Las Vegas has always been the epitome of the high life in terms of gambling. However, in recent months, most casinos along the Vegas strip have reported a decrease in customers and profits. This is the first time in decades that so few people have visited “Sin City”. The economic recession can be blamed for this downward spiral, but there seems to be a flip side to this story.
More often than not, gambling institutions – both online and land based – are clumped together as a singular entity. However, where land based casinos have lost out in recent months there seems to be a trend towards online casinos picking up business. Although the decline has been felt across the entire industry, there are some online casinos which have reported growth amidst a lot of economic haphazard.
Online bingo, for instance, has grown between 30% and 60% in recent months. This growth is expected to continue well into 2010. Online poker rooms have also recorded single digit growth in terms of traffic. Although this is not the growth that online casinos would want in an ideal world, any growth during present times is considered rare.
There are several reasons for the decrease in land based casino traffic – most notably the costs of travel and accommodation. There is still little to compare online and land based casinos with regard to human interaction, but when times are tough and people wish to gamble the first thing that is cut out of the budget is the fluff. In gambling terms, this would mean travelling to Vegas. Home, at the end of the day, is still cheaper.