Australians Spend $2 Billion Less on Pokies
Poker machines provide Australians with what seemed to be one of the most popular recreational activities in the country. However, pokies seem to losing their touch, as a recent study has shown that fewer dollars are being spent on poker machines.
According to ABC news, Australians are spending $2 billion less than they had in the previous year. While they are still contributing over $10 billion to the market overall, $2 billion is a massive drop in revenue for gaming clubs and the charities they provide for. Over all, gaming revenues have dropped to about $17 billion overall, despite the sportsbetting market seeing more action.
Researcher Jane Ianniello claims that the global recession has had a big impact on gambling spending. She notes that players increased their spending shortly after the global recession. However, now that they have had a chance to step back and examine their finances, they are cutting back on their recreational activities.
Fewer Australians seem to be going to local gaming clubs to have a drink and play pokies. Thus, there is less opportunity to spend money on gambling activities and other forms of adult entertainment. This should be a sign to club owners that they may have to start depending less on gambling revenue and invest in other forms of entertainment.