As cost of living rises in the US, what could this mean for the gambling industry?
The cost of living is high in the United States, so how can this affect the gambling industry?
According to the US Consumer Prices Index (CPI), the cost of living has increased, and was measured at the price of goods and services, by 2.4 % over the past 12 months, as shown in the data of the work statistics office. This is the rate of growth leaked from the previous 12 -month period, which witnessed a rate of 2.3 %.
The index showed that the prices of basic necessities, outside food and energy, increased by 2.8 % during the same period, while food and energy costs increased by 2.9 %. Simply put, life increases for ordinary Americans.
The times of economic uncertainty are in line with the increase in gambling activity in the past, as shown in this study that is looking into Iceland between 2007 and 2011. During that period, three main banks were bankrupt in Iceland in October 2008, some of the interesting gambling patterns appeared.
Specifically, he bought more lottery people and scratching cards and played Bingo, while playing fewer casinos and with electronic gambling machines. The trend seems to indicate that people were more inclined to “informal” or opportunistic games, instead of going to the designated gambling sites such as casinos.
This can stem from the desire to reduce financial difficulties through the lucky surprise, or may stem from the motivation to escape from a stressful position. After all, Many studies It indicates that emotional stress can push people towards gambling as a mechanism for adaptation, as such games provide a transformation of tension while putting bets.
The same phenomenon was tracked during the epidemic, with more modern studies that follow its behavior throughout that period, despite its largely reduced spending, the gambling has risen online, apparently as a way to deal with lock stress and financial anxiety.
“ICognitive psychologist Mark Henick explained that there are some major engines that tend to appear: despair, escape and optimism. You start believing that gambling is a viable strategy to fix your money.
“Escapes when life feels magic; the casino, the lottery, or the betting, becomes a comfortable shelter of reality.”
While the motive for gambling more during times of tension is understandable, risks are still existing. In fact, impulsive gambling can come with greater risks than the typical gambling that is not implemented from stress.
““When the markets fluctuate and money anxiety fluctuates, the decisions tend to change from wise planning to automatic risks,” explained Stephen Pocewald, the Managing Director of Mental Health Consulting in Manhattan.
What do you do to combat impulsive gambling
“Taking a moment before risking money is necessary,” Bushwald is advised. “Take a conscious moment to evaluate your mood. Stress and anxiety tend to raise gambling desires. Implement a 24 -hour waiting period before putting any bet that allows your mind to switch from emotional interaction to clear thinking. During this time, your motives can be bottom, and can link your potential losses in reality.”
It is also necessary to set Fixed financial boundaries – before starting playing. This helps to maintain control and borders on your spending, and protect your assets. In addition, breaking these boundaries is a sign of compulsive behavior that may need more professional attention.
“Spending time to think protects your money and your mental well -being,” he added. “Consciousness and self -regulation reduce the impulsive decisions fueled by economic stress. The responsible gambling requires more than luck; it requires clear thinking and the boss of the company.”
Distinguished Image: Pexels
The post is published as the cost of living in the United States, what can this mean for the gambling industry? He first appeared on Readwrite.
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2025-07-12 15:39:00
