Category Archives: Gambling

Oklahoma woman claims slot machine shut off after she hit the jackpot and the casino won't pay her the nearly $8.5 million she says she won.

Casinos in Macao, the worlds largest gambling enclave, reported a record plunge in gaming revenue in February after a 15-day closure that was brought on by the coronavirus outbreak. Shares of casino operators doing business in the country were trading higher after falling early in the session.

Gross gaming revenue in Macao fell 87.8 percent year-over-year in February to 3.1 billion patacas ($386.5 million), according to the Gaming Inspection & Coordination Bureau. The sharp drop came after the government on Feb. 4 ordered casino operators to shut down for 15 days to help prevent the spread of the coronavirus.

February marked the second consecutive month that Macao was affected by the outbreak. Gross gaming revenue fell 11.3 percent year-over-year in January to 22.1 billion patacas after Macao was forced to close its borders to mainland China during the Jan. 24-30 Lunar New Year holiday, a particularly busy time for traveling in China.

CORONAVIRUS HOARDING TO BOOST THESE FOOD COMPANIES

The coronavirus outbreak has sickened 87,137 people worldwide and killed 2,977, according to the latest figures from the World Health Organization.

Macao, the only place where gambling is legal in China, receives about 76 percent of its revenue from the industry. Gross gaming revenue for 2019 was 292.5 billion patacas ($36.6 billion), more than three times the size of Clark County, Nevada, home of Las Vegas ($10.36 billion).

CLICK HERE TO READ MORE ON FOX BUSINESS

Shares of MGM Resorts International and Wynn Resorts were both down about 29 percent from Jan. 20, the day the coronavirus was first reported to have spread outside of China, through Friday.

Read more here:

Coronavirus wipes out business in gambling capital of the world - Fox Business

As public hearings opened Friday ahead of sending an emergency sports gambling bill for the states Native American tribal casinos to a final Senate vote, opponents vowed to launch a fight that stretches far beyond legislative discussions.

Right before giving public testimony at the Senate Ways and Means Committee hearing, Eric Persson, CEO of Nevada-based Maverick Gaming LLC, pledged to spend millions of dollars this election cycle to prevent the bill from becoming law. Perssons company wants sports gambling expanded to the 19 in-state card-room casinos it bought over the past year and said EHB 2638 is a pure power grab that thwarts the public will in order to grant a monopoly to tribes.

Were prepared to spend $20-$30 million this election cycle to protect our 2,200 employees in the state and bring this matter to the attention of all Washingtonians to educate them about whats gone on, Persson told The Seattle Times.

Nothings off the table. Well do everything we can. Litigation, lobbying, TV ads, whatever it takes to get the message out there.

Maverick in recent weeks pumped $1 million into a political action committee it controls that is now funded to the tune of $1.5 million. He said the committee will focus on House and Senate campaigns involving lawmakers that supported a controversial emergency clause attached to SHB 2638 earlier this month.

That emergency designation prevents the bill from being subjected to a statewide referendum requiring 60% support to pass. Persson said Washingtonians want sports gaming beyond tribal casinos and wont support the state forgoing up to $50 million in annual tax revenue by limiting it to those venues.

We all know theres no path to 60% if the consumers voice is heard, Persson said. Thats why theyve invoked this clause now. It wasnt an emergency before. Last year, when they talked about this, it wasnt an emergency. It only became an emergency when Maverick Gaming arrived on the scene.

The fight for the right to operate sports gaming platforms in this state has long been a high-powered, mostly behind-the-scenes fight. The states 29 tribes and Maverick have both spent six-figure amounts on lobbyists and campaign contributions the past year trying to lure state lawmakers to their side.

For decades, tribal casinos have operated most of the legalized gambling in Washington a state with some of the nations toughest anti-gambling laws. Sports gambling remains illegal statewide, but the pressure to allow it has grown since the U.S. Supreme Court in May 2018 struck down a federal law that had banned it everywhere but Las Vegas and a handful of other jurisdictions.

Individual states can now determine their own course and dozens have either legalized some sports gambling, or like Washington are considering legislation on it. Those who want sports gambling limited to tribal casinos here argue that its the safest way to introduce a limited form of such gambling while preventing potential abuses, including addiction by minors.

The bill has already passed the House, and voting it out of the Senate committee is the final step before a full floor vote in that chamber. If passed there, it would be forwarded to Gov. Jay Inslee.

The emergency clause was tacked on right before the House voted the bill through earlier this month. Supporters say the emergency is that illegal sports gambling is growing within the state and the tribal-only allowances are needed to protect citizens from black-market dangers.

A legal opinion to that effect was obtained this week by the Washington Indian Gaming Association (WIGA) a group that promotes tribal gambling from former Washington Attorney General Rob McKenna. In it, McKenna concludes the emergency clause use would withstand a court challenge.

Rebecca Kaldor, WIGA executive director, testified at Fridays public hearing: Its important that the legislature take action now so that we can eliminate the illegal market and ensure that sports betting is safe and reliable in our state.

But a legal opinion issued this month for Maverick by former state senator and Washington Supreme Court Judge Phillip A. Talmadge found nothing to justify the emergency clause because tribal gaming wont bring new tax revenues or other urgent business to the state.

Hoquiam native Persson, testifying Friday along with several operators of his companys card-room casinos which allow limited card-game betting only said the tribal legislation is one more nail in the coffin for such venues and the employees within them.

If the constituents were to vote, there would be no path and I think everyone knows that here, he told the committee. So, now whats happening is were being excluded, were getting run over. And its really disappointing.

View post:

Opponents of tribal-only sports gambling legislation vow to spend millions to block it from becoming law - Seattle Times

Should teenagers gamble? Should senior citizens? What about someone with an income beneath the poverty line? By definition, teenagers shouldnt gamble. They dont have the mental faculties or maturity necessary to gamble responsibly.

Some senior citizens shouldnt gamble, but most find a way regardless. It really depends on their mental and emotional wellbeing.

Most people really ought to consider their individual circumstances and answer this question for themselves, but I do have some advice and suggestions about what to think about when making that decision. Not everyone should gamble, but everyone who does should gamble responsibly.

This post compares and contrasts several types of responsible and irresponsible gambling behaviors. The goal is to provide you with the proper tools to judge how well your gambling behavior measures up.

If you find yourself struggling to take a break from gambling, consider reaching out to gambling addiction resources. Its okay to ask for help.

Ill propose that the most important criterion for judging responsible gambling concerns money. If you cant afford to lose it, you shouldnt bet it.

?

What does this mean in real life? What behaviors exemplify gambling with money you can afford to lose versus gambling with money you need for something else?

An example of a responsible gambler might look like this:

Joe saves 10% of his pay every week through the end of the year to build a bankroll. Since he earns $30,000 a year, he has a bankroll of $3000 to start his poker career with.

He uses that money to play poker, and he sets aside any money he wins from playing poker to increase the size of his bankroll. After another year, he saved $3000 more from his job, AND hes won another $6000 playing cards.

He now has a bankroll of $12,000, which means he can play poker for higher stakes than he used to. This increases his earn rate, too. Eventually, Joe earns $30,000 a year from his poker career, and his bankroll grows to $50,000. He quits his job to play poker professionally.

This not only exemplifies responsible gambling, it demonstrates the kind of time and discipline required to gamble as an advantage gambler.

But Joes brother, Bobby, makes the same amount of money, but instead of waiting to build his bankroll, he starts playing blackjack (a negative expectation game) with $120 per week. At the end of the year, he tallies up his losses to find that hes down $120 for the year.

Bobby gambles less responsibly than his brother Joe, but as long as the bills get paid, you cant really fault him or claim a lack of responsibility on his part.

Sure, he loses money, but his bills get paid. He handles his and his familys needs in a timely manner.

Finally, it might help to look at the youngest brother, Billy. He gambles on slot machines once a month, but the amount he gambles changes based on his mood and how much he drinks.

Some weeks, he wins a little money, but he always loses those winnings and then some. He even once hit a $1000 jackpot, but only after losing $2000 total in the six months prior to that win.

And he pays his rent late almost every month. He could live in a nicer apartment if hed bite the bullet long enough to start paying his rent on time. Eventually, he loses so much money that he has to take in a roommate.

Those three examples show a descending order of responsibility. Joe demonstrates the most responsible behavior, although Bobby doesnt behave terribly. Billy borders on irresponsible, but some gamblers demonstrate even worse behavior.

Responsible gamblers have fun and recognize gambling as an entertainment expense. They recognize the risks involved. They also understand that most gamblers lose most of the time, regardless of whether they buy lottery tickets, playing slot machines, or betting on boxing matches.

Responsible gamblers also take pains to protect themselves and their families from the ravages from problem gambling.

Problem gamblers THINK about gambling differently from their responsible cousins. They usually think that if they play long enough, they will surely hit a jackpot. Problem gamblers hide their gambling from their friends and relatives, and they jeopardize relationships without much thought.

They also let their gambling activities start to take a toll on their health, both physically and financially.

Whatever you do, dont fall into the trap of thinking gambling will make you money. Bingo halls, bookmakers, casinos, the lottery, and poker rooms build their businesses on winning more money in the long run than they pay out.

Over any significant length of time, the vast majority of gamblers lose more money than they win. Sure, a tiny percentage of gamblers win big money. But they can do that because of all the other gamblers who lose money.

The idea that you will eventually win a big jackpot and catch up on all your previous losses poisons your mind and devastates your financial health. With that being said, remember to always manage your bankroll properly.

Dont conclude from this that I oppose gambling. I support gambling, but I only support responsible gambling. And as luck would have it, responsible gamblers have several behaviors in common.

You might find this glaringly obvious, but problem gamblers never seem to prevent themselves from betting money they need for something else.

What does it mean to use money you can afford to lose? If I found burning money satisfying and entertaining, could I afford to burn that amount of money for sheer entertainment purposes?

No matter how you gamble, in the long run, youll lose more money than you win. The companies taking or facilitating your bets set the system up that way.

For a gambler to win $1000 on a slot machine, other gamblers need to lose $1100 on that slot machine. For a poker player to win $1000 at poker, the other players must lose that money, along with an additional amount that the house takes from each pot, the rake. (Most cardrooms take 5% of every pot to pay for hosting the table. This replaces the house edge in real money casino gambling.)

For a sports bettor to win $1000 on a sports bet, someone somewhere must be losing $1100 to pay for it. Most gamblers, because of the nature of the business, fall on the losing side of that equation.

What do I mean by chase losses?

You chase losses when you keep gambling after losing. You play with the intention of winning back what youve lost. Many gamblers fall for something called the gamblers fallacythe belief that eventually, the luck must even out over time. If youve lost several times in a row, winning must become more likely, right? Wrong.

The odds dont change based on previous events. If the ball lands on red in roulette 99 times in a row, the probability that it will land on red the 100th time remains 47.37%. Every spin of the roulette wheel happens independently of the previous spins.

Casinos do their best to make this a chore. The lack of clocks in a casino makes it hard to know how long youve been gambling. Without predefined limits, youll lose more money than you can afford to even than you expect.

Responsible gamblers also avoid gambling in a depressed or angry state of mind.

Responsible gamblers set a goal of making intelligent, prudent decisions. Doing that requires a clear head and a reasonable state of mind. They also avoid alcohol while playing because overconsumption of alcohol can lead to bad decisions.

Finally, a responsible gambler understands the importance of balancing gambling with other activities. They eat out at restaurants, see shows, and have an entire life outside of gambling. They pursue other hobbies besides just gambling.

I hope to encourage my readers to gamble responsibly. Knowing what responsible gambling looks like might pose a conundrum to some folks, which is why Ive listed so many examples of good and bad gambling behavior.

Dont let anyone tell you whether or not you should gamble. That decision belongs to you. But do gamble as responsibly as you can.

See original here:

Tips on How to Gamble Responsibly - Responsible Gambling - BestUSCasinos.org

New research examining the full impact of gambling-related harm on loved ones has just been released by The Australian National University (ANU).

The 2019 ACT Gambling Survey found 17,000 adults in the ACT, or five per cent of the adult population, had been personally affected by a loved ones gambling.

Co-author Dr Marisa Paterson says the toll on family members, friends and colleagues can include financial, emotional, mental and physical impacts.

Gambling-related harm is not restricted to the gambler, and there are many deep and wide-ranging effects felt by those people close to gamblers, Dr Paterson said.

For example relationship conflict, emotional distress and reduced performance at work or study are all common.

The study found women affected by someone elses gambling rarely seek formal help.

We know women are disproportionately represented when it comes to experiencing the negative effects of a family members gambling, co-author Dr Megan Whitty said.

There is still a lot of shame and fear around it. Counsellors told us partners often have a belief the gambling is their fault or theyre contributing to it in some way.

However, there is limited research into motivators or barriers for these women when it comes to seeking help.

So its really vital that we take a long hard look at what is stopping women, and other people from seeking help, and what we can do to change that.

In total, the researchers spoke to 45 people across NSW and the ACT in 2019, including gambling counsellors and people with lived experience of gambling-related harm.

What we learnt from these interviews is things like emotional distress, financial distress and erosion of trust are interwoven with additional gambling-related harm, Dr Whitty said.

One respondent said it was probably the most frightening situation Id ever been in in my life, just financially and emotionally.

Another said, it was very unsettling and you felt thattheres this monster living in the cupboard and at any moment it could just come out and grab you.

Dr Paterson says the current system could be improved to better empower loved-ones, particularly women.

It is important that men and women who are effected by a partners gambling know that they are not alone and there is help available, she said.

This report was funded by the NSW Office of Responsible Gamblings 2019 Responsible Gambling Grants Program.

The Centre for Gambling Research is also funded by the ACT Gambling and Racing Commission.

Read the original:

Partners pay a high toll when it comes to gambling - Mirage News

Many people gamble without any real understanding of how gambling actually works.

Do you know what odds' and house edge' mean? What about average return to player'? When you gamble, are you playing a skill based game or is it all down to chance and does it matter? What are your real chances of winning? Can you separate fact from fiction amongst the many myths surrounding gambling? Before you decide to gamble it is a good idea to know how gambling works so there are no hidden surprises.

Gambling is taking part in a game during which you risk money, or something of monetary value, in order to win money or a prize. The outcome of the game is usually down to chance, so when gambling you might leave with less money than you started off with, and sometimes with nothing at all.

There are many forms of gambling, including lotteries and scratchcards, card games like poker and blackjack, betting on sports or events, playing casino games, gambling machines or bingo. Many people enjoy gambling, whether having a flutter on the Grand National or buying the odd scratchcard, or taking part in gambling on a more regular basis. Gambling is not a bad thing, but it can be risky, so we need to keep ourselves informed and make safer choices.

More here:

What is Gambling? - Understanding Gambling | BeGambleAware ...

REFERENCES:

Abler, B., R. Hahlbrock, A. Unrath, et al. "At Risk for Pathological Gambling: Imaging Neural Reward Processing Under Chronic Dopamine Agonists." Brain 132.9 (2009): 2396-2402.

Alegria, A., S. Bernardi, and C. Blanco. "Pathological gambling: obsessive-compulsive disorder or behavioral addiction?" Columbian Psychiatry Review 39(suppl) (2010): 133-142.

American Psychiatric Association. Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, Treatment Revision. American Psychiatric Publishing: Washington, D.C., 2000.

Centre for Addiction and Mental Health (CAMH). Problem Gambling: The Issues, the Options 2012, Ontario, Canada.

Cunningham-Williams, R.M., R.A. Grucza, L.B. Cottler, et al. "Prevalence and Predictors of Pathological Gambling: Results From the St. Louis Personality, Health and Lifestyle (SLPHL) Study." Journal of Psychiatric Research 39.4 July 2005: 377-390.

Dodd, M.L., K.J. Klos, J.H. Bower, Y.E. Geda, et al. "Pathological Gambling Caused by Drugs Used to Treat Parkinson Disease." Archives of Neurology 62 (2005).

Fong, T.W. "Pathological Gambling: Update on Assessment and Treatment." Addictive Disorders 27 Aug. 2009.

George, S., and V. Murali. "Pathological Gambling: An Overview of Assessment and Treatment." Advances in Psychiatric Treatment 11 (2005): 450-456.

Grant, J.E., and S.W. Kim. "Medication Management of Pathological Gambling." Minnesota Medicine 89.9 Sept. 2006: 44-48.

Hall, G.W., N.J. Carriero, R.Y. Takushi, et al. "Pathological Gambling Among Cocaine-Dependent Outpatients." American Journal of Psychiatry 157 July 2000: 1127-1133.

Korn, D.A., and H.J. Shaffer. "Practice Guidelines for Treating Gambling-Related Problems: An Evidence-Based Treatment Guide for Clinicians." Massachusetts Council on Compulsive Gambling Jan. 2004.

Ledgerwood, D.M., J. Weinstock, B.J. Morasco, and N.M. Petry. "Clinical Features and Treatment Prognosis of Pathological Gamblers With and Without Recent Gambling-Related Illegal Behavior." Journal of the American Academy of Psychiatry and the Law 35.3 (2007): 294-301.

Leung, K.S., and L.B. Cottler. "Treatment of Pathological Gambling." Current Opinion in Psychiatry 22.1 Jan. 2009: 69-74.

Moreyra, P., A. Ibanez, J. Saiz-Ruiz, et al. "Review of the Phenomenology, Etiology and Treatment of Pathological Gambling." German Journal of Psychiatry 3 (2000): 37-52.

Nower, L., and A. Blaszcznski. "Binge Gambling: A Neglected Concept." International Gambling Studies 3.1 (2003): 23-35.

Okuda, M., I. Balan, N.M. Petry, et al. "Cognitive-Behavioral Therapy for Pathological Gambling: Cultural Considerations." American Journal of Psychiatry 166 Dec. 2009: 1325-1330.

Park, S. "An overview of pathological gambling: methods of treatment and prevention." National Gambling Impact Study Commission Sept. 1998; Biloxi, Mississippi, and New Orleans, Louisiana.

Petry, N.M. "Internet Gambling: An Emerging Concern in Family Practice Medicine?" Family Practice 23.4 (2006): 421-426.

Petry, N.M, and C. Armentano. "Prevalence, Assessment and Treatment of Pathological Gambling: A Review." Psychiatric Services 50 Aug. 1999: 1021-1027.

Pettorruso, M., L. De Risio, G. Martinotti, et al. "Targeting the glutamatergic system to treat pathological gambling: current evidence and future perspectives." Biomedical Research International 2014.

Potenza, M.N., M.A. Steinberg, S.D. McLaughlin, et al. "Gender-Related Differences in the Characteristics of Problem Gamblers Using a Gambling Helpline." American Journal of Psychiatry 158 Sept. 200: 1500-1505.

Raylu, N., and T.P. Oei. "Role of culture in gambling and problem gambling." Clinical Psychology Review 23 (2004): 1087-1114.

Slutske, W.S. "Natural Recovery and Treatment-Seeking in Pathological Gambling: Results of Two U.S. National Surveys." American Journal of Psychiatry 163 Feb. 2006: 297-302.

Tsoi, S. "Academics Discuss Issues Concerning Gambling and Asian American Community Health." Sampan 19 Mar. 2009: 40.

Weintraub, D., A.D. Siderowf, M.N. Potenza, et al. "Association of dopamine agonist use with impulse control disorders in Parkinson Disease." Archives of Neurology 63 (2006): 969-973.

Westermeyer, J., J. Canive, J. Garrard, et al. "Lifetime Prevalence of Pathological Gambling Among American Indian and Hispanic American Veterans." American Journal of Public Health 95.5 May 2005: 860-866.

Wood, R.T.A., R. Gupta, J.L. Derevensky, and M. Griffiths. "Video game playing and gambling in adolescents: common risk factors." Journal of Child and Adolescent Substance Abuse 14.1 (2004): 77-100.

Go here to read the rest:

Gambling Addiction Causes, Treatment & Symptoms

Last week, a report claimed that cryptocurrency-based illegal gambling has surged in many parts of Asia owing to the rise of this novel asset class in recent years. In this regard, the article further added that over the course of the last five years or so, betting amounts have become substantially larger, partly because of traditional payment methods being replaced by cryptocurrencies.

From a more technical standpoint, a research study released by Transparency International, a nongovernment organization based in Berlin, Asias illicit gambling market was found to be worth a staggering $400 billion in 2018. This is in part because gambling is an extremely popular recreational activity across a number of countries in the region such as China, India, Indonesia, Pakistan and Bangladesh.

Additionally, cryptocurrencies are becoming a preferred source of betting for online gaming operators around the world because the payment medium works without the need for an intermediary. Additionally, it alleviates the risk of customers initiating fraudulent credit card chargebacks, which take place after a scammer has topped up their betting account but then request their credit card operator to process a refund by citing illegal activity.

Even though online gambling has grown considerably across Asia as well as many other parts of the world recently, the use of cryptocurrency within this domain is still largely contained to some comparatively small, little-used gambling decentralized apps.

Licensed operators only take bets in countries where online gambling is legal. So, it is entirely possible that players using cryptocurrency to engage in illegal gambling only represent a tiny fraction of the market.

Sulim Malook, founder of Crypto Millions Lotto, a licensed Bitcoin (BTC) lotto, told Cointelegraph that a vast majority of Asias gambling activities are regulated and not related to its local sporting market. Instead, people prefer to bet on a number of western sporting domains, such as the English Premier League or the Spanish La Liga. He further highlighted:

You can get an idea of how big this is just by looking at the number of sponsorships clubs have with sports betting partners. Players from countries like China, India, Indonesia, Pakistan and Bangladesh can open up betting accounts legally at many online bookmakers, including the worlds largest, http://www.bet365.com. They dont need cryptocurrency to do this. In fact, Bet365 doesnt even offer cryptocurrency as a direct means to deposit.

When asked about why so much of the blame was being placed on crypto even though fiat-based illegal gambling is still thriving, Malook stated that a large portion of the bad publicity is happening because it is easy for government officials and regulators to point fingers at this industry, especially since it is still in its infancy.

He further pointed out that even though Bitcoin is well known for its censorship-resistant nature, most people especially those living in developing nations like to view the digital asset as a global currency that can allow them to take advantage of services that people in most western nations take for granted. Mulook then added:

Card issuers have made it so difficult for people to gamble (deposit and withdraw) even when the transactions are legal. As such, it is not surprising that people are looking for alternative currencies and payment methods. Cryptocurrency is an excellent facilitator for online gambling, which is a huge industry even without it.

To gain a better understanding of how fiat compares to crypto in relation to illegal gambling, Cointelegraph spoke with John Caldwell, co-founder of ASG Blockchain and director of advocacy of CasinoCoin Foundation. CasinoCoin is a digital currency designed specifically for the regulated online gaming industry.

In his view, an overwhelming majority of funds being passed back and forth across a host of illicit gambling markets is still fiat-based money. However, he did concede that with the introduction of crypto into the fray, the existing problem might be exacerbated, albeit quite marginally.

On the issue of whether the increasing use of crypto for online gambling purposes gives governments all over the world a good enough reason to ban this unique asset class, Caldwell pointed out:

Methods to support illicit gambling via fiat have been tried and true for decades now, and the tools that blockchain and crypto provide to battle this should be the focus. Will politicos/governments figure this out? I am hopeful, but we shall see. Given the direction of governments toward national digital currencies, one would hope a government would see that using a digital currency and its supporting tools to shed more light on all transactions is the answer.

Lastly, the privacy benefits related to most crypto assets are quite limited unless people are looking to get their hands on privacy-oriented digital currencies most of whom are anyway very difficult to use due to various regulatory problems. In regards to the subject, Malook pointed out that every licensed exchange that is currently offering its customers seamless fiat-to-crypto conversions is making use of rigorous Know Your Customer checks. For those who want to bypass such KYC requirements, the cost is having to pay very high fees and currency conversion spreads that seriously impact a gamblers overall market edge.

Despite the anti-crypto gang reiterating the mantra that crypto is untraceable, the fact of the matter remains that most cryptocurrencies are actually more traceable than cash. And while the growth of the illegal gambling market should be a reason for concern to regulatory bodies across the globe, putting the blame largely on crypto does not help solve anything.

Commenting on the issue, Brandon Morey, CEO of We Accept Cryptocurrency, an online resource of merchants, told Cointelegraph:

I don't believe illegal gambling will ever be curbed or contained since a whole lot of people like betting on sports. In fact, illegal gambling markets will only grow due to technological advances.

On a somewhat similar note, Caldwell pointed out that the key to unifying the crypto and gambling world is by bringing more clarity to the entire betting process. In his view, hiding or trying to obfuscate any part of this process will only draw in negative attention toward all of the involved parties. Caldwell further opined:

Crypto and blockchain should facilitate that process and make players, operators, regulators and governments all more comfortable not less. The key is educating polls, regulators and operators on how blockchain and crypto can be used to make their lives easier not more difficult. The blockchain should be seen as a tool not a threat.

As things stand, cash and credit cards are still by far the preferred mode of payment for most gambling enthusiasts across the globe. This is because, despite crypto eliminating the need for any gateways and intermediaries, digital currencies are still hard to use for a whole host of day-to-day buy/sell activities.

Add to this the fact that most traditional credit card operators provide their users with financial guarantees that crypto just cannot provide at the moment. As a result, the overall incentive for people to use crypto for legal or illegal gambling-related activities is quite limited.

Visit link:

Crypto Accused of Facilitating Illegal Gambling What Are the Odds? - Cointelegraph

If youve spent any time at all researching gambling on the internet, youve noticed that theres a seemingly endless number of websites offering gambling information.

Youve probably also noticed that most of them offer aggressive, colorful advertising for online casinos, poker rooms, and sportsbooks.

What should you expect from a gambling information site? What makes one gambling info website better than another? How do you know whether you can trust a sites recommendations or reviews?

After all, it doesnt take a rocket surgeon to realize that real money online gambling webmasters have a lot of incentive to refer players to certain gambling companies.

This post offers some things to look for when youre deciding whether a gambling information site is legitimate or not. Not every site will feature all of these aspects, and just because a site is missing something on this list doesnt mean its not reputable.

Use this as a rough guide for comparing one portal to another.

I have a friend who used to edit a couple of volunteer-staffed website directories. Before search engines became so robust, humans had to list websites in various categories, and users would surf through those categories to find information.

Yahoo got its start as a directory. One of the directories where my friend worked refused to list any site that didnt include two ways to contact the site owner.

I think that might be a lot to ask of a gambling information portal, but I think an About Us page is a minimum expectation anyone should have from a site.

Anyone operating a website offering information to gamblers should publish a page that gives you at least a general idea of who runs the website and what the sites goals are.

How-to pages include guides on how to play the games the information site is about. For example, if youre visiting a site that purports to offer blackjack information, it should have a prominent page about how to play blackjack.

It should also include pages about how to play blackjack variations of the game, like Spanish 21 or Super Fun 21.

Some sites specialize in casino games of all kinds. In that case, you should be able to find a page about how to play any of the major casino games like blackjack, craps, roulette, slot machines, and video poker.

These sites should also offer how-to information around strategy, odds, and tactics. The idea behind a gambling information site should be to aid the customer in getting the most for his money.

You cant do that if you dont explain the details behind the games odds and the best strategies for trying to win. All of the above also applies to sites focused on poker and sports betting, too.

Some websites are intentionally designed to be static sites. They publish information thats meant to be evergreen, and their pages are never updated.

I think you should expect more from a gambling information site than that. You should have an idea of how often a site gets updated.

Most legitimate sites have a blog section somewhere on the site. Or theyll have a page devoted to updates where theyll explain which pages theyve updated and what theyve done to them.

Imagine a site that offers reviews of online casinos, for example. Suppose that this site never updates its content. How do you know that the reviews of the casinos are still valid?

Gambling companies change hands all the time. Even blackjack strategy changes over time to account for changes in game conditions.

Anyone reading a website is looking for answers to their questions. I think any page worth reading, especially a static page that purports to be a comprehensive look at a subject, should have a question-and-answer section.

Honestly, this is the easiest way for an online gambling webmaster to get ideas for content to update their site with. If you spend a little time in some gambling forums or just searching a major search engine, youll find lists of questions on specific subjects.

Not every site should be penalized with your disdain if it doesnt include questions and answers, but if youre trying to decide between a site that has a frequently asked questions page and one that doesnt, go with the site that does, all other things being equal, anyway.

Youll have no problem finding a gambling information site that offers recommended places to spend your money. Youll occasionally find a webmaster whos so sold on a specific property that he only promotes it and nothing else.

But a webmaster should participate in the web. And its called a web because its a web of links.

What Im getting at is that webmasters should link to other useful resources, not just to the businesses theyre taking advertising dollars from. Its usually easy to spot the difference in these kinds of recommendations, too.

i

Keep in mind, though, that some sites only offer recommendations to other information sites owned by the same company.

Thats a bummer, but thats the nature of the business. Since most search engines recommend sites in part by how much link popularity they have, aggressive marketers in some industries will be stingy when linking to other resources.

I dont believe surfers should reward that kind of behavior on the part of a webmaster when they realize thats whats happening. You might feel differently.

Every gambling information site Ive ever visited offered at least one review of an online casino, an internet cardroom, or an offshore sportsbook. Some sites consist of nothing but reviews of these sites.

The problem with most of these sites is that theyre not offering real reviews. These so-called reviews are just thinly-disguised advertisement pages. Theyre sales letters, not reviews.

How can you tell the difference? For the most part, you should assume that any review of an online casino is biased toward that casino. Thats the nature of the internet today. The question is HOW biased the review is.

Does the review use a lot of marketing language to describe the casino and its games? If it does, then its just an advertising piece, and you should move on.

On the other hand, sites that list the various pros and cons of a site has more integrity. If the negatives on a casino seem serious, then you might be reading one of the most legitimate reviews on the internet.

If you can find an online casino review that uses the first person singular instead of the royal we, you might have found a real person with a real opinion writing about a property.

But once a review starts saying stuff like, We thought the bonuses were amazing, youre starting to slip into advertising territory. These are all just rough guidelines to think about.

Theres no perfect way to differentiate legitimate online casino reviews from pure advertising.

The best information sites have a means of finding information you want on a site. Often, this is a search box where you can type in a phrase and find the appropriate pages on the site covering that topic.

Thats unusual, though, especially for online gambling information sites. A good solution is for a site to offer a site map. A site map is just an organized list of the pages on that site.

A good website has a good, simple, useful navigation structure, but a site map provides a broader overview of a websites pages than the navigation usually does.

When it comes to gambling information websites, buyer beware.

Of course, most of these sites dont offer anything for sale directly from their sites other than advertising. Theyre not selling the advertising to their readers, though, theyre selling that advertising to the casinos, poker rooms, and sportsbooks who want to sign up their users.

This tends to color the editorial policy for such sites. The degree to which this happens depends on the integrity of the operator of the information site. Ive met webmasters in the industry who cared about nothing but getting the most money from the highest bidder.

Ive also met webmasters who refused to promote any site that didnt live up to a strict code of ethics.

Use your own best judgment when deciding which gambling information sites to trust, but be aware of what to look for.

Original post:

What Every Gambling Information Site Should Offer - Online Gambling - BestUSCasinos.org

Hoping to make it less cumbersome to adopt changes to Marylands gambling laws, the Senate approved legislation on Tuesday to take gaming provisions out of the states constitution.

This content was republished with permission from WTOPs news partners at Maryland Matters. Sign up for Maryland Matters free email subscription today.

Hoping to make it less cumbersome to adopt changes to Marylands gambling laws, the Senate approved legislation on Tuesday to take gaming provisions out of the states constitution. The vote was 46-1.

The move would reverse a key component of the legislation the General Assembly approved more than a decade ago.

When the legislature legalized casinos during a special session in 2007, it included a requirement that any subsequent expansion or alteration to the states gambling laws be approved by voters at referendum.

The idea was to assure the public that they would have a say on such matters going forward.

Senate Bill 325 proposes a constitutional amendment that restores the legislatures power to approve gambling measures. It passed with minimal debate.

The primary sponsor is Senate Majority Leader Nancy J. King, D-Montgomery, and 19 other senators including many of the chambers leaders have signed on as co-sponsors.

A similar measure, HB 605, has been introduced in the House of Delegates. The Ways and Means Committee is scheduled to hold a hearing on that bill on Thursday.

If the measures become law, as expected, voters could face two gambling-related referendum questions on the ballot this November.

In addition to the King bill, lawmakers are expected to consider a measure to legalize sports betting, Senate Bill 4.

The Senate Budget and Taxation committee held a hearing on that bill late last month but has yet to vote on it.

Under that proposal, sponsored by Sen. Craig J. Zucker, D-Montgomery, the state would be authorized to issue sports wagering licenses in exchange for a $2.5 million upfront payment and $250,000 annually.

Eighty percent of the proceeds from sports wagering would go to the sportsbook. The remainder would go to the states Education Trust Fund.

Backers of the measure are expected to argue that Maryland should join the growing list of states that allow sports gambling so the revenue generated by the activity can be used to fund the recommendations of the Kirwan Commission, which has proposed billions of dollars in additional spending on K-12 education.

Sports gambling is projected the net the state about $21 million per year.

In an interview Tuesday, Republican Gov. Larry Hogan said he would be willing to take a look at a sports gambling bill. But, he noted that the projected revenues from betting would barely make a dent in what the state will need to fund Kirwan.

Were going to need a lot more than sports gambling, he said.

Most of the states casino operators, racing interests and professional sports team owners have hired lobbyists in an effort to push sports gambling across the finish line as have prominent national online gambling sites.

In addition to professional sports, bettors would be able to place wagers on college sports, Olympic events, certain esports competitions and auto racing. Betting on high school sports would remain illegal.

Since the Supreme Court struck down the Professional Amateur Sports Protection Act in 2018, several states and D.C. have approved legislation allowing sports gambling including neighboring Delaware, Pennsylvania and West Virginia. Most of them have operations up and running; others are expected to be in operation in the next six months.

This article was written by WTOPs news partners atMaryland Mattersand republished with permission.Sign up for Maryland Matters free email subscription today.

The rest is here:

Maryland Senate passes bill to take gambling out of the state constitution - WTOP

You can often learn as much from examining bad advice as you can from getting good advice. With any luck, what Ive done with this post is provide seven examples of REALLY bad advice and replace it with good advice.

Many times, just doing the opposite of what the bad advice suggests is enough to prevent a disaster. Other times, the bad advice might be appropriate in some circumstances. And sometimes, bad advice just doesnt matter much one way or the other.

In any case, you should know the difference. Here are seven examples of the worst advice about real money gambling Ive ever heard.

Most of the time, the person urging you to get expert advice on who to bet on is the one selling that advice. In the betting world, someone who sells this kind of advice is called a tout. A company which provides multiple experts is a tout service.

These services prefer to be called handicappers or expert handicappers, but a healthy dose of skepticism would be wise when dealing with such companies.

Most of them have websites offering free picks. These are worth what you pay for them, usually. But the idea of getting you hooked on their free picks is to generate interest in their paid picks. Thats how they get you.

Lets look at some of the math behind betting on sports.

Assume youre an average sports bettor who bets $100 per game on a regular basis. Youre required to risk $110 to win $100, which is how the bookmaker makes his money. Just to break even, you need to win over 52% of the time.

And the lines are set so that your probability of winning is 50%. So, you decide to find an expert to make your betting decisions for you. You find a guy who offers a solid pick for Thursday nights NFL game for just $25.

Youre going to be out the $25 no matter what happens, win or lose.

Lets assume that the tout flipped a coin to choose a team. (Thats a likely a scenario, by the way.) 50% of the time, youll lose $135, which includes the $110 you bet on the game, and the $25 you spent on the pick. The other 50% of the time, youll win $75, which is $100 less the $25 pick.

What does this mean for the house edge? $110 $75 is the equivalent of a $35 loss, or $17.50 per bet. What if the tout was picking winners 60% of the time? 60% of the time, you win $75, and 40% of the time, youll lose $135. Thats $45 in positive expectation, and $54 in negative expectation.

In other words, if youre only betting $100, that $25 pick doesnt bring you to break even if the handicapper is right 60% of the time, which is nearly impossible. Even the people in the business admit that 55% is probably the best you can expect from an exceptional handicapper.

If youre betting $1000 on the game, it might make more sense to pay $25 for a pick. But even then, youre looking at a potential win of $975 and a potential loss of $1,125.

If your handicapper is right 60% of the time, thats $585 in positive expected value. You also have $450 in negative expected value, so now you have a profitable pick. You should notice two things about this youre going to be right 50% of the time even if you choose randomly.

And even if the tout is really good at his job, you still have to bet considerably more than the cost of the pick to make even good picks profitable.

Contrary to popular belief, the house doesnt always win. Sometimes, you win. In fact, about 20% of the people who visit a casino in a given day go home from the casino with winnings in their pockets.

This doesnt mean you SHOULD play, but it also doesnt mean you should refrain from playing. It means that the decision is more complicated than that.

No, you probably wont win in the long run, but you might. If you win a huge progressive jackpot of $10 million, you might conceivably be able to play for low stakes for the rest of your life and show a net profit for your casino gambling career.

Thats not likely, though, to say the least. But what about gambling as an entertainment expense? Is it okay to gamble knowing youll probably lose in the long run as long as youre having fun doing it? Of course it is.

The trick is to decide whether youre really having that much fun while youre playing. My dad might have put $2 into the slot machines the entire time we were in Reno together. (We were there for four nights.)

Gambling in a casino didnt seem like fun to him, but I sure enjoyed myself. I came home a winner on that trip, too! I won about $50 net.

This is just the Martingale system, which doesnt work in the long run. The idea is that every time you lose, you double the size of your previous bet. Eventually, you must win, and when you do, youll win back all your previous losses along with a small profit.

Ive seen some gambling experts say that you can grind out lots of small wins this way. But youll eventually run into a situation where you lose so many times in a row that your bankroll will be devastated, and you wont be able to afford the next bet. Or youll run into a situation where the next bet in the progression will be so big that the house wont let you make it because of their betting limits.

Suppose you start with $5 and go on a losing streak in roulette. Most roulette tables with a $5 minimum bet also have a $500 maximum bet, which means youll need to bet the max when you have a certain number of losses in a row.

Most people underestimate how many losses that will be:

If you lose seven times in a row on an even-money bet in roulette, you cant make the next bet because the casino has betting limits in place.

You might think seven losses in a row is next to impossible at the roulette table, but it happens probably once a day in every casino.

This isnt terrible advice unless you think its going to magically make you a winning gambler. In the long run, short-term strategies like win goals and stop-loss limits wont change the fact that the house has a mathematical edge over the player.

A win goal is an amount youre going to win thats going to signify that its time to stop for that session. This would make you a winner But only if you stop and never gamble again.

A stop-loss limit is the same thing, but its an amount youre willing to lose before quitting the session. Its meant to limit how much money youll lose.

This would limit the amount you lose But only if you stop and never gamble again.

The way the math behind gambling works, though, is that youre facing a lifetime gambling session thats been divided into shorter, arbitrary sessions. As far as the gods of luck are concerned, its all one big session.

And the more you gamble, the closer your results will get to the mathematically expected results.

Heres the idea behind this advice: Suppose you place a big bet, maybe $500, on the roulette wheel and win. Now, you have $1000. You decide youre only going to play with the $500 you just won, and youre going to preserve your original stake.

If you think this will make you profitable in the long run, think again.

Once youve won that money, its not the houses money anymore. Its your money. If you continue to gamble with it, you continue to give the casino house edge time to work its magic.

It can be fun to gamble with the houses money. But it can be more fun to pocket your $500 in winnings and buy a nice dinner or some show tickets with your profits.

Some casino games involve a skill element, but most of them are pure chance. Even the games with a skill element, like blackjack and video poker, give the house a mathematical edge over the player.

It doesnt matter how much you practice or how skilled you get. If you play long enough, the house edge will eat up all your money.

The only exception is if you find a real advantage gambling technique and get good enough at it to win consistently over time.

For example, some card counters are profitable in the long run. And to make that profit, they do need to practice and become proficient, both at basic strategy and at counting cards.

Casinos dont make that easy either. Once they realize youre counting cards, theyll usually run you off their blackjack games. Some of them will even ask you to leave the casino entirely.

More nonsense has been written about which slot machines are looser than others than anything I can imagine. The biggest and most popular myth is that the casinos put the best-paying slot machines on the edges of the rows so theyll attract more players.

This myth originates from an interview with a slot machine manager at a casino decades ago. Theres no guarantee that the interview actually took place, and even if it did, theres no guarantee that the slots manager was telling the truth.

Multiple more recent interviews with casino managers and slot machine managers indicate that they do NOT place their slot machines based on how loose or how tight they are.

Even defining those terms is tricky.

A loose slot machine is one thats supposed to pay out more, but even a game with a high hit frequency can have a lower payback percentage than a game with a low hit frequency.

Whats the difference, and how is that possible? Hit frequency refers to how often a spin of the reels results in some kind of prize, regardless of the size of that prize. For example, a slot machine with a hit frequency of 33% will result in a win about one-third of the time.

The payback percentage, on the other hand, is a function of how much money the slot machine pays out versus what it takes in. The deciding factor is not only the probability of a win but also the size of those wins.

You can program a slot machine game to pay off at 1 for 1 odds 50% of the time, and if the rest of the prizes hit seldom and arent big, the payback percentage can be really low.

Youll get plenty of bad advice about gambling. It doesnt even matter what kind of gambling you do. Hopefully, youve learned a thing or two from the advice Ive given against what may be commonly heard. What kind of bad advice have you gotten about gambling?

Link:

Casino Gambling Advice to Avoid - Tips on Casino Gambling - BestUSCasinos.org