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Tag Archive: Casino

How introduction of money has shaped casino business


There was a time when the medium used for the trading goods and services was different to the one today. People would trade a cow for a sack of wheat, or give a certain number of wood logs for a drum of milk. There was no sense to the medium. Neither were they driven by weight or height, it was simply, whatever you had could be traded for whatever someone else had. No logic whatsoever.

Introduction of money

fgdfgdfgfdgdffgAll that changed when money was introduced. Firstly, in the shape of gold coins. Everything had a gold coin price attached to it. For example, a donkey cart would be for 10 gold coins, the donkey itself for 20 gold coins, so on and so forth. That remained the logical channel for trading for centuries. Then when printing came to existence, governments and authorities decided to print money backed by gold reserves. A country could print the same amount of paper money for the value of gold that had in their reserve. It was being done for two reasons. Carrying gold coins was a nuisance and burdensome. One would need to get a cart to carry the gold in order to purchase a set of things from the nearby market. Lifting it on the shoulders was impossible. Secondly, because of security fears. Gold carrying caravans were easily looted as the gold could not be hidden anywhere.

Introduction of paper money

Today, paper money is everything. Though every country has their own, it can be exchanged easily for the local currency. People that earn can spend the paper money on anything they want to in any part of the world. There are no boundaries. And to make matters easy, multiplying money is easier than ever before. You can invest, bet and gamble with the money and you can multiply it instantly. While there are many avenues for investment and betting, for gambling, the best place is a casino.

Money and casinos

Casinos are everywhere in the world. From Australia to Europe to American, they are found everywhere. For years, people have gambled and hit jackpots. Their destiny changed within a matter of minutes. But, all is not that easy, even for the casinos. They seem to be earning all the time, but still, there are top risks that face the casino businesses. The number one risk is the financial situation of a country.

Whenever the country is facing a downside in terms of unemployment and businesses in general, people stop gambling. It is because gambling is a luxury, not a necessity. When one would have more than their requirement, they would want to try their luck with it. But, when you cannot even make ends meet then how would you gamble?

Whenever a country is hit by a recession, casinos take the biggest hit. The local public is not gambling anymore because they want to save as much as possible as times are bad. But, the tourists can. If the entire world is in a financial crunch, then the casinos have nowhere to go and survive.