There is a long-held myth among many involved in the gaming industry that gambling is one of the few recession-proof industries out there. The mindset behind this sort of thinking seems to be two-fold. First, many gamblers are either addicted or have psychological compulsions to bet, and they'll continue to play no matter how tough the economic times are.
Second, gamblers are drawn in by the hope of the big jackpot and easy money during hard economic times. This theory assumes that some folks are more likely to gamble when their bank accounts dwindle and they're chasing the big score.
Recent numbers that have been rolling in from gaming giants like MGM and Harrah's clearly show that the industry is feeling the crunch in this lagging economy. Brick-and-mortar casinos across the country are reporting drop-offs in revenue from their expectations. When compared to the same month just one year ago, it's clear that there is much less action fueling the gaming giants.
In a bit of desperation mode, casinos are sending out emails and postcard mailers with some of the most enticing offers on room rates, eating, shows, and gaming, in memory. Free rooms and meals that were once reserved for the higher rollers are now extended to those who frequent the penny slots. In spite of these deals, hotel rooms sit empty, dealers stand at empty tables, and slot machines are quiet.
Poker has suffered a double-whammy, with the full impact of UIGEA crunching the sport while the overall economy is in flux as well. The number of internet poker rooms open to US-based players continues to shrink thanks to the threat of enforcement, and options to pay-in and pay-out of those online rooms catering to American players is narrowing as well. Although the assault on the game is felt by many, poker is still very much alive and kicking.
Poker was a wildly popular pastime in living rooms and casinos across the world long before the movie Rounders, before online poker, and before a guy named Chris Moneymaker became a star. It was these pieces of the puzzle that helped to spark the ignition that catapulted poker onto the forefront of popular culture.
Those who've always played the game, or even just recently started, all understand that poker is not simply gambling. Mindlessly dropping quarters into a slot machine is a much different psychological exercise than picking your spot to steal blinds, watching opponents like a hawk for potential tells, and calculating pot odds on the fly.
We poker players see the money that we buy-in with as an investment in ourselves, believing we are better than our opposition and better than the rake. In short, we are confident that we can beat this game of skill in the long run. On the flipside, slot players and those who frequent the roulette wheel know that the odds are heavily against them, and it will take gambler's luck for them to come out ahead in the short run.
Fueled by equal parts of ego and confidence, poker players do not psychologically measure their buy-in as gambling money. Their money is the tools of the trade that allows them to experience the thrill of the competition and the game's camaraderie. They know they can win based on their skill and knowledge and always give themselves a fighting chance. While nothing may be truly recession proof, poker may be recession resistant based on the psychological composition of those who play it.
Now go make it happen.
John Carlisle is a National Certified Counselor with a Master's degree in Counseling Psychology from West Virginia University. Contact John at carlisle14@hotmail.com.