Is US gambling in a slow down?

A new by New York-based Moody’s Investors Service is telling us that there are several factors combining with the “economic slowdown and possibility of a long-term, consumer-based recession” which will cause a negative impact on the US gambling industry –including the online gambling industry which was so badly affected by the implementation of UIGEA.

From the report’s author:

“Declining disposable income of potential customers and increasing travel costs are lowering overall visits and spending per visit in many gaming markets,” said Keith Foley, Moody’s vice president and senior credit officer.

For the discerning online bingo games operator, the part about increasing travel costs causing players to stay at home screams ‘opportunity!’ Moving to an online solution for their gaming needs is the obvious trend here facing the overall gambling industry.

However, the fly in the ointment is the obstacle of UIGEA which stops us UK-based online bingo halls from operating in the US market. Until this heinous piece of legislation disappears, we’re not going to see any major uptick in dealing with US customers.

So what is the state of things?

Online bingo industry observers will be aware of efforts in the US to change the emphasis away from criminalizing online gambling and instead looking for ways to regulate the industry which would lead to tax revenue benefits. With the threat of a major recession hanging over their heads, I hope, along with the rest of the bingo online community, that US legislators will see the sense of this.

In an ironic way, a possible downturn in the US overall gambling industry may be one of the major sparks in convincing US legislators to scrap UIGEA.

Written by Bingo Lady