Gambling Blog

The future looks bright indeed for mobile gaming, with a recent report projecting that the global industry will be worth as much as $12 billion a year by 2010.

The figures, released by the analyst firm Juniper Research, show that ever-improving technology has led the sector to grow from nothing to being one of the gambling industry’s biggest earners in just a few short years.

This strong growth has also been driven by the liberalisation of remote gambling rules and regulations in a number of regions across the world, most notably with the recent Gambling Act which came into effect across the UK at the start of September.

Research carried out by the firm also revealed that global gross winnings from mobile gambling services are likely to rise from the current level of $106 million to $3.2 billion within the next five years as operators share their success with players.

Just recently, card legend Gus Hansen put his name to a new ‘Million Dollar Poker’ game for mobile gamers only.

As we approach the run in for qualification for next years UEFA European Championship tournament, things are certainly starting to hot up with some of the big names fighting for their lives, and some of the relative under dogs crawling their way to next years tournament.  So who is at risk and who is safe?

By far one of the most intriguing of groups is qualifying Group B which see the Scotland team sitting on top of the table, with the mighty Italy and Ukraine trailing in second and third.  There are only two teams to qualify from this Group, and with Scotland’s recent “double” over the French, they are certainly in the driving seat.  But can they hold their nerve?

There is another interesting tussle in qualifying Group E where England have made up some ground after their indifferent start, with a couple of home wins.  Next up are the Russians in what may turn out to be the make or break game for both side.  Croatia are pulling away at the top, and it seems as though it will be between England and Russia for the second qualifying place, and the road to riches.

Elsewhere it is sad to see the likes of Belgium, Denmark, Republic of Ireland and Hungary struggling to qualify for a tournament in which many of them were seen as permanent fixtures.  It seems as though the masses of money being poured into the game have resulted in some of the weaker national leagues struggling to bring their own players through - unfortunately at the expense of some of the well know national teams.

It will be interesting to see how the qualifying games conclude with so many of the “big teams” struggling to stamp their authority.  While there are sure to be some shocks in qualification, there will also be some more shocks when Europe’s elite footballing teams meet next year - bring it on!

The recent Twenty20 Cricket World Cup has proved a success both on and off the field with revenues up in almost every corner of the sport.  We have seen a massive increase in advertising revenues, viewing figures are on the way up and the players seem to be enjoying the challenge of this fast and furious sport.  But what about the gambling aspects?

The gambling markets have been one of the main beneficiaries of this new and exciting sport, where teams slog it out for just 20 overs to see who can put the most runs on the board.  Sound easy?

The game is as topsy turvy a sporting event as you will ever come across, with teams going for the big hits almost from the start.  There is no time to play yourself in, no time to find your line and length, just a swing of the bat and keep that run rate on the up and up. 

The game has also proved to be a major leveller between the big countries in the sport, with India taking the honours in the recent event.  Not among the favourites before the tournament started, they showed great strength in the field and their batting was amongst the best in the tournament - reaching a high of six 6s in one over against a struggling England team.

How do you gamble on the Twenty20 Cricket market?

This event is perhaps the most suitable to in-play gambling where the odds will change almost each over, when runs are scored and wickets fall.  There were many close calls in the last tournament, with many games going down to the last few balls - perfect for those gamblers looking to take a chance on some of the big odds!

Who would have thought cricket could be so explosive - what a difference to the 5 day test marathons we are used to seeing.

The eagerly-awaited Osbournes video slot game has finally been released by its makers Microgaming after a long period of development.

Given their high profile, the family were seen as the ideal brand to bring slots to a new generation of gamers as well as provide a colourful alternative for established enthusiasts.

While the Osbournes first came to global fame through their MTV show, since then they have all branched off to pursue successful careers, with Sharon judging her fourth series of the X Factor on UK screens while daughter Kelly is currently treading the boards in London’s West End.

“The developers at Microgaming have done a fantastic job at bringing all our family to life within the game and they’ve even managed to immortalise my beloved dog, Minnie! I’ll certainly have a little flutter when it’s launched,” said Sharon.

The game, which is to be rolled out in casinos across the world, is a five reel 20 pay-line slot jam featuring a number of free spin options, on-screen trails and big cash prizes.

“This announcement isn’t just about one of the biggest game launches of the year, but one of the biggest game launches since this industry started - from any software provider,” said Roger Raatgever, Microgaming’s CEO.

“To be launching a video slot featuring one of the most famous families in the world just shows how far into the entertainment industry we’ve come and long may it continue.”

The world’s largest gaming operator, Las Vegas Sands Corp, has confirmed that it is in talks with local authorities in the state of Kansas about the possibility of opening a new multi-million dollar casino there.

The group has put forward a proposal to the Unified Government of Wyandotte County outlining its plans for a world-class resort within the metropolitan area of Kansas City.

To support its claim, Sands has referred to its impressive track record in bringing gaming to cities across the country, with its venues having increased tourism numbers and given local economies a welcome boost.

“With more than 50 million square feet of development underway worldwide, our company is uniquely qualified to take on the important challenge of expanding Wyandotte County’s already burgeoning tourism infrastructure,” the gaming operator said in a statement.

“Whether it is The Venetian in Las Vegas or any of our other developments, we have clearly demonstrated that our ability to conceive, build, and operate world-class destination resorts is incomparable on an international level.”

Just recently, Sands announced that its Atlantic City resort will be demolished on October 18th, though it has also revealed plans for a new $1.5 billion megaresort to be constructed in the New Jersey city.

If the rumours from Brussels are correct, it seems as though the US and Europe are on the verge of a major fallout after European gambling companies were prevented from trading in the US.  While we have covered this in detail on this blog, there are now accusations that the US authorities acted illegally when they took their actions.  Many see this as protectionism of the highest order, but what really is going on?

The World Trade Organisation (WTO) have become involved in the dispute, which has actually seen the US government put forward a compensation package for those who have suffered from the online ban.  While the package recently presented to the EU was well below the $100 billion demanded by the major players, there are signs that the situation could escalate.  Currently there are no barriers for US entry into European gambling markets, although if the situation is not rectified fairly quickly, we could see US operators banned from EU markets.  But would it end there?

There has long been scepticism in the EU with regards to the treatment of overseas operators by the US authorities across a range of industries, but the ban on the lucrative gambling market seems to have been one action too far.  While there are ongoing talks between both the EU and US authorities and with online gambling companies direct, the situation is far from being resolved.

Historically the US authorities have not reacted well to the threat of sanctions, but they may need to sit up and take notice with their own gambling industry on the verge of being cast into the wilderness.  There is no way that the US authorities can afford to throw away exposure to the growing EU market, and you would expect a compromise deal sooner rather than later, but who knows what will happen?

Over the years the Bookmaking profession has acquired a reputation for taking on just about any bet you could care to think of.  We have had fathers betting on their children playing for their country at a sport, bets on a hole in one in golf and gambles on the length of speeches at political gatherings, but where does it all end?

To understand how a bet can be accepted you need to learn the principles of the betting industry, i.e. there will be a market where you can find someone to place the bet, and someone to lay the bet.  Whether you have one thousand people placing and laying bets, or just the one on each side, you have a market. 

The beauty about the betting industry is the fact that it is constantly growing and constantly changing, with TV gambles introduced over the last few years, bets about flying to the moon and finding life on Mars.  These are all strange bets which would have never been taken on thirty years ago, but due to statistical analysis and good old fashioned gut feeling, new markets are popping up all over the place!

So do the Bookmakers often take a hit on those obscure gambles?

While we often see strange bets highlighted in the newspaper, where someone has maybe bet £10 on their son to play for England at football, for each one that has been successful there are probably tens of thousands of similar bets which have flopped.  Bookmakers will know the rough chances of certain events happening, which is why they can offer such large odds on some of the more obscure gambles.  For each one they pay out on, they will have taken many more which came to nothing.

Gambling is an industry which is constantly evolving and if you want to place even the most obscure bet, there is every chance you will find someone to take it on if you look hard enough.  Finding a winning obscure bet is a little more difficult!

Gaming regulators in Nevada are considering giving the go-ahead to plans to introduce debit card operated voucher machines across the state’s casinos.

Despite the technology being in existence, the authorities have long opposed the idea of having slot machines which can directly accept debit cards for the simple reason that players could lose all their money with a run of bad luck.

The new scheme, however, would be something of a compromise and allow players to use their cards to obtain cash-equivalent vouchers which can then be used to play the slots.

While the planned move has led to criticism from some gambling addiction groups, the industry claims that there is no reason why the new machines would lead to a growth in problems.

“We’re not really pushing the envelope here because gamblers already have access to nearby ATMs to withdraw cash,” Tom Sears, the head of Global Cash Access, the ATM supplier to casinos, told the Las Vegas Sun.

With casinos all for the machines given that they cut back on overheads, it looks likely that the move will go ahead, though some venues have announced that they would be willing to impose withdrawal limits on their machines.

While there are many different types of sports betting available both online and offline, do you really need to study the form? Do you even need to have an understanding of the sport?

To be honest, it is a necessity to know about the sport on which you are betting in order to spot any anomalies, and actually know what is happening.  However, there are those who believe that you do not actually need to study the form of the teams / individuals involved because the market will do that for you.  Is this really true?

There are certain sports where form can often mean nothing, with one example being horse racing, where some of the younger horses may be held back for a few races to give them experience.  You may then see them win a race form no where, and wonder where that run actually came from.  This is not fixing, this is just common sense, allowing a horse to get used to new surroundings and new pressures.  Pushing a horse too far too early can ruin a career, not to mention spook the horse!

There are other sports such as football (soccer) where the form will really be reflected in the betting odds, with very few major upsets.  As we mentioned in one of our earlier posts, a betting market can correctly be described as an information exchange. Information is passed and changes hands, which can often alter the odds on a particular out come.

While there are very few major shocks in the likes of football (soccer), if you do your research you can sometimes spot potential shocks, and anomalies on the odds for a certain event.  If you are brave and ultimately lucky, you will have times where you may pull off a shock result and collect some sizeable winnings.  However, you should never bank on these shocks as they are very few and far between.

Surely most online poker players have at times felt that their opponents, through their grasp of odds, cannot be human.

And it turns out they may well be right as one leading site announces that it is to refund players who may have fallen victim to card-playing robots.

Full Tilt has admitted that a number of bots have infiltrated its Texas Hold’em Limit tables and may even have got onto the no-limit tables, however, due to their nature they have been almost impossible to catch out.

The security department at Full Tilt has sent out emails to a number of players telling them that they had fallen victim to the scam and confirming that they will be refunded for their losses.

While they have yet to announce any of the names of the rogue robot players, both Japinthesack and BeatMe1 have been mentioned on several online forums after arousing the suspicions of genuine players.

Of course, while the robots may be better at calculating odds, humans can also have advantages as they can bluff and play emotionally, as proven comprehensively in the recent man versus machine tournament in Canada. 

Anyone who has ever gambled will at some stage have wished that they were the “house”, the “bookie” or the third party taking on our bets.  But is life really so easy on the other side of the table? Is it really all champagne and caviar? One day it may be caviar, the next day it may be yesterdays sandwich!

Life on the other side of the gambling “table” is not as easy as many would have you believe, or which you might even believe from your own experiences. Whether you are looking at a “house” card game or sports bookmakers, on balance the margins are very small and the parties involved really depend upon the volume of players and the volume of money going through their books.

There are very few bookmakers or casinos who would take a massive gamble on one bet, for fear that it could actually have a grave effect on the business.  In sports bookmaking you may see the “house” take on a big bet, but the chances are that this is covered by wins on other positions, or else all or part of it has been hedged off to reduce the liability.

While the gambling industry often benefits from the publicity surrounding a  big win, or even a big loss, it can effect the perception which the public have of the industry.  While a lot of the larger companies may announce record figures from time to time, these tend to be a very small percentage of the gambling stakes which go through their books.

However, sites such as the betting exchanges are in a no win, no loss situation, because they do not take on any liability themselves, leaving the gambling public to place bets and lay bets to make the market - with the exchanges taking a commission on each transaction.

The casinos and bookmakers are very different, and they play the averages game, knowing that if they have their calculations correct they will always retain a percentage of their turnover as profit.  However, forecasting this profit on a monthly or yearly basis can often be difficult.

Soon after it relocated to Washington to be closer to the political action, the Poker Players’ Alliance (PPA) has announced that it is to hold a policy conference at the end of next month.

Between October 22d to the 24th, the lobbying group will meet with its members to discuss the future of the online gaming industry in the US, particularly relevant as Congress are set to convene to examine no less than four major bills covering the area.

In an email sent to its 800,000 members, the PPA stated: “You will have a chance to meet with Members of Congress who will vote on this important issue, and mingle with many of the best poker players and pros from across the United States.

“In addition to a great conference, we will schedule a meeting with your Member of Congress and work with you to make sure they get the message that poker is a game of skill and that reasonable regulation is the best policy approach to Internet gaming.”

The PPA’s conference will be held at the Omni Shoreham Hotel with the organisers providing transportation from the venue to Capitol Hill in order to allow its members to lobby their representatives there.

If you have read the UK press over the last 12 months you will no doubt have noticed the constant drip feed of bad press against the gambling sector, and the harm it is doing to society.  Well, those people who “speak for the nation” may just have had the wind taken out of their sales with news that there is no gambling crisis in the UK.  A report by the respected Gambling Commission has found no change in the UK population’s gambling habits of late.

The fact that the UK government have taken the moral high ground on gambling and seem determined to squash any chance of growth in the UK does not quite fit with the every expanding use of the National Lottery (lets not forget that this is gambling).  The lottery has been used to fund the Millennium Dome and the next big pay day will be going to the Olympic Games.  All through a scheme which was supposed to pass funding to people who needed it, not line the pockets of the various government projects which are bound to over shoot their budgets.

There is now a sneaking suspicion that the authorities will try to put some kind of negative spin on this latest report, or perhaps wait until a report is released which says what they want to hear.  They obviously have an agenda against the gambling industry, yet they are willing to allow increased advertising, and have also been trying to attract online companies to register in the UK.

At this moment in time it seems that the UK government’s attitude and policy towards the gambling sector is very dis-jointed.  On one hand they will push the National Lottery at every opportunity, and allow more advertising, yet they have blocked the creation of more casino licences.  Quite how this story is set to pan out remains to be seen.

The gaming giant Harrah’s is set to unveil to the waiting world the final phase of the upgrade to its Atlantic City casino.

While no visitors to the New Jersey gambling capital could fail to notice the 44-story hotel and the work being carried out on the outside of the venue as part of the $550 million program of refurbishment, it is what has gone on inside that the group is particularly proud of.

The hotel’s capacity has been increased by a whopping 60 per cent, now boasting a total of 2,591 guest rooms, including 961 rooms, 104 suites and eight ’super-suites’ in the tower, the bottom 12 floors of which will be opened at the start of next year.

“The opening of the Waterfront Tower will complete the debut of the new Harrah’s Atlantic City,” said R. Scott Barber, senior vice president and general manager of Harrah’s Atlantic City.

“Our $550 million expansion project has truly transformed the Harrah’s property into a major resort destination. The completion of this extraordinary tower and its high level of service offerings will ensure that we are better able to meet the increased needs of our loyal customers, while also welcoming new guests to share the unique and dynamic Harrah’s Atlantic City entertainment experience.” 

Also, proving that nowhere can escape the reach of the Seattle coffee company, Harrah’s have announced that the first floor of the tower will be home to a Starbucks which, along with a number of other outlets will make up its “Taste of the Shore” emporium.

While it may seem very strange, you would be surprised at the similarities between professional gamblers taking a punt on the next gambling event, and stock brokers who are shifting around million of dollars a day.  So would a professional gambler make a good stock broker?

Like any employment or hobby, you need to enjoy what you are doing to get the most out of it, but check out these similarities between gamblers (predominantly those who gamble in-play) and brokers :-

• Speed of thought.  Every gambler and every broker needs to be able to react quickly to ever changing situations.  Sometimes they will need to admit defeat, take a loss and call it a day, and other days they will be waving their winnings in the air!
• Mis-pricing.  This is an interesting similarity between gamblers and brokers, with both looking for the next “dead cert”, but also looking for situations where prices are wrong.  By either placing bets or laying bets (buying or selling shares) it is possible to make a quick turn on a pricing anomaly.
• Research.  While there are situations where you can run with your gut feelings, the majority of good bets and good investments need researched.  The more research you do, the more viable or unviable the transaction will become.  Remember those gamblers who noticed that each European Golf tournament had at least one hole in one? They stung the bookies for thousands of dollars because the bookies did not research the bet.
• Following the “hot money”.  Many gamblers and stock brokers make very good money by following the “hot money”, the informed punters who maybe have a little bit of inside knowledge.

These are just a few insights into the comparisons between a professional gambler and a stock broker and while it may seem a little odd, they are very similar creatures - except maybe their pay packets!