Has The Credit Crunch Affected Betting Industry?

Betting expert claims credit crunch has not come into the gambling sector yet.

Betting firms have not seen a downturn in turnover due to the global credit crunch, according to one industry representative.

Peter Petrie, spokesperson for totesport, has claimed that the betting sector has not been negatively affected by the economic problems that are causing concern to businesses in other fields.

This applies to sports betting too, as gambling on the Ryder Cup has apparently not been slowed.

"It looks like people want to use the credit crunch to win some money. I honestly don't think the credit crunch comes into it at all," said Mr Petrie.

Earlier this month, totesport claimed that there is expected to be a £20 million betting turnover during this year's Ryder Cup.

Most bookies have Europe as favourites to lift the famous trophy, although Mr Petrie suggested there has been some big money staked on Paul Azinger's US team in recent weeks.