Is The Global Depression Affecting Online Gaming Revenues

[Captain]

I have been very busy following the stock market (doing some day trading) crazy as it may seem. The stoke market should already be trading down around 6000 or lower base on corporate earnings or lack there of for the 4th quarter. The first quarter earnings for 2009 are going to be even worst. Las Vegas and Atlantic City casinos are going broke.

My revenues online are going down and I know it is from people cutting back spending.

The question is how is this effecting online gaming revenues?

I know some will think the Captain is not drinking for once.

[pgaming]

Hey Capt if anything my revs are way up compared to last year.

greek39

[Betpartners]

My main business is advertising and i got to be honest we have been absolutely hammered, advertising revenue has taken a serious nosedive.

Now we work mainly in the sportsbook industry in Europe, very little of my work concerns non sportsbooks and so maybe casinos and poker are different but i am of the opinion that this depression will continue and we will all start to feel the effects.

I have some solid affiliate accounts and if it was not for them we would be in a bit of a pickle but i fear even they will get hit soon.

The industry will of course survice and probably grow but imho at a lower rate than before and with more people entering it thus casuing a contraction for everyone.

This depression looks like being a monster.

[Doolally]

Revenues are definately down on last year and I reckon we'll see another year of the general sentiment yet. Play your cards close to your chest for a while and ride out the storm - it'll all come good in the end.

I don't think you're mad day-trading the markets just now, there are 10-20% swings up and down on a regular basis just now with some stocks - ripe for the taking and very predictable. Just wish I had a little more free cash to play a little more.

[NLP-GOD]

Doing slightly better than last year, the MGS pullout got us much worse than the economy.

[casinoranking]

I think this is the opportunity of a lifetime to make a killing on the stock market but I seem to be the only one with that opinion.

[Captain]

Thanks everyone for your input so far. Below is new article about this situation we all find ourselves in.

Crisis Worse Than Great Depression?

Hey CasinoRanking,
I do not recommend going long in this market right now. There are to many variables and it's not clear what is going to work if at all. Citi Bank and Bank of America could be nationalize sometime soon. They are both insolvent and with the continued downturn in the US and worldwide economies they very well maybe nationalize soon. What I have been doing is fallowing a group of stocks and day trading them on a daily basis. Sometimes I will buy up to 6,000 shares of one stock on a downturn and sell the stock in as few as 1 minute making a profit. The stocks I trade have a high daily volume and are companies that are in fairly good shape considering. I never hold a stock over night or the weekend. I also place a close stop limit as not to lose much should the stock not move in a profitable direction. This can be nerve racking as well as exciting.

My thoughts on the stock market is it is going to continue to go down to maybe Dow 6000 or lower in the coming weeks. There is no positive news I see that is going to prevent this in the short term. Until we have a quarter of more positive corporate earnings we will not see the bottom.

I am worried we have not seen the worst of the situation yet. To much damage has been done and nobody seems to have a good answer to the problem. I know I don't.

Again thanks to everyone for there input. Looking forward to more posts on this subject.

[casinoranking]

I dont think going long now makes much sense either.

But I do believe in bargain shopping. When a stock is selling for 5% of what it was selling 2 years ago I see it as an opportunity.

I do think if someone can time the market and buy when the market is at its lowest point then it can be golden.

Even if someone bought now and rode the wave all the way down and then back up I think they would still end up ahead , but obviously its better to wait until its at its lowest point. If you bought now and waited for the market to go back to what it was you could wait a while.

But the biggest opportunities are when the market is down and everyone is selling cheap, not when the market is over priced. Sort of like real estate.

I did day trading like you are doing now back in the day it does work well, but in Canada commissions were alot higher than they were in the USA so at the time you had to spend make minimum $200 profit on a buy and sell to even break even.

[Captain]

Over the past year I have changed the way I live. I am not living a life style that I once did. My family and I eat at home and entertain at home. We are not traveling on vacation this year as we have in the past. The plan is to survive this downturn till we see the light.

What am I doing?
(1.) I am conserving cash for now and the future.
(2.) Stockpiling food
(3.) raising a garden this spring/summer
(4.) Looking at ways to be self independent

What I recommend:
(1.) Move out of the big city
(2.) Buy a mini farm (I own and live on 15 acres)
(3.) Stop trying to keep up with the Jones
(4.) Live within your own means

[Captain]

I dont think going long now makes much sense either.

But I do believe in bargain shopping. When a stock is selling for 5% of what it was selling 2 years ago I see it as an opportunity.

I do think if someone can time the market and buy when the market is at its lowest point then it can be golden.

Even if someone bought now and rode the wave all the way down and then back up I think they would still end up ahead , but obviously its better to wait until its at its lowest point. If you bought now and waited for the market to go back to what it was you could wait a while.

But the biggest opportunities are when the market is down and everyone is selling cheap, not when the market is over priced. Sort of like real estate.

I did day trading like you are doing now back in the day it does work well, but in Canada commissions were alot higher than they were in the USA so at the time you had to spend make minimum $200 profit on a buy and sell to even break even.

I use etrade and my commission cost is $7.99 a trade so I don't have to have a great move in the stock price to become profitable. Plus I have complete control to execute the trade immediately fast.

[lots0]

Ive been bargain shopping the stocks myself.
You can get some real deals if you look.
There are some solid casino stocks. The thing you want to watch out for are going long on the casinos that are deep in debt like LVS (but you day trade LVS and make some serious money - big swings... real big)

I went long big time on gold @ $748.00 a little while back... And now I can't decide to sell now or wait a little longer and see if gold hits $1500.00.

I gotta say though for a huge gambling thrill FOREX beats the stock market hands down and it's 24/7... The thrills never end... lol

[intensity2]

I'm seeing no change. If anything, I'm up. In fact, this may my best month ever.

[Captain]

The dow ended down 299.64 to close at 6763.29 today. Where does it go from here? From what I see the dow is going to continue to go down and may land in the 5000 range soon. There is never a good day of news in the markets. Aig gets more bail out money today.

[Betpartners]

i reckon below 6000 is a given at some time considering that AIG is in serious trouble and there is more bad news expected world wide, dare i say below 5000 is not beyond the realms of nightmares

[Captain]

It's turned into a horror nightmare. Please can someone wake me up.

[mgcasinos]

50% income down in the last year~~