I wonder if any consideration could be given to reducing the entry fee on the DCs and Auctions that are struggling to fill. Since these leagues have no bearing on those in other cities, it would seem to me that instead of not holding these drafts at all, maybe they could give prospective participants the chance to voice at what level they'd jump in.
I'd love to do the DCs or Auctions in Orlando, but as it appears now, we'll have a tough time filling the NFFC versions, let alone the NBC ones which have minimal signups.
I'm suggesting a revised signup list. Something like...
UFFCs- NBC Auction-$325 or $650, etc.
Just a thought.
The Present State of the Economy and it's Impact on High Stakes FF
The Present State of the Economy and it's Impact on High Stakes FF
2008- Didn't finish last overall in the Classic.
2009- Didn't finish last overall in the Classic or Primetime.
2009- Didn't finish last overall in the Classic or Primetime.
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Greg Ambrosius
- Posts: 35870
- Joined: Tue Apr 06, 2004 6:00 pm
The Present State of the Economy and it's Impact on High Stakes FF
Originally posted by KJ Duke:
quote:Originally posted by Greg Ambrosius:
quote:Originally posted by KJ Duke:
I would term fantasy sports as recession-resistant.
Beer consumption has gone up in the past during tough times as people need to divert themselves from tough times. I think FF has an element of that, but will suffer a little from players reducing the number of teams they manage, and will lose some players who trade down to lower stakes games because budgets no longer allow for higher entries.
That said, FF is still in a secular growth phase thanks to growing media attention and internet usage. Overall, I think flat to moderate growth for this season is a reasonable assumption. It's definitely a better business to be in than many consumer product companies right now. And Las Vegas is still doing well, right? [/QUOTE]Vegas is sucking wind right, worse than they have in many years including the last few recessions which were hardly a blip in the growth curve for them. Most casino stocks are down at least 50% for the year as the theory that they were recession-proof has blown up in investors faces who didn't think about how Vegas has changed since the last down cycle.
The casino companies have themselves to blame. Vegas used to be a bargain vacation, but when it now costs $40 for a burger and fries from room service at a mid-tier major hotel ... its become a premium vacation in every conceivable manner. Vegas could stay down for awhile. [/QUOTE]Thanks for the info on this KJ Duke. I did not realize that even Vegas was hurting right now. But you are right that MGM and Harrah's has cornered the market on high-priced gambling and even in a recession that can be dangerous. Add to that the fact that flying to Vegas isn't cheap anymore and I can see why there's a downturn even there. I guess I better watch their stocks more closely.
I hope they won't get mad at us when the NFFC Thursday night party clears the sportsbook out of all their money on baseball gambling and horse gambling.
See ya there.
quote:Originally posted by Greg Ambrosius:
quote:Originally posted by KJ Duke:
I would term fantasy sports as recession-resistant.
Beer consumption has gone up in the past during tough times as people need to divert themselves from tough times. I think FF has an element of that, but will suffer a little from players reducing the number of teams they manage, and will lose some players who trade down to lower stakes games because budgets no longer allow for higher entries.
That said, FF is still in a secular growth phase thanks to growing media attention and internet usage. Overall, I think flat to moderate growth for this season is a reasonable assumption. It's definitely a better business to be in than many consumer product companies right now. And Las Vegas is still doing well, right? [/QUOTE]Vegas is sucking wind right, worse than they have in many years including the last few recessions which were hardly a blip in the growth curve for them. Most casino stocks are down at least 50% for the year as the theory that they were recession-proof has blown up in investors faces who didn't think about how Vegas has changed since the last down cycle.
The casino companies have themselves to blame. Vegas used to be a bargain vacation, but when it now costs $40 for a burger and fries from room service at a mid-tier major hotel ... its become a premium vacation in every conceivable manner. Vegas could stay down for awhile. [/QUOTE]Thanks for the info on this KJ Duke. I did not realize that even Vegas was hurting right now. But you are right that MGM and Harrah's has cornered the market on high-priced gambling and even in a recession that can be dangerous. Add to that the fact that flying to Vegas isn't cheap anymore and I can see why there's a downturn even there. I guess I better watch their stocks more closely.
I hope they won't get mad at us when the NFFC Thursday night party clears the sportsbook out of all their money on baseball gambling and horse gambling.
See ya there.Founder, National Fantasy Football Championship & National Fantasy Baseball Championship
Twitter: @GregAmbrosius
Twitter: @GregAmbrosius
The Present State of the Economy and it's Impact on High Stakes FF
Originally posted by SNAKE:
...you think the casino stocks are doing poorly?....take a look at the financials (banks, brokerages, lenders, etc.)...right now in the equity markets there's no place to run, no place to hide...as The Serpent stated in the opening post, it's really like the perfect storm on the U.S. economy with housing, consumer debt (haven't felt the full brunt here yet), inflation and the equity markets wreking havoc right now (and for very possibly some time to still come)...SNAKE Our managed portflios were up big in Q2 snake, but you're right for the bulk of investors/money managers out there. If you stay ahead of the curve there is money to be made, but its not easy.
[ July 14, 2008, 12:06 AM: Message edited by: KJ Duke ]
...you think the casino stocks are doing poorly?....take a look at the financials (banks, brokerages, lenders, etc.)...right now in the equity markets there's no place to run, no place to hide...as The Serpent stated in the opening post, it's really like the perfect storm on the U.S. economy with housing, consumer debt (haven't felt the full brunt here yet), inflation and the equity markets wreking havoc right now (and for very possibly some time to still come)...SNAKE Our managed portflios were up big in Q2 snake, but you're right for the bulk of investors/money managers out there. If you stay ahead of the curve there is money to be made, but its not easy.
[ July 14, 2008, 12:06 AM: Message edited by: KJ Duke ]
The Present State of the Economy and it's Impact on High Stakes FF
Originally posted by Greg Ambrosius:
I hope they won't get mad at us when the NFFC Thursday night party clears the sportsbook out of all their money on baseball gambling and horse gambling. See ya there. I'm looking forward to it. Remind me to short the casinos before driving over! Childs, UFS, Jules, RT, Barbour, Chest, Eddie, Lance and yourself ... they don't stand a chance!
I hope they won't get mad at us when the NFFC Thursday night party clears the sportsbook out of all their money on baseball gambling and horse gambling.
See ya there. I'm looking forward to it. Remind me to short the casinos before driving over! Childs, UFS, Jules, RT, Barbour, Chest, Eddie, Lance and yourself ... they don't stand a chance! The Present State of the Economy and it's Impact on High Stakes FF
Originally posted by SNAKE:
quote:Originally posted by KJ Duke:
quote:Originally posted by SNAKE:
...you think the casino stocks are doing poorly?....take a look at the financials (banks, brokerages, lenders, etc.)...right now in the equity markets there's no place to run, no place to hide...as The Serpent stated in the opening post, it's really like the perfect storm on the U.S. economy with housing, consumer debt (haven't felt the full brunt here yet), inflation and the ...equity markets wreking havoc right now (and for very possibly some time to still come)...SNAKE Our managed portflios were up big in Q2 snake, but you're right for the bulk of investors/money managers out there. If you stay ahead of the curve there is money to be made, but its not easy. [/QUOTE]...up big in Q2?...and which managed portfolio's were those may SNAKE ask?...surely you're not referring to alternative investments are you?...SNAKE [/QUOTE]Midcap/smallcap stock portfolios; no leverage, no short-selling, no derivatives,etc.
quote:Originally posted by KJ Duke:
quote:Originally posted by SNAKE:
...you think the casino stocks are doing poorly?....take a look at the financials (banks, brokerages, lenders, etc.)...right now in the equity markets there's no place to run, no place to hide...as The Serpent stated in the opening post, it's really like the perfect storm on the U.S. economy with housing, consumer debt (haven't felt the full brunt here yet), inflation and the ...equity markets wreking havoc right now (and for very possibly some time to still come)...SNAKE Our managed portflios were up big in Q2 snake, but you're right for the bulk of investors/money managers out there. If you stay ahead of the curve there is money to be made, but its not easy. [/QUOTE]...up big in Q2?...and which managed portfolio's were those may SNAKE ask?...surely you're not referring to alternative investments are you?...SNAKE [/QUOTE]Midcap/smallcap stock portfolios; no leverage, no short-selling, no derivatives,etc.
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D-Day Heroes
- Posts: 875
- Joined: Tue Aug 22, 2006 6:00 pm
The Present State of the Economy and it's Impact on High Stakes FF
, after reading this article from " Gambling Resourses , May 08 "
I feel you may be doing better than the average bear out there, there are many other Gambling Institutions , that don't have 1/2 the Loyal Support you do, through these unique and difficult times, and they are probally envying you right now.
.
" The gambling industry has long been considered immune to the effects of recession but recently, things appear to be taking a turn for the worse. A theory has stood for many years that those who engage in gambling activities such as casinos, lotteries and racetracks will spend more in times of economic difficulty in order to increase their chances of wining much needed money. However, during the last year whilst the value of the dollar has dropped and inflation prices have risen, many casino companies in the US have experienced a sharp decline in revenue.
When a country goes into recession, most individuals and companies are affected in some way. Individuals tighten their spending and seek repairs rather than buying new goods. It was believed that the gambling industry was largely unaffected during a recession. The theory being that during economic decline, many customers keep gambling – or even increase their spending - in a desperate bid to win money when they need it most. This compensates for any decline in gambling amongst those who choose to tighten their belts.
It is a theory which a couple of decades ago would have held true. At a time when gambling in the US was confined to horseracing and a few gambling resorts, demand and participation of gambling remained steady even throughout economic difficulties. However, the industry is different today, far more diverse and unlikely to resist a recession in the same way, if at all.
Nowadays, legal gambling is not restricted to the hardcore gambler but is instead a market open and accessible to millions of mainstream spending Americans. As a result, gambling funds tend to come from the same pocket as all other amenities such as shopping bills and fuel. As the latter increase and people are reaching the end of their credit limit, less money is available to the individual to spend at gambling facilities.
In Atlantic City, every casino has reported a drop in revenue since March this year, in one case, up to a 10 % drop overall compared to the previous year. The steepest drops in revenue have occurred in the first part of this year, with the hardest hit drop of 6.4%. Shares have dropped for casinos including MGM Mirage and Las Vegas Sands Corp, and it has been reported that gamblers are booking shorter stays at Las Vegas Casino resorts and generally spending less, both on entertainment and eating out, as well as the tables.
It is impossible to entirely assign all declines to recent changes in the economy and increased inflation, as there are many other factors to be considered including the smoking ban, more gambling venues and the success of online gambling. However, the decline in revenue witnessed by casinos both in the U.S and U.K act as a reminder to all in the gambling industry that they are a consumer-driven industry and vulnerable to external factors that affect spending.
In light of this, many casinos have begun to take the possibility of future decline very seriously. The MGM Mirage has announced a plan to lay off 400 middle managers in order to save $200 million a year, whilst the Atlantic City Hilton Casino is offering customers the option to pawn gold in return for gambling money.
It seems the myth of the recession-proof gambling industry has been disproved, and during this time of economic difficulty, the gambling industry needs to prepare itself for a potentially rough ride. "
If we can get through this, we can get through anything
I feel you may be doing better than the average bear out there, there are many other Gambling Institutions , that don't have 1/2 the Loyal Support you do, through these unique and difficult times, and they are probally envying you right now.
.
" The gambling industry has long been considered immune to the effects of recession but recently, things appear to be taking a turn for the worse. A theory has stood for many years that those who engage in gambling activities such as casinos, lotteries and racetracks will spend more in times of economic difficulty in order to increase their chances of wining much needed money. However, during the last year whilst the value of the dollar has dropped and inflation prices have risen, many casino companies in the US have experienced a sharp decline in revenue.
When a country goes into recession, most individuals and companies are affected in some way. Individuals tighten their spending and seek repairs rather than buying new goods. It was believed that the gambling industry was largely unaffected during a recession. The theory being that during economic decline, many customers keep gambling – or even increase their spending - in a desperate bid to win money when they need it most. This compensates for any decline in gambling amongst those who choose to tighten their belts.
It is a theory which a couple of decades ago would have held true. At a time when gambling in the US was confined to horseracing and a few gambling resorts, demand and participation of gambling remained steady even throughout economic difficulties. However, the industry is different today, far more diverse and unlikely to resist a recession in the same way, if at all.
Nowadays, legal gambling is not restricted to the hardcore gambler but is instead a market open and accessible to millions of mainstream spending Americans. As a result, gambling funds tend to come from the same pocket as all other amenities such as shopping bills and fuel. As the latter increase and people are reaching the end of their credit limit, less money is available to the individual to spend at gambling facilities.
In Atlantic City, every casino has reported a drop in revenue since March this year, in one case, up to a 10 % drop overall compared to the previous year. The steepest drops in revenue have occurred in the first part of this year, with the hardest hit drop of 6.4%. Shares have dropped for casinos including MGM Mirage and Las Vegas Sands Corp, and it has been reported that gamblers are booking shorter stays at Las Vegas Casino resorts and generally spending less, both on entertainment and eating out, as well as the tables.
It is impossible to entirely assign all declines to recent changes in the economy and increased inflation, as there are many other factors to be considered including the smoking ban, more gambling venues and the success of online gambling. However, the decline in revenue witnessed by casinos both in the U.S and U.K act as a reminder to all in the gambling industry that they are a consumer-driven industry and vulnerable to external factors that affect spending.
In light of this, many casinos have begun to take the possibility of future decline very seriously. The MGM Mirage has announced a plan to lay off 400 middle managers in order to save $200 million a year, whilst the Atlantic City Hilton Casino is offering customers the option to pawn gold in return for gambling money.
It seems the myth of the recession-proof gambling industry has been disproved, and during this time of economic difficulty, the gambling industry needs to prepare itself for a potentially rough ride. "
If we can get through this, we can get through anything
" When you are in any contest you should work as if there were - to the very last minute - a chance to lose it. "
- Dwight D. Eisenhower
- Dwight D. Eisenhower