Gambling and the Economy; Onew Drop Winner – “Poker is a very dark game” ; Accountability

 

 

 

gambling and economy

 

How Regulated Gambling Can Boost the Economy

www.gambling911.com
In recent years, there has been a lot of focus on the potential impacts of a legalised worldwide gambling market. As more and more countries and U.S. states start to regulate the market to their residents, there have been calls from both critics and supporters of its possible effects. One major argument for supporters is the major boost real-money gaming can provide to the economy. Since back in 1850, when gambling was legalised in Macau, governments have been reaping the benefits of a licensed gaming industry. In fact, Macau is a prime example of the positive potential of gambling. The region is one of the fastest growing gambling markets in the world, with gross revenue from casino games almost tripling in the last five years. By 2015, the casino gaming market revenue in Macau is expected to reach over $60 billion, marking an almost 300% increase since 2010. Similarly, areas of the US such as Las Vegas and Atlantic City also generate huge revenues from the tourism that their gambling sectors attract. In 2013, Las Vegas generated more than $6 billion from the gambling trade, with Atlantic City generating over $3 billion.

It’s not just revenue that can contribute to the economy either. Gambling resorts provide a lot of jobs. A new $4 billion resort to begin development in Las Vegas later this year for example is expected to open up 11,000 jobs alone. With new opportunities of employment and the generation of much-needed revenue for the economy, through both tourism, costs to the government and general spending, it’s hardly surprising that more territories are looking to implement a gambling market. As well as physical establishments, online gambling is a huge source of revenue as well. The global digital gambling market is estimated to be worth $39.5 billion this year, according to research by Statista. By 2015 that figure is predicted to grow to $41.4 billion.

Nevada, New Jersey and Delaware were the first U.S. states to legalise online gambling and many more look set to follow. Different countries are also looking to capitalise on online gambling spend. Portugal are set to regulate online poker as early as 10th July in the hope that the regulation of the market will form part of a wider project to boost tax revenues.

Another country that could boost its economy via online gambling is Australia. According to Casino Reef, “if a bill was passed to legalise online gambling in Australia but limiting the gambling to domains registered within Australia” then the Australian government could “keep a good eye on the gambling figure” while also receiving a “healthy slice of pie by taxing the total revenue”. Their research shows that the country could receive $201 billion in total if they introduced and regulated the online industry.

A number of factors have to be considered when it comes to legalising gambling. It is not a move that should be taken lightly considering the possible negative effects. However, it is clear that a proper regulated industry can provide the boost to the economy that so many governments are seeking. By 2015 that figure is predicted to grow to $41.4 billion.

Nevada, New Jersey and Delaware were the first U.S. states to legalise online gambling and many more look set to follow. Different countries are also looking to capitalise on online gambling spend. Portugal are set to regulate online poker as early as 10th July in the hope that the regulation of the market will form part of a wider project to boost tax revenues.

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poker players and loose women
One Drop Winner Daniel Colman Didn’t Talk To Media Because He Sees Poker ‘As A Very Dark Game’

Poker Pro Adds ‘Individual Achievements Should Rarely Be Celebrated’

by Brian Pempus
www.cardplayer.com
Love him or hate him, think he’s a hypocrite and wrong or view him as someone finally speaking candidly about the underbelly of poker, One Drop winner Daniel Colman has stuck by his beliefs and refused to talk to pretty much all media after capturing the bracelet and $15.3 million on Tuesday at the Rio in Las Vegas.

There’s a major discrepancy out there with regards to whether Colman actually gave post-win comments to the media. A controversial column in the Las Vegas Sun that whined Colman was “channeling a petulant child” by declining interviews reported that he “turned down every request.” However, an article in the Las Vegas Review-Journal said Colman talked to ESPN only, telling the sports network: “I think it’s really great, this event, what we were able to raise for charity. It went to a pretty worthwhile cause, giving water to parts of the world that just don’t have that.”

The 23-year-old Massachusetts native did issue a statement after a firestorm of sorts erupted thanks to him shunning interviews, though many of his peers defended his decision, including runner-up Daniel Negreanu. Colman also barely agreed to take a photo next to his mountain of prize money. Below is Colman’s statement explaining his position.

I really don’t owe anyone an explanation but I’ll give one.

First off, I don’t owe poker a single thing. I’ve been fortunate enough to benefit financially from this game, but I have played it long enough to see the ugly side of this world. It is not a game where the pros are always happy and living a fulfilling life. To have a job where you are at the mercy of variance can be insanely stressful and can lead to a lot of unhealthy habits. I would never in a million years recommend for someone to try and make it as a poker pro.

It is also not a game where the amateurs are always happy to be losing their money for the sake of entertainment. The losers lose way more money at this game than winners are winning. A lot of this is money they can’t afford to lose. This is fine of course because if someone is dumb enough to gamble with money they cant afford to lose, that’s their problem. I’m not really buying that though. In a perfect world, markets are based on informed consumers making rational transactions. In reality, sadly, that’s not the case. Markets are based on advertising trying to play on peoples impulses and targeting their weaknesses in order for them to make irrational decisions. I get it if someone wants to go and play poker on their own free will, but I don’t agree with gambling being advertised just like I don’t agree with cigarettes and alcohol being advertised.

It bothers me that people care so much about poker’s well-being. As poker is a game that has such a net negative effect on the people playing it. Both financially and emotionally.

As for promoting myself, I feel that individual achievements should rarely be celebrated. I am not going to take part in it for others and I wouldn’t want it for myself. If you wonder why our society is so infatuated by individuals and their success, and being a baller, it is not that way for no reason. It is there because it serves a clear purpose. If you get people to look up to someone and adhere to the “gain wealth, forget all but self” motto, then you can get them to ignore the social contract which is very good for power systems. Also it serves as a means of distraction to get people to not pay attention to the things that do matter.

These are just my personal views. And yes, I realize I am conflicted. I capitalize off this game that targets peoples weaknesses. I do enjoy it, I love the strategy part of it, but I do see it as a very dark game.

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accountability
Accountability
by Todd Fuhrman
www.toddstake.com
We’ve all been there before: on the losing end of a bet looking to the heavens for an explanation of why (insert player here) did what he did or how an official could possibly make “that” call when we had money on the game. It’s human nature: blame others for decisions you make that don’t work out exactly as you’d like. Rather than digging into the boxscore and reading the recap to see where our handicap of a particular game went wrong, our god complex forces us to rationalize the outcome.

A god complex is an unshakable belief characterized by consistently inflated feelings of personal ability, privilege, or infallibility. A person with a god complex may refuse to admit the possibility of their error or failure, even in the face of complex or intractable problems or difficult or impossible tasks, or may regard their personal opinions as unquestionably correct.[1][2] The individual may disregard the rules of society and require special consideration or privileges

Allowing this thought process to ruminate is beyond dangerous. Projecting blame onto others prevents us from trying to correct our own mistakes. Claiming circumstances beyond our control contributed to an undesirable outcome is an easier defense mechanism than becoming accountable. Hey guys and girls: if you can’t handle random sequences of events that you don’t impact directly I suggest spending those recreational dollars on golf, leave sports betting for the professionals.

Learning to become accountable, in both wins and losses, is a sign of maturity in a bettor. However, mastering this thought process is one few will ever learn. Accountability in wagering forces bettors of all ability levels to learn from their mistakes if the end game is becoming better at your craft. Blaming officials, players, or handicappers on twitter for a losing bet is juvenile. It’s really simple: no one forces any of us to bet. No gambler should ever lose site of that simple truth. Am I saying accepting loses is the only way to approach handicapping? Absolutely not… losing becomes a way of life that’s contagious if you let it be. Resilience in this craft is of paramount importance, you’ll need that quality to maintain confidence during the lean periods.

The hardest lesson to understand is that no matter how good your power numbers are or how sharp the information you’ll use to bet, a success rate of 100% is unattainable. Think about the life of a professional ballplayer; he fails 7 out of 10 times and needs to put the disappointment behind him if he’s going to deliver in the clutch the next time he steps to the plate. Betting sports is no different; aside from needing to hit 52.4% rather than 30%. Being successful as a gambler is about developing a results oriented thought process that allows you to meet goals. Until you’re accountable to yourself, profit derived from sports gambling remains unattainable.

 

 

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