Gambling Blog

The Atlantic City Hilton and Resorts Atlantic City have announced that one lucky winner of their forthcoming joint Wheel of Fortune slots tournament will walk away with $1 million.

The ‘winner-takes-it-all’ rules mean that hundreds of gaming enthusiasts will make the trip to New Jersey and endure the sounds of Barry Manilow for nothing, however.

Qualifying for the second annual event will begin at both venues at the start of next month, with the overall daily winner of the heats to automatically qualify for the grand final on November 24th.

“For the second year in a row, we are proud to present the incredibly exciting Hilton/Resorts $1 million winner-takes-all Wheel of Fortune slot tournament,” said Phil Juliano, Regional Senior Vice President of Marketing for the Atlantic City Hilton and Resorts Atlantic City.

“The power of two casinos enables us to hold these seven-figure tournaments and high-profile entertainment like Jerry Seinfeld and Barry Manilow. It’s why Hilton and Resorts are a winning pair.”

Last year Gary Kulawiak from Maryland became an instant millionaire after pusihing just a few buttons at the inaugural tournament.

If you look around the internet for help in a certain area, a specific technique or just general advice, it wont be long before somebody tries to sell you an eBook.  Written by an “expert”, you will be asked to part with your hard earned cash to hear about some “star” of the past tell you how they did it, how they made it to the big time - well maybe not.

In reality the mass of gambling eBooks available on the internet are actually written by people who have little or no experience of professional gambling.  They may know all of the terms, the way the industry work, but can they really convey to you that feeling when your horse comes in, or your team score a goal to let you hit the jackpot!

While many will argue that gambling requires a clear head and the ability to show very little emotion, this is not always the case. There will be occasions when you get that gut feeling that something is not right, or something is mis-priced.  You may know all the tricks, all of the short cuts, but that little sprinkling of passion may be the difference between hitting the jackpot and hitting the floor.

Unless the writer of that eBook you are looking at is well known, and has been there and done it, don’t even think twice about buying it.  You can pick up the rules and the basics from the internet for free, it is the gamblers who have been there and done it who can teach you the rest.  However, if you have been there and done it, why would you want to pass all of your tips on to the next punter? Money of course!

Information is invaluable in the gambling world, and if you can pass on your experiences and theories to the next person for a fee, then you have found an added bonus.  Something which may make up for that next losing bet!

Around 140,000 people a day are using the social networking site Facebook to hone their poker skills rather than search for long-lost friends.

The Texas Hold’em application has proved extremely popular since it was launched just a few months ago despite the lack of a cash reward on offer.

Upon signing up, players are given 200 Facebook chips and a rewarded a further 500 for every friend they invite to join the movement.

However, the growing numbers of independent games being organized by the site’s users are attracting thousands of players, many of who are completely new to the game.

Since the site was opened up to developers in May of this year, more than 3,000 applications have been added by software developers, with around 80 per cent of all users having at least one program on their profile, according to recent research by the Los Angeles Times.

Just last week the daughter of poker pro Ron Kluber used Facebook to  invite  people to watch his progress at the Main Event of this year’s World Series of Poker.

For all the fighting talk of the US gambling legends and poker brats, an 18-year old Norwegian girl more used to playing  on  a computer took the first prize at the World Series of Poker Europe in London at the weekend.

Annette Obrestad has already gained a formidable reputation playing the game online under the alias ‘Annette_15′ though this latest scalp, for which she walked away with £1 million as well as a coveted WSOP gold bracelet, firmly establishes her on the world poker circuit.

“I never expected to win. I’m speechless. I really don’t know what to say,” she exclaimed after her final hand of three sevens beat the two pair of 22-year old Londoner John Tabatabai in the final show-down.

Miss Obrestad has been playing poker with her father since the age of 15 and took up online playing less than two years ago.

At present, live games for cash are illegal in Norway and the last of Oslo’s poker clubs have recently been closed down by the government there.

The new trend towards betting exchanges rather than traditional betting offices has opened up a whole new world to many gamblers, one which they may not fully understand. Who sets the prices? Who starts off a book? Are the prices realistic?

The major point to remember about betting exchanges is the fact that the prices on the site are all natural, i.e. they are a result of gamblers placing their bets or attempting to layoff bets without any influence from outside parties.  When a new market is introduced it may take a little time to level off and offer realistic prices, if the volume and interest are there, but the most popular of markets will soon reflect the actual thoughts of all gamblers.

Can markets be influenced?

While any market can be influenced for a few moments with a large bet or a large lay, if the volume and interest are there it will not take long to level off again.  Short term spikes are also common in traditional bookmakers, so this is not a new occurrence in the gambling industry.

However, where there is little interest in a particular market, i.e. where the volume and size of bets is very small, it may be possible to influence prices with someone placing a large order on the exchange.  But if you are placing a large order, why would you choose an event which has little volume and possibly offers no exit route if you change your mind?

When you look at events such as the FA Cup Final, the Super Bowl or the Grand National, there is no way one gambler (or group of gamblers) could influence a price.  However, when someone is placing or laying a large bet then others in the market may follow what is known as the “hot money”, hoping that the original gambler had some inside knowledge.

Gaming tycoon Sheldon Adelson, the man behind the Sands gaming group, believes that the global gaming market is still in its infancy, stating his aim to build mini Vegas’s across the globe.

The US billionaire made the comments after receiving a lifetime achievement award for enterprise at the Forbes Annual CEO conference in Singapore.

“I’ve been quoted as saying Asia can handle ten Las Vegas’s, maybe I’m off a little bit — maybe it’s eight, maybe it’s 12,” he said, adding that there are great opportunities in Europe, the Middle East and South America.

To support his beliefs, Adelson cited the example of the booming Asian market, where Macau has recently overtaken Vegas itself as the world’s most lucrative gambling destination.

“Gaming has evolved from gambling dens into ‘Disneylands’ for adults,” he added.

Currently Las Vegas Sands is constructing a new casino resort in Singapore at a cost of around $4 billion with an opening penciled in for 2009.

Alongside that will be a venue operated by Genting Internationalafter he firm were granted a license. 

While there are many “tip” services around, they tend to concentrate on sports betting which is a massive market with worldwide appeal.  Many people swear by the tipsters, convinced that without them they would not be able to choose a winner themselves.  So are tipsters worth the money, or just an expensive extravagance?

While there are thousands of tipsters around the world, there are only a handful who can really show the long term results required to give yourself a good name in the market.  There are many many more who will tell you they know what they are doing, and have “inside” knowledge, but they rarely deliver the goods.  Customers come and go, and each time the tipster is bringing in a good income for a service which does not always justify this.  Many gamblers, especially first time gamblers, are often blinded by an advert they may see on a website or in the media.  How many actually check the true track record of these tipsters before paying up?
  
Unfortunately for the good tipsters, the ones who take their time and research betting events, their reputation can often be effected by the short termist in the industry - the one hit wonders.  Many of the better tipsters have actually taken to working for sporting websites, offering free advice and tips online, in exchange for a salary.  As ever on the internet, information is expensive and worth its weight in gold!

The betting authorities have taken the subject of tipping lines very seriously over the last few years, and a number of dubious ones have been caught out for misrepresentation, with a number of them closed down.  The problem is that as soon as they are closed down, they often open up under a different name, ready to fleece the gambling community yet again.

It is vital that you do some thorough research before even contemplating paying for tips, because they can turn out to be a very expensive extravagance.

On the back of the news that Atlantic City’s bad summer continued with revenues falling for a fifth consecutive month, Kansas City has had some good news to report.

While visitor numbers to the Missouri city were down in August, casino revenues were up and the area’s gaming venues raked in around $61.3 million.

This represents a 5.6 per cent improvement on the results from August last year and the month has been confirmed as being the city’s sixth most profitable ever.

Leading the way was Ameristar Kansas City Casino and Hotel which reported an 8.8 per cent rise in revenues to $21.8 million over the month, equivalent to a 35.5 per cent share of the city-wide total.

However, despite boasting the loosest penny and quarter slot machines in the state, the Isle of Capri casino suffered a 17.4 per cent fall in admissions in comparison to the previous year, contributing to a fall in revenues of $6.9 million.  

While there are many different forms of gambling, it is surprising the similarity in skills required for each one.  Many of these skills are transferable which is why many professional gamblers can adapt themselves to different areas and types of gambling - the building blocks are there it is just a matter of researching the subject matter.

So what are the characteristics which link so many gamblers together?

In summary, we hereby list some of the similarities below :-

· An ability to handle pressure - and in many cases actually thrive off it. 

· An ability to think on your feet and adapt yourself to various situations.

· A good grasp of maths and an ability to spot incorrect odds and prices.

· An interest in the actual event which you are gambling on.  This is more a requirement to know the rules, how it works and the basics of the sport / event.

· Money! While we all hear stories about people winning a big payout from their last pound, the majority of us will need a decent sized fund to be able to make the best out of gambling.

· An ability to walk away if things are not going right for them   They will not chase their loses, they will just call it a day.

· A gambler will always know the value of money, what is a good win, what should be spent and what should be held.  They may put some large bets on, but in their mind they only do this where there is little risk.

· A good gambler will learn from their losing streaks, and come back stronger and more focused.  Even the best gamblers in the world get in wrong - you just need to live with it!

Gambling is not easy otherwise we would all be doing it, but if you have traces of the above characteristics in your make-up, then you may be the type of player who could do well.  You never know!

Gaming revenues in Atlantic City continue to be hit by the smoking ban and competition from neighboring gaming locations, the latest figures show.

According to the New Jersey Casino Control Commission, revenue fell by 5.9 per cent over August, the fifth straight month of declines experienced by the state’s gambling capital.

Eight of the 11 casinos in Atlantic City suffered from a drop in revenue, the report revealed, though the biggest names of Caesars, Harrah’s and the Trump Taj Mahal Casino Resort all posted gains over the month.

Again, local analysts have pointed to the increased competition from the slots parlors in nearby Pennsylvania and New York State as well as the smoking ban recently introduced into Atlantic City’s gaming venues as major factors behind falling visitors and revenues.

Just recently Harrah’s announced that it is to spend $7 million opening smoking lounges for its customers across its four Atlantic City venues, with the group having stated it is happy to work with the authorities to ensure the safety of its workers.

While this is a slightly loaded question because of the fact that gambling can be fun, slots (also known as slot machines in some countries) are actually very big business.  Many people do not really appreciate that they are a true form of gambling, with major developments over the last 20 or 30 years. 

Places such as Las Vegas are renowned for them, although many of the UK’s seaside resorts will also hold a vast array of them.  Why are slots often seen as a “soft” form of gambling?

The main reason why slots are seen as a soft form of gambling is probably because for only a few pence of a dime, you can take you chance to drop the jackpot.  The fact that people are only spending small amounts of money at a time often deflects away from the size of the slots business, which is massive, especially in the United States.

There are many places in the US which use what are called progressive jackpots, which allow enormous payouts to build up over time, with reports of people dropping a few hundred thousand dollars, or that elusive one million dollar jackpot, fairly common throughout the year.

Perhaps the more reassuring fact about slots is the fact that they are programmed by law to pay back upwards of 90% of the money which is paid in.  While this is no good if you hit a bad streak and lose the lot, it does mean that many people can play for long periods, and be slightly down at the worst, or hopefully have more chances to hit the big one!

Slots are becoming more and more popular, and news of big jackpots has taken the industry to another level.  We all live in hope that we can drop that jackpot for a small stake, and while it will probably never happen, it is always nice to dream!

The poker legend Gus Hansen has been named as the new face of Gameloft, the mobile gaming publisher and developer.

Mr Hansen will work with the operator to develop and promote its Million Dollar Poker game for mobile phones, touted as the most accessible and advanced game of its kind.

According to Gameloft, the four-time World Poker Tour champion has helped lent his expertise to help them come up with a new style of poker game, with advanced artificial intelligence that is able to evolve by remembering its opponents moves and analysing their style of play.

Effectively, it means also that a poker enthusiast will never face the same virtual opponent twice while playing on the move.

“It was truly an exciting and eye-opening process for me working with Gameloft to develop this poker title,” said Mr Hansen.

“The amount of thought and detail put into creating this game was impressive. I was able to contribute knowledge of my poker skills, but Gameloft taught me a few things about developing a great poker game.”

The new game is scheduled to be launched at the end of next month.

While historically there was never any real discussion about corruption in sports, and the potential for illegal betting coups, things have changed over the last few years.  We have seen many of the most popular sports in the world dragged down with controversy and rumours, with sports such as Football, Horse Racing, Cricket, Baseball and a whole host of others under the microscope. 

The scandals keep coming thick and fast, but what can the authorities do to reduce the flow?

Unfortunately, in many instances the authorities are not able to even contemplate legal proceedings until something has actually happened, by which time it can often be too late.  The proving of guilt has proved to be so difficult in many many cases, with recent events in the UK horse racing world a prime example, where some of the most high profile names in the industry have been questioned at length. 

In an investigation lasting well over 12 months there are still no charges and we are no where near a potential court case - the investigations seem on the verge of collapse!

While the authorities are doing all that they really can, it is up to the sports men and woman to take back some of the power and actually look at the cheats in their game, and weed them out.  While self regulation is not the long term solution, it may well have a part to play in the short term.

We do not wish to give the impression that all areas of sport, and all sports event are corrupt, because this is just not the case.  There are areas of sport which do need cleaned up, and the time to stand up and be counted is fast approaching.  The cheats need to be separated from the gambling cartels and their bribes, and again be able to focus completely on the sport of the choice.  Whatever happened to a straight forward battle between sports men and woman? 

The hip-hop entrepreneur Jay-Z has announced that he will shortly be opening his own Las Vegas party venue, the 40/40 Club.

The star’s $20 million club, which is scheduled for a December opening, will boast a 24,000 square foot sports-themed restaurant and bar, kitted out with 85 plasma screen TVs, 24-karat gold and platinum flooring and five 40-foot long bars.

In keeping with the sports theme, the name relates to managing to hit 40 home runs and stealing 40 bases in a single season, an achievement only managed by four baseball players so far.

“Las Vegas is like no other place in the world,” Jay-Z said.

“It is every other place on steroids.”

Among Jay Z’s celebrity rivals on the Vegas club scene are the basketball star Shaquielle O’Neal, the tennis players Steffi Graf and Andre Agassi and singers Christina Aguilera and Celine Dion, adding weight to the city’s claim to being not just the gambling capital but also the clubbing heart of the world as well. 

Over the last couple of years there has been a major resurgence in the Bingo sector, after a period of relative depression.  The industry has received a new lease of life with a more up market appeal, cleaner venues and a target market which now takes in many young people, as well as the traditional older generation who have always played the game.  So why has Bingo become so popular?

While there is probably no one particular reason as to why Bingo has become popular of late, there are a number of considerations :-

• While Bingo is a type of gambling, it has never really been considered in the mainstream gambling area - hence the softer feel to the game.
• Even though many so called experts predicted that Bingo would suffer as the online gaming companies took over, it has actually benefited from online Bingo sites bringing the game to the masses.
• There has also been a major change in the stigma historically attached to the game, which was often associated with the old members of society, often unwelcoming to strangers and more of a social club for many.
• Over the last few years we have seen a major increase in the amount of prize money on offer - with today’s jackpots dwarfing those of only a decade ago.  This in itself has played a major part in the boost to attendance numbers.
• Upgraded venues. Bingo was often a game which was played in smoke filled rooms, some of which had not been decorated for years. Many Bingo companies decided to move a little more upmarket a few years ago, improving the buildings and services available. 
• The smoking ban which is now law in the UK and Scotland, also gave the Bingo halls of yester year a more healthy and cleaner feel.   

After a period in the wilderness, Bingo is most definitely back in the main stream and with some of the jackpots currently on offer, it seems likely to stay that way for some time!