Category Archives: Gambling

If you want to play online real-money casino games in the state of Indiana, you dont have to travel to Michigan, where the practice is legal, to place your bets.

Hundreds of cyber casinos operated by offshore gambling sites allow anyone with a virtual private network to win or lose money without much fear of prosecution.

Jon Ford

We have to be honest with ourselves: People are doing it here in Indiana, said state Sen. Jon Ford, a Republican from Terre Haute who authored a bill earlier this year that would have allowed Indiana casinos and racetracks to offer online casino games. We theoretically already have iGaming. Its a matter of putting it into a regulated environment similar to what we did with sports wagering.

Ford is one of a growing number of elected officials, lobbyists and casino operators pushing Indiana and other states to allow brick-and-mortar casinos to host interactive online gambling, often called iGaming. The idea is to lure customers away from the black market and potentially bring in hundreds of millions of dollars in revenue for state government each year.

To bolster their case in Indiana, casino lobbyists point to a new study that finds that a legal online gambling market in the state would not negatively impact revenue at the Indianas 12 state-sanctioned casinos. Thats important, given that last year Indianas casinos generated $691million in wagering taxes.

And online gambling could add to the total.

In February, the Indiana Gaming Commission hired Pennsylvania-based Spectrum Gaming Group LLC to study internet casino gambling. The consulting firm found that Indiana could bring in $392million to $883million in tax revenue over a three-year period, depending on the tax rate the state applies to online wagering.

Matt Bell

The findings in the report mirror what we as an industry have been telling policymakers for the last several years said Matt Bell, president and CEO of the Casino Association of Indiana. Online casino gambling is a viable market for Indiana and can be a profitable endeavor for casino gaming properties in Indiana, and it can do that without cannibalizing business from brick-and-mortar casinos.

There are six statesConnecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginiathat offer the full spectrum of online gambling, from virtual slot machines to online card games. Nevada also allows online gambling but limits it to online poker.

Adopting the sportsbetting model

Recent history would suggest Indiana is poised to join the small roster of states to legalize online gambling.

In 2019, Indiana joined Montana to become only the second state to legalize sports betting after the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act, which had effectively outlawed sports betting nationwide.

In the three years and four months since wagering on sports was legalized, Hoosiers have placed more than $4billion in bets, and the state has realized more than $62million in sports wagering tax revenues, according to the Indiana Gaming Commission.

While states differ in their approach to regulating online gambling, there are three basic models: The open model, which allows any company to offer online gambling; the closed model, which limits licensure to state casinos; and the hybrid model, which requires third-party companies to offer digital gambling through licensing agreementsalso called skinswith existing casinos.

Indianas sports betting framework allowed existing land-based casinos to partner with third-party sportsbooks, such as FanDuel and DraftKings, to ensure the states existing casinos would not be hurt by the introduction of sports betting.

Casino operators say they would benefit if a similar model was applied to legal online casino gambling.

Alex Stolyar

Because of all the money that we as an industry have invested in brick and mortar we would hope that online gaming expansion would work through us like it did with sports betting, said Alex Stolyar, chief development officer for Full House Resorts, which owns Rising Star Casino in southeastern Indiana.

Previous efforts to legalize online casino gambling in Indiana have come up short.

Earlier this year, the Hoosier Lottery announced plans to offer internet games, a move that angered retail lottery ticket vendors. That prompted lawmakers to step in and pass legislation requiring legislative approval before the State Lottery Commission can begin online gambling or ticket sales.

Ford, one of several Indiana lawmakers to introduce online casino bills earlier this year, declined to say whether he planned to take the issue up next year, though he expects the Indiana Gaming Commissions recent study to serve as an impetus for the topic to come up again.

The majority of people who play online casino games fall between the ages of 21 and 39, according to the states report, a demographic the casino industry has struggled to attract.

It brings a new, younger demographic to the marketplace that every industry is struggling to connect with, Ford said of online casino games. I think its very clear that younger generations want to do things on their mobile phones or through a digital process.

It also would add another revenue stream to a growing pot of money.

The $691million in taxes Indiana collected from its 12 casinos in the last fiscal year was up nearly 19% from about $583million in fiscal year 2021, according to an Indiana Gaming Commission annual report released in September.

Senate President Pro Tempore Rod Bray told IBJ that while conversations about internet casino gambling remain ongoing, its too early to say whether the concept could win the General Assemblys approval.

Funding recommended for addiction treatment

Christina Gray

If Indiana goes forward with allowing online casino games, it should dedicate a portion of its new revenue stream to gambling treatment and addiction services, said Christina Gray, executive director of the Indiana Council on Problem Gambling.

Her organization acts as a resource and advocate for people struggling with gambling addiction and their family members, although she stresses that it does not take a position on the legalization of gambling.

Ninety-five percent of people can do it responsibly, Gray says. Were here to advocate for the 4 to 5% that may have a problem.

Gray believes that legalizing online casino gambling could open the door for more young people to become addicted.

Youre legalizing it for someone out there that may not go to a brick-and-mortar, Gray said. I think the possibility is there that more people will have problems.

When it comes to funding for gambling addiction services, the most recently proposed online casino bills mimic the same language as the sports betting legislation, which allocates just over 3% of its revenue stream to such programs.

If online casino gambling becomes legal, Gray hopes that lawmakers will consider allocating a larger funding pot to help people struggling with problem gambling.

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Raising the stakes: Momentum builds to allow online casino gambling in Indiana Indianapolis Business Journal - Indianapolis Business Journal

CLEVELAND, Ohio Ohios casinos and racinos have had two record months, breaking records for gambling revenue in September and August.

Combined, the 11 facilities reported $188.6 million in gambling revenue in September, up from $185.4 million made in the same month last year, according to reports Wednesday from the Ohio Casino Control and Lottery commissions. September 2021 was also a record month.

Casinos and racinos are back to breaking records after going through a slow patch. Revenue was down from April through July compared to 2021.

Ohios seven racinos took in $107.2 million, a $675,000 gain compared to September 2021 and $20.4 million gain compared to 2019, before the COVID-19 pandemic. Ohios four casinos took in $81.4 million, a $3.3 million gain compared to 2021 and a $13.1 gain compared to 2019.

Read more: Paid to play: How JACK Cleveland Casino trains its blackjack dealers

The gambling revenue is what the casinos and racinos make after paying out winnings, but before taxes. About one-third of this money is forwarded to the state in the form of taxes or fees.

Through the first nine months of 2022, the casinos and racinos have collected $1.76 billion in gambling revenue. Thats 1.3% ahead of 2021, when $1.74 billion was collected through September.

Gambling revenue was up 1.3% in the Cleveland market, compared to 2021.

* MGM Northfield Park had revenue of $23.7 million, up 3.4% from $22.9 million in August 2021.

* JACK Cleveland Casino had revenue of $21.9 million, up 3% from $21.3 million.

* JACK Thistledown Racino had revenue of $14.9 million, down 4.2% from $15.6 million.

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Ohio casinos and racinos are on a hot streak after second straight month of record gambling revenue - cleveland.com

Over a 51-day period authorities have discovered more than 100 illegal gambling dens, resulting in more than 250 individuals landing in court to face charges. Police

Over a 51-day period authorities have discovered more than 100 illegal gambling dens, resulting in more than 250 individuals landing in court to face charges.

The National Committee for Counter Trafficking (NCCT) said in an October 7 press statement that police and relevant authorities launched operations to check 9,622 locations suspected to be involved with illegal gambling. Of those locations 116 were found to have violated the law by engaging in illegal gambling activitities and 253 individuals were sent to the courts for further action.

NCCT said that in the 51 days from August 18 to October 4, police and relevant authorities also educated people in various villages and communes across the country about the law on the suppression of illegal gambling and the impacts of illegal gambling on their communities.

The statement said that the authorities will continue to investigate and keep an eye on all suspected locations to ensure that they do not resume their illegal gambling businesses.

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Over 100 illegal gambling sites raided with more than 250 suspects apprehended - The Phnom Penh Post

New York, US, Oct. 07, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), GlobalMobile Gambling Market Research Report: By Type, End-User, Region - Forecast till 2030, the market will reach USD 154.81 billion at a 12.10% CAGR by 2030.

Mobile Gambling Market Drivers

The integration of blockchain technology will boost market growth. Transparency in gambling activity is ensured by the blockchain's ability to make safe payments. Due to the speed and security of bitcoin transactions, gambling offers a wide range of chances. Because bitcoin transactions are subject to fewer regulations, they are now widely employed in mobile gambling.

Mobile Gambling Market Key Players

Key players profiled in the global mobile gambling market report include,

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Mobile Gambling Market Opportunities

Growing Popularity of mobile gaming market to offer Robust Opportunities

The growing popularity of mobile gaming will offer robust opportunities for the mobile gambling market over the forecast period.

Restraints and Challenges

Addiction to Gambling to act as Market Challenge

The addiction to gambling and security risks like cyber-attacks may act as market challenges over the forecast period.

Mobile Gambling Market Report Scope:

Browse In-depth Market Research Report (87 Pages) on Mobile Gambling Market:

https://www.marketresearchfuture.com/reports/mobile-gambling-market-5142

COVID-19 Analysis of Mobile Gambling Market

The pandemic is being viewed as a leisure time to sit at home and recognize their skills, likes, and dislikes for things and events, aside from the emergency and panic that have been caused throughout the world and especially where the rate of positive cases and transmission is high. Social media was flooded with diverse trends during the pandemic, which not only encouraged copying and following but also allowed users to identify their own skills and talents. The target demographic plays a lot of games on a variety of devices, including smartphones, tablets, mobile phones, iPads, & tablets, as well as online. With the programs being downloaded on numerous platforms, games like Ludo, cricket, Ludo King, driving, & Pubg, among others, witnessed a significant increase in popularity.

Another form of entertainment that has seen a significant rise in popularity is gambling. Some gamble with the intention of testing their luck, while others do so as a way to pass the time or for entertainment, and still others do so in order to make a significant profit that can be used for a variety of purposes. Gambling includes activities like betting, lottery, and bingo, among others, and is not just about the exchange of resources and money between different hands. The major competitors in the global mobile gambling market are improving their operations and providing various incentives in an effort to draw more customers to sample what they have to offer. In addition, the participants are legalizing their operations by offering clear services that are reliable and unquestionable. Additionally, the market is only being promoted for enjoyment and entertainment and not for any illicit purposes.

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Mobile Gambling Market Segmentation

The global mobile gaming market is bifurcated based on type and end user.

By type, the casino segment will lead the market over the forecast period.

By end user, gambling enthusiasts will dominate the market over the forecast period.

Mobile Gambling Market Regional Analysis

North America to Lead Mobile Gaming Market

Among the market activities being carried out by various competitors and geographies during the forecast period that ends in 2028, the North American area is projected to show the fastest growth. The primary cause of this is that only licensed bookies are permitted to operate in states like Nevada, New Jersey, and Pennsylvania under the US legal system as it currently stands. Additionally, mobile poker, mobile casinos, and sports betting are some of the market insights that are permitted to function in the area under the newly passed legislation. In terms of operations on the global mobile gambling market, New Jersey is anticipated to become the largest market. It is projected that throughout the upcoming years, North America would have steady growth.

It is projected that the region's growing regularization of the sector will fuel industrial expansion. Because gambling is controlled in these states, the legal structure in the United States currently only permits licensed bookmakers to operate legally in New Jersey, Nevada, and Pennsylvania. Online poker, sports betting, online casinos, and other forms of virtual gambling are now permitted following the adoption of new legislation governing and allowing it. Today, New Jersey is the US state with the largest regulated internet gaming sector since there are numerous live sports-books, apps, and websites in the area. Moreover, when it comes to online gambling, Canada is mostly an uncontrolled nation. Additionally, Mexican officials want to control the country's internet gaming industry.

Europe to Have Admirable Growth in Mobile Gaming Market

In 2021, Europe grabbed the largest market share globally. The region's substantial market share can be ascribed to the legalization of gambling in several nations, including Malta, Germany, France, Italy, and Malta. Additionally, the UKGC's Gambling Act of 2005, which allows businesses to advertise their gambling websites, as well as the growing popularity of online casinos, both significantly contribute to the mobile gambling market expansion in the area. In 2021, Europe held the highest market share, and it is anticipated that it would continue to do so going forward. The key force behind the region's growth is the region's simple regulations and safety standards.

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Additionally, the EU online gambling business is supported by the rising number of sports betting fans in European nations like the United Kingdom, Germany, France, Italy, and Spain.

Related Reports:

Global Online Gambling Market Research Report: By Game Type, Device Type, End-user and Region - Forecast till 2030

Casino Gaming Equipment Market Research Report: Information, by Type, Application and Region - Forecast till 2030

Metaverse in Gaming Market Research Report: Based on By Component, By Device Type, By Technology, By Age Group, Region - Forecast till 2030

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Mobile Gambling Market Projected to Hit USD 154.81 Billion at a 12.10% CAGR by 2030 - Report by Market Research Future (MRFR) - GlobeNewswire

ClubsNSW said in a written statement that it had no involvement in determining the content for the NAGS conference. It would appear that the program for this year has been finalised and has been publicly available online since 19 September 2022.

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The NAGS conference has lost credibility among public health researchers due to its ties with the gambling industry. But it continues to engage with government. Two of the panellists at the conference to be held at Sydneys Hilton Hotel in November are employed by the NSW Office of Responsible Gambling.

In 2014, keynote speaker Mike Daube, a public health researcher at Deakin University, expressed discomfort that the event was being held at Jupiters Casino on the Gold Coast. He then questioned the independence of research that was funded by gambling interests.

If you win and accept funding from one of the reputable research funding bodies you are beholden to nobody, he said. By contrast, seeking and accepting gambling or tobacco or alcohol - funding essentially makes you part of their public relations and lobbying strategy to prevent serious action at the population level.

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Blaszczynski, who has published research funded by ClubsNSW, said nobody had ever found inaccuracies in his work or argued with his findings. The NAGS conference offered an exchange of ideas and it was counter-productive for public health academics to boycott it, he said. You end up in a situation where the converted are preaching to the converted and you have no divergent view.

But Monash University public health professor Charles Livingstone said the conference influenced the policy agenda in government because it normalised responsible gambling, an industry term used to push responsibility onto individuals for succumbing to an addictive product.

If you look at the gambling policy in Australia you will see that responsible gambling has long been the paradigm, Livingstone said. And NAGS is a very good place to legitimise responsible gambling as the dominant paradigm.

ClubsNSW drew on the concept of personal responsibility in its opposition to a cashless gambling card that was pitched by Customer Service Minister Victor Dominello before gaming was stripped from his portfolio last year. Dominello proposed a cashless gaming card to target money laundering and minimise gambling harms. ClubsNSW fiercely opposed a proposal for the card to be mandatory.

A trial for a digital wallet scheme launching on Saturday will link patrons mobile phones to 36 gaming machines at Wests Newcastle that have been installed with the technology. Patrons will be able to transfer money directly from the gaming wallet on their phone onto the machine through Bluetooth, and set playing time and expenditure limits.

The scheme will be voluntary.

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The gambling research organisation that gambling companies love - Sydney Morning Herald

07 October 2022

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Poland's Naczelny Sad Administracyjny (NSA), thecountry's Supreme Administrative Court, has published itsjudgment on potential incompatibilities between the Polish GamblingAct and European Union law. This judgment had been eagerlyanticipated by foreign operators who were hoping for a change tothe law governing the register of web domains used to offergambling services.

In Judgments made in May 2022 (case file: II GSK 1828/1and June 2022 (case file: II GSK 1974/18)the NSA laid out its interpretation of the provisions of the Treatyon the Functioning of the European Union (TFEU) and, inter alia,Article 56, Article 267 TFEU and Article 15f(4) and (6) to (10) ofthe Polish Act of 19 November 2009 on gambling games (i.e. Journalof Laws of 2022, item 888, as amended (The Act). It ruledthat the Polish Act was compliant with the provisions ofthe TFEU.

What did the cases in question involve?

The NSA's judgements

In summary, as ruled by the NSA, the Polish state monopoly oncertain gambling games introduced in the 2017 by amendment to theAct and the mechanism for entry into the Register of ProhibitedDomains is in line with European Union law and CJEU case law.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

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Poland's Top Court Rules On The Compatibility Of The Polish Gambling Act With European Union Law - Gaming - European Union - mondaq.com

by James Taylor, 7 October 2022

The Independent Betting Adjudication Service (IBAS) is interested in becoming the UKs new Gambling Ombudsman. The service currently deals with over 5,000 complaints a year. The organisation has 25 years of betting-related complaint handling and believes they have the right tools for the job.

IBAS Interested in Taking On Gambling Ombudsman Role Pixabay.

The Independent Betting Adjudication Service (IBAS) has thrown its hat into the ring to become the UKs Gambling Ombudsman.

Managing director Richard Hayler, speaking to trade publication EGR, believes its high time that the UK government introduces a Gambling Ombudsman. He feels the IBAS has the correct skill set and experience to fulfil the role.

IBAS believes the nature of a Gambling Ombudsman means the role needs experience and must hit the ground running rather than learning on the job. IBAS deals with 80% of UK gambling complaints, and since 1998 they have dealt with over 85,000 disputes. In 2020 alone, a total of 480,000 has been returned to consumers.

IBAS is approved by the regulator, the UK Gambling Commission (UKGC) and is an Alternative Dispute Resolution provider as the UKGC requires all licenced operators to provide a free complaint adjudication service to consumers.

In a white paper setting out their vision if they were to become the UKs first Gambling Ombudsman, they anticipated it would require a budget of 3.5m in the first year. 3m of this total would be for staff wages, with the remaining 500,000 set aside for operating expenses. In addition, IBAS stated they would need an additional 1m in the first year to transition from IBAS to the Ombudsman role.

These costs would be funded by a mandatory levy on the gambling industry.

When asked if IBAS was equipped to take on the role of Gambling Ombudsman, Hayler said: Overall, I think were largely equipped to deliver the role well. One of the difficulties we have is that when IBAS was originally set up, it was designed to deal with relatively niche cases, and we havent increased internal resources proportionately or updated our structure in line with the current gambling landscape.

We also need to take on some additional expertise to be able to deliver everything we need and want to be, particularly in terms of looking at questions of whether or not a company has acted responsibly.

IBIS project that it would receive around 7,5000 complaints in the first year. Of these, they expect to resolve 5,000 of them. They believe 2,000 cases would need to be referred back to operators to complete their internal complaints process. They predict 500 requests would fall outside the Gambling Ombudsmans remit.

They estimate that the average operator cost would be 400 for each resolved complaint.

Hayler said: I welcome the creation of a new Ombudsman, but for this to work, it needs to be run by an organisation that understands the sector and has a track record of helping and protecting consumers.

An Ombudsman with additional resources, built on the foundations of IBAS, is best placed to hit the ground running, protecting consumers, and raising industry standards through fair, consistent decision making and constructive dispute avoidance feedback.

The IBAS has a unique history. Journalists launched it in 1998 as there was no way at the time for consumers to complain if a bookmaker refused to pay out or if they were dissatisfied with a product or service.

It was launched almost a decade before the government introduced the Gambling Act, and back then, a bet was considered gentlemens agreements and courts were often reluctant to get involved.

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IBAS Interested in Becoming The New Gambling Ombudsman - Bestbettingsites.uk

The Different Types of Gamblers

There are 6 types of gamblers: professional, antisocial, casual, relief and escape gamblers, serious, and irresponsible. Pathological propensity for gambling was first discovered by Robert L. Custer, MD. It was him who created the first program for the treatment of gambling addiction. It is recommended to get acquainted with each type of gambler in detail.

These are players who use gambling to make money for a living. For many people, gambling is the main source of income. Such gamblers are well versed in the games they choose and play responsibly. They control their budget very carefully. Professional gamblers are not passionate about gambling. They only wait for the best bets to get the maximum winnings.

Unlike professionals, this type of player uses different ways to get money illegally. These players are usually members of different organizations that place bets on horse racing and dog racing. They play dishonestly and use different frauds to get their winnings.

Such gamblers choose gambling to relax and have fun. For them, gambling is a way of relaxation. This hobby has no effect on family relationships, social or professional responsibilities. For example, they can play a few games of poker, bet on the world championship or participate in the lottery. They dont play every day and go to online casinos when they are in the right mood.

Serious gamblers spend a large amount of time on gambling. For such players, it is the main source of distinction, but gambling is not the most important thing in life. Profession and family remain a priority. This type of gamblers can be compared to people who choose a hobby for recreation and entertainment. Serious players keep control over their budget and play responsibly.

Such gamblers choose gambling to feel some relief and escape from problems, depression, anger, loneliness, boredom, or other unpleasant emotions. With the help of gambling such gamblers try to escape from difficulties. Games have some entertainment effect, so they help them relax and have fun.

These are players who have no control over the game. For such players, gambling is the most important thing in life. Attachment is accompanied by a serious addiction that significantly affects all aspects of a persons life. It leads to the destruction of family, loss of friends, and jobs. Addicted gamblers may take rash actions. Their only goal is to win back as quickly as possible. Because the money goes fast, they may steal or do other immoral things. Such gamblers cannot get rid of their addiction on their own, even if they want to do so.

Among the famous and popular people there are also those who have an addiction to gambling. It is recommended to look at some of the most popular ones:

Famous rapper 50 Cent often makes big sports bets. He once bet $500,000. It was the famous match between the New York Giants and the San Francisco 49ers. At that time, luck was on the rappers side and he won. All of these people have one thing in common the presence of the sum, which can be lost without regret. Unlike ordinary gamblers who can bet their last $10, celebrities play big.

Gambling addiction can be devastating. Absolutely anyone can encounter such a problem. Wealth and age do not affect it. Even people with higher education and a good job can face such a situation. Much depends on the character of the person. Addicted players cannot give up the game even if they want to do so very much.

In the gambling industry it is important to understand that there are no bad casinos or betting companies. Just as there are no bad dealers. The whole industry is about making a profit. You can often see the sudden ups and just as sudden downs of gamblers. Many experts also argue that slots are programmed in such a way that casinos make a profit.

This is a relevant question, since slot machines are the most popular section of any online casino. Time flies by very quickly and even with a big win a person does not notice how he loses the whole bankroll. It is better to choosereal blackjack online, as you can apply a strategy to this game. The main signs of gambling addiction are the following:

Many people enjoy gambling and betting on sports. In this way, the hobby often turns into a dependency and gambling addiction arises. This is a devastating state and the person needs professional help.

It leads to debt and the deterioration of almost all aspects of life. Often gamblers begin to lead an immoral lifestyle, which is characterized by theft, abuse of alcohol and drugs.

To avoid such negative consequences, it is recommended to play as professional gamblers. If you like gambling, be sure to familiarize yourself with the principles of responsible gaming. According to statistics, every year more than 30,000 addicted players seek help. To this end, there are various anonymous clubs and psychological programs.

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Main types of gamblers and how to distinguish them - Yucatan Magazine

Cryptocurrency users who also gamble tend to be more mentally involved compared to their non-gambling counterparts, according to new research published in Computers in Human Behavior. The new study provides insight into some of the psychological patterns that characterize heavy cryptocurrency users.

Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, cryptocurrencies have become increasingly popular. But prices can fluctuate rapidly and investing in cryptocurrencies involves substantial risk.

The risk-taking aspect of cryptocurrencies has led researchers to examine the potential link between cryptocurrency trading and problem gambling. Study author Fred Steinmetz noted that trust in cryptocurrency and ideological motivation might play a substantial role in the use of cryptocurrency. Furthermore, little is known about cryptocurrency users who also gamble

Since the beginning of my research journey in 2015, my research topics included blockchain technology, cryptocurrency, and gambling. It was only logical for me to start investigating the intersections between these topics, said study author Fred Steinmetz, co-founder of the non-profit Blockchain Research Lab and author of Blockchain and the Digital Economy: The Socio-Economic Impact of Blockchain Technology.

For his study, Steinmetz analyzed a representative sample of 3,864 Germans regarding their use of cryptocurrency and engagement in gambling over the past year. The data was collected in 2019.

The participants were categorized into four separate groups: there were 1,844 non-users (who neither gambled nor ever used cryptocurrency), there were 1,312 gamblers (who had gambled recently but never owned cryptocurrency), there were 708 crypto-users (who at some point owned cryptocurrency but had not gambled recently), and there were 435 crypto-gamblers (who at some point owned cryptocurrency and had also gambled recently).

Crypto-gamblers reported having significantly higher levels of knowledge about blockchain technology along with higher levels of trust in cryptocurrency. Crypto-gamblers were also much more likely, compared to regular crypto-users, to consider their ownership of cryptocurrency to be ideologically motivated.

Cryptocurrency is not only about trading alternative financial assets. In differentiation to, e.g. trading stocks, cryptocurrency users experience a different mental involvement, which relate to the narratives and ideologies which permeate the industry, Steinmetz told PsyPost. Cryptocurrency users with gambling affinity are more involved mentally, proactively and financially than non-gambling users.

In addition, crypto-gamblers tended to be younger, more likely to be male, better educated, and better off financially than non-gambling crypto-users. The profiles of crypto-gamblers resemble those of skill-based gamblers and stock traders but differ in terms of their average young age, Steinmetz wrote in his study.

The crypto-gamblers were further broken down into three distinct clusters. One cluster consisted of those with high ideological motivation and trust toward cryptocurrency and a moderate level of financial investment who used their cryptocurrency for the purpose of speculating relatively infrequently. The second cluster had high ideological motivation and trust, a high level of investment, and frequently engaged in cryptocurrency speculation. The third cluster consisted of crypto-gamblers with low ideological motivation and trust, low levels of investment, and low levels of cryptocurrency speculation.

Among crypto-users who also gamble, I identified a group which comprises the heavy users, who are highly engaged and potentially consider cryptocurrency and gambling substitutes, Steinmetz told PsyPost. The interrelations among the investigated variables suggest that high levels of mental involvement among crypto-users who also gamble induces higher engagement in terms of owning more cryptocurrencies and speculating more often.

The second cluster of heavy users accounted for a sizable share of crypto-gamblers. A ~35% share of heavy users among all cryptocurrency users who also gamble was not expected. This warrants further research on the domain, Steinmetz said.

The results suggest that rather than focusing solely on trading frequencies of cryptocurrency, researchers should broaden their scope by recognizing the importance of mental involvement of cryptocurrency users, e.g. trust-perceptions, proclaimed knowledge about cryptocurrency and ideological motivation, the researcher said.

The study, The interrelations of cryptocurrency and gambling: Results from a representative survey, was published online on August 22, 2022.

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Cryptocurrency users with gambling affinity are more involved mentally and financially than non-gambling users - PsyPost

A Massachusetts woman accused of stealing $200,000 from the Irish pub she worked at overcharged customers, voided meals and failed to pay employees in order to fuel her severe gambling addiction, authorities claim.

The theft of hundreds of thousands of dollars came after a Keno machine was installed in the restaurant.

Following that, the woman neglected her responsibilities as general manager, forged checks, stole money and played the Massachusetts Lottery game for hours at a time during her shifts, according to a memorandum filed in Plymouth County Superior Court by Assistant District Attorney Alex Zane.

55-year-old Maureen M. Graham was indicted last week by a Plymouth County grand jury on a variety of larceny, forgery and tax evasion charges, all stemming from her time working at The Voyage Irish Pub and Restaurant in the Humarock beach neighborhood of Scituate. The indictments came after a seven-month grand jury investigation in which 43 subpoenas were issued for financial records involving Graham, according to prosecutors.

Graham, a Plymouth resident, was hired as the general manager of the Scituate pub on March 14, 2018. She handled the restaurants daily operations and payroll, dealt with vendors, tracked cash sales and occasionally served as a hostess.

The owners of the restaurant were not aware that Graham had been terminated from at least one of the previous restaurants where she was employed after she reportedly stole funds from the business.

The restaurant fired Graham after she failed to deposit cash from restaurant sales into the designated bank account, prosecutors said.

After Graham insisted that installing a Keno machine would bring The Voyage more customers, owner Keith OCallaghan had a Keno lottery ticket machine installed inside the business in August 2019, Zane wrote in the memorandum.

The defendant became instantly addicted to Keno, Zane wrote. Voyage employees testified that the defendant spent hours standing in front of the Keno machine holding large wads of Keno tickets.

Beginning in 2019 and over the course of 18 months, prosecutors claim, Graham stole roughly $200,000 in cash from various bank accounts belonging to The Voyage that she managed including an account for Keno funds.

Graham often shifted funds around from the various bank accounts to cover her losses if she did not win when playing Keno, according to prosecutors.

The defendant rarely paid for her Keno tickets, Zane wrote. One Voyage employee testified that the defendant played suicide Keno. Employees witnessed the defendant taking tickets from the restaurant without paying, hoping to win back enough money to cover the cost of the stolen tickets.

Graham gambled at least $91,631, betting on the numbers 2 10 67 at the restaurant, prosecutors claim.

The indictments also claim Graham forged checks in her employers name and filed false tax returns in 2020, 2021 and 2022.

The defendant took these stolen checks and cashed them, transferred funds to her Santander bank account, shifted funds into the lottery account, or transferred stolen funds into the Coastal Heritage bank account she shared with her husband, the memo said.

Grahams Keno addition only increased during the months the restaurant was closed due to state-wide regulations during the height of the COVID-19 pandemic, the memo claims.

Witnesses testified that while the restaurant remained closed to the general public, the defendant played an excessive amount of Keno, Zane wrote. She took advantage of the downtime and amped up her gambling.

Graham supported her gambling addiction by taking cash from unsuspecting customers of the Voyage, prosecutors said.

This included overcharging patrons for their food and drinks, voiding meals or drinks she blamed on customers unhappy with their meals. In total, Graham provided comp for approximately $22,652.08 worth of food and drinks while managing the restaurant, prosecutors claim.

Graham also failed to pay staff.

Parents of high schoolers who worked at the restaurant during the summer called and complained leading the owners to pay the employees out of pocket, the memo said.

The defendant mandated that servers and bartenders wait 24 hours before providing them their earned tips from the night before, the memo reads. This delay sometimes resulted in staff waiting several days (or weeks) to claim their compensation.

Grahams role as both manager and bartender improperly allowed her to collect tips earned while receiving a salary as restaurant manager, prosecutors said.

In the memo, Zane requested Grahams bail to be set at $15,000 along with the pretrial conditions that she refrain from all gambling related activities, and stay away and have no contact with the Voyage Irish Pub and Restaurant.

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Severe gambling addiction behind womans $200K Scituate Irish pub theft, prosecutors say - MassLive.com