Inflation has hit record highs and doesn’t show any signs of letting up soon. People are having to decide which regular outgoings are the most important and which ones they can let go of simply to cover the cost of fuel, bills and food.
But, what is the little disposable income Brits have leftover being used for? Has this rise in living costs affected the gambling sector and are people’s spending habits changing?
Truthfully, over the years figures have remained consistent when it comes to betting. Even now, there hasn’t been a significant lapse and it seems as though people are still feeding their gambling habits on a monthly basis.
The Royal Ascot just had the pleasure of hosting their annual horse racing events where even though the Queen was not present this year – thousands of people still flocked in their Sunday best to place bets.
It certainly didn’t seem like too much was affecting the industry here.
Even online betting services like The Tipster Judge have noticed that things seem to be going smoothly. Offering free advice on racing Tipsters and betting, they are welcoming a steady flow of people looking for the best advice and pointers on where to spend their money.
Of course, people are still hoping for a big payout – maybe more than ever – but that’s the point. It doesn’t change the fact that a lot of Brits are still placing big bets with the understanding that it could be lost.
However, we do have to think about the timeline. Could it be that not enough people have quite felt the full effect of rising living costs yet? We may see a downfall in a few months if these prices continue to rise. Or could it be that people are making sacrifices in other non-essential places?