Monthly Archives: June 2020

GameStop (NYSE:GME) shareholders: brace for impact. The retailer has pre-announced fiscal 1Q20 results, and the numbers do not look all that good.

Global sales and comps are estimated to come in about one-third below year-ago levels. As a result, adjusted EBITDA will turn from a positive last year to a negative this time. Net loss of roughly $167 million suggests a sizable, negative EPS of $2.50 - although about 75 cents of it should be associated with a one-time charge for inventory obsolescence.

Credit: Bisnow

Although the numbers above look awful on the surface, identifying the short-term impact of the COVID-19 crisis on GameStop's first-quarter results is important. In the retail space, Dollar General (NYSE:DG) comes to mind: maybe 22% in positive comps will not be the new normal going forward, and neither will TJX Companies' (NYSE:TJX) evaporating revenues.

During the quarter, several GameStop stores were closed, even though the company declared itself an "essential business" in order to remain open for a few extra days. But the following quote provides a clue as to how bad the period has been for GameStop, even after accounting for COVID-19 headwinds:

Excluding stores that were closed during the first quarter as a result of the COVID-19 pandemic, comparable store sales are expected to decline in the range of approximately 16% to 17%.

The sharp decline in comps ex-closed stores during a period when at-home entertainment should have thrived is worrisome. At the same time, I think the numbers also speak to the well-known challenges faced by the company prior to the pandemic. GameStop continues to suffer from the final few months of the console cycle and a secular shift towards streaming and mobile gaming.

Source: DM Martins Research, using data from company report

It was also interesting to note that cash flow from operations, while still negative, is expected to improve substantially this year. This is due to the company's "focus on optimizing the cash conversion cycle and carrying more efficient levels of inventory, which resulted in accounts payable at the beginning of fiscal 1Q20 being lower".

Yes, GameStop has burned far less cash while being partially shutdown than as a fully-functioning retailer.

Since I wrote my most recent, bearish article on GameStop, the stock has climbed 14% from $3.60/share (granted, against a 22% gain in the S&P 500). But between then and now, shares (1) lost a third of their value in the last week of March, (2) doubled in the first few days of April, and then (3) fell by nearly 30% in the first half of May. Time the entry right, and an investor would have looked like a genius. Time it wrong, and a portfolio's returns would have been embarrassing for the rest of the year at least.

I certainly have fundamental reasons for not liking GameStop and its stock. However, what drives me further from it is not a "hot take" on the future of the company. Rather, it is the stock's erratic price behavior and all the distraction that comes with share ownership.

Data by YCharts

The graph above shows how hard it has been for an investor to deal with GME in the past year. Shares have consistently failed to reclaim 12-month highs, while bouncing all over the place. More important than the business prospects, the stock has been influenced by speculations on the gaming console cycle, drama at the Board of Directors, sky-high short interest, and the buying and selling of shares by a celebrity investor.

There are currently 2,800 names trading at the New York Stock Exchange. Why would I ever consider buying GME, other than for the pure joy of gambling, with so many more compelling alternatives to it in the market?

I use an approach that favors predictability of financial results and broad diversificationwhen choosing stocks for my All-EquitiesStorm-Resistant Growthportfolio. So far, the small $229/year investment to become a member of the SRG community has lavishly paid off, as the chart below suggests. I invite you toclick hereand take advantage of the 14-day free trial today.

Disclosure: I am/we are long DG, TJX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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GameStop's Awful First Quarter And The Joy Of Gambling - Seeking Alpha

Photograph courtesy of Armon Owlia for The Triangle

Listen to this episode of Mark and Jair Explain Sports online:

This week, Mark and Jair have an inside scoop about the gambling industry from a U.S. Integrity member, COO Scott Sadin. Sadin pointed out companies that interact with U.S. Integrity. One noticeable partner of Integrity sports is the NBA. After having Dave Barritt as a guest last week, it was good to take another dive into the gambling world of sports. If youre interested in taking a highly recommended sports gambling course, visit https://sportsgamblingeducation.com/.

Earlier today the NBA announced more regarding its plan to restart and finish the 2019-20 NBA Season. The season is expected to resume on July 31. Many people question team chemistry and they may have a point. We shall see. Will LeBron James lead the Lakers to triumph, or will it be another upset and bitter ending to a season with high expectations? Lets talk more next week.

Stay tuned for more episodes of Mark and Jair Explain Sports. Both Mark and Jair will come up with several different sports topics to discuss during their podcast. Be sure to follow them on Instagram @exsportsdrexel.

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A Deeper Dive Into Gambling - The Triangle - Drexel University The Triangle Online

Improving your edge when gambling is tricky, but there are a few things you can do to boost your chances of winning.

Reading books about strategy is one of them for sure, but for many people listening to gambling-related podcasts will be a much more appealing option.

In order to give you a head start, we have picked out a few of the best gambling podcasts.

Anyone who has fancied taking a peek behind the curtain in Las Vegas should definitely give the Behind the Bets podcast a go. Featuring the ESPN gambling analyst Doug Kezirian and guests, the Behind the Bets show has had to be innovative of late in order to make up for the lack of sports action. Behind the Bets has instead looked at options such as betting on eSports such as League of Legends, as well as picking out random sports around the world that have continued.

With almost 25,000 followers on Twitter, Behind the Bets is one of the worlds top gambling podcasts. Like most of our recommendations, there is one episode a week and it is released for free on all of the usual podcasts platforms that you likely already use for audio entertainment.

Next up is Gambling With an Edge, which comes from pro gamblers Bob Dancer and Richard Munchkin. This is a great choice for anyone who is hoping to go pro in the world of gambling.

The Gambling With an Edge podcast is coming up to its 10-year anniversary, so there are hundreds of episodes to go through for anyone who is looking to use some time on improving their edge. Episodes normally have a special guest who adds insight into the gambling world.

Unlike some of the other podcasts that are online gambling guides catering to a worldwide audience, Against All Odds with Cousin Sal is focused first and foremost on humour. The titular Sal is the host of Cousin Sals Sure Thing and many will recognize him from Jimmy Kimmels show. Sal brings on a variety of celebrity guests to discuss their involvement in gambling, with all kinds of sports covered everything from NBA and the NFL to competitive eating.

Las Vegas experts regularly appear and this podcast has a massive audience, with more than 200,000 Twitter followers. Recent guests who have been on Against All Odds with Cousin Sal include the Hall of Fame boxing trainer Teddy Atlas, who is also a top fight commentator. The show also recently featured the former football star Michael Irvin to discuss the NFL draft.

Aimed at more of a casual crowd, You Can Bet on That is still a fun listen for anyone trying to broaden their gambling horizons. The show has been running since early 2012, with hundreds of episodes having been released during that time. Regular hosts Mark DeVol and Dr. Mike go into great detail on how to improve your edge at gambling, with poker a particular focus on the show.

Another long-lasting show, The Sports Gambling Podcast does exactly what it says in the title. Run by Sean Green and Ryan Kramer, there are usually multiple episodes a week to listen to.

The Sports Gambling Podcast covers all of the latest important sports and gambling news, as well as bringing game previews to their large audience. Free picks are available on the show and this is one of the top reasons for people to tune into this entertaining podcast.

More than 10,000 people follow The Sports Gambling Podcast on Twitter, so it is clearly a highly trusted product.

Anyone who is seeking to improve their gambling edge should definitely think about subscribing to The Action Network Sports Betting Podcast. Advice for DraftKings and FanDuel lineups is regularly featured, so daily fantasy sports fans will find a lot to like about the show.

The Action Network Sports Betting Podcast has won the Best Betting Podcast or Radio Show prize from the Fantasy Sports & Gaming Association, indicating it is one of the very best in the business right now. Top guests are often on the show, with golf pro Keegan Bradley having recently featured along with NFL draft betting specialist Matthew Freedman.

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Best Gambling Podcasts to Improve Your Edge - ThatShelf.com

The Oregon Lottery announced plans May 29 to soon offer imaginary sports on its mobile sports betting app.

Gamblers who signed up for the Scoreboard app can bet on "virtual sporting events, including virtual horse racing, greyhound racing and soccer." Unlike real competitions involving humans and animals, the outcomes of virtual sports are determined by computer programs called "random number generators."

Lottery spokesman Matt Shelby says the agency believes it will be able to offer the new betting opportunities "in a matter of weeks."

"In terms of functionality, we just have to turn it on," he adds.

Kitty Martz, an anti-gambling activist who regularly testifies in front of the Lottery Commission, opposes the move and submitted testimony in opposition last week.

Martz notes that virtual games are created by programs called "random number generators," which are also used to power the agency's most lucrative games, video slot machines.

"There are no elements of skill or analytics, just fast paced, graphically-appealing, adrenaline-pumping imagery that can be available 24/7 because it is not reliant on the outcome of actual sporting events," she says.

She is asking lawmakers to block virtual games on Scoreboard, citing Shelby's 2019 testimony that the Lottery would never allow video slots on its mobile app. "We do not believe that passes the responsible gambling test," Shelby said then.

But a lot has changed since last year.

The lottery has long been the state's second largest source of revenue after personal income taxes. But the COVID-19 pandemic devastated the agency, which gets most of its money from video lottery products offered in taverns and restaurants, which shut down mid-March and are only now beginning to re-open.

Shelby defends the decision to introduce virtual games and disagrees with Martz's comparison to video lottery.

"From a behind the scenes math perspective, it's much more like Keno than video lottery, and nowhere near the high velocity play of video," he says.

Shelby says what he said to the Legislature last year remains true.

"We still do not have any plans to offer Video Lottery, or slot-style, games on a mobile device," he says. "That said, things today are different than last year. The public health issues we're facing are prompting us to look at how we could use digital channels to reduce face-to-face interactions. Nothing planned yet, but we are brainstorming. Moving forward, the key word is balance; public health, responsible gambling, employee and retailer safety, and of course revenue."

In other countries, lottery agencies already offer betting on virtual games as "filler" between sporting seasons, Shelby says.

"It's an open question as to whether we keep it when sports come back," Shelby says. "If players like it and it's popular, we would want to keep it in some form."

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Hammered by COVID-19, The Oregon Lottery Plans to Offer Gambling on Virtual Sports - Willamette Week

You hear a lot about responsible gambling, or responsible gaming, as the industry likes to call it.

But what is responsible gambling?

What effect does gambling have on individuals, families, and society as a whole?

And how can gamblers cooperate with the industry to ensure that responsible gambling is encourage and promoted.

This post offers some suggestions for both the industry and the individual.

Its not like responsible gambling is a new idea, but the casino industry hasnt changed much until about 20 years ago. At that time, new types of gambling started proliferating at a faster rate. For one thing, internet gambling became a thing. For another, tribal casino growth started skyrocketing in the United States, increasing the availability of casino gambling throughout the USA.

Legislators and industry execs are now starting to contemplate being more proactive in encouraging responsible gambling. After all, if the casinos turn every customer into a gambling addict who destroys his family finances, their businesses wont last forever. Eventually, they will face a backlash.

The answer is for casinos and legislators to work together to create best practices and processes that discourage irresponsible gambling while not hurting business.

Responsible gambling is one of those things thats probably easiest to define by looking at its opposite problem gambling.

What do problem gamblers do?

They gamble with money they cant afford to lose. They gamble without joy. They gamble compulsively.

Responsible gamblers, on the other hand, have their bills caught up and money set aside for entertainment. They only gamble with that money. They quit when theyre no longer having fun or when theyre getting tired.

Responsible gamblers are operating from a choice or a decision.

Problem gamblers seem to have lost the ability to choose whether to gamble and how much to gamble.

Casinos dont directly go to players and say, Hey. Lets take out a 2nd mortgage on your home so you can come gamble.

But historically, they have created games especially slot machines which intentionally push the addiction buttons in gamblers brains.

In fact, the science behind slot machines, their payback percentages, and their hit ratios could almost be considered insidious. The thought process behind creating these slot machine games reminds me of the thought process tobacco executives must have engaged in over the years as they added chemicals to cigarettes to keep them burning even when they werent being puffed on. (Cigars go out when youre not smoking them, but cigarettes keep burning thats so they can sell more product.)

But casinos are growing increasingly aware that they need to account for their business practices so they dont ruin lives.

I drew a comparison between cigarette companies and the casino industry, but I could have easily drawn multiple other comparisons.

For example, fast food has created increasingly addictive foods at increasingly attractive prices, all in the name of increased profits. They add sugar, salt, and fat to foods in copious amounts because such flavors create an addictive response in their customers driving more business.

Theyve also made buying their products faster and more convenient than ever before.

Television is another example. The price of television sets has dropped dramatically over the course of my life, and the quality of the programming has improved. At the end of the day, though, this has all been in service of our corporate overlords. They want to see my attention to their advertisers.

And its a profitable business.

Ill provide one final example social media, especially Facebook.

Have you noticed that the default move for refreshing your screen on Facebook is the same as pulling a lever on a slot machine?

The idea is that you dont know what kind of reward youre going to get.

The idea of likes is also another tool to get you addicted to the social media platform.

And to what purpose?

Again, its all so they can sell your attention to advertisers.

One recent effort by the industry has been for various industry associations to join forces with universities and responsible gambling advocates to study which best practices actually help achieve the goal of responsible gambling.

This led to the formation of the Responsible Gaming Collaborative.

Who participates in this effort?

Universities like Harvard and Yale are involved, as well as the American Gaming Association. They also have representatives from medical schools and other gambling industry organizations. Theyve tried to be comprehensive and solicit participation from people in the tribal casino industry, the horse racing industry, and the lottery industry.

Their goal is to create legal frameworks and operating policies that actually work to promote and encourage responsible gambling.

Their starting point is to create an exhaustive overview of what policies are now in place at various gambling businesses. The idea is to pinpoint which policies work and which ones dont.

Time will tell, but Im optimistic.

Heres why:

The idea is to focus like a laser on where government money is being spent effectively and where government oversight is working. The idea is to prevent damage to individuals and society from the negative effects that gambling can foster.

In other words, they just want to figure out which strategies for preventing gambling problems actually work, as opposed to those that dont.

Right now, the gambling industry spends $300 million a year to encourage responsible gambling. That might seem like a small amount when compared to the size of the industry itself, which is a $70+ billion industry worldwide, but its still not exactly small change.

And right now, there are no measures in place to measure the effectiveness of that spend. There are no consistent accountability measures to speak of when looking at that spend.

In fact, most experts agree that problem gambling hasnt gotten the research it deserves.

And since sports betting has just become legal in multiple states, and its expected to become legal in still more states, such research is more important now than ever before.

Problem gambling is probably a bigger problem than most people think.

And blaming the sick person is almost certainly the wrong approach. Vilifying problem gamblers or categorizing them as weak people with low character, does little to help improve society. Its also not fair or accurate.

It doesnt seem to matter what the gambling activity is problem gamblers will have problems with it. It doesnt matter if youre talking about the lottery, slot machines, or sports betting. These activities all have the potential to ruin peoples lives.

Problem gamblers come from all walks of life, too, although some demographics are more prone than others. Senior citizens, for example, often develop problems. But college students, minorities, and the military also develop problems.

How many people in the United States have a gambling problem?

Its estimated that its about 2.5 million, and only 15% of those people seek treatment of some kind.

And until now, public policy has focused largely on looking into what can be done for problem gamblers who seek treatment. Little attention has been paid to prevention efforts.

Gamblers Anonymous has list of 20 questions to ask yourself about your gambling habits. These can give you a good idea of what the difference between responsible gambling and compulsive gambling is.

The first question on their list is whether youve lost time from work or school because you were gambling. Responsible gamblers dont set aside their major responsibilities to gamble.

The 2nd question has to do with whether your gambling has made your home life unhappy. Im not a compulsive gambler, but I am a recovering alcoholic. And I can promise you, my home life was unhappy as a result of my drinking.

Does gambling affect your reputation?

That usually doesnt happen unless you have a problem.

Responsible gamblers dont feel remorseful after gambling. Responsible gamblers also dont gamble to try to pay debts or solve their financial problems.

People who lose efficiency at work or lack ambition because of their gambling might have a problem, too.

No one should gamble until theyre broke. Thats an obvious sign of a problem.

You shouldnt sell your belongings to have money to gamble with.

Basically, if you have any kinds of life problems related to your gambling, you might be a problem gambler.

By definition, if you dont have problems related to your gambling, youre not a problem gambler.

My advice?

Stick with a budget and have other hobbies. Dont gamble money you need for other things. If you develop any kind of problem related to your gambling, its time to quit immediately. Dont wait until the problem gets big.

Responsible gambling is better than problem gambling. Casinos should do more to promote responsible gambling because its the right thing to do. Youre always going to deal with businesses which dont much care and just want to make as much money as possible.

But a large percentage of businesses want to make a buck ethically, too. Some of these industry associations are making efforts.

Well see how well those efforts bear fruit in the coming years.

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How to Gamble Responsibly - What Is Problem Gambling and Addiction - BestUSCasinos.org

Another legislation session has passed, and Alabama still has no lottery.

Actually, the legislature does not in itself have the authority to pass a state lottery, they can only authorize a ballot initiative to let you vote on a lottery. It takes a constitutional amendment.

The lottery would pass in a vote in Alabama simply because Alabamians are tired of their money going out of state to Georgia, Florida, Mississippi and Tennessee.

All our surrounding Southern sister states have lotteries and Alabamians are buying lottery tickets in those states, paving their roads, and educating their students.

It would pass In Alabama in a unified bipartisan vote. Alabamians who would not or never have bought a lottery ticket would vote for it, and those that must trek to our bordering states to buy them definitely would vote in favor.

It is well known that the locations that sell the highest numbers of lottery tickets in Florida and Georgia are on the Alabama border.

The lottery proposal this year was doomed from the beginning because Governor Kay Ivey in her State-of-the-State address announced that she was taking an interest in the issue and announced a study group to study gambling policy for the state.

Governor Ivey had never taken a position for or against gambling as Lt. Governor or during her campaign for governor or as Governor. Therefore, when she took to the stage in the State-of-the-State, it was apparent that she was finally weighing in on the issue.

Well, folks, she did not just appoint any old study group, she quickly named a panel of Alabamians that are blue chip, top of the chart, super Alabama leaders.

This distinguished group is above reproach and have no ties or for that matter no real interest in gambling. Most of them have probably never even bought a lottery ticket or pulled a slot machine lever.

However, you can bet that this group will come up with a wise and prudent approach to how Alabama should address the gambling solution for our state.

Kay Ivey has been able to get the best citizens in Alabama to participate in major decisions and initiatives.

However, it would be difficult to find a bluer ribbon, stellar accomplished group of Alabamians as she has selected and garnered to serve on this panel to study gambling.

It will be chaired by former Montgomery Mayor, Todd Strange.

He has been successful in business and government and is above reproach and well respected.

Other members of this impressive group include Rey Almodovar of Huntsville, who founded and runs a major engineering firm in the Rocket City; Deborah Barnhart of Huntsville, who is the Chief Executive Officer emerita of the U.S. Space and Rocket Center in Huntsville; Walter Bell of Mobile is the past chairman of the worlds largest reinsurance companies and a former Alabama Commissioner of Insurance; Dr. Regina Benjamin of Mobile, who is a physician who served as the 18th Surgeon General of the United States and before that was President of the Medical Association of Alabama; former State Treasurer and retired banker, Young Boozer, who is universally respected; Sam Cochran, who has been Mobile Countys Sheriff since 2006; Liz Huntly, a widely respected attorney and child advocate in Birmingham; Carl Jamison of Tuscaloosa, a third-generation shareholder of one of Alabamas largest and oldest public accounting firms; former Alabama Supreme Court Justice and Court of Appeals Judge, Jim Main; and the legendary journalist, Phil Rawls, who recently retired as Alabamas leading and most respected reporter he covered Alabama government for the Associated Press for 35 years.

Perhaps the most respected and accomplished member of this elite panel is Bishop Dr. Mike Watson.

He is the Bishop in Residence at Canterbury Methodist Church in Birmingham and is serving as the Ecumenical Chairman of the Council of Bishops.

He has served and founded major Methodist Churches in Dothan and Mobile. He is also the past president of the Mobile School Board. I have known Mike Watson since our college days at the University of Alabama. I have never known a better man.

You will probably see this study groups recommendations on the top of Governor Iveys agenda when she gives the 2021 State-of-the-State address next February.

Steve Flowers is Alabamas leading political columnist. His weekly column appears in over 60 Alabama newspapers. He served 16 years in the Alabama legislature.

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Stellar group studying gambling in the state | Opinion | times-journal.com - Times-Journal

V

ermelho (PSD-PR) applauded the statements by the economy minister Paulo Guedes, who defended the legalization of casinos within the Brazilian territory. The opinion expressed by Guedes is in line with tourism minister Marcelo lvares Antonios stance, who brought up the subject.

At a meeting of ministers, Guedes said the gambling industry should be legalized as it would help promote tourism across the country. He also commented that a series of measures could be implemented to prevent low-income individuals from losing money to gambling.

The minister cited the case of Singapore, which significantly increased the number of visitors it has welcomed since the opening of its casino industry. "Problem gambling does not exist in Integrated Resorts (IR). Those who gamble there are billionaires. The tourism sector in Singapour went from five million to 30 million visitors per year, and Brazil currently receives six," he said. "The same occurs in Spain, a country that receives about 30, 40 million tourists. Macau currently welcomes 26 million visitors, who arrive exclusively to gamble."

Nelsi Vermelho Coguetto Maria, a member of the Chamber of Deputies the lower house of the National Congress, presides over the Sub-Committee for Legalized Gambling, part of the Congress' Tourism Committee.

"More than 70 years after a presidential decree banned casinos in Brazil, I have never seen a more favorable time for them to return to our nation," the deputy said. Casinos were prohibited countrywide in 1946.

Vermelho, who is from Foz do Iguau, wants this city to be one of the jurisdictions that receive casinos once again. In an interview with Radio Cultura, the lawmaker representing the state of Paran said the casino industry could be worth about BRL 25 billion (USD 4.6 B).

"The Mixed Parliamentary Front for the approval of the countrys Gambling Regulatory Framework seeks for the implementation of a Las Vegas and Singapore model, where casinos are part of large entertainment complexes which feature luxury hotels, bars, restaurants, stores, shows, nightclubs, and themed parks," the lawmaker continued. "We are going to attract foreign visitors and allow locals, who travel abroad to gamble to stay in their country, and spend money here, which would generate jobs and promote development at home."

Before the coronavirus crisis struck, around 200,000 Brazilian citizens left the country every month to gamble at foreign casinos. Only Las Vegas receives about 150,000 Brazilians a year. "Brazil is currently exporting gamblers, consumers, dividends and currency overseas, which could otherwise remain in the territory if casinos were legal."

Legislators and key stakeholders from the tourism industry ended up convincing government officials. Vermelho engaged in talks with the tourism minister and Gilson Machado Neto, the president of the Brazilian Tourist Board (Embratur), who strongly stand up for these proposals.

"The government is clearly backing up the implementation of a casino industry," Vermelho added. "Marcelo [lvares Antonio] said the creation of jobs would be substantial and Gilson [Machado Neto] said he has research that proves the number of foreign visitors could triple."

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Brazils economic crisis could pave the way for legalized gambling - yogonet.com

There are several types of gambling venues across the US. Due to different gambling laws, players in some states may not have access to some or all the venues on this list. Some venues such as riverboat casinos require particular geography. Others, like Native American casinos, can only be found in certain jurisdictions.

Everyone knows what a casino resort or a racetrack is, but what makes a cardroom different from a regular casino? Why are Native American casinos found in almost every US state? What exactly is a racino or a gasino? Read on to explore what makes these gambling venues different and where you can find examples to visit.

The definition of a casino can be pretty broad. Technically, most of the entries on this list (racetracks aside) are casinos of different types. When most people think of a casino, they picture a Vegas-style resort with bright flashing lights, the sound of coins against metal, and rows of green felt gaming tables.

The modern image of the casino has its roots in European gambling houses. The first casino that would be recognizable today was the Ridotto created by the Venetian government in the 17th century. The word casino comes from the Italian casa meaning house. It could refer to any building where public or private civil functions took place.

The American tradition of gambling saloons eventually grew into the first modern casino resort. The El Rancho Vegas in Las Vegas was the first modern casino resort and many subsequent casinos were based on its image. The venue opened in 1941 and was the first of its kind on the Las Vegas Strip. The first mega-resort casino was the Steve Wynn-owned Mirage Hotel and Casino opened in 1989.

A casino resort is described as an entertainment destination. Aside from a gaming floor; casino resorts most often (but not always) have an attached hotel, dining options, swimming pools, and live entertainment. There has been a shift over the years from resorts as adult vacation destinations to more family-friendly environments. Many resorts offer a range of activities for non-gamblers and minors to enjoy.

A cardroom refers to a venue that contains only table games played with cards. This is not to be confused with a poker room, which is a term used to describe a room usually on the casino floor in which poker is exclusively played. Cardrooms do not contain slot machines, craps, or roulette tables.

Montana is home to more cardrooms than any other state, followed by California. Youll find cardrooms in both states that have been in continuous operation since the early 20th century. The modern cardroom is a product of state gambling laws.

California does not allow slot machines or any game where balls and dice decide an outcome. This leaves card games as the only legal game of chance outside the states Native American casinos.

Most cardrooms are player-vs-player. This means gamblers do not play against the house. The cardroom collects a fee called a rake from each pot to generate revenue for the cardroom. Less often, a venue will charge players a fee at predetermined intervals instead of a rake.

Racino is a portmanteau of casino and racetrack. Its essentially a racetrack that has casino-style games. Racinos commonly have slot machines and video poker, but more racinos are beginning to offer table games to compete with casinos.

As racetrack attendance and revenue declined over the decades, tracks discovered that slot machines offered the opportunity to recoup lost business.

Casinos inside racetracks began providing enough revenue to allow tracks to offer bigger purses, attracting more racers and fans. Over time, more prestigious tracks that didnt offer slot machines found themselves competing more and more with newer tracks that did.

At least 10 states legally operate casino games inside racetracks. These states are subject to individual state laws regarding gaming and may not contain slot machines. Alternatively, some states may only have slot machines and video poker in their racinos.

Casino games can be found at Thoroughbred, harness, and greyhound tracks in states that have approved racinos. Most racinos also offer parimutuel betting on alternate games and some offer simulcasts of other racetracks.

A riverboat casino is another type of venue that is the product of particular state gambling laws. Riverboat casinos can be actual boats containing a casino floor or raised gaming floors over bodies of water. The classic shape of a riverboat casino is the paddleboat, familiar to fans of 19th century American culture.

Most riverboat casinos in the US are found along the Mississippi River and its tributaries. In the early 20th century railroads began replacing riverboats for transportation and freight. Riverboats were converted to leisure ships that offered dining and entertainment to guests. As state laws changed these boats began to offer gambling.

Various states have different laws regarding the definition of a riverboat casino and when gambling games can be played. Some states only allow gambling to take place when the boat is in motion. Most states with riverboat casinos allow for gambling as long as the casino floor is over water. Players can walk from casino lobby to gaming floor without noticing that part of the casino is a floating barge.

Racetracks, like casino resorts, are familiar to most gamblers. There are two types of tracks, those that offer pari-mutuel betting and those that dont. All racinos are racetracks but not all racetracks are racinos. Although a particular track may not offer on-site pari-mutuel betting, it is possible that betting on the game is legal at a different location.

Because sports betting is legal in many states some races such as NASCAR, velodrome cycling, and running may not have pari-mutuel betting on site but other racetracks may offer wagering on the event. The most common types of sports that offer pari-mutuel betting are Thoroughbred, harness, and greyhound racing. Camel racing is popular in parts of the Middle East, North Africa, and Asia.

The idea of racetracks and wagering on outcomes goes back thousands of years. The ancient Greeks created hippodromes for horse and chariot racing. The ancient Romans famously held animal and human races in various coliseums across the empire. Betting has accompanied races since the beginning of the competitions.

Bingo halls are venues where the modern game of bingo is played generally for cash or prizes. Like most forms of gambling, bingo is governed by state laws. Bingo parlors that do not offer cash jackpots will offer non-monetary prizes instead.

Because bingo is easy to understand and approachable to players of all skill levels, it can be found across many venues. Churches and charities will have bingo nights as fundraisers. Retirement homes and veteran associations will have bingo for the elderly. Schools and youth clubs may also have bingo as an activity.

Many Las Vegas casinos offer bingo. Players can find bingo at Native American casinos. Some bingo halls will offer jackpots that grow progressively and some link all players across different venues to play together. State lotteries are based on the bingo-model of gaming and there are many variations on the standard game of bingo.

The Indian Regulatory Gaming Act of 1988 created the framework for Native American casinos. The law allows Native tribes to generate revenue through gambling and encourages the economic development of tribal lands.

Many Native-operated casinos employ a large populace of the tribe that controls them. They are often located on reservations or other tribal properties. The industry generates billions of dollars in revenue each year with gaming being the main source of income for many tribes.

Under the Indian Regulatory Act, the federal government has the right to regulate native casinos. Tribes must enter a Tribal-State compact to clarify gaming regulation and levee special taxes. Some classes of gaming may not be allowed by certain states, and these games are the subject of unique arrangements between state governments and local tribes. There are currently 240 federally recognized tribes operating over 460 gaming establishments throughout the country.

In the US, you can find gambling in unexpected places. One common venue for video poker and slot machines across the country is the gas station. These are known humorously as gasinos. Players can enter a station and play gambling machines in a separate room attached to the business. This illustrates just how common gambling is in the US.

If youve never visited a casino resort it is a recommended vacation destination. Many racinos offer the same amenities and entertainment. If youre in a state with cardrooms or riverboat casinos, these venues offer a piece of culture and history beyond your standard gambling experience.

No matter what games youre into, your state may offer venues with fulfilling and unique experiences. Explore your area and see what gambling recreation and amenities are available to you.

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Gambling Venues in the US - Where to Gamble in the United States - BestUSCasinos.org