Monthly Archives: April 2021

Kiwibank has consulted with the Problem Gambling Foundation to let people put a block on payments to casinos and gaming websites from their debit and credit cards.

According to the New Zealand firm, it is the first bank to offer the scheme, where customers can ask for payment blocks to be put on their cards via phone banking.

It comes amid the ongoing coronavirus pandemic and the banks subsequent offering of interest-free, fee-free overdrafts to help people who are struggling. But Kiwibank found that many of the recipients of such overdrafts were spending the money on gambling.

Kiwibanks Hayley Beattie (pictured) said: We did see people who were desperate enough to provide something for their family turn to online gambling.

Some of them told us they thought they could look at being able to win some money.

The firm ran a pilot of the payment blocking scheme in late 2020, with 75% of customers successfully keeping the block in place for more than three months. Moreover, the bank estimates that the average customer in the pilot avoided AU$10,000 (US$7,600) in losses over that period.

The bank is now able to block merchant codes for known gambling websites if a customer requests it, said Kiwibank head of sustainability Julia Jackson.

When our customers trust us enough to discuss their gambling addiction, were able to really help them. We work with them to develop a solution that restores their mana and retains their dignity; without any judgment.

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Kiwibank launches gambling blocker with help of Problem Gambling Foundation - Gambling Insider - In-depth Analysis for the Gaming Industry

It has been said that the definition of insanity is doing the same thing over and over and expecting a different result. When it comes to casino gaming, Alabama is reaching new heights of this type of insanity.

Governor Ivey has stated most recently that gambling is here. Therefore, we should bring it out in the light of day, give them everything they want, and tax it. Gambling is here solely because it has been openly ignored despite being illegal. If someone continually breaks the law, they should not be rewarded. Governor Ivey and the Alabama Legislature should not reward the gambling industrys pattern of continually defying Alabama law by passing pro-gambling legislation and rewarding a history of bad behavior.

Gambling has long been illegal in this state. An exception exists for charitable bingo, which gambling establishments like Greenetrack, VictoryLand, and the Birmingham Race Course have tried to

use over the last 15 years to keep themselves in business. You dont need to be a lawyer to know that charitable bingo doesnt apply to electronic slot machines.

If you need a formal legal opinion to persuade you, the Alabama Supreme Court has ruled on the matter many times. For instance, in 2006 the court held that the Birmingham Race Courses machines were slot machines, which are illegal under Alabama law, as to those who pay to play them. From 2013 to 2016, the court repeatedly heard cases arising from the seizure of VictoryLands machines, ultimately concluding the machines were illegal. And finally, the court ruled again in 2016 that Greenetracks machines were not bingo machines, but were instead more like slot machines and therefore illegal.

How many times did the gambling industry need to be told the same thing before they got the message? The Alabama Supreme Court asked the same question at the end of the VictoryLand and Greenetrack cases, stating,

There is no longer any room for uncertainty, nor justification for continuing dispute, as to the meaning of [the term bingo]. And certainly the need for any further expenditure of judicial resources, including the resources of this Court, to examine this issue is at an end. All that is left is for the law of this State to be enforced.

But like a pouting child that keeps throwing a temper tantrum, the gambling lobby has continued to defy the Alabama Supreme Courts rulings. For instance, immediately after the Alabama Supreme Court issued its final decision in the VictoryLand case, VictoryLand reopened with the same kinds of electronic slot machines that Alabama Supreme Court had just declared illegal. How could it get away with this? The answer is simple: the state and local governments refused to enforce the courts decisions. As Alexander Hamilton wrote in Federalist 78, the judicial branch is the least dangerous branch of government, partially because it has neither FORCE nor WILL, but merely judgment; and must ultimately depend upon the aid of the executive arm even for the efficacy of its judgments.

Having a law that criminalizes gambling and a court that orders them to stop wont do anything if the executive branch doesnt enforce it. That is exactly what happened in Alabama when former Governor Bentley stripped the State of its power to enforce gambling laws. Consequently, the gambling industry has continued to break the law and taunt the State as it does nothing to stop them.

After repeatedly being ordered by the Alabama Supreme Court to stop, the gambling industry has not only ignored the court, but it has continually pushed for gambling to be legalized on a broader scale. Last month the Alabama Senate rejected Senator Del Marshs gambling bill. However, this week the gambling interests were successful in rekindling their cause in the Senate. Part of Senator Marshs bill included allowing VictoryLand, the Birmingham Race Course, and Greenetrackthe same entities that kept breaking the lawthe right to operate. Governor Ivey appears to be in support of such legislation, stating recently through her spokesperson that gambling is already happening in our state. In fact, it is rampant, and much of it is illegal. The governor feels strongly that we need to shine a bright light on these activities, control and regulate them, and make sure the people of Alabama are the beneficiaries.

Policy considerations aside, doesnt something seem wrong about that? Even if the gambling industry has a point, it should not be rewarded for continually breaking the law for years. Instead of rewarding the gambling industrys bad behavior, it is well past time for the State to enforce the laws already in existence. Failing to do so undermines the States authority and perpetuates the delusion that the same gambling institutions that have continually broken the law will stop breaking the law once they get what they want.

Matt Clark serves as the Alabama Center for Law & Libertys Executive Director. ACLL is the non-profit litigation arm of the Alabama Policy Institute. For more information, visit alabamalawandliberty.org.

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Guest Op-ed: Alabama Should Not Cave to the Gambling Lobby - courierjournal

The online gambling business has gotten a lot of attention from investors over the past year as betting has opened up in new markets and companies like DraftKings (NASDAQ:DKNG), Rush Street Interactive (NYSE:RSI), and Golden Nugget Online Gaming (NASDAQ:GNOG) have come public. The biggest is DraftKings, whose market cap is almost $25 billion, bigger than the more established MGM Resorts' (NYSE:MGM) $21 billion cap.

Legacy gambling companies are trying to keep up, but in many cases it's the nimble technology upstart that ends up dominating the brick-and-mortar incumbent. MGM Resorts is trying to buck that trend with some large and lucrative partnerships. And the strategy might just be successful.

Image source: Getty Images.

The strategy MGM Resorts is deploying is pretty simple. The BetMGM app, which is a partnership with British firm Entain, applies for an online sports betting or iGaming license in as many states as possible, and BetMGM partners with as many high-profile businesses and celebrities as it can.

The latest deal came in the form of a multiyear deal with Audacy, which recently changed its name from Entercom Communications, putting the app front and center for millions of sports radio listeners across the country.

MGM has also partnered with the NBA, MLB, NHL, MLS, NASCAR, and many more sports organizations in order to attract enough users to make the business viable. The strategy is to pay up front for big-name partners and apply that marketing to as many state markets as possible in order to grow the business. DraftKings has partnered with the NFL, UFC, individual sports teams, and even Turner Sports, but MGM has a wider partnership reach. And its bet is that will translate to more long-term growth.

On the flip side of the argument is that DraftKings is a pure play in online gambling and owns 100% of the business. MGM owns only 50% of BetMGM, limiting its upside in the long term.

If MGM doesn't stay focused on online gambling, it could lose out to smaller, more focused operators. But right now it's betting that the name recognition of MGM and the sheer amount of money and marketing that it's putting into the business will make it successful. But DraftKings' more focused strategy could prove to be better if customers choose its platform.

In a recent presentation to investors, management said that customer retention is over 80% and one-year revenue retention is over 100% (meaning users who stay end up making up for the lost revenue from users who leave). And the company has a highly recognizable brand, operates in more states than competitors do, and generates more revenue from online gambling than competitors. So far, the strategy is working and pure-play could end up winning out over bigger brands like MGM Resorts.

In 2020, BetMGM generated $178 million in revenue, and management expects that to grow more than 100% in 2021, which would put it over $356 million in annual revenue. DraftKings is still larger at $643.5 million in revenue last year, but management expects only 48% growth at the midpoint of its $900 million to $1 billion in revenue guidance. Within a few years, it's possible the two online gambling operations will generate similar revenue each year.

From an investment standpoint, it's BetMGM's higher growth rate and MGM's lower market cap that make me think MGM Resorts is the better buy. Let's assume that BetMGM's operations are worth the same as DraftKings' today, based on the growth rates and partnerships I highlighted above. MGM's 50% stake in BetMGM would then be worth $12.3 billion. Investors are getting all of MGM's other operations for just $6.5 billion, which is a steal given that in 2019 the company's resorts generated $3.0 billion in adjusted EBITDAR, which is a proxy for cash flow from resorts. I think that makes MGM Resorts an absolute steal compared to DraftKings.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Why MGM Resorts Is a Better Bet Than DraftKings in Online Gambling - The Motley Fool

By: Nick Piastowski April 7, 2021

Jordan Spieth hits out of the sand on the 10th hole during his Tuesday practice round at Augusta National.

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Who does the journalist, betting analyst or data guru like? Or the caddie or former player? Or the old-school gambler? Gimme the facts, storylines and trends. Gimme that inside-the-ropes look. Gimme your gut feeling.

You bet, bettor.

Welcome to GOLF.coms new gambling advice column, where weve assembled a panel of those aforementioned experts to make three best bets through odds from DraftKings (along with a to-win and sleeper pick during major weeks). A real-life professional bettor here will then heed that advice, add his acumen and wager his own cash. Its not unlike what you do through texts and Google searches except now its all in one place.

Our hope is to help you with your own weekly picks, whether those are for a low-stakes office fantasy league, (legal!) big-bucks bets with a sportsbook or through free-to-play Chirp Golf, an app from our parent company that is available in the App Store and at Google Play.

Now, on to some facts, the expert picks, the bettors best bets and info on how to bet for free.

This weeks tournament: Masters, at Augusta National Golf Club

TV: Thursday, 3-7:30 p.m., ESPN; Friday, 3-7:30 p.m., ESPN; Saturday, 3-7 p.m., CBS; Sunday, 2-7 p.m., CBS

Weather (weather.com): Thursday, mostly cloudy, 84 degrees, 11 mph SSW wind; Friday, isolated thunderstorms (34 percent chance of rain), 83 degrees, 8 mph S wind; Saturday, PM thunderstorms (54 percent chance of rain), 84 degrees, 13 mph S wind; Sunday, isolated thunderstorms (33 percent chance of rain), 81 degrees, 12 mph WSW wind.

Defending champion: Dustin Johnson

Top 10 in odds: Dustin Johnson, +950; Bryson DeChambeau, +1,100; Jordan Spieth, +1,150; Justin Thomas, +1,150; Jon Rahm, +1,200; Rory McIlroy, +1,900; Patrick Cantlay, +2,050; Xander Schauffele, +2,300; Brooks Koepka, +2,800; Collin Morikawa, +3,150

Nick Piastowski, GOLF.com, @nickpia

Bet 1: Kevin Kisner, top 20, +400. At whats expected to be a fire-breathing Augusta, I want someone whos probably been around here a hundred times, and thats Kis.

Bet 2: Justin Thomas over Jon Rahm, best finishing position, +105. Ill happily take an underdog JT. I know theres been some love for the new father angle, but Im not buying it, especially with Rahm not reportedly seeing the course until Wednesday.

Bet 3: Tony Finau, best 18 hole round score of the tournament, +3,300. Its either going to be him or Rory, right? And will be either a round to move into contention or a meaningless Sunday 64.

To-win: Sungjae Im, +4,150. I know, I know. I just wrote an entire story above detailing that last years results dont mean much this year. But Im looking at more than Ims runner-up finish last year (though Im not completely ignoring it, either). It takes iron excellence to win at Augusta, and Im has it. And those odds are so very lovely. (Put me down for thinking that Patrick Reed may make a run, too.)

Sleeper: Brian Harman, +12,500. Do I expect him to win? Not really. But at those odds, its worth a flier, considering he tied for third at the Players and made a nice run at the Match Play. (And if youre really feeling frisky Phils at +17,500!)

Jessica Marksbury, GOLF.com, @Jess_Marksbury

Bet 1: Rory McIlroy, top 10, +175. This just seems like a lock, doesnt it? Even if Rory doesnt contend on Sunday, he always has at least one super-low round that vaults him into a good finishing position. To wit, hes finished in the top 10 in six of the past seven years.

Bet 2: Bryson DeChambeau to make eagle in Round 1, yes, +400. Have you seen that video of BDC smashing drives on the range? I have to believe that an eagle on Thursday is not only very possible, but extremely likely.

Bet 3: Will Zalatoris, top debutant, +110. For an Augusta newbie, Will is a seriously seasoned player. No. 45 in the OWGR, five top 10s on the PGA Tour since September. Hes legit. This should be a slam dunk.

To-win: Dustin Johnson, +950. Yeah, hes the favorite but for good reason! Not only is DJ the world No. 1, but his record at Augusta is top-notch: Hes finished in the top 10 in all five of his most-recent starts at the Masters. Theres no reason to think this year will be any different.

Sleeper: Abraham Ancer, +8,000. Loved his inspired debut at Augusta in November when he finished T13, and hes been playing well since, with seven T23 finishes in his past nine events. He seems ripe for a breakthrough.

Brady Kannon, host, Vegas Stats and Information Network (VSiN), @lasvegasgolfer

Bet 1: Daniel Berger, top 20, +100. Daniel Berger has been one of the best players on Tour over the past year, winning at Colonial and at Pebble Beach. He is normally thought of as a Bermuda grass putting specialist, but he has learned how to be one of the best now on all surfaces. Hes never missed a cut at the Masters, and I think that holds up and then some.

Bet 2: Joaquin Niemann, top 20, +164. Niemann rolled into 2021 on fire in Hawaii, finishing second twice with a combined score of 46-under par. Kapalua is a correlated course to Augusta, in my opinion, and Niemanns iron play will hold up anywhere. He avoids three-putting and scores on the par-5s. I think hell hang around the top 15 or better this week.

Bet 3: Louis Oosthuizen, top 20, +188. Louis is one of the most consistent players at Augusta in the field. He gains strokes off the tee, and this year, unlike many of the past, he is playing extremely well around the greens and with the putter. Louis could win the whole thing if his game clicks for four days.

To-win: Justin Thomas, +1,200. Thomas has been getting better in every Masters appearance since his debut in 2016, finishing 39th, 22nd, 17th, 12th and fourth, in 2020. A win is the next natural step. Hes in good form, having just won the Players Championship, and hes seen success at Riviera Country Club in the Genesis Invitational, a course that shows a great deal of crossover success with Augusta National.

Sleeper: Matthew Fitzpatrick, +4,000. Fitzpatrick has made five straight cuts at the Masters and has been in great recent form, finishing fifth, 10th, 11th, and ninth in his past four stroke play starts. His iron play and magnificent short game ought to take him a long way once again.

Wes Reynolds, host, Vegas Stats and Information Network (VSiN), @WesReynolds1

Bet 1: Joaquin Niemann, top 20, +164. His game has very few weaknesses as he can bomb it off the tee (ninth in driving distance), hit plenty of greens (10th in greens In regulation) and make plenty of birdies (sixth in birdie average). He missed last years event due to Covid-19 so he should be eager to show out on the biggest stage.

Bet 2: Mackenzie Hughes, top Canadian player, +200. 12th on the PGA Tour for SG: Putting. Conners finished top 10 here last year and has been in better form; however, he can still be shaky with the putter at any time.

Bet 3: Jimmy Walker, to make the cut, yes, +200. Walker is 7 for 7 in making cuts at the Masters. This is likely his last Masters appearance for the foreseeable future, as his major exemption from winning the 2016 PGA Championship expires this season.

To-win: Jon Rahm, +1,200. The putter has been slow to get going in 2021, but showed some signs of life at the WGC-Dell Match Play, as he was the only top-seeded player to advance to the round of 16. Baby boy Kepa was born over the weekend, and while Rahm is certainly not free from distractions, his game looks to be peaking at the right time and he certainly comes in the right frame of mind. Hey, it worked for Danny Willett five years ago here.

Sleeper: Sungjae Im, +4,150: Granted last falls conditions made Augusta National play as easy as it ever has; however, Sungjae Ims T2 in his debut does not have the look of a one-hit wonder. Only Bryson DeChambeau has gained more strokes off the tee over the past 24 rounds. Im also has the short game to go along with his terrific driving. It should be no surprise to see Sunday Sungjae be in the mix again.

Martin de Knijff, Metric Gaming, @mdkentrepreneur

Bet 1: Viktor Perez, leader after Round 1, +8,000. The 28-year-old Frenchman is turning into a very solid player and plays tough courses very well. T-46 at the Masters in 2020.

Bet 2: Henrik Stenson, to make the cut, no -250 (couldve hoped for a better price). Completely out of form, and feels like a total steal.

Bet 3: Corey Conners over Adam Scott, best finishing position, -120. CC played really well at Augusta in November, finishing T-10. Great ball striker and in superb form.

To-win: Jon Rahm, +1,200. Rahm just became a dad, and in his case, I think thats a positive. The expected firm conditions are a big plus.

Sleeper: Patrick Reed, +3,500. Past winners should never be slept on. Worked a lot on his driving, and if its consistent, watch out.

Colt Knost, former PGA Tour player and co-host of GOLFs Subpar and Sirius XMs Gravy and the Sleaze, @ColtKnost

Bet 1: Justin Thomas, top 5, +275. This is a ball strikers golf course. More importantly, a second shot golf course, and not many hit their irons better than Justin Thomas.

Bet 2: Patrick Cantlay, top 10, +200. Another great iron player and a man who has no weaknesses. I love him to be a factor and doubling up your money on a top 10 at +200.

Bet 3: Will Zalatoris, top 10, +500. I know first-timers dont have a ton of success around here, but Will Zalatoris is not your typical rookie! Hes one of the best ball strikers on the planet. Wouldnt surprise me at all if he finished in the top 10.

To-win: Jordan Spieth, +1,150. Jordan Spieth has been trending! I loved him this week even before winning in San Antonio! His iron game is back to the Jordan Spieth of old! I look for him to collect his second green jacket!

Sleeper: Paul Casey, +3,500. Paul Casey has been in incredible form! Absolute ball striking machine and loves Augusta National. Wouldnt be surprised to see him pick up his first major!

John Rathouz, PGA Tour caddie and Caddie Network contributor, @rathouz

Bet 1: Shane Lowry, top 10, +800. Lowry has been playing solid as of late and determined to impress Captain Harrington in a Ryder Cup year. Possesses an elite short game that will come in handy on a much firmer National. His record here is not impressive, but opened the comparative 16 Masters with a 68 and sandwiched rounds of 69 and 68 in November.

Bet 2: Two or more holes in one in the tournament, no, -250. If the course plays firmer as advertised, itll be that much more difficult to get at pins. There have been 29 aces in Masters history dating back to 1934, and only on six occasions, two or more. Must dodge bullets to the front left pin on No. 6 and back left pin on No. 16. You can still root for one!

Bet 3: Lee Westwood over Collin Morikawa, best finishing position, +130. This is purely a play on experience. Westwood is in good form, with a fresh outlook, and will know how to navigate this Masters. Hes made 16 of 19 cuts and finished T2 in 16. Morikawa is maybe the best iron player in the game, but this Masters will play completely different than his first in November (even with an experienced caddie), and its unlikely he replicates his putting performance at Concession.

To-win: Justin Thomas, +1,100. Only once has a player won The Players and Masters in the same year Tiger Woods (20 years ago). It has already been a crazy year for Thomas, who now counts Tiger as one of his best friends. Making his sixth appearance at Augusta, JT has made the cut and improved his finish every year, highlighted by a fourth in November. A Sunday for the ages alongside another best friend Jordan Spieth wouldnt surprise.

Sleeper: Lee Westwood, +4,000. Its clear Westwoods recent form is no fluke, and hes returning to his best major championship (16 of 19 cuts made, six T10s, including two seconds) with a fresh mindset. At 47, hed be the oldest Masters champ and second-oldest major winner. Sure, hes never crossed the finish line ahead in a big one, and the Masters consistently proves it owes nothing to anybody, but it also writes dream storylines.

The old-school gambler, an old-school gambler, @notthefakeW

Bet 1: Jordan Spieth, top 5, +275. Hes baaaack! Usually, crusty old grumps like me dont toss around touchy feely words like fate and destiny. But if ever there were a case of a man and the moment meeting up at the Masters, well, lets just say Spieth in the hunt seems pretty much preordained.

Bet 2: Patrick Reed, to win, +3,500. Glassy conditions place a premium on the short game. And if theres been a better clutch putter in recent decades outside of Tiger, I havent seen him. Reed will be in this one. Bank on it.

Bet 3: Lee Westwood over Collin Morikawa, best finishing position, +130. No disrespect to the steely California kid, but theres no course where experience matters more. And no legitimate contender with more experience here. That were getting odds here makes this an especially appealing play.

To-win: Bryson DeChambeau, +1,150. Last November, all the distance-intoxicated pundits practically handed the green jacket to DeChambeau before the tournament even began. Which is how I knew NOT to bet him then. This year, theres much less distracting hype around him, so hes got that going for him, along with a game that is built on much more than just raw power. Also, I guarantee you he will not make another lost-ball triple bogey on the 3rd hole again. There may be a universe in which DeChambeau does not contend this week, but it would take a theoretical physicist much smarter than Bryson to locate it.

Sleeper: Matt Kuchar, +10,000. Kuchar was missing in action for quite a while there. But he looked back to his old steady self two weeks ago in Austin, and played well again last week at the Valero. Combine that with his solid history at Augusta, a course where history matters more than it does at many other venues, and youve got a pretty good long shot play at 100-1.

Erick Lindgren. Lindgren, the 2008 World Series of Poker Player of the Year, has won more than $10.5 million in poker tournament earnings and is an avid sports bettor. @EdogPoker

Bet 1: Scottie Scheffler, +5,500. Not many people can take Jon Rahms best shot in match play and respond. He is a killer.

Bet 2: Scottie Scheffler, top 10, +400. For the same reasons as above.

Bet 3: Max Homa, top 10, +600. Flushers gonna flush. That win at Riviera was no fluke, and theres a history of crossover success between that course and Augusta.

To-win: Jordan Spieth, +1,150. I actually bet him a few months ago at 30-1, but I still like him at this price. Lets go!

Sleeper: Viktor Hovland, +3,500. OK, so maybe not a true sleeper. But a good play given the odds. Hits it great, and his putting has been steadily improving. He will be the best of the young 20-somethings.

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Masters picks to win: A professional gambler risks his money on these bets - Golf.com