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Are soaring gas prices good for online gambling?
There's new interest in an old(ish) study on the impact of fuel prices on gambling choices this week as the cost of filling a tank continues to climb, pressuring disposable income.
Back in late 2005 when fuel prices in the US soared to what was then considered unprecedented levels of over $3 a gallon, the Las Vegas market research company Precision Opinion conducted a controversial Southern Californian survey that suggested that up to half of gamblers would stop driving to Las Vegas once the gallon price of fuel topped $3.50.
Jim Medick of Precision Opinion postulated a direct relationship between rising gas prices and fewer trips, going on to extrapolate the result to a scenario where gas prices hit $4.33 a gallon, at which point 80 percent of drivers said they would stop driving to Las Vegas. And at $4.97 per gallon, that figure jumped another 10 percent to 90 percent.
About half of all drivers reaching their theoretical limits said they would turn to alternative means of transportation rather than cancel their gambling trips, leaving a still significant number of would-be gamblers who would forego visits to the gambling mecca on a regular basis.
The survey found that younger drivers in the 21 to 30 age group were more receptive to seeking alternative modes of transport than older drivers, and that those over age 60 were more vulnerable and sensitive to gas price increases.
Three years ago, few could have envisaged a scenario where the price of gas went over the $4 a gallon mark experienced these days, and although the "pain threshold" has probably gone up in tandem with recent increases, it could still be having an significant impact.
That begs the question of what it is today, and whether gamblers might turn increasingly to the Internet as a travel-free method of enjoying their gambling?
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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