Monthly Archives: May 2021

Experts say online sports betting has spiked calls to the Michigan gambling hotline.

According to experts, isolation and depression can lead to gambling. Due to the pandemic start of online sports betting, calls to the Michigan gambling hotline have increased.

DETROIT, Mich. - Online sports betting became legal in January of this year, and calls to the Michigan Gambling Hotline increased.

Experts say then, those calls were from people who misunderstood the point of the hotline.

"They think problem gambling means they're having a problem with the website or how they are gambling or the game, " said Lori Mello, Program Manager of the Michigan Problem Gambling treatment program.

Now she says the calls they receive are legitimate.

"We are seeing an increase in isolation, depression which is leading toward gambling," says Mello.

Alia Lucas, a Program specialist of the gambling prevention and treatment services, says, "Since weve been in the midst of the pandemic youre now in the home, you areminimizing activity, there's increase accessabilityto ways you didn't have access before."

Counselors say they want you to know that help is available.

If you or someone you know needs help, please contact the Michigan Gmabling Hotline at 1800-270-7117.

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Experts say online sports betting has spiked calls to the Michigan gambling hotline - FOX 2 Detroit

Warren Buffett at Berkshire Hathaway's annual meeting in Los Angeles, California. May 1, 2021.

Gerard Miller | CNBC

Legendary investor Warren Buffett believes millennial-favored stock trading app Robinhood is contributing to the speculative, casino-like trading activity in the stock market and benefitting from it.

Robinhood has "become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year or year and a half," Buffett said at Berkshire Hathaway's annual meeting on Saturday.

The "Oracle of Omaha" also said he is looking forward to reading Robinhood's pre-initial public offering SEC S-1 filing as the company nears it public debut, expected in the first half of 2021. The company, which pioneered zero-commission trading, is seen as the main gateway for young investors to access the markets.

"American corporations have turned out to be a wonderful place for people to put their money and save but they also make terrific gambling chips," said Buffett. "If you cater to those gambling chips when people have money in their pocket for the first time and you tell them they can make 30 or 40 or 50 trades a day and you're not charging them any commission but your selling their order flow or whatever...I hope we don't have more of it."

Robinhood whose mission is to "democratize investing" is often criticized for its gamification of investing. The Silicon Valley start-up found itself in the middle of a firestorm in January amid the short squeeze in GameStop, which was partially fueled by Reddit-driven retail investors.The app has take steps to disband this reputation, be eliminating the confetti animation when investors make their first trade.

Buffett said he was unhappy to learn short-term stock options activity in Apple's stock was surging. He said he expected a lot of that activity is coming through Robinhood.

Robinhood's user growth has been explosive in 2020 and 2021. Millions of new investors jumped into the market during the pandemic, and millions more have joined in 2021. The stock trading appRobinhoodadded nearly 6 million clients in the first two months of the year, according to estimates from JMP Securities.

"There's nothing illegal about it, there's nothing immoral but I don't think you'd build a society around people doing it," said Buffett.

"The degree to which a very rich society can reward people who now know how to take advantage essentially of the gambling instincts of not only the American public but the worldwide public, it's not the most admirable part of the accomplishment," said Buffett.

Berkshire Hathaway's Vice Chairman Charlie Munger was less gentle with his description of Robinhood.

"I think it's just God awful that something like that brought investments from civilized men and decent citizens," Munger said. "It's deeply wrong. We don't want to make our money selling things that are bad for people," Buffett's right-hand-man added.

Robinhood defended its mission and the future of retail investing following Buffett's comments.

"There is an old guard that doesn't want average Americans to have a seat at the Wall Street table so they will resort to insults," a Robinhood spokesperson told CNBC. "The future is diverse, more educated and propelled by engaging technologies that have the power to equalize. Adversaries of this future and of change are usually those who've enjoyed plentiful privileges in the past and who don't want these privileges disrupted. Their criticisms are unfortunate but they prove why Robinhood's mission is in fact critical."

"The new generation of investors aren't a 'casino group.' They are tearing down old barriers to investing and taking control of their financial futures. Robinhood is on the right side of history," the spokesperson added.

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Warren Buffett says Robinhood is catering to the gambling instincts of investors - CNBC

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It is sometimes very hard to understand human nature. We can take one of the best examples for such a statement from the act of gambling. It is impossible to find logical reasoning behind the behavior of a regular gambler. Casinos offer numerous types of games of chance but they all have one thing in common: They are all made to make the casino owners profitable.

We live in an era of abundant online gambling. It is one of the favorite pastimes for people of all generations across the globe. From regular online pokies in Australia to extraordinary progressive jackpots at American casinos, large masses are drawn by these simple machines. It doesnt matter that a player can never beat any casino game in the long run. Why are so many people still so tempted to head over to these brick-and-mortar establishments? Why does the gambling industry keep flourishing? The near-miss effect could provide some answers.

The potency of near misses is greater than you can imagine. As wrong as it sounds in gambling, people are usually not aware of their losses. They rather see them as almost-wins. Indeed, if you think of any other niche or branch, there is much more rationale behind such a theory.

Lets take tennis as an example. Youve started your career as a teenager and received a wildcard for the first round of the US Open. You got lucky with the draw and actually offered a strong display taking the match into the fifth set. In the decider, a single point made the difference in the favor of your opponent. Would you consider that defeat a failure? No, you would rather look at the match as the one you had a chance of winning. It will only motivate you to keep training harder for the next battle.

Now, lets imagine you losing that same match in straight sets without offering any sort of resistance. You would think that tennis was not the right sport for you. You would not be motivated to train and you would eventually give it up.

Can you now recognize the difference between the two losses? At the end of the day, it was the same outcome, as you lost the match. However, it was that moment when you almost won that kept you motivated and eventually made all the difference.

The aforementioned example can be applied to a wide array of activities. When you play video games like Fortnite, Ninjala, Cyberpunk 2077, etc., you will have the option to improve your characters by completing certain challenges. If these challenges are impossible to beat, you will try them just once and never again. However, if you get close to making it count, the effect will compel you to try again.

Such a rationale is perfectly fine when it comes to activities that require skills. Unfortunately (or should we say luckily for casinos), our brain is incapable of differentiating these from activities driven by luck (the majority of casino games).

Casinos are well aware of the near-miss effect and they take the maximum advantage from it. Lets say you want to spin some reels on your favorite slot machine. The paytable reveals that the life-changing jackpot is paid when you land three lucky sevens. You will come so close to hitting it by landing two lucky 7s and an orange. You will almost feel like youve won, and you will immediately be tempted to insert more money into the machine in an attempt to hit it next time.

A royal flush is the strongest hand in poker. If you have a ten, jack, queen and king of hearts, you just need an ace of hearts to be unbeatable. However, if it doesnt land, you have a trash hand and youd be better off with a pair of twos. The same goes for roulette and pretty much any other casino game.

At the end of the day, close losses should never make any kind of difference at games with no skill involved. Sadly, our dopamine neurons just dont get it.

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The Effects of the Near-Miss Feature in Gambling - Study Breaks

Louisville, Ky.

For racing purists, the Kentucky Oaks stretch duel between the still undefeated Malathaat and the formerly undefeated Search Results provided plenty of excitement Friday afternoon in the 75-degree sunshine at Churchill Downs.

For gamblers, though, it was pretty entertaining to see one click of the tote board about 2 hours earlier. That was when Mattress Mack dropped the gauntlet on what he promises will be a seven-figure investment Saturday in Kentucky Derby favorite Essential Quality.

The owner of Gallery Furniture and a renowned whale of a sports gambler, Jim McIngvale put $500,000 on a Friday win bet, the equivalent of an appetizer. The main course is coming Saturday, when he reaches deeper into the $4 million he wired to the Downs.

Im going to be betting with both hands, is what he told Horse Racing Nation right after he moved the needle. Actually, he pegged it.

When one of his associates proxied his ante at a betting window around 3:15 p.m. EDT, Essential Quality went from a 5-1 second choice to a 3-5 favorite. At the time McIngvales money represented about 40 percent of the win pool. Four hours later, though, the pool was catching up with Mack. Essential Quality had drifted to even money.

Wait til Saturday.

Mack said this week he would probably bet $2 million on Essential Quality to win. By the time McIngvale and everyone else are done before the Derbys6:57 p.m. EDT post time Saturday, that stake might be about 3 percent of the total win-place-show pool. In other words, expect plenty more movement in the odds between now and post time.

Fridays Oaks might have provided a good omen to McIngvale. That is because another favorite prevailed in the Oaks. Despite a poor start from post position 10, Malathaat (5-2) and his Hall of Fame jockey John Velzquez appeared unfazed, especially chasing soft early fractions of 23.60 and 47.47 seconds.

The strategy was to break well and get a good position, he said. I thought I would take my chances and put my horse into the position that I should have been. She helped me get there.

That was within striking distance of Search Results (5-1). Velzquez took Malathaat wide through the second turn and was set to pounce down the middle of a track that yielded the sixth-fastest time in the 62 times the Oaks has been run at its current 1-mile distance.

It was just a matter that hopefully there was enough pace up front that they would come back to her a little bit, said winning trainer Todd Pletcher, now a four-time Oaks winner. Shes the kind of filly who loves a target.

Going stride for stride through the deep stretch with that target, a.k.a. Search Results, Malathaat finally got the lead and won by a neck. Now she is 5-for-5. Search Results is 3-for-4.

With 60-year-old Jon Court riding, Wills Secret (26-1) came out a nose ahead of Clairire (7-1) in the show photo to finish third. Wills Secret is trained by Dallas Stewart, who has a penchant for getting long shots to hit the board and fatten exotic bets in the biggest races. Fridays trifecta paid 463-1.

This fillys been knocking heads all year, Stewart said of Wills Secret, a five-time starter since Dec. 20. We ran hard in Hot Springs (for two stakes wins), and now we ran hard here.

At a time when horse racing long ago preceded the NBA into a mindset of load management, rolling a young filly out for five starts in a little more than four months is strictly old school. In contrast, Malathaat was rested for four months between her three victories as a 2-year-old and her two victories as a 3-year-old, both in April.

Running a filly a little or a lot is a gamble, a word that should have a lot more definitions in the dictionary. As a noun it has just one. An enterprise undertaken or attempted with a risk of loss and a chance of profit or success.

Still, it just seems like Malathaat and Wills Secret and Mattress Mack are in different leagues. Major league? Minor league? Perhaps those distinctions are in the eyes of the gamblers themselves.

Ron Flatters regularly scheduled racing column is available every Friday morning at VSiN.com. It is posted more frequently during coverage of big events like this weeks Kentucky Derby. You may also hear the Ron Flatter Racing Pod posted Friday mornings at VSiN.com/podcasts. There are two episodes this week. One is a pop-up featuringLas Vegas bookmakers and horseplayers Chris Andrews, Johnny Avello and Duane Colucci. They analyze every horse inSaturdays running of the Derby. The regular episode from Louisvilleincludes trainers Brad Cox, Chad Brown and Todd Pletcher plus jockey Luis Sez, Kentucky turf writer and publisher Jennie Rees and Jim Mattress Mack McIngvale, who talks about his $2 million worth of bets on Essential Quality. Every episode of the RFRP is available at iHeart, Apple, Google, Spotify, Stitcher and at VSiN.com/podcasts.It is sponsored by 1/ST BET.

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Gambling: It is defined by Mack and the Oaks - VSiN

Arlington Heights trustees Monday will consider prohibiting Churchill Downs Inc. from placing a restrictive covenant on the Arlington Park land, as part of the municipality's effort to preserve redevelopment options for the massive site -- including its continued operation as a horse racing track or adding other forms of gambling there.

Trustees will also vote on a resolution calling for an overlay zoning district that would list specific uses village officials don't want to see on the property, from adult businesses to kiddie parks.

"We are planning to take some proactive steps to ensure that any future plans discussed for Arlington Racetrack meet the desired land uses the village would like to see on this significant parcel, and that the door to continued horse racing at the track remains open," Mayor Tom Hayes said in a statement Friday.

The village board meeting will be the elected panel's first significant discussion on the disposition of the 326 acres at Euclid Avenue and Wilke Road since Churchill Downs put the site up for sale in February. The meeting comes ahead of a June 15 deadline for interested developers and investors to submit proposals to the Louisville, Kentucky-based horse racing and gambling corporation.

Horse trainer Mike Campbell, president of the Illinois Thoroughbred Horsemen's Association, told the Daily Herald this week that he's serving as a facilitator with a group of investors who hope to preserve live horse racing at the track. Their proposal includes the addition of industrial, residential and entertainment components, plus a hotel, on the sprawling property.

Fellow trainer Larry Rivelli also told the Daily Herald this week he's involved in an effort with other trainers and owners to buy the historic track.

Hayes said this week the continuation of live horse racing -- as well as the long-rumored prospect of a Chicago Bears stadium -- are both on the table.

The proposed prohibition on Churchill from creating any restrictive private real estate covenants on gambling appears designed to head off the possibility the company might seek such language in a land deal. Churchill's sale of Arlington was precipitated by its decision not to add slots and table games at the track after its earlier acquisition of a 61% stake in Rivers Casino in nearby Des Plaines.

The move not to apply for extra gambling at the track was decried by Campbell, horsemen and village officials, but Churchill executives said the tax structure of the 2019 state gambling expansion law was unworkable.

The ban on restrictive covenants would "preserve all options for the property whether it includes complete redevelopment through a long-term master plan or continued use as a horse racing facility with additional redevelopment," the village staff wrote in the board meeting packet.

Village officials believe any type of restrictive covenant concerning gambling uses would be contrary to village code and the village's public policy, they wrote.

The village board meeting is set for 7:30 p.m. and will be held virtually at vah.com.

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Arlington Heights to consider prohibiting Churchill Downs from barring gambling in track sale - Daily Herald

The gambling industry is surprisingly thriving despite the current situation. When the pandemic started, the online gambling sector somewhat blew up. The industrys online sector is what we can say has benefited from the pandemic since land casinos were forced to temporarily halt their operations during the lockdown period.

Last year, the global gambling industrys market size was able to reach an astonishing value of over 465 billion US dollars. Yet, this number is still expected to grow in the coming years as technology gets better than ever.

With that, we can expect that the best online casinos out there will be welcoming more customers or players this year and even in the next few years. Some reports do suggest that by the end of this year, the global gambling market value could grow as much as 516 billion USD. The future of the gambling industry is just looking bright.

The Online Gambling Sector

When it comes to gambling, there are the three most common ways to go about it. There is the land casino market, the underground or the black market, and the online gambling market. In 2019, the online gambling market size was estimated to be around 54 billion USD. By 2027, it should be able to reach over 127 billion USD with a CAGR of 11.5 percent.

Its easy to understand why people are starting to gamble online more often. Aside from the pandemic, its generally convenient and could even be cheaper. Traveling to land casino hotspots like Las Vegas or the Atlantic City could be an expensive experience compared to just going online to gamble.

Technology has also made the online gambling experience better than ever. Its also generally safe to transact online nowadays that people are more willing to participate in online activities like shopping and gambling.

With the pandemic, many land casinos and bookies operate at a limited capacity. There are also travel restrictions in some places until today and the best solution to be able to entertain ones self with gambling is to go online. This is why the online sector is booming and is likely to remain to do so in the next years.

Online Gambling Trends That Are Shaping the Future

Gambling and technology go hand in hand when it comes to development and advancement. As online gambling gets bigger, the bigger the demand is getting when it comes to a great user experience. Today, here are the latest online gambling trends that are shaping up the future of gambling.

Many online gamblers are now starting to prefer live dealer games and live betting. Live dealer games are available for casino favorites like blackjack, poker, and roulette. Here, online players get to sit on a virtual table and interact with a live dealer. Some would also allow the players to chat with each other.

Live betting or also known as in-game or in-play betting is also a hit for many punters out there. With this, they can place a bet during a live match. Usually, a live betting odd would only be available for a few seconds that using a betting app is the most convenient for this. People take part in live gambling for a more thrilling and realistic online experience.

Cryptocurrency gambling is still in its infancy but its becoming more popular these days because of its value. As Bitcoin and other cryptocurrencies like Doge, Cardano, and many more make noise because of their value, more people are starting to use cryptos to transact online.

The gambling industry was quick to adopt its use and today, there are many online casinos and betting sites that are finally accepting cryptocurrency transactions. Many are saying that the use of cryptocurrencies in the future of online transactions including online gambling. Its not impossible as today, there are even gambling sites that only cater to cryptocurrency users.

When online gambling started in the 90s, many probably thought that it would not go any further than that. However, when smartphones were created, online businesses quickly shifted to the mobile market. Today, the mobile market accounts for a huge chunk of the gambling industry. A great example is how 80 to 90 percent of the sports betting handle in New Jersey is from the mobile sector.

Right now, when we think of mobile, we immediately picture smartphone devices but things may be different in the future. Wearables like a smartwatch are also becoming more advanced than today, people can place bets with them. Its not impossible that this could very well be a huge trend in the gambling business.

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What the Future of Online Gambling Looks Like - Santa Clarita Valley Signal

Late-season NBA is in full swing and if you arent familiar with what that entails, it means a lot of late news, 10-day contracts, whacky rotations, and injury reports longer than your 8-year-old childs Christmas list. That also means betting opportunities ripe for the picking.

Below are a pair of bets that I am targeting Tuesday. If odds are available at the time of writing, they are listed. If not, I will note the cut-off of when I would avoid making the bet and what odds to target.

Milwaukee Bucks at Charlotte Hornets

The pick: over 220.5 points (-115, PointsBet)

What do you get when you combine two teams averaging over 100 possessions per game that have combined for an average of 243 points per game in each of their first two games this season? Apparently, an implied total of only 220.5 points. If youre following, thats incredibly low for this matchup. Both games have sailed over so far this season, the latter being without LaMelo Ball and Gordon Hayward for the Hornets, spelling any concern that their absences will have a massive impact.

The Bucks, while one of the best teams in the league, have proven to be beatable this season, as evidenced by their last game when they lost to the Trae Young-less Hawks. While this isnt to say the Hornets will beat them for a third time this season, the chances this game stays competitive are higher than the spread entails, which could lead to a lot more points. It also helps that the Bucks have the second-best record in the NBA in terms of hitting the over (35-24-1). I feel confident in the over here and would bet it as a one-unit play until 224.5.

Oklahoma City Thunder at Boston Celtics

The pick: Celtics -13.5

I typically try my best to avoid spreads of this size, but with the Thunder not even attempting to hide their tank, I have more confidence in the Celtics covering Tuesday. While Luguentz Dort should be active on the second leg of a back-to-back after sitting out Monday, the team will still be without Al Horford and Shai Gilgeous-Alexander, with the potential to see more role players sit out. On the flip side, the Celtics welcomed Jaylen Brown back last game after a couple of absences and with it being the front end of a back-to-back for them, were likely to see Kemba Walker active as well.

The Thunder have lost seven of their 14 straight losses by at least 13 points and while the Celtics have not been blowing teams out, the last team that they absolutely steam-rolled was none other than these same Thunder in a 111-94 win March 27.

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Gambling: Considering two games to bet on late in the NBA season - Colorado Springs Gazette

Niall McNamee reckons hell spend most of today asleep, his energy levels whacked after a day of fielding questions about his gambling addiction and how others can be helped.

There were radio, print and online interviews throughout Wednesday for the veteran Offaly footballer who admits it takes all his mental energy to get through them.

The round of interviews were to highlight the Extern Problem Gambling service and the support it provides for those affected by problem gambling.

The thing is, McNamee isnt an addiction counsellor or a therapist but his high profile as a top intercounty footballer means hes often the face of such campaigns and is regularly the first point of contact for individuals who find themselves in trouble.

About two years into his own recovery, he made a conscious decision to embrace such a role.

I suppose it snowballed from there, he says. The guys here [Extern] got me at a good time, they could have rang me in a weeks time and I mightnt have . . . sometimes you have to weigh it up because it does take a big toll on you.

Obviously Im in recovery from gambling and I will always be in recovery from gambling and I do my meetings and meet people. But I suppose you dont necessarily want to be defined by it either, if that makes sense. I do have that conversation with myself a lot of the time when these things come up and this was no different I suppose.

McNamee, still playing for Offaly at 35, admits the thoughts of ever returning to gambling just terrifies me. It took him nine years to pay off the debts he accumulated for starters.

Thats why when hes watching sports on TV, hell hit the mute button when the ads come on as they inevitably promote betting in some form.

If I was to gamble again, I dont know if I would stop. I dont know if I would have the balls to come back and say if I had a relapse and then go back to square one and start all over again, he said.

Life throws curve balls at him too, when that discipline is tested. He admits he struggled generally in 2020 with the effects of a concussion picked up while playing for Rhode in the previous years Offaly semi-finals.

It was difficult, I was getting very tired during days, having to sleep for an hour or two during the day as well, he said. I wouldnt say its completely gone, the last few weeks, it comes and goes. Id say Im 90 per cent there. Scary enough, theres no doubt about it. Ive been knocked out a few times down the years but never had any after effects but this one was a tough one to deal with, it was hard to get over it.

At one stage after the concussion, and a spell in hospital, he found himself at home in tears for no reason he could comprehend.

I was sitting on the couch and just started to cry, I just burst out crying for no apparent reason, he said. Herself was here with me and I was saying, I have no idea why Im crying. The pamphlets that they gave me at the hospital, I hadnt read them but she had and she said, Look, its just one of the side effects, its perfectly normal. There were those days where you just feel down, it lasted for a while.

It was difficult, for the most part Id be a positive person so to wake up some mornings and really feel groggy and foggy in the head and not feel like myself was tough, because its not who I am. I just had to deal with it. But it has gotten much better in the last couple of months, it kicks in now and then but for the most part I think Ive over the worst of it.

McNamee picked up another injury in training last weekend, dislocating his finger.

We stitched it up on Sunday so hopefully Ill be back 100 per cent in a week or so, he says. Im really enjoying it, Ill stay going as long as I feel Im adding a bit of value.

*Less than 1 per cent of people who could benefit from treatment for problem gambling ever seek it. Extern Problem Gambling provides support for anyone affected by problem gambling and offers remote services by fully qualified and accredited addiction counsellors. For support send a text to Extern Problem Gambling on 089 241 5401 (ROI) or 07537142265 (NI). See http://www.problemgambling.ie

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Fear of gambling relapse just terrifies Offalys Niall McNamee - The Irish Times