Porter Five Force Analysis
For thousands of years, mankind has enjoyed spending money on games of chance. Today this has developed into a multi-billion dollar worldwide phenomenon- the gambling industry.
While the total number of gambling enterprises has fallen in recent years the overall number of people employed in the industry has increases, suggesting that enterprises are now larger than they were a decade ago. The way people bet has been revolutionised of recent years with the online gambling industry taking over the …show more content…
This has caused many investigation and question over betting exchanges.
This considers both the macro- and micro-economic environment conditions' which affect the structure of the market (Brassington and Pettitt, 2000). With the UK expecting an increase in disposable income this is likely that more money is to be spent in gambling. The gambling market may, however, be susceptible to recessionary influences. In times of economic downturn consumers become more reserved in their spending. With the market been worldwide the economic stability of different countries should balance the market out at such times, but large consumers of the market such as the US may have an effect on the market. Interest rates and level of inflation must be considered as threats to the online gambling industry.
In order to combat the issues surrounding gambling addiction, casino staff undergo training in order to identify problem gamblers. The Gambling Bill is to focus on social responsibility rather than on casinos. The resort casinos which the gambling bill allows are an issue as evidence from New Zealand suggests that the bigger the casino the bigger the risk of problem gambling. This kind of control on the internet is done in a different way and there is no obligation for companies to offer this service. It is only the leading companies who tend to offer