest.

 

[geordiecolin]

It's really brave to say that gambling industry will die with this situation. While there is somehting to bet on, casinos and sportsbooks will do the rest.

My concern is for the economy and jobs. As things are today will not be what things may become. Believe me this will bite hard

 

[colinsunderland]

From a UK perspective, short term I think there will be gains, a lot of people sitting round with nothing to do. If the lockdown continues much longer though, I think we will see smaller casinos fail. A LOT of people are on 80% wages, no money or Universal Credit, and while short terms they might have cash in the bank to tide them over, I think after a month of not working they will tighten belts and cut back on stuff like gambling. Plus there is already a loss of revenue from no sports betting.

 

[brizman]

Once the powers at be reshape the economy and go to digital currency like they have been planning, online casinos will continue to strive. It may just take a few more months to implement.

 

[News Hound]

Given the worldwide decine in recent months and the impending collapse of worldwide economy as we know it now.
How long can online casinos survive for us all?

A bit late to the party on this thread, but we covered this a few weeks back. If anything the iGaming industry as far as casinos online are concerned, is a pretty robust beast.

Impact on Online Casinos and iGaming due to the Coronavirus

 

[The Dude]

It's like saying the alcohol industry is going to fail. Gamblers are going to gamble, drinkers are going to drink. Hell, in California - weed shops are allowed to remain open since it's considered a necessity.

 

[engtsson7Win]

My concern is for the economy and jobs. As things are today will not be what things may become. Believe me this will bite hard

Yes, but they won't Die. Of course there will be losses, right now because of lack of sports there are already losses but it's about getting in the move.
In any business you can diversify your portfolio in order to survive in the Market. If casinos and sportsbooks focus on that and start investing on an activity that this situation is not affecting, they will survive

 

[geordiecolin]

Yes, but they won't Die. Of course there will be losses, right now because of lack of sports there are already losses but it's about getting in the move.
In any business you can diversify your portfolio in order to survive in the Market. If casinos and sportsbooks focus on that and start investing on an activity that this situation is not affecting, they will survive

I honestly wish I had your optimism. I recognise that financially many of us are not yet feeling too effected. The facts for me given the projections of how long lockdowns will last and the effects on our basic infrastructures will be more damaging than many realise.
I would love to be wrong.
like I said at the start of this thread I would love to hear what a casino rep has to say.

 

[geordiecolin]

A bit late to the party on this thread, but we covered this a few weeks back. If anything the iGaming industry as far as casinos online are concerned, is a pretty robust beast.

Impact on Online Casinos and iGaming due to the Coronavirus

With respect that was from a while ago and things moves on

 

[colinsunderland]

Yes, but they won't Die. Of course there will be losses, right now because of lack of sports there are already losses but it's about getting in the move.
In any business you can diversify your portfolio in order to survive in the Market. If casinos and sportsbooks focus on that and start investing on an activity that this situation is not affecting, they will survive

Not sure how an online casino that relies on customers spending money can diversify into anything else, if people don't have any disposable income. In the UK there were 900000 new universal credit claims in the first 14 days after the lockdown, I believe its almost 1.7 million now. Thats a lot of people with a lot less money coming in. There are also a lot of people on 80% wages, that 20% loss in many cases would have been what they had spare.

I have no doubt, short term, things will be ok. If this goes on for a couple of months, which is likely, then I am convinced we will see the smaller casinos failing.

 

[Playford7]

They will 100% see a bite. Once the universal credit advance payment has gone for those with no job they have a further wait of 4 weeks for the next one. Even then there is a deduction for said advance loan they have taken out.
workers running on less than the 100% wages they are used to will soon also catch up on them when bills, mortgage payments, car finance, gas, electric and sky tv soon start wanting the payments that are owed.
I believe at the moment the casino industry is booming, would be great for a rep or a affy to post some figures but doubt it.
then just like the virus it will level..
then people realise that £400 from universal credit isn’t coming for another month... those in jobs are well less off than the month previously...
The cycle continues and people eventually have less to spend spinning book of dead.
it’s not in anyway sustainable for the industry.
hence the bottom feeders pushing it like it’s 1999 and most casinos to afraid to offer a match option incase they are deemed to of taken advantage of vulnerable people in the midst of the pandemic.
wonder how many casinos are doing affordability checks and sow? They should as Millions whom had jobs dont now, and those that don’t are on benefits....on £400 a month for example on universal credit should mean you can’t afford any luxuries...
Of course this kind of responsible gambling the industry frankly doesn’t give a shit about.

 

[geordiecolin]

The casino industry do not rely on low rollers. It is middle earners and top earners who butter their bread. Given that mid earners will lose their businesses so much will be devestating and those on low incomes have will have to prioritize.
I believe 100% that most will be hardest hit.
As long as I can put the minimum bet of the horses from time to time I always have a pack of cards and I can yank off a few buttons

 

[Playford7]

The casino industry do not rely on low rollers. It is middle earners and top earners who butter their bread. Given that mid earners will lose their businesses so much will be devestating and those on low incomes have will have to prioritize.
I believe 100% that most will be hardest hit.
As long as I can put the minimum bet of the horses from time to time I always have a pack of cards and I can yank off a few buttons

Totally forgot the whale issue col.
That said the steady flow of the low to middle roller must factor.
also a £50 max deposit a day is being touted and also been reported on by many outlets.
it wouldn’t bother me one bit, it’s only a expensive hobby to me not a living.
also miss the horses more, they have personality. Personality goes a long way.
hope your safe and well bro.
ben

 

[geordiecolin]

Totally forgot the whale issue col.
That said the steady flow of the low to middle roller must factor.
also a £50 max deposit a day is being touted and also been reported on by many outlets.
it wouldn’t bother me one bit, it’s only a expensive hobby to me not a living.
also miss the horses more, they have personality. Personality goes a long way.
hope your safe and well bro.
ben

Even a £50 max bet would ruin many casinos today never mind when the economy hits the fan. Personally I have savings but I am looking to stick it into crypto.
I am bored as feck tbh but at leat I have my health,friends and family to communicate with. Many poor souls don't.
I totally agree that more will die because of the lock down that die of this so called pandemic

 

[lewisnadasurf]

Casinos boomed after 2008s recession, there is no way this will kill the online casino.

 

[News Hound]

With respect that was from a while ago and things moves on

2008 was yes, however, having spoken to reps such as the one quoted in the article that was published a few weeks back, so far, no adverse affects, yet.

 

[BrianGhattas]

The casinos themselves, at least the bigger and more popular ones, will survive. It’s their reputations that are dead in my eyes.

 

[geordiecolin]

Oil is now minus dollars per barrel. Are we not witnessing the total collapse of our economic system. Reset anyone?

 

[colinsunderland]

Oil is now minus dollars per barrel. Are we not witnessing the total collapse of our economic system. Reset anyone?

Not really. This is the futures market that expired today. Its back up to around $13 at the moment. The market that expired today was for oil to be delivered to Cushing, which is either at capacity or close to, so you had to go and get it basically. No traders have tankers lying round or any way of getting/storing it, so they had to sell at whatever they could get. However, with a massive oversupply at the moment, no one wanted it, which is why they had to pay people to take it!

 

[colinsunderland]

Decent article here about it

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[johnnybagel]

The oil thing was specific to America wasnt it? Its not a good reflection on the rest of the world or even the rest of the oil industry.
At worst a few smaller brands might go bust but other than that i reckon the online casino industry will do just fine.

Just like the porn and booze industry. Since this pandemic started I have definitely done a lot more wa.... drinking.

 

[geordiecolin]

Decent article here about it

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I read that article amongst a few others. I would never pretend that I understood half of it all because it was all industry speak but I did take a few things from what I read. Russia and China seem to be the ones best placed to thrive from what I see as a global depression once the shit hits the fan- China is already doing well and Russia state they can ride out very low oil prices for years.
@Playford7 What I read was quite doom and gloom for jobs in the oil industry. Is that what you hear? What happens when there are no containers left to store oil? There are very few left already? Will they have to shut down production?

 

[Playford7]

I read that article amongst a few others. I would never pretend that I understood half of it all because it was all industry speak but I did take a few things from what I read. Russia and China seem to be the ones best placed to thrive from what I see as a global depression once the shit hits the fan- China is already doing well and Russia state they can ride out very low oil prices for years.
@Playford7 What I read was quite doom and gloom for jobs in the oil industry. Is that what you hear? What happens when there are no containers left to store oil? There are very few left already? Will they have to shut down production?

Many projects when the oil price falls gets mothballed mate, meaning they run With a small skeleton crew.
I’m on standby at the moment as many platforms need critical safety work doing, also the 3 weeks of projects on hold in the industry has massive knock on effects.
I’m expecting when travel restrictions are lifted to be straight back into work, 3 week trips and busy as hell for at least a year trying to catch up and safety set guidelines that where neglected due to the virus, the HSE can be brutal and oil companies do all they can to avoid them and keep things in check and above board mate.
As for logistics and containers, that won’t be a issue, oil is black gold (not being a racist) many many contingency plans they have.
I’m only a scaff, but As said I’m on standby, soon as this lifts enough to be viable I’ll be on a chopper.

 

[Davey86]

Many projects when the oil price falls gets mothballed mate, meaning they run With a small skeleton crew.
I’m on standby at the moment as many platforms need critical safety work doing, also the 3 weeks of projects on hold in the industry has massive knock on effects.
I’m expecting when travel restrictions are lifted to be straight back into work, 3 week trips and busy as hell for at least a year trying to catch up and safety set guidelines that where neglected due to the virus, the HSE can be brutal and oil companies do all they can to avoid them and keep things in check and above board mate.
As for logistics and containers, that won’t be a issue, oil is black gold (not being a racist) many many contingency plans they have.
I’m only a scaff, but As said I’m on standby, soon as this lifts enough to be viable I’ll be on a chopper.

Do you still receive a salary on standby or furlough tough job on life and all that the working away but you seem to enjoy the time at home

 

[Playford7]

Do you still receive a salary on standby or furlough tough job on life and all that the working away but you seem to enjoy the time at home

I didn’t when this started mate as was due to travel to Aberdeen before the restrictions happened. I hadn’t checked into my flight, which in OCA rules mean I can’t be paid.
Now However I’m on standby, I’ve signed a new contract via the net, so won’t be on full rig rate, just standby.
Which will be about half my hours I’m due daily for 7 days for ever how long I’m on standby for.
It’s ages since I was on it, will have to check my contract.
But expected to fly out possibly as early as next week.
I’m not salaried anymore, don’t work for a major oil company so classed as ‘self employed’ but I fell into a gap due to oca guidelines.

 

[Davey86]

I didn’t when this started mate as was due to travel to Aberdeen before the restrictions happened. I hadn’t checked into my flight, which in OCA rules mean I can’t be paid.
Now However I’m on standby, I’ve signed a new contract via the net, so won’t be on full rig rate, just standby.
Which will be about half my hours I’m due daily for 7 days for ever how long I’m on standby for.
It’s ages since I was on it, will have to check my contract.
But expected to fly out possibly as early as next week.
I’m not salaried anymore, don’t work for a major oil company so classed as ‘self employed’ but I fell into a gap due to oca guidelines.

The one thing that will pick up in this world will be the search the find the exploration of the black stuff! Suppose it’s better to be on standby than nothing bud GL

 

[Playford7]

The one thing that will pick up in this world will be the search the find the exploration of the black stuff! Suppose it’s better to be on standby than nothing bud GL

I wasn’t until last week mate. Luckily had savings and a decent tax rebate to live on.
Sadly some had nothing, and that universal credit looks disgusting.
Hopefully it’ll return to normal-ish soon so People can get back to work.

 

[RickyMicky]

Hopefully it’ll return to normal-ish soon so People can get back to work.

Hope so too. This is totally crazy.

 

[RickyMicky]

Hey guys. How it's going with online casinos? I saw the new modifications in real casino and think that death does not threaten online casinos yet.

 

[geordiecolin]

It was quite interesting to read this thread back and assess how things are now. I now think even more so that we will see the death of most online casinos and all of our abilities to gamble will be seriously cut to very little.
I wonder if any casino reps have heard any rumblings within their companies about the future?

All of what I will point out here can be verified by online searches.

We are being introduced to a variety of digital controls which will become wider and wider in scope and it is happening fast. We have the health passport which digitally tracks your movements. QR codes in order to access shops and public buildings. Many countries planning to introduce a digital ID which will work in tandem with the health passport and which the UK announced the implementation of recently.
Then there is the announcement of introducing a digital currency which will be a programmable currency where they can dictate what you spend your money on. It will also have a social credit system with rewards for healthy living and responsible spending. The uk gov announced recently a war on obesity where families get rewards for what they buy at supermarkets and walking to work etc.

Australia recently stated that they are going to introduce a passport for the internet where if you abuse your internet access then you will be blocked from using it. All of these introductions are being rolled out in various countries and will become world wide before you know it. Algorithms will monitor us then the powers that be will look at and punish us at will- Social media banned or access to gambling sites blocked for spending too much. China are already rolling out tracking and scoring citizens. A persons reputation is scored. It will have a huge impact on behaviours such as law breaking and anti social behaviour. Get blacklisted then your are subjected to a lot of restrictions. In China this social credit system will be nationwide next year.

I no longer think that even using bitcoin will be possible for gambling due to the above implementations as they will simply block you from gambling sites or the internet.
We are going to pay a big price for or mobiles and computers.

 

[The Dude]

No country for old men.

 

[geordiecolin]

No country for old men.

I know what movie I'll be watching this evening

The digital currency once implemented and cash fazed out will mean huge changes. Every penny you earn will be taxed. No cash in hand work. Everything sold online will be taxed. No car boot sales or local buying and selling sites without paying tax. No putting cash in a card for little johnny's birthday.
If I recall correctly the government loses more money in taxes via dodging that they get so it will be a huge bonanza for them.
I have a mate with LARGE B&B in Brighton who pockets more in cash that he does from payment cards.

 

[pinnit2014]

i can see why folk get caught with the proverbial pants down re tax, particular self employed sole traders. In Scotland for example, the SNP are anti business, pro handing cash out like confetti to others, that you can see why folk get disillusioned and start blurring the lines.

Free school meals, my arse. You had em, you pay for them.

Back on topic - yes, the days of the random wild desire will forever be a distant, but sweet memory, coupled with the nice wagering.

 

[TheAddict]

Maybe they'll give the 96.7% version of DOA to the well behaved citizens and tax it like Germany
It might be quite a ride if they push to turn the USA into China 2.0. We might only have spoons, but they don't.

 

[geordiecolin]

Maybe they'll give the 96.7% version of DOA to the well behaved citizens and tax it like Germany
It might be quite a ride if they push to turn the USA into China 2.0. We might only have spoons, but they don't.

America is slowly turning into China 2.0. Laws on free speech coupled with the implementation of the above will mean it would be too difficult to communicate to organize anything that is not compliant.
The difference between conspiracy theory and the truth is less than 2 years these days

 

[TheAddict]

On a brighter note. Don't forget it's Surge day at sky vegas. Just got my 5p.

 

[pinnit2014]

On a brighter note. Don't forget it's Surge day at sky vegas. Just got my 5p.

5p?

Rich bastard

 

[satchnz]

On a brighter note. Don't forget it's Surge day at sky vegas. Just got my 5p.

I got…..W…..I…..watermelon. The watermelon stayed a watermelon. I wish I got 5p ?

 

[geordiecolin]

Sorry to be updating this but this could be a sign of things to come.
If you own your house and are struggling to pay your mortgage then Lloyds Bank are the first of probably all muscling in to take your home and rent it to you.
With ferlough ended and folk going to struggle more and more we are heading into a financial crisis. Inflation ahead as well as price rises the UK,Europe,America and most of the World are heading towards very tough times. Interest rate rises will hit mortgage payments,credit card payments and lone payments. Social care increases next year and local councils needing to increase local taxes to balance their books after this past near 2 years of loses.
So Lloyds are looking to buy 50,000 properties. They already provide 25% of mortgages. They will not even have to wait for you to miss a mortgage payment before the bank notices their plight. Reducing a loan payment or anyone by extending the terms or paying minimum payment would be enough for them to contact them to settle terms on the mortgage as long as they agree to become a tenant. And the deal could see them do a deal that allows the bank to buy for less than it is worth depending on various factors( In America they have often paid more than its worth recently)
Because banks are about to venture into owning property even new builds will be their target. Buying up properties before anyone else can buy them-or the bank bidding for the same property that the their client is bidding on.

"You will own nothing and be happy"

 

[goatwack]

Well that's put me right off my quiche

 

[geordiecolin]

Well that's put me right off my quiche

I don't think it is about left or right or anything in between. World leaders have held various secret meeting for a very long time which are well documented.
Unless you are happy to be in situ I would not be happy with how the world is turning

 

[goatwack]

I don't think it is about left or right or anything in between. World leaders have held various secret meeting for a very long time which are well documented.
Unless you are happy to be in situ I would not be happy with how the world is turning

I don't think anyone's enthused at the current state of the world, I still think the 2030 projections are unrealistic. You could already argue that most people don't own anything, whether it be things purchased on credit, streaming entertainment through their devices, renting their property etc.

In fact I'd say the majority of people own nothing and are under the illusion of being happy, by being distracted with their various virtual gizmos and whose only meaningful interactions come via their Social Media 'friends'....

 

[geordiecolin]

I don't think anyone's enthused at the current state of the world, I still think the 2030 projections are unrealistic. You could already argue that most people don't own anything, whether it be things purchased on credit, streaming entertainment through their devices, renting their property etc.

In fact I'd say the majority of people own nothing and are under the illusion of being happy, by being distracted with their various virtual gizmos and whose only meaningful interactions come via their Social Media 'friends'....

I will come back to you with some bollix meaningful stuff to test your argument mate. But I'm off to slot before bed otherwise I would spend the night wasted on something much less meaningful that defeating Videoslots!

 

[geordiecolin]

I don't think anyone's enthused at the current state of the world, I still think the 2030 projections are unrealistic. You could already argue that most people don't own anything, whether it be things purchased on credit, streaming entertainment through their devices, renting their property etc.

In fact I'd say the majority of people own nothing and are under the illusion of being happy, by being distracted with their various virtual gizmos and whose only meaningful interactions come via their Social Media 'friends'....

I had thought about replying with so much to this post but it would see me probably getting bogged down in endless posting. I would say that the way things are developing will have its good points. With everything you do being monitored so much crime will hit rock bottom as there will be little way of getting away with it and punishments would be harsher than prison.
Also as shocking as it may seem given my posting history I actually agree that this world can not sustain the endless growth in its population for a number of reasons. One is environmental. Not forgetting that we do not have endless wars anymore which had the desired effect of keeping numbers down.
But I am not a fan of Bill Gates still.

 

[Webzcas]

Sorry to be updating this but this could be a sign of things to come.
If you own your house and are struggling to pay your mortgage then Lloyds Bank are the first of probably all muscling in to take your home and rent it to you.
With ferlough ended and folk going to struggle more and more we are heading into a financial crisis. Inflation ahead as well as price rises the UK,Europe,America and most of the World are heading towards very tough times. Interest rate rises will hit mortgage payments,credit card payments and lone payments. Social care increases next year and local councils needing to increase local taxes to balance their books after this past near 2 years of loses.
So Lloyds are looking to buy 50,000 properties. They already provide 25% of mortgages. They will not even have to wait for you to miss a mortgage payment before the bank notices their plight. Reducing a loan payment or anyone by extending the terms or paying minimum payment would be enough for them to contact them to settle terms on the mortgage as long as they agree to become a tenant. And the deal could see them do a deal that allows the bank to buy for less than it is worth depending on various factors( In America they have often paid more than its worth recently)
Because banks are about to venture into owning property even new builds will be their target. Buying up properties before anyone else can buy them-or the bank bidding for the same property that the their client is bidding on.

"You will own nothing and be happy"

The big issue and the elephant in the room is the rate of inflation, not withstanding the fact that the furlough scheme has ended, the universal credit uplift payment of £20 a week has ended and the increase to NI contributions just voted through.

To stop inflation getting out of control, the BoE will have to raise interest rates. We have all been used to extremely low rates since the financial crash in 2008. Don't be surprised if it rises a couple of percentage points over the next 18 months.

Those on variable tracker rate mortgages might want to start thinking about locking down a fixed rate deal.

I have also read that another financial crash is imminent. With govt support all but now removed, it could be trying times for a lot of people in the near future