Bear Market, Bare Cabinets, Big Bets
A September 18th Market Watch report shows that in the past six days more and more people are turning to the poker tables.
It may be for stress relief; it may be to supplement their income; or it may just be a safer bet than anything on Wall Street right now. But whatever the reason, the fact remains the same, in times of depressed economies, gambling and poker rates go up.
More than just an increase in players, one popular poker room has reported that the wagers are also increasing, with the average sums up approximately 20%.
Desperate times call for desperate measures?
Perhaps, but I don’t think it’s as bad as many economists would make it out to be. Aside from the monetary aspect of poker, it’s also a social outlet. And it’s this connection that draws in players just as strongly as the money attracts them. Basically, it’s the best of both worlds.
Another report from CasinoGamblingWeb.com shows corroborates this claim of increased gambling activity in this time of economic crisis.
It’s not that the casinos are making a killing these days,” reports April Gardner, “It’s that they provide the emotional relief thsixt so many people are looking for [at this time].”
I look at it this way. If the American government can gamble the future of it’s citizens and vicariously put undue stress on the citizens of the world with their illogical and unfounded theory based on Bush-ean economic theory (I’ll reserve my opinion on that one), then the citizens can gamble their own money in whatever way they choose.
Hey, it’s cheaper and a whole lot more fun than therapy.
