Online poker has exploded in response to recent job loss and pay cuts. The appeal lies not only in the thrill of probability, but also in the familiarity of the game, especially for those who worked in finance and stocks.
Over 44,000 individuals engage with their computers in an attempt to win money through online poker, according to PokerScout.com, a web site that tracks 98% of online poker traffic for over 500 sites. The 24-hour peak for today? A whopping 99,462 individuals participated in this game of probability and psychology at one point. That sounds like a lot of people, right? Actually, these numbers only cover 22 of the 500 sites that PokerScout.com tracks traffic and ratings for.
Details magazine notes that the appeal of online gambling comes from the similar skills needed to work on Wall Street and play poker.
Take a look at the July 2009 article from Details titled, "How Internet Gambling is Keeping Wall Street Rich" for more insight into the mindset and attitude of a few players.
Credit Crunch Gambling
Online Poker Booms While the Economy Suffers
Trend Themes
1. Online Gambling Surge - The rise in online poker engagement as a result of recent job loss and pay cuts presents a disruptive innovation and growth opportunity for online gambling companies.
2. Skill-based Gambling - Gambling that requires specialized skills similar to those used in Wall Street, such as poker, presents an opportunity for disruptive innovation in the gambling industry.
3. Virtual Gambling Communities - The popularity of online poker and gambling presents a growth opportunity for virtual gambling communities that allow for socialization and interaction between players.
Industry Implications
1. Online Gambling - The online gambling industry is set to benefit from the rise in engagement as a result of recent job loss and pay cuts.
2. Wall Street/finance - Combining the skills of Wall Street workers and poker players presents a disruptive innovation opportunity for the finance industry.
3. Social Gaming - The rise in virtual gambling communities presents growth opportunities for the social gaming industry.