Gambling Blog

As more and more people gamble online it is become easier and easier to see a history of your gambling activities, how much you put in, how much you took out and how much you won or lost.  How is your book looking for 2007? Was it a good year? Did you turn it around after a bad start? Or have you been a winner all the way through?

As we knock on the door of 2007 many people are possibly a little afraid to see exactly what they have won or lost over the last 12 months, but how can you ever learn if you don’t know how your have performed? You might even give yourself a surprise and find that you are up over the 12 months!

As you get caught up in the heat of the moment it is very difficult to keep track of what has come in and what has gone out of your “gambling” account.  If like the rest of us you only remember your winners and forget your losers then things may not be too rosy in the garden.  However, one thing is for sure, if you do look back through your gambles for the years – and for some people this may be many – you will see periods, sports and particular sized bets where you did better than average. 

It is possible to use this information to pin point your strengths and ensure that you use them in 2008.  Maybe you lose your bottle when you have a big bet? Maybe you had better keep away from football? Or maybe horse racing is your game, but on the each way field?

It is vital that you use your historic records to highlight areas which you should concentrate on and areas which you should avoid.  Gambling is all about running your winners and binning the losers, but you need to find out which is which.

A “stellar line-up” has been announced for the third series of Poker After Dark 2008.

Daniel Negreanu, Phil Hellmuth, Jennifer Harman, Mike Matusow, Scotty Nguyen and Ken Light, who together have been dubbed the dream team, will delight fans with their poker performances next year.

Phil Hellmuth became the youngest WSOP winner at the age of 24 back in 1989 and in 1996 his poker peers voted him “best all-around tournament poker player in the world”.

Fellow player Daniel Negreanu also earned the coveted title back in 1997 and was the youngest player to win a WSOP bracelet at the age of 23.

The surprise hit poker show airs on NBC usually in the early hours of the morning, providing late-night poker enthusiasts with gripping viewing.

Six poker players are featured on the show, who are all fighting for a $120,000 prize.

Each poker pro must contribute $20k to the jackpot and then bring out their best game in order to win back their money and then some more.

Shana Hiatt will remain as the host of the show which is due to kick off again on December 31st.

Gaming regulators in the state of Nevada have given the green light to a proposed buyout of Harrah’s by private equity investors.

This latest nod of approval means that the deal, which would represent the largest buyout in gambling history, now only needs to be cleared by the National Indian Gaming Commission, which is expected to make its ruling by the end of the month.

Apollo Management and TCG Capital have offered $17.7 billion for Harrah’s Entertainment, which is known around the globe as the organisor of the prestigious World Series of Poker.

According to a new report in the Las Vegas Review Journal, under the proposed deal, while Harrah’s stock will no longer be allowed to be traded publicly, the gaming operator will still be required to file quarterly earning reports to the Securities and Exchange Committee.

Also, though the buyout is expected to be completed within the first few weeks of 2008, Harrah’s will remain under scrutiny following reports of improper casino renovations at three of its Las Vegas venues.

Each day in the US there are at least 4 (possibly up to 8 or more) different race meetings, the majority of which are screened live on satellite TV, but many are now asking whether the US market is becoming saturated and a little difficult to forecast.  Is the market being over cooked? Will this affect turnover in the US?

There is no doubt that the number of US race track meetings is massive compared to anywhere in the world.  However, you need to appreciate that the US is a massive place compared to most other countries in the world, which may explain the mass of racing available on TV.  This does not necessarily mean that the market cannot become over saturated and perhaps start to turn off gamblers, so what keeps them coming back?

Unfortunately for the professional (or amateur) gambler, the US market is very very difficult to forecast with many odds on favourites coming under pressure on what can be very demanding and tight dirt or grass tracks.  Many people tend to go with the jockeys rather than the horses, with the main players in the US often getting the choice of a number of horses in each race they are involved.  In order to appreciate this you need to consider the use of certain factors such as blinkers, and other aids, which can drastically improve a horse’s chances.

The US is one market where you need to monitor the odds just before the off to see where the professional money is going.  Sometimes it may be too late to take advantage if you are not quick enough, but it is the often massive variation in the performance of the horses which keeps the gamblers coming back, and should do for some time to come.  There is probably more racing that a gambler would be comfortable with, but the market is bigger and if you do your homework and watch the market you can actually pull out some interesting odds.

When you compare the US and UK slot machine markets you will see a massive discrepancy in the number of machines, the turnover and the jackpots.  The UK is years behind the US and at the moment it looks as if that divide will be around for some time yet.  So why is the UK so slow in catching up with the US?

While there have been rumours of US style casinos in the UK for many years, a recent change of mind by the UK government seems to have put these ideas back many years.  Even though the slot machine industry is present in the UK, the market has been very stagnant for years, with the exception of allowing certain gambling establishments to increase the number of machines they were allowed to place on their premises.  So what is the problem?

The UK market seems to be one which suffers more than most from the pressure of anti-gambling groups which seem to be able to influence the government of the day at the highest level.  Whether it is the thought of possibly losing votes by increasing the opportunities to gamble, or a genuine fear that the UK gambler is very different from their US counter-part is unknown but change in the market place is running at a snails pace.

Even the recent relaxation of advertising rules in the gambling industry has done very little for the slot machine sector, which is still tainted by the seaside penny arcade stigma of years gone by.  However, in reality when you look at places such as the US the industry is enormous and jackpots can run into the millions of dollars.  Will the UK market ever be able to compete with the US? Will it be given a chance to breath?

Even though online gambling has assisted the UK gambling market, the slot machine industry is still very much behind the times with little chance of this changing in the short term.

The world’s three biggest internet companies have reached a multi-million dollar agreement with the US government over charges that they accepted advertisements promoting gambling, despite it being against the law.

According to the US attorney for eastern Missouri, Catherine Hanaway, Microsoft, Google and Yahoo will pay the government $31.5 million and will cease carrying advertising for sports betting and other types of gaming.

The ruling comes on the back of an 18-month investigation conducted by the attorney’s office in collaboration with the IRS and the FBI, into the internet companies’ behaviour over the past few years.

Microsoft will forfeit $4.5 million and also provide $7.5 million to a missing children’s charity, as well as a further $9 million for public service advertisements to be rolled out over the next three years.

Likewise, Yahoo’s $7.5 million settlement will see the internet giant provide $4.5 million for public service ads.

“These sums add to the over 40 million dollars in forfeitures and back taxes this office has already recovered in recent years from operators of these remote-control illegal gambling enterprises,” said US Attorney Catherine Hanaway.

While commonly known as the FA Cup, the Football Challenge Cup has a history which goes back to the 1871-72 season and while the number of teams involved has dramatically increased since then, the main attraction of the competition has not changed.  So why is it so popular around the world and why does it regularly attract audiences in excess of a billion people?

Even though the league clubs do not join the competition until the end of the year, some of the non-league teams who make it into the “competition proper” may have been playing qualifying games for months before.  There are many amateur clubs in the UK eligible to play in the FA Cup although some do not take up the opportunity because of the extra costs of travelling, player’s expenses, etc.  However for some non-league clubs playing in the FA Cup it can lead to increased income in the later rounds, TV money, increased exposure and it has even started the career of many footballers.

The main reason why the FA Cup is still so popular is the fact that it is the only Football Cup competition in the world which mixes non-league teams with league teams, offering the chance of some major upsets along the way.  Whether you are looking at Wimbledon winning the Cup from no where, Bournemouth knocking out the famous Manchester United or Sunderland lifting the trophy after being major under dogs, the chance of an upset is always present.

While some would say that the “Cup” has lost some of its attraction in recent years as more money has poured into the higher echelons of the league, viewing figures do not suggest this.  The FA Cup Final is a massive day on the sporting calendar and many countries around the world will tune in to watch the game live.  The rewards of being the holder of the “Cup” for just one year cannot be under estimated – it can literally mean millions of pounds in extra prize money, gate receipts and merchandise sales.

Soon after a Slough resident won £100,000 on the back of a 5p stake at williamhillbingo.com, a 55-year old man has become an instant millionaire after striking it lucky on the bookmaker’s online casino.

The Oxfordshire gamer, who wished to remain anonymous, scooped the jackpot after laying down just £3 to play the online slot machine game ‘Millionaires Club’ on williamhillcasino.com.

While it was instantly apparent that he was going to get a good return on his money as the ‘bonus game’ feature came up, the electrician was shocked to see the reels fall into place and to learn he had won a cool £1.1 million.

Jennie Prest, a spokeswoman for William Hill, commented: “It certainly tis the season to be jolly for our ‘Mr X’, winning such a life-changing amount just before Christmas.

“It’s our second huge payout in the space of two weeks and Mr X goes down in history being our first Millionaire from the online casino. William Hill is full of Christmas cheer and we are delighted for both our winners.”

The lucky player said that the win has changed his family’s lives and revealed that he is set to splash out on an extra-special Christmas.

Whether you are looking at football, rugby, cricket or crown green bowls, why does ever gambler think that they are right? That they can beat the market and have spotted something which nobody else has picked up on?

The gambling industry is one of the few industries in the world where you are the boss, where you can make your own mind up about some odds being incorrect, and ultimately you can take on a vast array of different risk levels to try and increase your winnings.  Prior to the result of the event nobody can be sure what the result will be, they may have a good idea, but for that time between placing your bet and the event finishing you can often drift into that dream zone where your big bet comes home. 

While many would argue that the market is not often wrong, there have been times when people have done their homework and spotted a “mis-pricing” on the exchanges or in the bookies.  That is not to say that the gamble will always come in, but you can still give yourself a chance if you do manage to spot something before the general market.  Using the betting exchanges today it is possible to take you bet at the higher odds and hedge when the market catches on and the odds start to fall – giving yourself the chance of crystallising an arbitrage situation.

Alternatively you may see a participant in a particular event being heavily backed when you think the market is wrong.  If you are prepared to take the risk there is big money to be made laying favourites in some races where maybe the form book does not reflect the odds or the weather changes very suddenly. 

Ultimately each and every gambler will think that they are right until the event is over, and they can drift into that dream zone when they can imagine bringing home the big outsider winner, or laying the odds on favourite before it was beaten.  While reality can bring your dreams crashing down, you can convince yourself that you are right before the truth hits home!

The Las-Vegas based gaming giant MGM Mirage is to follow the lead of its rivals and expand into the booming Asian gambling market, it has been revealed.

The company is set to open its first casino outside of the US this week as MGM Grand Macau opens its doors to the thousands of gamers who are expected to flock there from across the region.

In addition to substantial gaming floors boasting around 385 table games, 890 slot machines and 16 private gambling salons, the waterfront venue will also include hundreds of luxury hotel rooms as well as a number of bars and restaurants.

It is the Grand Praca atrium which will set the MGM Grand Macau out from its rivals, with the 25-metre high glass ceiling based on the design of the central train station in Lisbon and built as the centre-point of the complex.

Earlier this week, MGM’s chairman and chief executive Terrence Lanni confirmed that he has sold 50,000 shares of common stock in the company

While we have all seen the headlines about Fabio Capello taking on the poisoned chalice of the England manager’s position, what does it mean?  While there are many hoping that the Italian will be able to bring a little more steel to the England set-up, how have we got to this stage? Why does England have arguably the best domestic league in the world yet the national team has won nothing for years?

As we mentioned in the headline, the England football team have been the bookies best friend since 1966, with not even the slightest sniff of a World Cup or a European Championship, and billions of pounds of gamblers money down the drain (well into the bookmakers back pocket!).  It seems that while we can attract the best players in the world, we are still struggling to bring through domestic talent – much of which is being lost.  So what needs to be done?

In order for you to cash in that England World Cup winning slip for 2010 we need to build a whole new set-up where younger players are given a chance to shine, where money is not everything and where the players play with pride for their country – with nothing else on their minds.  Capello seems as though he could actually be the man to take us to that level, and with his track record it certainly looks as though he has the experience to do it.  So what next?

Don’t place your bets yet as this could well be a long drawn out affair, as the need for change from the very top to the very bottom of the game is evident.  While the UK sporting public are keeping their fingers crossed that Capello can do it, the bookies may just be about to wave good bye to their old friend – the unsuccessful England Football team, well we can but dream!

The World Trade Organization (WTO) is believed to be on the verge of making its ruling on how much compensation Antigua and Barbuda will receive from the US as the debate over gambling trade draws to a close.

The small Caribbean island-nation recently won its trade dispute with the US, with the WTO ruling that the latter was discriminating against foreign gaming companies by allowing domestic companies to offer online betting but not foreign operators.

However, while Antigua and Barbuda called for $3.4 billion in compensation and also asked that the WTO suspend the intellectual property protections for software, music and movies should no agreement be reached, the final ruling on the matter was subsequently delayed.

Now, Reuters has reported that the US is about to offer the country $500,000 in compensation, though the WTO has yet to comment on the matter.

Australia, Japan, Costa Rica and the European Union members are among the nations also seeking compensation for the loss of income caused by the US decision to amend its General Agreement on Trade in Services (GATS) rather than open its market up to foreign online better companies.

As we look ahead to next years Beijing Olympics, bookmakers are already rubbing their hands in expectation of bumper pay days along the way.  But have you ever considered betting on the Olympics?

If you are sensible and do your homework the Olympics could well turn out to be one of the best betting coups of next year.  As bookmakers all around the world will be offering odds for each event, the winning teams and other “side bets” there will be a great chance for some arbitration across continents.  The internet is you tool, now let us get your mind in gear!

If a country has a “top” athlete in a race or in a tournament then there is every chance that local support will result in their particular odds being less than maybe they should be – we saw this with the Ricky Hatton fight where the sheer volume of UK bets moved the market.  This is the same for the Olympics and any other sport which crosses nations.  All you need to do is open up accounts in different areas of the world and hedge off each bet to make use of the difference in odds – sound too simple?

Historically you are liable to get more arbitrage situations the wider appeal that the event has, whether this be the World Cup, the Ryder Cup or a Swimming Championships – events which can, and often do, transcend continents.  If you do decide to have looked at arbitrage situations next year you should start to test your theory and plans before then, on other events with world wide appeal.

One word of warning, unless you are very lucky you will not make a fortune on single sports betting arbitrages,  but if you are focused, determined and know what you are doing it is possible to bring in a number of small wins which can soon mount up. 

The organisers of the World Series of Poker (WSOP) are set to award a new trophy in memory of poker legend David “Chip” Reese.

In a statement released by the WSOP’s commissioner Jeffrey Pollack, it was revealed that future winners of the $50,000 buy-in HORSE World Championship will receive the award.

“A true gentleman and the youngest person admitted to the Poker Hall of Fame, Chip Reese was recognized by his peers as the most successful player in the biggest mixed cash games of all time,”

Pollack said. “But he was also a great tournament player with three WSOP bracelets, including one for his historic victory in the inaugural $50,000 buy-in HORSE tournament in 2006.”

In addition to the trophy, the winner of the HORSE event will also receive the usual WSOP gold bracelet. 

News of the new award comes as the WSOP Circuit kicks off in Atlantic City this week, with a three-day No Limit Hold’em championship to conclude the heat at the end of December.