Category Archives: Gambling

I have a gambling problem. I admit it.

Its bad. And embarrassing. And its got to end.

But wait. Its not what youre thinking. Or what I think youre thinking. You see, my problem isnt that Im betting too much. Im not betting enough.

Battle of Midway gets a bath.

Photographer: Scott Serio/Eclipse Sportswire/Getty Images

I was horrified to realize the other day that my 2017 racetrack wagering is down more than 70 percent from previous years. Come on. A man who calls himself a handicapper and a gambler -- someone who had his first encounter with an OTB as a toddler and was raised on the gospel of the Daily Racing Form -- has a reputation to uphold, a parimutuel obligation to fulfill. You know what happens otherwise? They downgrade you -- the racing gods do; theyre watching -- to "civilian" status. You become just another square, a zero.

There are any number of factors contributing to this mess (work, I will note to my bosses, being one of them) but Im vowing to put these troubles behind me. For tomorrow is the Kentucky Derby. And what better time to snap out of a betting funk than on the biggest racing day in America. I have meticulously pored through past-performance sheets, analyzed the film from dozens of races, dialed in to day after day of workout-session reports and am officially ready to gamble. No more fooling around.

McCraken grazes outside his barn at Churchill Downs.

Photographer: Alex Evers/Eclipse Sportswire/Getty Images

For those kindred spirits out there who are of a similar mindset, I offer up my analysis of the field, including my top pick, McCraken, who I will play to win and in exacta wagers with a pair of longshots: Tapwrit and Battle of Midway. (Horses are listed by post position. Odds are Churchill Downss forecast of how gamblers will bet the race.)

Read more about Kentucky Derby gamblers herd mentality

No. 1 Lookin At Lee (20-1) -- Something of a plodder. Unlikely to win but could clunk up late for a minor prize.

No. 2 Thunder Snow (20-1) -- Dubai ruler Sheikh Mohammeds horse. This will be his debut race in America. It wont be a winning one.

No. 3 Fast and Accurate (50-1) -- Slow and Accurate would be a more appropriate name.

No. 4 Untrapped (30-1) -- I cant knock anyone who wants to put a few greenbacks on him at a big price. His last race was better than it looks on paper. He can run a little.

No. 5 Always Dreaming (5-1) -- He might prove to be the most talented in this three-year-old crop when its all said and done. Hes fast and can seemingly run all day. But I dont love this inside post position for him and Im also not crazy about how high-strung hes appeared in his morning gallops in Louisville. Needs to settle into a comfortable beat early.

No. 6 State of Honor (30-1) -- Not without ability, but hes just too anxious in the early stages of races to run effectively at a long distance like this.

No. 7 Girvin (15-1) -- He comes into the race nursing a bad hoof thats compromised his training. Ill pass.

No. 8 Hence (15-1) -- Pretty quirky horse. Acted like a lunatic when winning for the first time back in January, then got trounced in his next start before rebounding to win a race in New Mexico. Maybe a candidate for a minor prize.

No. 9 Irap (20-1) -- He was a shocking 31-1 upset winner in his last race. I need to see him do it again to believe it.

No. 10 Gunnevera (15-1) -- Hell drop far back early and make a big, looping charge on the far turn. That style makes him a fun horse to watch, but he needs things to set up perfectly to have a chance.

No. 11 Battle of Midway (30-1) -- Probably in over his head but Im intrigued. Seems like a fighter. Playable at a big price.

No. 12 Sonneteer (50-1) -- Hes winless in 10 races, which kind of feels like a problem.

No. 13 J Boys Echo (20-1) -- Just OK.

No. 14 Classic Empire (4-1) -- Last years two-year-old champ is real classy and has shown an affinity for the Churchill Downs racing surface. I cant bet him at this kind of short price, though, given all the setbacks he had in his training this winter.

The most important business stories of the day.

Get Bloomberg's daily newsletter.

No. 15 McCraken (5-1) -- This horse is the goods. He relaxes nicely early, settles in toward the back of the pack and then flashes an explosive turn of foot late. True, he just suffered his first career defeat but that race was a means to an end -- a way to tighten him up for this spot. Besides, the lackluster effort will drive some gamblers away and push up his odds (expect him to drift above that 5-1 estimate). Hes undefeated on the Churchill Downs strip and has looked great the past few weeks. His trainer Ian Wilkes oozed confidence when I spoke to him earlier this week: I think hes peaking. So do I. And Im betting him.

Tapwrit gallops at Churchill Downs.

Photographer: Alex Evers/Eclipse Sportswire/Getty Images

No. 16 Tapwrit (20-1) -- A closer who possesses a big finishing kick. He needs to bounce back after flopping badly in his last race. Strong workouts the past couple weeks indicate he may be ready to do just that.

No. 17 Irish War Cry (6-1) -- Very nice horse. Capable of not only winning but winning in a romp. Yet, given how mysteriously awful his race back in March was (he finished more than 20 lengths behind the winner that day), I cant bet him at this price. Was it just some weird one-off blip? Or will he do it again Saturday? Its a nagging doubt in the back of his trainers mind. And mine too.

No. 18 Gormley (15-1) -- In a year of very erratic Derby contenders, he may be the most erratic of them all. And even on his best day, I suspect hes a cut below the top horses in here.

No. 19 Practical Joke (20-1) -- Hedge-fund guru Seth Klarmans horse is pretty talented but seems better suited for shorter-distance races.

No. 20 Patch (30-1) -- Cool name, interesting back story. Hes missing an eye. Hes also pretty slow.

(David Papadopoulos, a managing editor at Bloomberg News,votes in the thoroughbred industrys annual Eclipse Awards. He has been publishing his Triple Crown picks since 2012.)

Link:

My Gambling Problem Ends Kentucky Derby Day: David Papadopoulos - Bloomberg

The rector of a Delaware County retirement home forPhiladelphia Archdiocesepriests admitted in federal court Thursday that he embezzled more than a half-million dollars from the residence over nearly nine years.

Msgr. William A. Dombrow told U.S. District Judge Gerald J. Pappert that he siphoned funds from a private account set up to support Villa St. Joseph in Darby Borough.He pleaded guilty to four counts of wire fraud.

Much of the money that flowed into that account came from life insurance payouts of priests who had died while residing there or bequests from the estates of parishioners.The facility also houses priests who have been accused of sexual abuse.

Dombrows theft was discovered last year after the bank that administered the account flagged several suspicious transactions atHarrah's Philadelphia Casino & Racetrack in Chester, and notified the archdiocese.

In addition to paying off gambling debts, the monsignor used the money on $1,000 tickets to Philly Pops concerts,elaborate dinners, and at casinos in Aruba; Key West, Fla.; and the Poconos, Assistant U.S. Attorney Michelle Rotella said.

He agreed to cooperate with archdiocesan investigators after being confronted with the theft last summer. Dombrow remained rector at the Villa St. Joseph, although the archdiocese restricted his administrative duties to ensure he no longer handled finances.

Among the money that Dombrow was accused of embezzling was $14,410 left to Villa St. Joseph by the Rev. Francis P. Rogers, against whom numerous sexual-abuse complaints had been lodged prior to his death in 2005. They were spelled out that year in a Philadelphia grand jury report detailing the history of priest sexual abuse throughout the archdiocese.

Dombrow, 77, was ordained in 1970 and served as pastor and parochial vicar in several parishes. A recovering alcoholic, he devoted much of his time to helping other priests with their struggles with addiction. He previously led the Archdiocesan Priests Committee on Alcoholism and a center for those seeking help with addiction treatment.

Under federal guidelines, he could face a sentence of about three years at a hearing scheduled for August.

Published: May 4, 2017 1:16 PM EDT | Updated: May 4, 2017 1:52 PM EDT

We recently asked you to support our journalism. The response, in a word, is heartening. You have encouraged us in our mission to provide quality news and watchdog journalism. Some of you have even followed through with subscriptions, which is especially gratifying. Our role as an independent, fact-based news organization has never been clearer. And our promise to you is that we will always strive to provide indispensable journalism to our community. Subscriptions are available for home delivery of the print edition and for a digital replica viewable on your mobile device or computer. Subscriptions start as low as 25 per day. We're thankful for your support in every way.

Original post:

Monsignor admits to embezzling $500K to cover gambling debts, dinners, concert tickets - Philly.com

Deadline

TNT Buys Gambling Addiction Drama From Mark Cullen & Gary Sanchez Prods. Deadline Written by Cullen, The Collector is the redemptive journey of a man who has to work as an indentured collections expert for an agency specializing in gambling debts in order to pay off his own debts. It will look at addiction, corporate greed, flawed ...

Read the original here:

TNT Buys Gambling Addiction Drama From Mark Cullen & Gary Sanchez Prods. - Deadline

Miami Herald

No dice: Gambling deal falls apart over House and Senate differences Miami Herald After months of working on competing gambling legislation, Florida House and Senate negotiators declared an impasse that had no hope of being resolved by Friday, when the Legislature was scheduled to end its annual 60-day session. It's dead, said Sen. Gambling expansion fails again in Florida LegislatureSun Sentinel (blog) Push to Expand Gambling in Florida Folds AgainU.S. News & World Report Lawmakers Fold on Gambling DealMy Panhandle CBS Miami all 15 news articles »

See the rest here:

No dice: Gambling deal falls apart over House and Senate differences - Miami Herald

Wall Street Journal (subscription)

Osaka Bets That It Can Become a Gambling Mecca in Japan Wall Street Journal (subscription) OSAKA, JapanThis commercial city has long been second to Tokyo. Now, with Japan weighing whether to approve casino projects that could cost some $10 billion to build, Osaka is wagering it can be No. 1 in gambling and entertainment. The city's hopes ...

Continue reading here:

Osaka Bets That It Can Become a Gambling Mecca in Japan - Wall Street Journal (subscription)

The Gambling Commission has levied its first financial penalty for advertising failings after fining Guernsey-based BGO Entertainment 300,000.

The commission said it had issued the fine for nine misleading advertisementsby BGO on its own website between July 2015 and July 2016 as well as 14 onaffiliates' websites between February and October last year.

Since May 2015, the commission's Licence Conditions and Codes of Practice haverequired all licensed gambling operators to avoid misleading consumers about promotions.

This means companies must clearly state what a 'free bet', 'bonus' or similar offeractually means and what consumers have to do in order to qualify for these things.

The commission asked online gaming companies in June 2015 to make sure their advertisements met the standards of the new rules but BGO was one of several companies that was identified for not complying.

The company's advertisements did not suitably outline what conditions there were around its promotions and so the commission deemed its advertisements "potentially misleading to consumers".

While BGO reassured the commission it would take action, the watchdog said it continued to find evidence that advertisements on BGO's website and on affiliates' sites were potentially misleading.

In May 2016, BGO commissioned an audit of its website that suggested some recommendations for BGO to follow but the company did not initially do thisand so continued to breach advertising-related rules.

Following further engagement, the commission said BGO made the changes recommended in the audit in late July 2016 but that it continued to find and capture evidence of ongoing breaches in relation to advertising on third-partywebsiteswith which BGO had a contractual relationshipup to October 2016.

The rest is here:

Gambling Commission issues first fine for advertising failings against Guernsey-based BGO - Telegraph.co.uk

CCTV showedformer air steward filla jerrycan with petrol and use the dead man's bank card to pay for it

AN insatiable gambler who chopped up and burnt the remains of his wealthy friend so he could steal his identity and fortune has beenjailed for life.

Debt-ridden Ming Jiang, 43, lured businessman Yang Liu, 36, to his Manchester flat and killed him before dismembering his body with a saw.

Cavendish Press

PA:Press Association

Cavendish Press

Cavendish Press

He murderedMr Liu in a bid to steal his identity and get his hands on his cash and 185,000 dockside apartment at Salford Quays in a ruthless bid to solve his gambling problems.

CCTV images showed the former Lufthansa air steward and ex-Louis Vuitton worker filling a jerrycan with petrol and using the dead mans own bank card to pay for it before withdrawing cash from an ATM as part of a sick ploy to cover up his gruesome murder and dispose of the body.

But Jiangs plan came unstuck and he was today jailed for life for murder, ordered toserve a minimum of 33 years.

Judge John Potter branded the murder grotesque and told Jiang: You killed a gentle and kind young man with dangerous cunning for your own selfish desire to feed your gambling habits. You befriended this man and moved in the same social circles as him.

You were given special status in some casinos, despite being banned from others for what is reported as your erratic behaviour. But you came up with a plan which was chilling and which was a murder committed by you for personal gain.

You killed him quickly and your plan was to dispose of his body so as not to leave a trace. You made it look as if he he had disappeared then used your previous experience in identity theft to adopt his identity and thus maintain your VIP persona.

You spent liberally on his credit cards and accounts, even purchasing the petrol you would use to douse his body and set on fire with one of those cards. I cannot begin to understand the torment and anguish the parents of the deceased are feeling.

Cavendish Press

Cavendish Press

Minshull Street Crown Court heard Jiang racked up accumulated gambling losses of 273,115 in two Manchester casinos.

He had metMr Liu while playing poker and roulette wheels at the swanky 235 Casino in Manchester.

Jiang was arrested at a casino on October 20 last year after he was found to have the victims mobile phone and passport on him.

Jiang, who denied the murder, claimed he and Mr Liu were gay lovers.

Police raided Jiangs flat and found traces of Mr Lius blood over the walls, ceilings and sofa where the body was cut up.

The victims headless remains were kept hidden inside Jiangs property for up to four days before they were stuffed in a suitcase.

He then took the suitcase to a remote Peak District layby where they were doused with fuel and set on fire.

Three of the victim's limbs and head were never found and it is not known how he died.

CCTV captured Jiang's Mercedes driving away from the layby on the night Mr Liu's charred body was discovered.

The court heard he used Mr Liu's Barclaycard to buy paints and cleaning products from B&Q to cover up the crime scene before hacking into his victim's Lloyds and Barclays accounts to get cash.

Over the following days, Jiang used the dead man's money to buy 178,000 worth of chips before blowing the lot in the casino - gambling away 800 on the night he dumped and torched Mr Liu's remains.

He also put the victim's flat up for sale and was seen behaving in a "fidgety and rushed" manner during a meeting with a property firm about the selling of Mr Liu's possessions within the apartment.

Peter Wright QC prosecuting said: "This was a murder done for gain. It was about as cold and ruthless as it was calculating."

Cavendish Press

Detective Chief Inspector Terry Crompton, of Greater Manchester Police, said: "Lui's family have been completely torn apart by his death.

"Not content with committing the brutal and disturbing murder of his friend, Jiang sought to hide his crimes by abandoning and burning his body before stealing his identity, emptying his bank account and trying to sell his property.

"The pain of Lui's death will haunt his family. It was a despicable crime."

In a statement, Mr Liu's heartbroken family said: "The pain we're suffering is beyond words. We think of our son all the time and we strongly condemn the brutality of the murderer.

"Our physical and mental sufferings can never ever be repaired."

We pay for your stories! Do you have a story for The Sun Online news team? Email us at tips@the-sun.co.uk or call 0207 782 4368

Read the original:

Gambler who chopped up and burnt his wealthy friend's body in a ... - The Sun

For more than 40 years, New Hampshire legislatures have debated the merits of legalizing casino gambling, and for 40 years they have rejected it. On Thursday, when it next convenes, the New Hampshire House will debate and vote on it once again.

Casino gambling would be wrong for New Hampshire. We urge representatives of both parties to reject it once more. Heres why.

First, and most importantly, casino revenue is not the state budget windfall that many people think it is. Most states that open the door do not stop at one or two casinos.

Across the country, state governments have become addicted to gambling dollars to fund new or expanded state programs. Experience shows that in any economic downturn these states then turn to gambling tax revenue to try to balance their budgets.

When existing gambling revenue isnt enough they have to add more games and more locations to keep state programs going. This becomes a perpetual problem that only builds on itself. Every state that has opened the door to gaming has experienced this cycle.

Second, it wont take long for the gaming industry to gain undue political influence. All you need is for the owner of a casino, which delivers millions of dollars to the state, to take a position on a bill and say, If you dont pass this bill, or veto this bill, Im going to have to lay off hundreds of people, and legislators will be pressured to go along. Just ask state officials in Delaware, which bailed out its casino industry a few years ago to the tune of $8 million.

Third, the potential total revenue from the two casinos the current bill proposes is about $650 million. Where is this money going to come from? It is not like there is the potential of incremental discretionary spending. Its a zero sum game.

The money spent in casinos will come from spending that will be shifted away from local restaurants, shops, theaters or other small businesses into the coffers of large corporations. The $650 million diverted from local businesses to corporate casinos represents the loss of hundreds of jobs and potentially empty storefronts on nearby main streets.

Fourth, as casinos advertise, which they most certainly will, the New Hampshire brand image will change dramatically. The state does not have the dollars to match casino advertising.

Our brand will change from a family-friendly state to one that specializes in gambling. To put it in perspective, over the course of a year Foxwoods and Mohegan Sun in Connecticut spend roughly $25 million in advertising. The state of New Hampshire spends approximately $6 million.

We are not opposed to gambling for moral reasons. We are opposed to it because we believe that it will have an overall negative impact on the state of New Hampshire.

Our state is rated as one of the most livable, one of the safest, and the best state in the country in which to raise children. Why would we ever go forward with a structural change that could negatively impact those metrics?

The collective wisdom of the New Hampshire House of Representatives has served us well on this issue for the last 40 years. In a historic vote earlier this month, the Houses own Ways and Means Committee resoundingly gave the latest bill its thumbs down by a vote of 19 to one.

Casino gambling is the wrong choice for New Hampshire. We urge House members to reaffirm that on May 4. Lets not put at risk a successful strategy that is clearly working.

(Judd Gregg, a Republican, served New Hampshire as a member of the U.S. House of Representatives from 1981-1989, as governor from 1989-1993 and as U.S. Senator from 1993-2011. John Lynch, a Democrat, served as governor of New Hampshire from 2005-2013.)

See original here:

Our Turn: Why legalizing casino gambling would be wrong for New ... - Concord Monitor

Arsene Wenger believes that Arsenal are still the dominant club in North London, having competed in the top four for 18 consecutive seasons. Former Arsenal forward Paul Mariner explains just how important the North London derby is to Arsenal and Tottenham.

LONDON -- While betting companies have a massive presence in football these days, Arsene Wenger would like to see gambling banned completely from society.

The influence of betting companies has been a topic of debate this week after Burnley midfielder Joey Barton was banned for 18 months for breaking the Football Association's rules on gambling.

Barton admitted to having a gambling addiction after the verdict was made public, and criticised the FA for allowing betting adverts to be placed on TV, in stadiums and on team shirts.

Wenger did not argue against Barton's ban, but agreed with the player that there is a bigger problem to be addressed.

"Society is absolutely like that today. They encourage you to bet, but if you bet you're punished," Wenger told a news conference.

Wenger said that he would support a complete ban on gambling -- not just in football but in society as a whole.

Asked later to explain why, Wenger said: "Because I find it immoral that a guy who works like mad from morning to evening, and people who study and go to university, they work day and night. And after, somebody who does nothing and plays the right numbers, he wins 100 million. How can you defend that?"

Betting on sports is a massive business in Britain, with millions regularly placing wagers on football, horse racing, cricket, golf and other events.

Like most top clubs, Arsenal have a sponsorship deal with an official betting partner and regularly promote the company's offers on social media and the club website.

But Wenger argued that betting only rewards luck rather than merit.

"Yes, people enjoy it, but is it moral that a nurse in the hospital doesn't make any money and the guy who plays the right numbers makes 100m?" he said. "How can you defend that? If you want to encourage a society on merit, it's indefensible."

Mattias is ESPN FC's Arsenal correspondent. Follow him on Twitter: @MattiasKaren.

Read more from the original source:

Arsene Wenger: Gambling is 'immoral' and should be banned from society - ESPN FC

An international racing taskforce is set to begin investigating black market gambling.Photo: Getty Images

The Asian Racing Federation will later next month create one of the most powerful anti-illegal betting taskforcesin a bid to outlaw the haemorrhaging of billions of dollars of betting money to underground bookmakers.

The federation has signed a memorandum of understanding with the Australian Criminal Intelligence Commission and the Hong Kong Jockey Club is driving the campaign.

Members of Interpol will brief integrity officers from Hong Kong, Singapore, Australia and New Zealand on the impact of illegal betting and the size, scope and sophistication of operators.

The International Centre For Sports Security claims that 85 per centof the Chinese sports betting market, worth $US600 billion ($801 billion), is illegal. The majority of global illegal wagering is estimated at between $US750 billion and $US1 trillion.

"It will be a sophisticated and strong taskforce that will be put in place," said Racing Victoria executive general manger of integrityDayleBrown. "We are very keen to have an exchange of information with other countries across Asia."

Brown believes an audit trail of gambling dollars always ends when a punter turns to an illegal operator to bet with.

"We have made it a rule of racing that licensed people must bet with authorised bookmakers and it is against the rules to bet with these underground operators," he said.

"We've got to do it as a united front. In some parts of Asia, more than $1 billion is going out of the racing economy and that's got to stop."

Officials believe the taskforce will providea platform for co-operation and information sharing between 21 racing jurisdictions that make up the Asian Racing Federation.

One professional punter contacted by Fairfax Media said anyone in Australia thinking of betting with the likes of unregulated betting companies that are based in places such as the Philippines are simply crazy.

"OK, you have a bet with them and it wins and you never get paid," he said. "You're just encouraged to bet on until it's gone and, in contrast, if you owe them, they generally dangle you out of a high-rise building."

With gambling on racing flourishing throughout Asia, the need to have a strong taskforce that can travel to countries with problems is a must, according to integrity officers.

"First, we've got to see the size and scale of the operation and then make those governments in those countries aware of how much money is being siphoned out of their gambling economy.

"They will be the very best integrity operators you can find. All will have a strong law enforcement background."

Martin Purbrick, the Hong Kong Jockey Club's head of security and chairman of the taskforce, says the aim is to keep horse racing clean and help administrators understand how match-fixing works.

"Horse racing has had a long, historical relationship with betting which has left it better placed than some sports to deal with threats to integrity from betting," he said.

"However, illegal betting markets have grown hugely in the past decade, especially in Asia, and this has brought new threats from organised criminal groups who seek to profit from illegal betting markets and sports corruption.

"The ARF is resolute in combating this threat."

The rest is here:

Biggest ever taskforce to begin investigating black market gambling - The Sydney Morning Herald