Archive for the ‘Gambling’ Category

 

Gambling addict decides to sue British Columbia Lottery Corporation: Gambling

The British Columbia Lottery Corporation will be sued by a gambling addict. In British Columbia, this case is the first of its kind.
In B.C. Supreme Court, Joyce May Ross, 54, has filed a lawsuit that alleges that the lottery corporation practices negligence. The two casinos she frequents are owned by the British Columbia Lottery Corporation.
In a program aimed at helping individuals steer clear of gambling and online casino games, the woman took initiative and enrolled in the same. She was still able to frequently visit the casinos, despite being a part of the steer clear, self-exclusion program offered by the BCLC. In helping her work through her gambling addiction, she feels that the program was a failure and fell short.
The usage surveillance to monitor the activity of known compulsive gamblers is involved in this self-exclusion program. The casino security staff after identifying compulsive gamblers is supposed to quickly act to remove the individual from the facility. As a deterrent, an amount of $5,000 fines can be issued to compulsive gamblers caught in the act.
The woman gambled away over $330,000 during her three years of participation in the program. She tells CBC News, “I was totally out of control, and I knew I needed help”.
During her years of participation, Ross hopes to recover money lost in the self-exclusion program. She is also seeking damages that have caused because of British Columbia Lottery Corporation

Posted by admin under Gambling Tags: , , ,  •  Comments Off

Gambling in India

In India, gambling is severely restricted to certain areas and about half of all gambling activities are illegal. Much of India’s legislation regarding gambling comes from the Public Gaming Act of 1867.

As a nearly 150-year-old act, the Public Gaming Act of 1867 does not specifically mention anything about internet gambling. However, online wagering and lottery is considered illegal.

Gambling websites have proven to be a lucrative business in India, with most dealing with cricket. An internet search of cricket in India will yield numerous guides on cricket betting and directories of betting portals.

Recently, a great deal of press has been devoted to claims of illegal betting during the country’s multi-billion dollar Twenty20 cricket tournament. Federal investigators revealed widespread illegal betting and match-fixing by Indian bookmakers and some leading players.

There are many people who believe that the corrupt activity displayed during the cricket tournament could be prevented if India were to ease up on gambling legislation. “It should have been legalized long ago. Banning it has created this problem,” said Barun Mitra, head of Liberty Institute, a free-market think-tank in New Delhi

Gambling appears to be both popular and socially acceptable in India. A poll conducted by the Times of India newspaper suggested that 74 percent of respondents were in favor of gambling being made “a legitimate, regulated tax-paying business.”

Goa is the only state of India that allows gambling. It permits electronic land casinos as well as live off shore ones. The government in Goa is promoting offshore casinos by granting new licenses to more companies in an attempt to generate more tourist related revenue.

Posted by admin under Gambling Tags: , ,  •  Comments Off

A Rise in Profits and Revenues – Reports William Hill

William Hill PLC is a betting firm that is based in the UK. In the UK and Ireland, they operate over 2300 betting shops. Their first quarter earnings had risen and they are going in the right direction to get their objectives met this year, they stated on Thursday. Online operations and betting machines have boosted their revenue, so has the online sports book and casino. The operating profit prior to exceptional items had risen 3% year-on-year and there was a 1% increase in net revenue, for the first quarter that ended March 30, they stated.

With the early year performance, Chief Executive Officer, Ralph Topping was satisfied, although market conditions continue to be challenging, he believes they are on the right track to meet their objectives for the year. He also stated that they are making investments to their international online business and are watching costs. He said that the group is adding an additional 30 stores in 2010, and are looking at the market for future acquisitions.

Profit fell 13% at the retail division because of the over-the-counter win margins that were quite higher than usual. Taking betting rise 3%, the gaming machines helped the gross window.

For online operations, the group said operating profit had a rise of 51%, a 31% increase in new accounts and there was a rise of 15% for unique active players. The profit for gaming operating had a rise of 51% and the gross win margin for the Sportsbook rose from 6.6% to 8.1%. Most of the company’s revenue is from the retail stores. During this down economy, the rise in machine revenue has helped offset the decrease in the over-the-counter bets.

Posted by admin under Gambling Tags: , ,  •  Comments Off

Baccarat Helps The Rise In Vegas Revenues

Most casino gambling has been down in tough economic times. A form of gambling that is on the rise is Baccarat. 1.3 billion was wagered in Las Vegas in December on baccarat. Casinos won 155.7 million dollars on baccarat gambling. Revenue for 2009 was up 26.5 % going over 970 million dollars.

A high stakes game that is offered at 17 casinos near the strip is Baccarat. With the wealthy Chinese population, it’s a very popular game.

Is the draw taking away from other forms of gambling? Some business from other forms of gambling is probably taken by Baccarat but this is not the only reason the gambling business is down. A lot of new business is being brought by Baccarat to the gaming industry in Las Vegas.

A big interest to the game has been brought by new casinos like Aria. To take the hit of a lucky player cannot be afforded by little casinos with single hand wagers in the 100,000 dollar range. Million dollar payouts are possibilities small casinos cannot pay.

The gaming industry in Las Vegas would have fallen drastically without baccarat. Other then baccarat, over all gambling has declined to levels of 2003. Baccarat has single handedly helped improve gaming numbers taking in over half of the gaming revenue. Baccarat is helping the state’s depressed revenue out as well.

New casino play has been big days for the high stake game. A very successful opening at the baccarat tables has been in places like Aria. The Chinese New Year is also a big event at the tables.

Posted by admin under Gambling Tags: , ,  •  Comments Off