Monthly Archives: September 2020

It is confirmed that Armenia is tightening its gambling laws, with steps that affect both the location and size of betting venues.

Reported by Armenian media outlets, Finance Minister Atom Janjughazyan announced during a government meeting that bookmakers would now be allowed to operate only at locations that are some distance away from heavily populated areas, as well as educational or cultural institutions, government offices or hospitals.

As it stands, bookmakers are licenced to operate in Armenia, with most of the venues within heavily populated residential areas.

However, the new regulations mean that Yerevan bookmakers would need to move their offices to more than 150 metres away from the areas mentioned. Elsewhere, the distance is 100 metres, with the exception of the Syunik, Meghri and Tavush administrative centres, where the limit is set at 50 metres.

Janjughazyan said: This is negatively impacting the society by creating the dangers of easily being allured with gambling. In particular, such facilities should have additional premises, in particular, a foyer, which is to be separated from the general gambling hall for checking the IDs of people.

Read more here:

Armenia To Tighten Gambling Laws With Location Restrictions - Inkedin

Evolution Gaming (OTCPK:EVVTY), the live casino gaming provider, is revolutionizing the way people gamble. The company has seen phenomenal share price growth since it first listed back in 2015, with shares standing up 3,400% over the period. The company has transitioned into a 'must-have' service for many online casinos, offering the most entertaining gambling experience. The company now trades off a pricey valuation after the run-up, but I don't see growth slowing down any time soon as more casinos look to Evolution for their live casino needs.

First, I will explain what Evolution Gaming actually does and why I believe their future is so promising. Evolution Gaming develops, produces, markets, and licenses B2B live casino solutions to gambling operators. It is also the leading B2B provider of live casino systems, which has played a huge part in networking and building their brand presence. Evolution operates many studios across Europe and North America where they then distribute their live casino content to online gambling operators across the globe. These games can span from Live Roulette and Blackjack to their most innovative games such as 'Dreamcatcher' and more recent release 'Crazy Time'.

Source: livecasino24.com - 'Dreamcatcher' wheel

Since the release of 'Dreamcatcher' back in 2017 time, the company has seen the large opportunity in supplying new innovative games to the gambling market. Previously, gambling has mostly been associated with games such as that of Roulette, Baccarat, and Blackjack - games you mostly find in normal casinos but are now also available online. Evolution Gaming was at the forefront of this 'online gambling revolution' and supplied much of this live casino content. However, they have now also branched off to increase this entertainment factor with the launch of 'Dreamcatcher', using more engaging hosts and bringing more energy into the gambling industry. Since the initial success of 'Dreamcatcher', the company has launched two other wheels; 'Monopoly Wheel' and 'Crazy Time'. These more interactive games have now become the forefront of their offerings with other games such as live 'Deal or No Deal' and a reformed 'lightning' roulette also being introduced. This product development cycle is at the crux of Evolution providing shareholder value. In 2019 alone, Evolution launched 10 new games.

Evolution takes a commission from the gambling operator for the revenues they make from the end-user playing at their Live Casino games. They also charge a fixed fee to have access to the games they offer.

Evolution has also started to offer private tables allowing certain gaming operators to reserve tables just for that site and tailor it to their needs. This includes offering native speakers and giving VIP services.

The company wants to change the way people gamble and attract different players to their games, the CEO highlighted this in their Annual Report:

Our ambition is not only to create new experiences for returning casino players, but also games that attract completely new player types and that expand the live vertical in new segments.

Due to this innovation, Evolution's offerings have become a 'must-have' for many casino partners. Many people who now use providers to gamble largely expect the casino to offer Evolution's games, and if they don't, they could quickly lose customers. This expectation is what I believe will further fuel growth as Evolution brings the entertainment factor to the industry.

Evolution Gaming has seen phenomenal growth, continually exceeding market expectations. The growth has been so strong that the company has had to open new studios in order to have the capacity to meet demand. Reinvestment into their studios to create the best studio experience also plays into attracting more people to their live casino offerings. It is this that separates Evolution from its competitors. Others struggle to offer the breadth in terms of gaming availability that Evolution offers. Evolution's customers are the leading online casinos across the world, including the likes of Betfair and William Hill (a subsidiary of GVC Holdings (OTCPK:GMVHF)). The European casino market has seen huge growth, but Evolution has exceeded it. In 2019, the live casino market in Europe grew 39%, while Evolution grew 49%. Evolution Gaming is not simply 'riding the wave' but also gaining market share and increasing awareness for all its products in the industry.

Digging into the financials for the full-year 19, Evolution saw a huge surge in revenues, which jumped to $435 million, while EBITDA jumped 70% to $216 million. The overall profit for the year was 136 million, up 79% from the prior year. Much of the growth achieved on the year was fuelled by a mix of new partnerships with more casinos as the company expanded its reach and an increase in demand from end-users.

Source: Annual Report - 2019

It is Evolution Gaming's product development line which remains so vital to its success. The company must continue to develop new games into the market that exceed their previous offerings and continue to revolutionize the gambling market. They achieved this in 2020 with the launch of 'Crazy Time' which has gained great traction as it brings entertainment to customers through the multiple 'special games' it contains. The new product churn hasn't slowed down with the recent release of 'Instant' Roulette, where there is no wait time between each roulette spin.

Source: blueoceangaming.com - Evolution Gaming

Evolution Gaming's focus going forward should and is towards the huge US market that hasn't been heavily tapped into for online gambling. Evolution Gaming has already started to position itself well for this market securing numerous agreements with different operators to provide their services for the US market. An example of this was their prominent recent agreement with BetMGM - the JV between MGM Resorts and GVC Holdings which will see them power Live Casino services. The US live casino market valuation currently just stands at $214 million compared to $2.56 billion in Europe. The US market is growing at a slightly faster rate of 42%, but I believe this rate of growth will accelerate further in the coming years as online gambling is introduced to more states. The US has the biggest consumer market in the world with some of the wealthiest people in the world by average GDP per capita ($65,000). Tapping into this market has the potential to provide huge growth, particularly if Evolution Gaming is the first Live Casino that gains traction in the US. The size of the likes of MGM Resorts (MGM) and Caesars (CZR) is proof of this market opportunity. If these gamblers who go to these casinos can be transitioned online, Evolution Gaming can use their skill in the industry and the technology they have to optimize these users and build growth within the market.

Expanding their geographical footprint will be important as they look to offer their services into new markets. Earlier this year, Evolution secured licenses to allow it to operate in the South African market. Reaching and accessing these markets will involve securing new agreements with local online operators who understand that market better then Evolution does.

The continued improvement in developing their technology and software is also paramount in order to build their moat. Gambling is a very competitive industry, but Evolution combats this through developing its platform to handle software, hardware, video, employees and user data. This software is used across all its offerings and prevents the company from having to replicate software locally when they open new studios. Although the gambling industry is generally competitive, I would argue that Evolution has somewhat established its niche within the industry. Whilst they have competitors like 'Playtech', their offerings have nowhere near the traction of Evolution. Unlike online casino operators, Evolution has built numerous different games and has the technology to back it up, whilst online casino operators merely act as the 'middle man' hosting slot games and connecting customers to Evolution games.

On the basis of last year's numbers with a profit of 136 million in 2019, Evolution Gaming trades off a historic P/E of around 66 - one which prices in a huge amount of forward growth. Particularly after the large run-up in share price, the valuation does make me wary. However, the growth rates at the company have been incredible, and I don't see it stopping any time soon. Evolution is at the forefront of the online gambling industry - the fastest growing area in one of the world's largest markets. The online gambling sector has many untapped markets that can be exploited. The most prominent of these is the US market which is where the majority of online providers are focused for future growth. I expect Evolution to continue its expansion in its well-established markets, but I also believe, over the coming months, there will be many new partnerships with firms looking to exploit new emerging markets in the gambling industry.

Industry risks must also be considered when studying the viability of a gambling company. The gambling industry is a heavily regulated industry, where issues regarding problem gamblers have made governments wary of online providers and the easy gambling access they provide. That is primarily why the US market is so small due to it being so heavily regulated and banned in the majority of US states. To reduce the risks of being either fined or prosecuted, Evolution holds themselves to the highest regulatory standards. Not only this but the company actually employs the best technology and personnel to ensure all their games are fair and normal rules are enforced.

Over the last few years, Evolution Gaming has revolutionized the online casino space and brought the entertainment factor back into the gambling industry. With this, the company has seen huge growth as they have done well to monetize this traction and secure lucrative deals with casinos looking for their solutions. Evolution has built up a strong presence among their games, so that they are now found in the majority of large online casinos online. Its success is heavily linked to its strong innovation and product line which I believe is only going to improve going forward.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.

See more here:

Evolution Gaming: Revolutionizing The Gambling Industry - Seeking Alpha

The first full month of sports betting in Illinois had gamblers placing $52.5 million in wagers during July.

"I believe that's a pretty good month, but I don't have anything to compare it to," said Tom Swoik, executive director of the Illinois Casino Gaming Association. "I think since the casinos just reopened with 50% occupancy, and now four with just 25%, this is going to help us."

Bettors placed most of their bets on soccer, which garnered more than $20.5 million in wagers, according to the gambling board's report. Only Rivers Casino in Des Plaines and the Argosy Casino in Alton had operational sportsbooks during the month. Several more sportsbooks at casinos have come online since then.

Almost all of the bets placed in July were done through Rivers Casino, according to the report. The Des Plaines casino took 1.15 million sportsbook wagers in July worth $51.9 million.

Sportsbooks were open briefly before the COVID-19 pandemic, but not long enough to make much of a financial impact. The state netted only $543,598 in taxes from completed bets. The state taxes casino winnings at 15%. Cook County also taxes casinos 2% on revenue generated from sports betting. In July, Cook County received $42,025, according to the gambling board.

During the pandemic, the state relaxed rules about registering for online sports betting to make it easier for gamblers to place bets. Initially, gamblers had to be in a casino to create their accounts.

The majority of sports bets placed in July were on the outcome of an event, according to the report. These "Tier 1" wagers could be for a game played that day or for a specific team to win a championship at a later date. The 682,000-plus Tier 1 bets totaled more than $30 million for the month.

The gambling board report shows "Tier 2" bets -- more commonly referred to as prop bets -- totaled $22.5 million. Tier 2 bets are often based on individual performances, such as betting that a particular player will hit a home run, score a goal or catch a touchdown, gambling board officials explained. More than 480,000 Tier 2 bets were placed in July.

Additional details in the IGB reports show $17.7 million in bets were placed on baseball, nearly $4.6 million on boxing or mixed martial arts fights, $4.4 million on golf and $3.3 million on basketball.

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Gamblers place $52.5 million sports bets in July. The most bet on sport? Soccer. - The Herald-News

When a new technology appears or an existing one makes a big leap forward, it triggers a rush to find applications for it. So it is for artificial intelligence (AI), these days.

Big technology companies- Google in particular- have made AI breakthroughs in recent years. Many of these, like AlphaGo and other projects by Googles DeepMind team, are more proofs-of-concept than marketable products. They also have people in other industries wondering whether the key to revolutionizing their respective fields lies in these technologies.

SBC held a digital summit this week, replacing what would have been an in-person gathering in Barcelona if not for the COVID-19 pandemic. One of the topics of discussion on Sept. 9 was using AI to improve profitability in the casino industry.

Amrico Loureiro, director of the casino firm Solverde, led the discussion. In his speech, he forecast that in three years, no operator will be able to manage its business without using AI. Other business leaders shared their experiences with developing and deploying AI for everything from designing promotions to virtual customer service representatives.

Meanwhile, people both inside and outside the industry have mused about the potential for AI to help with responsible gaming. Norwegian state operator Norsk Tipping, for instance, believes a well-trained algorithm could identify and intervene with problem gamblers more effectively than a human team.

AI isnt magic, though. Before counting on it to solve problems, its important to look at its limitations. Here are a few ways AI could go wrong for the gaming industry, if its proponents arent careful.

There are many approaches to AI. The one generating most of the excitement these days is machine learning. Such algorithms take input data and produce output that, at first, is mostly random. But after each trial, they measure the quality of the result, or accept feedback from a human trainer. The algorithms then modify the intermediate steps to try to improve the output.

After many iterations of this process, the resulting algorithm may be better than a human at generating the desired output from a given set of data. However, all of the steps it uses to get from the input to the output are its own creation. Exactly how comprehensible they are to humans can vary.

The more opaque algorithms are sometimes described as black boxes. If one of these gives a weird answer, it can be hard to tell if theres a problem with the computer, or merely with humans ability to understand the reason for that answer.

Businesses relying too heavily on machine learning run the risk of becoming a cargo cult of sorts, following the machines instructions blindly. Human employees may not understand the reasoning for or importance of its recommendations, and make mistakes in executing them as a result.

Take any computer programming course and youre likely to hear the acronym GIGO at some point. This stands for Garbage In, Garbage Out. Its a reminder that the results produced by even a perfect algorithm can only be as good as the data you provide it.

Computers dont have what we would call common sense. Whatever sanity checks an algorithm contains depend on the programmers ability to anticipate others mistakes.

Try giving a human market analyst a weather report instead of a stock chart. Theyll tell you the data isnt appropriate to the question youre asking. A computer may happily crunch the numbers anyway and return nonsense for an answer.

In the case of the gaming industry, theres a related problem in terms of the sheer number of variables. Some of these may not seem important to include in an AIs data set, but turn out to have been critical later on.

Consider this hypothetical: perhaps the air conditioning in one corner of the casino is set too cold. A human manager might realize thats the reason slots in that part of the floor are under-performing. A computer, however, might just replace the games ad nauseam. It may never identify the actual problem because the room temperature wasnt considered relevant by the people assembling its data set.

In the case of machine learning, the quality of data isnt only important in the field. Even more important is the data used to train the algorithm in the first place. Unquestioned assumptions by the programmers can also creep in at that stage.

Already, weve seen the consequences of this in early applications of the technology in other fields. In one study, facial and voice recognition technologies were found to perform poorly with minorities who werent represented in their training data. AI for the gambling industry could run into similar difficulties if it doesnt account for differences in socio-economic class, or gambling behaviors that have a cultural component to them.

Even real world data sets can be problematic. Norsk Tipping trained its responsible gaming algorithms using a combination of player behavior data collected through its sites and self-assessments. Theres a risk, however, that the self-assessments could select for players whove already realized they have a problem. As a result, the algorithm could end up missing those who are less aware, for whom intervention might be even more important.

Related to the idea that AI has no common sense, it also has no understanding of the intent behind a rule. Whatever parameters you supply, it will follow, but it will do so very literally. Sometimes that means results that are quite different from what a human would have expected.

There is, in one example, the case of a machine learning algorithm created to optimize circuits. Some of its designs ended up featuring components completely disconnected from the rest of the circuit. These turned out to be necessary, as their mere presence affected the electromagnetic fields produced by the rest of the circuit. It was quite a departure from what a human circuit designer would expect.

When it comes to a human system like the gambling industry, this creates a big ethical risk. As it is, there is already a problem in most industries with people justifying unethical business strategies on the basis that they comply with the letter of the law. AI designed to optimize revenue for a gambling business will likely come up with some rather predatory strategies.

If such technologies become widespread, it will increase the burden on regulators. They would need to be extremely precise and thorough in their rule-making, because AI is very good at skirting boundaries.

Of course, engineers can design an algorithm to optimize for multiple things at once. For instance, a profit-optimizing AI could also consider the risk of encouraging problem gambling. But to do so, it needs a way of comparing the two.

A human decision-maker would usually rely on their own subjective moral compass to weigh such things. For better or worse, a computer relies on numbers. It needs to know exactly how many dollars of profit it can sacrifice to save one person from potential gambling addiction.

On the one hand, this is an important conversation that we need to have anyway. On the other, its a discussion that people are deeply uncomfortable with when its framed so bluntly.

None of these problems are insurmountable. However, using AI responsibly requires understanding its flaws. Its one thing to develop a superhuman AI for a narrow and well-defined task like playing chess. Real world decision-making often requires a more holistic and subjective approach, something which computers are still quite bad at.

Used carefully and in a focused manner, AI will be a powerful tool for the gaming industry. Its important, however, that we dont demand more of it than it can provide, lest it lead us into some very foolish decisions.

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Five Reasons Artificial Intelligence Wont Solve All Of The Gambling Industrys Problems - OnlinePokerReport.com

U.S. customers that had been grown accustomed to using Costa Rica-based sportsbook 5Dimes for their gambling entertainment were surprised when the operator announced earlier this month that it wanted to break up with them. It gave everyone just a limited amount of time to make their withdrawals and find an alternative, and it didnt take long for speculation to begin as to why it was suddenly calling off the relationship. The leading theory had been that 5Dimes was, perhaps, considering an attempt to become licensed in the U.S., and that theory has now been confirmed.

5Dimes founder Tony Creighton was kidnapped for $1 million in ransom in Costa Rica in 2019. His body was subsequently found almost a year later. The platform has been active for more than 20 years, and Creightons death was a shock to many, but 5Dimes continued to push forward without missing a beat. Laura Varela, the widow of the late entrepreneur, confirmed in a statement this week that an attempted entry into the regulated U.S. market is forthcoming, saying in a statement, I am the widow of Sean Tony Creighton. Sean worked incredibly hard to provide the best online sports betting experience to the 5Dimes community.

Many of you are asking about the brands future. I am limited in what I can disclose right now. But there are definitely some positive surprises in store for you. I am working with experts and consultants to make sure that the brand that you have come to love is well represented in the regulated U.S. market.

Gamblers in the U.S. who have used the site have until September 25 to withdraw their funds, and many are already running into issues when they submit their requests. There has been no shortage of frustration voiced on social media, and users are starting to get impatient with long wait times and problematic processes. Five days since I requested [a] payout. Money still in the account, but the cashier says I cant request money since it is paid out. If you want us back in the future, you better pay out what we are owed, said one. Another added, Still waiting on my bitcoin payout over six days now. A third chimed in, I hope for your sake that youre lying about wanting to come back to the U.S. market. Youll have a wrath of your current customers waging a negative publicity campaign against you.

Whether or not 5Dimes finds major hurdles when it tries to enter the U.S. market remains to be seen. Several states, in passing legislation to offer sports gambling, had included, or tried to include, language that prevents bad actors from receiving a license. These are defined as operators that were attracting customers in jurisdictions in which they didnt hold a license, and this might prove to be an obstacle for 5Dimes.

Read this article:

5Dimes confirms it wants in on the regulated US sports gambling market - CalvinAyre.com

Ludhiana, September 17

The anti-smuggling cell of the Ludhiana police raided a house in Preet Nagar and arrested 10 persons on the charge of gambling.

Those arrested have been identified as Anil Kumar Titu of Preet Nagar, Amit Kumar of Gobind Nagar, Ajay Kumar Babbal of Fateh Singh Nagar, Mohit Kumar of Daba Colony, Beas Shah of Ittan Wala Chowk, Mandeep Singh Aman of Kot Mangal Singh, Surinder Singh of Preet Nagar, Sunil of Barota Road, Amarjit Niku of Azad Nagar and Ashpal Tinku of Daba Colony. Jajji, Bhawar, Kala and Jagga escaped.

In charge of anti-smuggling cell Yashpal Sharma said during the raid, the police also recovered Rs 1.08 lakh in cash and playing cards from the spot.

Sharma said the police had received a tip-off that several persons were gambling in the house of Titu at Preet Nagar.

A case under the Gambling Act has been registered against the suspects and efforts are on to nab their accomplices, added Yashpal.

The police have intensified action against gamblers in the region. TNS

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10 caught gambling, Rs 1.08 lakh recovered - The Tribune

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The casino at the Downs of Albuquerque has been closed since March but racetrack casino owners are proposing a huge expansion in the five state racinos.(Jim Thompson/Albuquerque Journal )

ALBUQUERQUE, N.M. New Mexicos horse racetracks and racinos are proposing a sweeping expansion in their state-regulated gambling, including internet gaming and 24-hour casino operations.

In addition, according to draft legislation obtained by the Journal, the states five racetrack casinos would be allowed to have an unlimited number of video slot machines, table games and on-site sports betting parlors.

We call it opening up New Mexico gaming, said Sunland Park Racetrack and Casino lobbyist Scott Scanland. This is a mature industry now and the state has more than 20 years of experience in overseeing the gaming industry.

................................................................

The changes could mean an end to the states gambling compacts with Native American tribes, which produces about $70 million a year in revenue sharing for the state.

Under current law, racetrack casinos are limited to 600 slot machines each and can operate up to 18 hours a day or 122 hours a week, which translates into 16 hours a day, as long as horse racing or simulcasts of horse races are offered at the associated racetrack. Those limitations would be removed, although the racinos would still contribute a percentage of profits to the racetrack purses.

Scanland acknowledged the proposal is a major overhaul of the industry and the revenue streams the state takes in from it.

(Roberto E. Rosales/Journal)

New Mexico has racinos that operate in tandem with horse racing tracks in Albuquerque, Sunland Park, Farmington, Ruidoso and Hobbs. The racino gaming provides significant support to the horse racing industry, including a percentage of revenue to race purses.

The proposed legislation also would throw out many of the compromises that were made with gambling opponents that allowed the racetracks to open casinos in the 1990s. Among them:

Alcohol would be allowed to be served on the casino floor.

ATMs would be allowed on the casino floor.

Casinos would be allowed to establish lines of credit for individual customers.

Casinos would be allowed to offer complimentary meals, hotel rooms and golf games to gamblers.

The central monitoring for slot machine activity by the Gaming Control Board would end.

Restricting alcohol, access to ATMs, credit from casinos and freebies like rooms and meals were put into the existing laws at the behest of gaming opponents concerned with gambling addiction.

Guy Clark

Guy Clark, an Albuquerque dentist who has lobbied against gaming for decades, called the proposal a massive expansion of gambling that we have never seen before.

It is a betrayal of any attempt to restrict the amount of gambling addiction, he said, adding that the racinos proposal removes all the safeguards put in place to prevent increased gambling addiction.

Rick Baugh

Rick Baugh, general manager of Sunland Park Racetrack and Casino, said the industry has come a long way in dealing with people addicted to gambling.

All the tracks have teams of trained people who know how to talk with problem gamblers, Baugh said in a telephone interview. We dont want their money. We want people who know this is entertainment and have the discretionary dollars to enjoy it.

Pandemic restrictions

Operators of the racinos have long chafed at what they say is the competitive advantage tribal casinos have because they have virtually none of the restrictions imposed on racinos. Right now, all the racinos are closed under the governors emergency health order while some Native American casinos like Isleta and Route 66 are open for business.

The governor has no jurisdiction over the Native American casinos and the state racinos have asked her to allow them to operate at 50% capacity. Horse racing is allowed, but fans are prohibited in the grandstands. On-site betting also is prohibited.

The states compacts with the tribes that run 21 casinos across New Mexico include an agreement that the hours of operation and number of slot machines at racetracks be limited.

Under the compacts tribal casinos pay the state around $70 million to $80 million a year in revenue sharing.

While a study put forth by the racinos shows an increase in state tax revenue when the number of slot machines, table games and sports gambling are allowed, it does not include the $70 million a year the state receives in revenue sharing from the tribes.

The draft legislation does not name any sponsors but was accompanied by an economic study sponsored by the racinos outlining the potential income from different scenarios on expanding legalized gambling.

The Legislative Finance Committee is scheduled to hear from the industry about the proposal at its Oct. 1 meeting. The presentation is scheduled to be made by representatives of Sunland Park Racetrack and Casino under the heading of restructuring gaming regulation and fees.

Among the industry talking points for the LFC is that it allows New Mexico to join the big leagues in the gaming world.

Scanland said the racetracks had shared the proposed bill with tribes to get their input and possible objections.

We didnt want to surprise anyone, Scanland said. We wanted to start the process early.

Most of those changes would give the racinos a revenue boost in indirect revenue, according to an economic study by Union Gaming Analytics.

The study initiated by the racinos and the New Mexico Horsemans Association examined different scenarios including the addition of a sixth racetrack that was taken off the table by the governor last year.

The increased revenue from the racinos comes to around $40 million depending on different factors, including the amount of expansion of gaming each racino undertakes.

Bridging the gap between the Indian gaming revenue the state will lose and what the racinos will pay requires opening the sixth racetrack and legalizing internet casino gaming.

A huge chunk of the market is moving toward internet gaming, Scanland said. It is the wave of the future.

Clark said that wave will come at a cost.

Online casino gambling is the most addictive form of gambling available, Clark said. There is already a big push back in the United Kingdom, Canada and Australia because of the terrible effect of online gambling on young people.

He said the racetrack racinos will argue they are putting in safeguards, but young adults and teens will infiltrate the system.

Children younger than 16 have gambling apps on their phones in England, Clark said.

The increase in revenue to the state also is dependent on the expansion of gambling facilities, hotels and other amenities like golf courses to offer more of a tourist resort experience.

The draft bill leaves open what tax rates would be imposed on different forms of gambling.

Internet and sports gambling are viewed as the next big thing in legalized gaming.

A recent article in The Wall Street Journal said shares in online sports gambling companies have been skyrocketing during the COVID-19 pandemic, which had closed many casinos across the country and in New Mexico.

Originally posted here:

Upping their bets - Albuquerque Journal

CHESAPEAKE, Va. (WAVY) The vacant Sears at Greenbrier Mall will stay that way for the near future. A developer has withdrawn plans to turn the sprawling former department store into a gambling parlor, hotel and entertainment complex.

Chesapeake City Council was slated to vote on the controversial proposal this Tuesday after the idea was debated for months in front of the Planning Commission. However, within the last two weeks, the property owner, Seritage Growth Properties, notified city staff they no longer would be looking to move forward.

From the get-go city, planners warned the development would likely result in a significant increase in traffic in the area. As result the Colonial Downs Group that hoped to open a Rosies Gaming Emporium on the ground floor offered up $15 million for road improvements in the area.

That was enough to win over the Planning Commission, but Chesapeake Mayor Rick West said he doesnt think it was enough for council.

I just dont think they would have had the votes, West said Monday. I ended up not being able to support it.

West said while the money for road improvements was a generous offer, he ultimately thinks the plan to bring gambling to the mall property was not the right fit.

Across the country, indoor shopping malls have suffered in recent years and the pandemic has only increased those problems. While supporters of the plan framed it as one of the ways to save Greenbrier Mall,West thinks it could be a solution that causes another problem if it doesnt work.

Greenbrier Mall is a prime location in Hampton Roads. I think there may be other opportunities down the road for that location. The Rosies would get in the way of bigger and better ideas, West said.

The $80-million project was expected to add 500 jobs in the area, according to developers. While Seritage Growth Properties was not immediately available for comment, a representative from Colonial Downs says they are still looking to have a presence in Chesapeake.

We have been working for over a year to determine the best possible location for a Rosies Gaming Emporium in the city of Chesapeake, said Aaron Gomes, chief operating officer of the Colonial Downs Group. Over the course of that work, we have determined that another site may prove optimal for our facility, and we are now transitioning to a comprehensive review of this new location. We will have further comment regarding this matter and our next steps at the appropriate time.

This will be the third site Rosies has considered in the city. Plans for 700 historic horse racing gambling machines, satellite horse race wagering and a bar and restaurant off Rainbow Lane near Battlefield Boulevardwere scrapped in 2019.

Rosies already has a location in Hampton, which opened last year. Gaming is also heavily on the mind of the cities of Portsmouth and Norfolk which are hoping voters will approve the operation of resort casinos there.

Excerpt from:

Off the table: Plans to redevelop former Greenbrier Sears with gambling and entertainment scrapped - WAVY.com

HAGERSTOWN, Md. (WDVM) Maryland residents can place wagers at the race track, at a casino table games and slot machines, but not sports betting.

That may change in November, though, if voters approve a referendum to allow sports gaming companies like Draft Kings and FanDuel to do business in the state. Last month New Jersey placed $668 million in legal sports wagers, money that goes for education. And Marylands neighbors either all have sports betting now or are getting ready to launch.

James Smith lives across the Maryland line in Pennsylvania and says I would definitely vote for it. If its for schools, they could use the money. I know schools are a little tight on money up in our area so Im sure its the same down here.

The sports wagering question is one of only two statewide ballot questions this November. The other would give the legislature more power over state spending.

Read the original here:

Maryland voters to decide in November to legalize sports gambling - WDVM 25

After the legalization of recreational marijuana in Nevada, it was only a matter of time before Las Vegas saw an influx of vendors for the well-known psychoactive drug.

Now that Las Vegas is filled with cannabis stores, many gamblers have found themselves smoking or consuming marijuana or edibles before gambling. This is a practice that at best is foolish and, at worst, can cost you some serious cash.

Here are several reasons why consuming marijuana before gambling is a bad idea.

One of the biggest reasons why its not a good idea to consume marijuana in any form before gambling is the effect it will have on your reaction time.

Marijuana is well-known to affect reaction time, but you might be asking yourself, why does my reaction time matter in a casino? Its a good question, and it has a right answer. Gambling in many forms requires you to move quickly and make fast decisions for a simple reason. Its because youre often playing with other people.

Lets look at an example. Imagine that youre playing craps for real money . Everyone around you has had maybe a drink or two at best, which means theyre paying attention to every roll of the dice. When bets are being made, theyre usually being made quickly. Its a fast-paced game. And because everyone is playing together, theyre all counting on you to make your bets at the same speed theyre making their own.

That means they expect you to not only know the game and its ins and outs, but they also expect you to make your bets quickly.

If you dont, youre going to be the most hated guy at the table (unless youre making a lot of dont pass bets at the same time, which will make you even more unpopular).

Now, imagine that youre taking your sweet time deciding what to bet because youve consumed too much marijuana, and your reaction times are slowed. Youre struggling to understand whats going on and what the outcomes of each roll are.

But you still want to make your bets. You always want to participate. Everyone else is drinking a little, so theyre in a jovial mood, but also a party mood. They want fast-paced fun, and they want it now. And yet, here you are slowing their roll. You can see how this would go poorly for you. Youre a buzzkill, and that might lead to you feeling uncomfortable, to say the least.

Lets look at another example. Suppose you walk into the casino to make some money playing poker. You sit down at the table to play some Texas Holdem, waiting for the button to pass to you.

When you get the first hand, it takes you a while to realize the value of what youre holding and make a decision on what to bet. Everyone whos having a beer or three is wondering whats taking so long. Theyre already annoyed at the new guy.

But you keep being slow. You keep taking your time on every bet. Everyone else already has their bets planned out the moment the cards hit the table. Theyre ready to reevaluate when other bets are made.

Youre never ready. Everyone is always waiting for you. Resentment is rising, and suddenly, you find that everyone is basically playing against you and trying to push you out. Its not all about the other people though. Slow reaction times in games by yourself can be problematic, too.

Lets say you came to the casino to play some blackjack. You sit down at an empty table where its just you and the dealer. Youre trying to play quickly so that you can make some decent money per hour because youve practiced your betting strategy, your playing strategy, and card counting.

But because your reaction times are slowed, youre finding that you have to really think for a while before youre able to decide how you want to play or how you want to bet. Youre taking your time counting the cards. Maybe youre confused and cant quite count the cards the way you want to.

See the problem? No matter how you slice it, its not going to work out well to smoke or consume marijuana then try to gamble. Youre either self-sabotaging, or youre outright annoying people.

A continuous problem in the world of state-legalized recreational marijuana is the fact that it remains illegal at the federal level. Although many are advocating for the federal government to legalize marijuana at the federal level, it seems unlikely for the decriminalization of marijuana to occur in the near future.

Youre probably wondering why this matters. I can tell you that you only have to look at all the instances of federal raids on both medical and recreational marijuana dispensaries to understand that federal enforcement is still happening and is still a concern.

A consequence of the drugs illegality at the federal level is that banks are hesitant to work with dispensaries because of the laws concerning money laundering and drugs. The banks are concerned that they could be considered to have laundered drug money if they work with these dispensaries, so they have consistently refused to work with cannabis businesses.

You can probably see where this is going. The gambling industry isnt happy about all the marijuana shops that have sprung around Las Vegas. Many of these shops are right on the street outside the big casinos on the Strip.

Casinos are wary, to say the least, of having marijuana anywhere on their premises. Its possible they can lose their gaming license.

While there are marijuana-friendly hotels in Las Vegas, you cant just smoke anywhere inside a casino. The laws concerning marijuana consumption require you to be on private property.

If your room reeks of marijuana, you may be kicked out of the premises or possibly arrested and fined. Vegas casinos take this very seriously.

Even if youve consumed marijuana outside of a casino then gone inside to gamble, you run into another problem that is probably far worse than slow reaction timesproblems with your judgment.

Judgment is critical to making potentially successful bets at table games. While you can probably get away with consuming marijuana then tangling with the one-armed bandit (you only need to bet on all the lines after all), playing at the tables is very different.

You could probably get away with playing a game of pure chance like roulette. Still, any casino games that requires skill, like blackjack or poker, is going to be much more challenging to play successfully with marijuana in your system.

Games like blackjack require careful judgment and a good memory. Marijuana can affect short-term memory, which is a critical piece of memory if youre going to count cards, but it also affects your ability to make good decisions.

The wrong decision could cost you at the blackjack or poker tables.

Another problem is not just bad judgment but complete confusion. Even at low doses, marijuana can cause confusion, depending on the individual. Confusion, even in front of a slot machine, can be a severe problem.

For example, imagine that youre at the blackjack table, and the dealer has an ace showing. Perhaps insurance is offered, but you become confused about your own hand because you have ace nine. You end up making the wrong decision and lose some serious money.

You can see the same thing happening at the poker table. You become confused about the ranking of your poker hand and make the wrong bet, only to find out that you actually should have folded.

The best way to avoid the problems of mixing gambling with marijuana is to not consume marijuana at all. And if youre already taking advantage of the free drinks on the casino floor, then it may be best to think twice about smoking or consuming edibles.

Do you have experience consuming marijuana while gambling? Do you agree or disagree with this article? Let me know in the comments.

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How Marijuana Impacts Your Gambling - Vegas Casinos and Marijuana - BestUSCasinos.org