Money Troubles Reach All, From Vegas Casinos to Local Bookies
Just as all other forms of business seem to be in a major economic downturn, so too is the action handled by bookies across the country. One such gambling enterpreneur, who will be referred to as Sam, said his business is off fifty percent.
Sam said that the present time is usually near peak action for the year, as both college and pro football are fully underway, and baseball is entering the playoffs. But this year, his phone doesn't ring like it has in the past.
Where answering calls used to take up his entire weekend on Saturday and Sunday during football season, Sam now finds himself going to lunch after the one o'clock kickoffs and not having to answer the phone for sometimes up to an hour.
Sam also said, "The guys who do play have such a small budget, they end up betting crazy combinations of teasers and parlays, to try to win something sizeable from a small wager. Unfortunately, those are the worst odds, and so more of my steady players have lost their budgeted money and had to quit."
Considering that much of the action laid on bookies is on credit, gamblers not playing indicates not only a current shortage of funds, but no expectations of change.
Casinos are empty, slots are silent, and even the great American pastime of sports wagering is slowed. Hunker down, this might be a scary ride.
