Online gambling recession proof?

[The Buzz]

Interesting story from City Wire this morning about how the online gambling industry appears to be "recession-proof."

Online gambling companies, which are attacked from all sides including by revenue services around the world, somehow stumble on unaffected. 888, Britain’s second-biggest listed online gambling company, this morning said second-quarter sales had risen by 33 percent. This, even in a period that should typically be quiet for online gambling – what with the nice weather and Euro 2008.

Nor is 888 an anomaly. Rival Sportingbet Plc reported a £3.4 million profit in June on rising European and Australian bets.

Most interesting is the conclusion ...

Either way, regardless of the rules, vices like gambling are habit-forming activities; they thrive even as household budgets tighten. While ethical stocks may come and go, vice stays.

http://www.citywire.co.uk/personal/-...aspx?ID=310337

[Vrindavan]

i disagree with the viewpoints.