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Ernst & Young Report – Gambling to survive tough times

Business analysis experts, Ernst & Young, have issued a report stating they believe online gambling is one of the few industries that can withstand the current economic crisis. The report is entitled ‘All Bets Off For Recession” and contends that traditional bricks and mortar casinos will feel the pinch with entertainment spend going towards high petrol and living costs instead.

Ernst & Young contend that consumers are looking for alternatives entertainment. The draw card for online gambling is that it can be done in the comfort of the home, without having to drive long distances and pay for accommodation. The firm’s Hospitality Head, Cameron Cartmell, said “The online gaming industry is likely to do better than any of the other gaming sectors – it is not reliant on the economy for its growth.”

The younger market has been identified as a possible point of expansion for the online gambling industry at this time – adults between the ages of 20 and 35 are not burdened by mortgages and investment or stock market woes.

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