Inflation Not Stopping Casino Bettors From Playing
iBET ETF Insights: As inflation continues to be a rising topic among gas, food, and airfare you would think its impacting the casino industry but that would be incorrect. A survey from PlayUSA asked 600 adults how inflation has impacted their gambling ability and based on the results it may be somewhat reducing their spending budget but it’s not holding them back from going to casinos. The numbers show that 42% of bettors said their gaming frequency was unchanged when compared to the last six months and 35% said they’re gambling at the same rate as before Covid-19. Casino revenue numbers from the Pennsylvania Gaming Control Board show that revenue in October 2022 grew 10% when compared to May 2022 and the October numbers posted record gaming numbers for the state. Overall the consensus seems that gambling is somewhat “inflation proof” as bettors will continue to play even though they may be reducing their limits.
