- Gambling is a deeply psychological phenomenon that clouds our minds and causes us not to think rationally, in this way it's a horror from within our own brains that changes the way that we behave. Story by Alan Shapiro. Written by Mitchell Wells Founder and Editor in Chief of Horror Society.
- Cynthia Jay was a cocktail waitress at the Monte Carlo casino in Las Vegas. On January 26, 2000, while celebrating her future mother-in-law's birthday, Jay took a shot at the Megabucks slot machine, a state-wide lottery jackpot that had rolled over for quite a while.
- I got another gambling story. This one I turned my last $100 into a little under $4000 in about 4 hours. Beginning bankroll was $4500 on a 6 day trip.
- Sports gambling may be legal across the country, but that doesn't mean we won't see gambling scandals every now and then. Take a quick look through the history books and you'll find that if.
James describes how his gambling problem started, how it affected his life, and how he sought help to regain control of his life. Free and confidential Gambl.
Sports Gambling Horror Stories
Nevada, the sports betting capital of the United States, enacted a law in June, 2015, that allows investors to pool funds in the same way mutual funds pool investor funds to 'invest' in stock markets. Essentially, Entity Betting, allows you to invest in a sports betting mutual fund.
In so many ways, sports betting is analogous with trading stocks on financial markets. Many smart investors will tell you that trading is more akin to speculating than 'investing'. Sports betting can be the same, with once a year betting fans speculating on their team, for example to win the Super Bowl, or professional sports bettors placing bets (trading/investing) on positive expectation value outcomes, which they believe will result in a profit over time. Betting Entities have emerged for this purpose and will look to make a profit over time by placing positive expectation value wagers on sports.
Here come the issues.
In so many ways, sports betting is analogous with trading stocks on financial markets. Many smart investors will tell you that trading is more akin to speculating than 'investing'. Sports betting can be the same, with once a year betting fans speculating on their team, for example to win the Super Bowl, or professional sports bettors placing bets (trading/investing) on positive expectation value outcomes, which they believe will result in a profit over time. Betting Entities have emerged for this purpose and will look to make a profit over time by placing positive expectation value wagers on sports.
Here come the issues.
Bettors and now Betting Entities will look to surpass the magical 52.4% (break-even point) to make a profit betting on sports. This is given the usual hold (vig or take) inserted into the odds/price by the Bookmaker. Bookmakers have shown no kindness to winning bettors so why now will they suddenly embrace Entities who are created to be profit making entities?
There is no doubt it is tremendously difficult to win at sports betting but it is not impossible. Betting Entities with a clear strategy (usually incorporated into complex algorithms), extreme discipline and diligent money management can win over time betting on sports, even with the vig. I would need to be convinced, given the current dynamic in bookmaking, not just in Nevada, but worldwide, how unrestricted placements of bets and amounts would be possible. The analogy is that if you are Warren Buffet and you are producing double digit returns quarter upon quarter investing, you are limited, restricted or simply banned. This does not happen in the financial markets but it is commonplace in the sports betting world and it is not necessarily illegal or immoral but arguably sound business practice by the Bookmakers.
Sports Gambling Horror Stories Games
It is unlikely that enough Betting Entities will enter the market soon enough to enable Bookmakers to offset many of the larger bets from an Entity (or a syndicate) to have close to balanced action (usually the intention of Bookmakers). This will result in disappointed Entities unable to freely bet as their strategy would dictate. Crown casino melbourne signature club resort. Not only that, it is likely that many Entities will target high frequency sports such as Baseball or Basketball (College and Pro) so that they have many more games, matches and markets to bet into. The limits can be lower on such events (as compared to NFL for example – but the NFL regular season is 16 games where basketball and baseball are 82 and 162) as well as the percentage of professional money being higher in these events.
Lanfranco 'Frankie' Dettori is a horse racing jockey who was born in Milan, Italy in 1970. While holding several achievements as a jockey, his most notable was riding all seven winners on British Champions' Day at Ascot in 1996. This is where the title of this Playtech slot game comes from. The Frankie Dettori's Magic Seven Jackpot is an improved version of the popular Playtech game. Its main difference is that the jackpot function is added to the gameplay. The slot is dedicated to the famous jockey named Frankie Dettori. Each round can bring a gambler the winnings with multipliers of.
If a multi-million dollar Entity has a standard single unit bet of $20,000 (as low as 1% of the fund/bankroll), it is not always possible to place 1 unit bets on many of the sports or events that would be within the strategy, especially if the Entity has been flagged as a winning player. The markets on these events will just become overly saturated with professional money from professional bettors and Entities, which will cause issues for the Bookmakers unless they can take close to even handle on both sides of a bet. This is not a concern for trading on the financial markets. If the Google share price is a certain price, which is deemed a good investment, the trader can trade freely without such restrictions.
Putting aside the operational aspect of betting, there are regulatory and legal aspects that need to be considered. To what extent will there actually be SEC type oversight of Betting Entities so that there is accountability and protections in place? How enforceable will standard Know Your Customer/Investor protocols be? Will the onus be with the Entity or State? How will anti-money laundering laws co-exist and function within the Entity Betting sphere, State and Nevada Gaming Control Board oversight?
Often times we have seen over regulation stifle growth and present real obstacles to entry or operations within not only the betting world but in commerce generally. It can be a fine line and a delicate balance required. I can almost promise that there will be sad tales of Betting Entities posting large losses, just as is possible with Mutual Funds, and betting regulations will be called into questions. Hopefully there is enough insight, foresight and cooperation between law-makers, bookmakers and bettors (or Betting Entities) to reach a suitable equilibrium with regulation. Yes! Bettors must be included in this discussion.
There is certainly a stigma when it comes to sports betting and gambling that is somewhat expunged when it comes to trading on financial markets. There are certainly horror stories when it comes to fraud or other criminal acts that have resulted from betting debts or uncontrolled wagering. Not necessarily in relation to the illegality of sports betting in most of the US States and the result of underground or black market conduct but in relation to schemes undertaken that were underhanded and resulted in heavy losses. There are equally, if not more damning stories from the financial markets. Bernie Madoff alone is enough to make you cringe.
Gambling Addict Stories
Entity Betting is only entering its infancy but will be a fascinating path given so much of the uncertainty of sports betting in the US alone. Will Betting Entities be able to outperform the standard 7% stock market returns often promised to investors. If they do, will Bookmakers restrict or refuse bets? Then, will regulations and the legal framework pose further obstacles? Time will tell.
