Online Casinos and Lotteries Grow, Gambling is Recession-Proof
The Bradley Theory, that true gambling ventures retain their recession-proof quality despite the revenue declines at Las Vegas casinos, was backed again by more empirical data. Lottery officials at several states around the United States reported rising sales over last year's figures.
Meanwhile, several studies released recently have global online gambling continuing to grow at a prodigious rate. Internet casinos, of course, are not tied to other forms of business, being strictly gaming concerns.
Sherman Bradley, Online Casino Advisory's primary gambling analyst, postulated that, by diversifying their product, large casino companies unintendedly shed their recession-proof status, as they were no longer strictly gambling enterprises.
Bradley argues that by making hotel, retail, restaurant, and merchandising arms important as revenue sources rather than enticements to draw gamblers, the casinos have exposed themselves to the vagaries of the economy.
Since Bradley advanced his theory, mainstream publications like BusinessWeek have offered similar reasoning, as well as analysts for Morgan Stanley and GoldmanSachs.
Demonstrating that gambling in a pure form is not in decline, Missouri lottery tickets brought in 6.5 percent more revenue than in the same months of 2007, climbing to almost a billion dollars.
New Jersey sales increased almost as much, jumping 6.3 percent to a revenue total of $2.5 billion. Arizona reported a rise in sales of 2.3 percent.
Of course, if the New Jersey lottery first offered you a nice steak dinner to come play the lottery in New Jersey, then decided to make some money off that steak and charged you an extra fifty bucks to eat the steak that came with lottery tickets, the lottery might slow down too.
