Handle changes during recession?

[stu]

Y'all,

I am spending some of my day off watching CNBC. All of the speculation about a pending recession has left me with a question.

In previous recessions, did the parimutuel handle increase, decrease, or stay steady?

Stu

[jballscalls]

In the words of Silvio Dante from the Sopranos

What industries have been proven to be recession proof???

"Certain aspects of the entertainment industry, and....our thing"


My family is in the casino business and here in washington i've heard the numbers remained constant during poor local economies (boeing layoffs, etc) but when the state went non-smoking (except for the tribal casinos) that there was an across the board 10 percent decrease in numbers.

[Bruddah]

If for no other reason than a SMOKER would spend approximately 10 percent of their time in a smoking area and not gambling. :bang:

[Not4Love]

My Grandfather told me years ago that during the Great Depression, people would take their last 2 bucks and go to the racetrack to bet it.
I would say yes, handle goes up.

[NoDayJob]

The gummint will surely print more two dollar bills. :)

[beertapper]

its not guaranteed but certain industries like gambling, tobacco, alcohol and pharmaceuticals are more likely to survive / thrive during a recession...the demand for these things are pretty stable regardless of the economy..