Gambling & the Recession.
I was wondering how the current economic down-turn affects gamblers. Are people gambling more to try and get themselves out of problems they are in e.g. debts, mortgages and loans? I’ve always seen betting as a more profitable way of playing the lottery. By this I mean you have something like a one-in-a-million chance of winning the lottery, but say if you bet on a football match there is only going to be three possible outcomes (home win, away win or draw). OK your not going to win £14m by betting on Sunderland beating Chelsea at 12/1 from a £1 bet, but by using your betting budget wisely you can get the rewards. I’d rather get that £13 return than chuck a quid on the lottery and get fuck all back. OK its not likely that Sunderland would beat Chelsea but its a one in three chance, but its also not likely that your going to win the jackpot on the lottery. And anything can happen in football!
One thing is certain in all this, there has never been a better time to make your betting pay. Taking that extra 10 minutes looking at a game preview can make all the difference. Being fine tuned is the only way to go. Your not going to make any money whatsoever just chucking a tenner on this and a tenner on that. I wouldn’t say I’m a great bettor. I’m good but not out of this world. I study the stats and make a selection.
Also the bookmakers must be the only industry making money from the recession. Say if people are turning to gambling to make that extra bit of money, then the bookies profits must be increasing. What the bookies pay out during a football season for example, must be nothing compared to what they make. They wouldn’t be in the business if it was. Ahh well what do I know? This depression is a bit depressing isn’t it?
Interesting article mate.
Let me know if you fancy doing a guest post over at my blog. I’m always interested in the psychology of betting but don’t know enough about it myself.