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Globalization and Casino Odds

Is it right to place odds at online casinos regarding world events? There are plenty of arguments for and against, but the bottom line is that when people are betting on world political events at online casinos they are engaging with interest in the world around them, which so many people try to ignore. Online casino companies have come to realize that the world around them affects both their businesses as well as the people who come to bet online at their websites, and by offering odds on everything from negotiations over the possibility of a nuclear Iran to elections in Israel, the United States and Egypt to referendums on the European Union constitution in France and elsewhere online casinos show that they are aware that they don’t exist in a vacuum.

Many businesses that fail to take into account the realities of the world around them fall due to a variety of reasons, but chief amongst them is often the fact that they failed to see the cultural and societal changes which affect people who are customers for these businesses. Online casinos operate on a global scale – whether you’re in Seoul or Jerusalem or New York or London, you can gamble at an online casino with people from America, Brazil, Spain, Russia, Japan and Australia. There are political goings-on in each of these countries that often affect people’s ability to gamble online, and they aren’t always simply related to whether or not online casino gambling is legalized in whatever country many of their customers reside in.

As the saying goes, “It’s the economy, stupid.” If people don’t have money to feed their family or even just themselves, the odds are that they won’t have money to bet at online casinos. And in this ever-increasing interconnected world, what happens in one country often affects what happens in another. That’s a consequence of globalization, which while isn’t all that bad affects online casino companies like few others, simply because online casino sites and businesses are products of globalization as much as they are a fuel for it.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.