Gambling Blog

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.

As we approach the festive period we are entering a whole new ball game for the betting industry with the introduction of some crazy bets as people seem to over indulge on the festive spirit!

We have a number of seasonal bets coming into play which include the chances of a White Christmas but not just a normal book on this one with many books actually splitting the chances of a White Christmas into the major cities of the UK.  So it is now possible to bet whether it will be a White Christmas in London (very unlikely) or Newcastle, Manchester or Glasgow, etc.  When you consider that it is hard enough guessing whether we will have a White Christmas, what chance have you got forecasting town by town!

Then there are the mad bets on the Christmas number one, two and three songs – with many bookmakers actually taking the X Factor Christmas release out of the betting due to its guaranteed popularity.  We have seen such songs as Mr Blobby, Bob the Builder, Michael Andrews (who I hear you say!) and many more mad combinations hit the top spot.  There are some who are actually concerned that certain elements of the number one may be fixed, but how anyone can fix such a thing remains to be seen, with today’s cutting edge ethnology which can spot buying patterns across the country. 

While there are some great odds to be had on some of the outside bets for Christmas, be careful and treat them as fun and nothing more.  It is at this time more than any other in the year that sense goes out of the window, and mad situations can arise!

Quick tip – watch the betting patterns if you are looking for the Christmas number one, or the chances of a White Christmas as there is always someone else a little better informed than you – but just piggy back them for the ride!

Profits at Las Vegas’ casinos soared to record highs in October, the latest figures published by the Nevada State Gaming Control Board show.

Coming soon after Sin City teemed with thousands of boxing fans for the fight between Floyd Mayweather and Ricky Hatton, as well as the announcement that a new museum dedicated to its gangster past is soon to be opened, the board revealed that profits for the month hit $1.16 billion.

Of this, $638 million came from the state’s casinos, representing a 20 per cent increase on the figures for the same month in 2006.

In addition, money won across Nevada was up by 9.6 per cent, meaning players benefited as well as the playing venues.

“These numbers are well above expectations for the month,” commented Frank Streshley, an analyst for the Gaming Control Board.

“Normally we see a lull, but strong baccarat play really helped.”

Earlier this week the hit Las Vegas show Mamma Mia! broke a new record as it welcomed its two millionth guest at the Mandalay Bay Resort and Casino.

Whenever we hear rumours of betting syndicates, or potential fixes and the like, there always seems to be a suggestion of Far East influences, but why is this? Why is that area of the world so powerful in the gambling industry?

While the UK, European and US gambling markets are highly developed, taking in a vast array of sports, the depth of the markets is nothing compared to those in the Far East.  The Far East has always been a hot bed of gambling interest for centuries, with a vast array of illegal gambling businesses running side by side of the legitimate operations.  The rules and options available in the Far East are a lot more varied, where for example they will pay out on football match results where the game is not finished – the rules in the UK and other western countries do not allow this.

Many will remember a football match involving Wimbledon FC where the stadium lights were “taken out” just after half time in the knowledge that Far Eastern bookmakers would payout on the result of the uncompleted match.  The culprits were pin pointed but never found, but there were suggestions of strong Far East links.

However, in some ways the Far East gamblers are having their reputations tainted by a small few powerful groups who are alleged to be looking to influence a whole range of sports.  The truth is that the vast number of Far East gamblers all play by the book, and while they can be fanatical the vast majority play fair.  This is an area where gambling is very much in the blood, part of society and has been around for hundreds of years.

How sad that the alleged actions of such a small group should cast doubts on the industry as a whole…….

Las Vegas is set to commemorate the darker aspects of its history with the construction of a new museum on the mob and their role in the boom of the world’s gambling capital.

In contrast to the family-friendly resorts of today, the Vegas of the 1960s was better known for gangsters and vice than it was for top-class entertainment and now the city’s officials are keen to cash in on its reputation.

Sin City’s mayor, Oscar Goodman, who had a role in Martin Scorcese’s Casino, said: “Let’s be brutally honest, warts and all. This is more than legend. It’s fact.”

While the name of the forthcoming museum has yet to be chosen, its curators have confirmed that the venue will be “historically accurate” and tell the true history of organised crime in the Nevadan city.

“The plan is to give people a kind of gritty taste of what it would have been like to be not only a person involved or affiliated with organised crime, but also what it would have been like to be in law enforcement,” Ellen Knowlton told the Associated Press.

The new museum will be housed in the former post office and federal government building not far from the glamour of the Strip.

While the collapse of the recent “fixing” court case involving champion jockey Keiren Fallon was much welcomed by the sport and punters alike, there are still many unanswered questions.  There are also many in the industry who are concerned that the sport of horse racing may well be tainted forever, even though there have been very few convictions for “fixing”.

Horse racing is an industry which has many elements and many faces, which all come together to present what is perhaps one of the most fascinating sports in the world. One of the few sports where man, woman and horse come together to beat the odds, there are so many things which can go right, but even more that can go wrong!

We have all seen odds on favourites beaten by a mile, but let us face the facts, these are some of the purest bred animals in the world and unless they are on top form they will struggle.  These are not machines, these are not robots, these are prime athletes of the racing world.  The Fallon case seemed to centre on one particular race where he was about 20 lengths ahead and was ultimately beaten on the line into second place.  The prosecution tried to suggest that he had fixed the race and needed to lose to help his “racing ring”, but try as hard as they could they were unable to prove this.

While the case ultimately collapsed on the evidence of an Australian expert who was not aware of UK racing rules, there are many who suggested that the case should never have gone to court.  Has this one case done damage to the sport of kings? No, but the cumulative effect of whispers, court cases and rumours is having an impact upon the reputation of the industry. 

While the industry is looking to “clean” itself up for the future, there are still many who are highly suspicious of the horse racing world.