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Monthly Archives: May 2022
ASA Shares Its 2021 Gambling Ads Review, Notes That Youth Exposure Is Down – GamblingNews.com
Posted: May 20, 2022 at 2:28 am
UKs agency that regulates the advertising industry, the Advertising Standards Authority (ASA), has released its 2021 review and states that it received a total of 43,325 complaints connected to around 22,000 cases. In doing so, it doubled down on its tougher restrictions concerning ads in the gambling industry, through which operators wont be able to use reality TV stars or popular sportsmen for advertising purposes.
Online advertisements proved to be the most troubling as the ASA reported that 20,735 complaints were connected to this section. They were also responsible for 14,558 cases, which is around two-thirds of the total number of cases.
Compared to 2020, the number of issues that are connected to online ads rose by 19%, however, case numbers remained level. Online ads were featured on official websites of companies, social media, and video on demand, but the section also includes influencer ads, searches, and games.
When it comes to television ads, the ASA and CAP reported that even though the number of complaints rose by 44% and reached 20,425, the number of cases in 2021 was 4,802, which is a 5% decrease compared to the previous year.
ASA also applauded the use of technology and stated that the use of AI is revolutionizing its monitoring capabilities and hence, it enables it to do a better job. According to the results, ASA is able to take note of dozens of high-risk influencers on a weekly basis and even analyzes around 20,000 Instagram stories on a monthly basis.
The chief executive of ASA, Guy Parker, commented on the use of technology and stated that thanks to its evolution, the ASA is able to regulate misleading and irresponsible ads.
ASAs report concluded that there were shifts in the TV viewing habits of children. The analysis of a decades worth of data showed that the medium exposure dropped from 17.6 hours to 6.9 hours in 2020. Additionally, the number of TV ads that children saw on a weekly basis dropped from 229.3 (2013) to 103.7 (2020).
Since 2013, childrens alcohol exposure dropped by two-thirds, whereas their exposure to gambling ads on TV reduced by a third.
This is when the ASA used the opportunity to elaborate on the tougher restrictions concerning gambling ads. It stated that they will be in effect on October 1, 2022, and with the new restrictions, operators wont be able to use famous sports personalities and other celebrities to promote their brand.
Additionally, the new rules state that lottery and gambling ads mustnt appeal to children or young people.
CAPs director, Shahriar Coupal, shared some words on the new restrictions by noting that the days when operators used celebrities and influential sportspeople to make themselves appealing to under-18s are numbered. Coupal also added that the latest restrictions invite a new era for gambling ads, one that is particular to the adult audience rather than the youth.
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Gambling Is a Plague on America | theTrumpet.com – theTrumpet.com
Posted: at 2:28 am
The 2022 Kentucky Derby saw the biggest upset in over a century. Rich Strike came from the back to overtake the two favorites in the final stretch, winning the race. Rich Strike wasnt even supposed to be a part of the race, but a last-minute scratch brought the horse into the lineup. Rich Strike had 80-to-1 odds to win.
The 2022 Kentucky Derby was the most heavily bet race to date. espn reported that $179 million in bets were placed, an increase of 17 percent over last year. Ironically, the least amount of money bet was on Rich Strike.
Since the early 20th century, most gambling has been confined to casinos, back alleys and shady bookies. Yet over the past four years, gambling has become a much greater part of mainstream America. It is quickly becoming one of the most lucrative businesses in the country. Gambling is becoming the new American pastime.
Americans spent a record $53 billion on gambling in 2021. Between casinos and gaming apps, revenue increased 21 percent from the previous record set in 2019. The Las Vegas Strip is still king of gambling in America, wrote Forbes. The city brought in more than $7 billion in gross gaming revenue last year, according to the report. Atlantic City ranks number two with $2.6 billion in gross gaming revenue and the Chicagoland area comes in third with just over $2 billion. To put this into perspective, that is more than double the revenue of all major professional sports leagues in North America and Europe.
In-person gambling is still the most popular form of gambling. Forbes explained: Combined slot, table and physical sportsbook revenue hit $45.62 billion, or 85 percent of the total gambling revenue. The legalization of gambling on sports has transformed this pastime.
In 2018, the Supreme Court cut down a 1992 law that limited sports betting to Nevada. Now over 30 states have made betting on sports legal. If you have watched any sports lately, you are fully aware of how easy it is to place a bet via your smartphone: Online sports betting advertising is on every commercial during games and on every billboard at stadiums. Will Leitch wrote at the Atlantic: The nfl, nba, mlb, wnba and nhl (not to mention some college programs) have all signed lucrative deals with sportsbooks such as mgm, Ballys, PointsBet and DraftKings. The Supreme Court struck down a federal ban on sports betting in 2018; last year it was a $26 billion industry. Instead of flying to Las Vegas or finding a bookie in some shady alley, now all you need to do is open your smartphone and put money down on the game of your choice. In 2021, Americans put down $57.2 billion on sports bets. That is more than the cumulative revenue of books, music and movies.
Many of these online betting services are enticing Americans to engage in gambling when they may have never considered it before. Before the legalization of online gambling, the great majority of Americans would go their entire life without being tempted to seek out a bookie or fly to the handful of jurisdictions in which in-person sports betting was permitted, wrote Matthew Walther at the Atlantic. Many of the commercials I see while watching football promote what are called risk-free bets, a phrase that should probably fall afoul of various truth-in-advertising statutes. What they mean is that if you bet $300 and win, you will be able to withdraw your winnings ; if you lose, your forfeited wagers become credits that can be used for future bets. Risk-free bets serve one purpose: ensuring that you continue to make use of the platform. A record number of Americans are putting their hard-earned money into these no-risk platforms.
The pandemic also transformed gambling, in general, by moving it onto online casinos. Not only can you bet on sports from your smartphone, you can also play casino games virtually. The revenue from these online casinos is quickly dwarfing the earnings of sports betting. In 2020, online gambling revenue globally was $66.7 billion. By 2030, the market is expected to reach $153.6 billion in revenue. It is estimated that 124 million adults in the United States engage in gambling each year, be it at casinos, online, or on sports. But it is not just America; over 19 million Canadians gamble each year, which is half of the country.
These statistics do not include those who participate in lotteries, which is another monstrous source of profit. In 2017, state lotteries sales topped $71 billion. cnbc reported: Consumers each spend an average of about $86 a month on lottery tickets, including everything from scratch-off cards that come out of vending machines to entries for the Powerball and Mega Millions competitions. The average American spends $1,038 per year on lotteries. Americans earning less than $30,000 per year spend 13 percent of their income on lottery tickets. Forty-nine percent of American adults have admitted to buying lottery tickets annually, which is about the same number of people who gamble annually.
Who does gambling actually benefit? Casinos, gambling platforms and lottery ticket providers are the real winners. Impoverished people trying to win the jackpot and find an easy way out of poverty suffer the greatest. People are tempted to try to make some fast cash by attractive advertisements and the ease of access. But these gambling platforms are designed to create addiction so that there is a steady stream of revenue. Especially in a time when many are facing economic hardship, gambling is an appealing or desperate way to find relief.
The widespread legalization of sports gambling will undoubtedly create hundreds of thousands or even millions of gambling addicts, many of whom lose their homes, vehicles, families and dignity, wrote Forbes. Currently 1 percent of Americans, 3.6 million people, have a severe gambling addiction; thats 9 percent of U.S. adults. Gambling addiction is very similar to alcohol and drug dependency, and it often leads to other addictions and issues.
Gambling is yet another example of a behavior once looked upon as a vice and a crime becoming legalized and mainstream. Despite the reasonable expectation of widespread gambling addiction, many believe the money raised in taxes outweighs the societal costs. Gambling also leads, indirectly, to increases in violent crime, suicide, divorce and bankruptcy, wrote Stephen Marche at the Atlantic. Problem gambling is a significant social cost; the pain of the lives that are ruined spreads to whole families. The rough social cost of a single problem gambler is about $10,000 a year. Widespread gambling is associated with societal breakdown. Marche explained:
Betting tends to surge during periods of social breakdown. Russia saw a gambling orgy from 1905 until the outbreak of the Russian Revolution. The Communists believed it was a ploy by reactionaries, associated with the revolutionary movement in the country and even referred to as government measures aimed at distracting the society from political rallies and meetings. A similar wave of gambling roiled the French Revolution. By the revolution of 1789, the four-story, quadrangular Palais Royal in Paris had become the most glittering tourist center of Europe, with 180 shops and cafes in its ground floor arcades, according to a report in the Journal of Gambling Studies.
Widespread gambling is one of many troubling signs of Americas collapse. Bible prophecy warns that, in the end time, America will suffer from debilitating curses: This know also, that in the last days perilous times shall come. For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good, Traitors, heady, highminded, lovers of pleasures more than lovers of God (2 Timothy 3:1-4). People are coveting wealth by exploiting people through gambling, and people are coveting money by trying to win the jackpot. Gambling is a direct violation of Gods law, and the Bible says breaking Gods law is the cause of all these curses on our society.
To understand more about why gambling and other curses are engulfing the English-speaking nations and to understand more about what the Bible teaches on gambling, please read Herbert W. Armstrongs book The United States and Britain in Prophecy and our article Americas Gambling Addiction.
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Become a Hollywood Player: Factors of Litecoin Gambling That You Need to Know – Film Threat
Posted: at 2:28 am
It all started with a bit of altcoin called Litecoin. A year ago, it was worth $3.33. But since its a cryptocurrency (and now we know what cryptocurrency is) and because it is tied to the Bitcoin network, it has become extremely popular with gamblers worldwide. If youre looking to cash in on some of that newfound popularity, you probably shouldnt participate in any form of gambling with litecoins. However, suppose you are a gambler who enjoys playing the slots or betting with virtual currency. In that case, there are plenty of different types of digital coins that are worth considering instead. So which one should you give your money to? Lets take a look at some factors that might help decide that.
If youre looking to gamble with Litecoin, then its essential that you know if it is legal in your jurisdiction. To be more specific, nine countries have expressly banned crypto-currency in gambling. These include Curacao, Cyprus, Estonia, France, Italy, Latvia, Malta, and Poland. However, several other countries have either not yet decided whether or not to allow players to use crypto-currency in their casinos or just havent set up any laws for its use yet. Some of these include Canada and South Korea. So if you decide to play with Litecoins in any of these jurisdictions (or somewhere else), you run the risk of getting arrested or fined by the authorities for breaking the law.
Using Litecoin as a currency is that its faster and cheaper to move around. It has been designed to be used in a peer-to-peer network, which means that it can move about instantly, cutting down on transaction costs. As a result, you can make more transactions per second than you would if you were moving money around with traditional currencies like the US dollar or the British pound. Some players were interviewed regarding the potential of Litecoin as a gambling currency. They said that the speed you can move money around would give it an edge over other currencies.
Litecoin can be an excellent choice for gambling, especially if youre looking to participate in many different activities. Its faster than other currencies, and it can be used for various types of gambling. Litecoin is fast and cheap to use means that its ideal for roulette, online slots, and poker games. If you want to play with Litecoin, here are some of its advantages.
Since youre not using a traditional currency that has a central bank, theres no way that you can be traced. If you want to play with Litecoin anonymously, you can do so without any problem. Litecoin makes sure that the players data doesnt get recorded, so theres no way that you can be tracked down.
Litecoin is one of the fastest currencies in the world, which means that it will be able to move around more quickly than other currencies. If you want to participate in many different types of gambling, you need to use a currency that can move around quickly, and Litecoin is perfect. Unlike bank transfers, Litecoin transactions can be completed in seconds, which means that youll be able to take part in as many activities as possible within a short time frame.
Litecoin can be an excellent choice for gambling, especially if youre looking to participate in many different activities. Its faster than other currencies, and it can be used for various types of gambling. Litecoin is fast and cheap to use means that its ideal for roulette, online slots, and poker games. If you want to play with Litecoin, here are some of its advantages.
If you want to take part in many different types of gambling, youre going to need to use fast, secure, and cheap currency. If you choose Litecoin, youll be able to use it for all kinds of gambling activities, and there will be no problems with bonuses. Its easy to see why Litecoin was chosen for this purpose, as it can provide all of these things simultaneously.
If you want to invest in Litecoin, you should do so when betting. It might not be the best time to invest, but its a good choice for those who like to gamble, and its perfect for those who want to gamble with Litecoin. Also, the best litecoin casinos consider the currency when it comes to bonuses, and this is a great way to get your investment even higher.
Litecoin was created in 2011 by Charles Lee, and its one of the first cryptocurrencies created. Its one of the most popular currencies globally, and it has a reputation for being one of the best crypto coins. It is very flexible, and you can use it for various purposes. Its an excellent choice for those who want to gamble with Litecoin, as its considered one of the worlds most secure currencies. Also, its very flexible, and you can use it on a lot of different types of websites.
Litecoin has become an excellent choice for those who want to gamble with it, but this is not the only purpose it can be used for. Its being used in various industries and used as a currency, so you should expect to see more and more of it in the future. Litecoin is fast and cheap, making it perfect for gambling, especially roulette, slots games, poker games, and online casino games. Litecoin might not have the same market cap or user base as Bitcoin, but Litecoin has become a popular cryptocurrency. The USD value of Litecoin is now worth around $4 billion, and this means that there are now over 100 million coins in circulation. This makes Litecoin one of the most popular cryptocurrencies today, and its also becoming increasingly popular among investors. The current value of Litecoin means that there are now over 100 million coins available at any time, which means that people are more likely to use it for other purposes.
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Dave Portnoy Says, ‘F*ck That Guy,’ Gambling Twitter Seriously Objects – Sports Handle
Posted: at 2:28 am
When Dave Portnoy says, F**k that guy, people are going to listen.
Theyre especially going to listen when the person he says it to is well-respected within the sports betting industry.
Sticks and stones, what have you, said James Salinas, the Colorado-based sports bettor, VSiN host, director of recreation for the city of Denver, and most recently the recipient of Portnoys foul-mouthed complaint. But he doesnt know me, I dont know him. I guess Im a little more old school. If I have a problem with somebody, its not something Im going to put out there publicly.
Thats how I grew up in the neighborhood I grew up in. You had a problem with somebody, you met in person and you settled it one-on-one. But its a whole new world of social media and not something Im going to engage in.
Some background is needed, clearly. If you already know the story, skip ahead. But its a doozy.
Salinas appeared on VSiN on April 23, where he was asked by Brady Kannon about the NFL Draft markets, specifically that of edge rusher Kayvon Thibodeuax. Salinas then launched into a story about what happened to him when he attempted to get money down on Thibodeaux a week earlier at the Barstool Sportsbook at the Ameristar Black Hawk Casino.
To nutshell it: Salinas walked up to the counter, asked about limits, and was told he could bet whatever he wanted. So he bet $3,000 on Thibodeaux at +100 to be selected within the first five picks, and an additional $1,000 on Thibodeaux to be picked No. 2 overall at +350. Salinas said they took his money, printed the ticket, and then asked for his ID.
They never handed him the ticket.
A few minutes later, the counter person told Salinas the $3,000 bet had been limited to $800 and the $1,000 bet was dropped to $500. It gets worse: The +100 line was moved to -129, and the +350 line was moved to +250.
Suffice it to say, Salinas left without placing a bet. Days later, Thibodeaux wound up being selected fifth in the draft by the New York Giants.
A week later, ESPNs David Purdum reported that the Colorado Division of Gaming was investigating the incident and tweeted out the applicable rules and regulations surrounding the issue.
Notable is the if a ticket is issued by an operator language. The ticket was printed, but never wound up in Salinas hands. Time will tell how that language is parsed.
And that was about that, until
F**k that guy, Portnoy said in reference to the Salinas incident on The Dave Portnoy Show With Eddie and Co. on May 11.
Its the draft. Theres all sorts of inside information. Listen: Thats what a casino is in it to make money. This wasnt a game that was just a normal line. He was literally just driving around different casinos trying to get as much action on what he thought was, like, inside, or information, on the draft. So they take his license, they see that hes probably a sharp, and they want to limit him.
That happened to me not that Im a sharp when I was at one of their casinos. I tried to bet on NASCAR and they changed the odds and limited. Hes crying like a baby, but that happens everywhere.
Well, it doesnt really, outside of a few spinny wheel instances. Sure, there are limits, and yep, sometimes they are ridiculous. But moving the line without taking at least some of the bet? Almost unheard of.
Regardless, Salinas told me he didnt have the time or inclination to deal with it.
I sat on it, Salinas said. I moved on. Then Brady brought up the draft, and I thought about then and figured the floor was mine, might as well talk about what happened. Then I moved on from it again, but VSiN took it, put a snippet out. I never thought it was going to go nearly as crazy as it has on Twitter. Im not a big player on Twitter. There was no underlying covert action on my end.
Salinas said Purdum reached out, asked if it was OK if he investigated the matter further, and while Salinas had no problem with that, he also was ready to once again put the matter behind him.
I dont have the time, energy, or capacity to take all this on, he said. To go deal with [the Colorado Division of Gaming], you have to go through this whole process, and I was like, Man, I dont have time for this stuff. I didnt get the bet in, big deal, moving on.
I dont know anything about Dave Portnoy. This had nothing to do with him. I dont know in what capacity he works for the sportsbook; now Im learning more. I had no clue who he was. But then it became personal. This is different now. This was me against the sportsbook, now its me against some guy.
Portnoy, for the record, is the founder and head of the Barstool Sports media site, which is partly owned by Penn National Gaming. Penn National adopted the popular, if controversial, Barstool brand in launching its Barstool Sportsbook and uses Portnoy to promote it, but he has no official position running sportsbook operations.
Salinas, meanwhile, has now officially filed an official complaint with the Colorado Division of Gaming after learning of Portnoys comments.
I think thats where it was like, Really? Were going to go personal on this? You dont know me, you dont know anything about me. Why are you making these personal attacks? Salinas said. I didnt attack him, by any means. I was talking about the book. Yeah, I had some problems with the sportsbook. My biggest point of contention was not with the limits, but the fact they changed the price on me. That was my biggest contention from the get.
My feeling is you cant have it both ways, said Robert Walker, the longtime bookmaker now with USBookmaking. If you believe its an event where insiders have a huge advantage and I believe that is the case you only have two options. One, dont offer it. Or two, offer it with very low limits.
And, in fact, Portnoy himself said much the same thing later in the discussion on his podcast.
How much does this annoy you knowing that you dont have any direct control over it? his co-host, Eddie Farrer, asked.
I dont know that I wouldve handled that any differently if I was the casino, Portnoy responded.
Yeah but if it was your sportsbook, I feel like you wouldve taken whatever action. Just knowing you, and knowing gambling, Farrer countered.
Portnoy looked pained before answering
I mean, this guy wasnt betting much, so maybe, but the NFL draft. Yeah, they said they would take a certain amount of limit, but its not like chance. Theres information. Maybe they shouldve had smaller limits to begin with.
And as for what actually happened, Walker probably speaks for the entirety of the sports betting community.
What you cant do is offer it at high limits and then get upset when sharp players do what they do, Walker said. Which is put you in your place.
Also somewhat notable here: It was the newfangled online sportsbooks that were most aggressive in the NFL Draft prop market. Walker didnt offer it, Circa came in with about 72 hours to go with a limited menu, and the SuperBook kept its options small.
Im surprised anyone offers it at all, honestly, Walker said.
And while this incident is, admittedly, a little inside baseball within the gambling community, its obviously not Portnoys first misstep. Penn National Gaming bought the whole farm when it partnered with Barstool Sports, and has shown no remorse, even after dual Business Insider pieces that portrayed Portnoy as, at best, a sexual predator.
We look forward to being owner of Barstool 100 percent. They have been a great partner for us, Penn National CEO Jay Snowden said on a quarterly earnings call in February. Further, he told The Wall Street Journal in March that Portnoy will remain involved in what Penn does in sports betting,
For better or worse, the public at large sees Portnoy as Barstool Sportsbook, and with that comes this super-aggressive, shoot-from-the-hip, damn-the-torpedoes mentality.
Its not always pretty.
From where I stand, Im not going to talk about anyone personally, Salinas said. This was about a multi-billion dollar conglomerate business whose business it is to take bets. Im not yelling at ticket writers. They had nothing to do with this. There was nothing personal about this with me.
It just bothers me, I guess, he continued. I dont know its the day and age we live in. Whether you have a radio show or a television show or Twitter or anything with a keyboard, just being critical and criticizing folks without knowing who they are. He doesnt know me, I dont know him. If I have a problem with somebody, Im going to bring it up personally in a one-on-one setting. Im not going to disparage anyone out there publicly, thats not my style.
Im not familiar with Portnoy, Im not familiar with his podcast. If he can make a living doing what he does and be successful, great. But if part of it is to disparage other people and that gets people interested Im not going there. Thats not how I operate.
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REGULATOR WARNS HIGHER FINES ON THE CARDS FOR ILLEGAL GAMBLING ADS – European Gaming Industry News
Posted: at 2:28 am
Reading Time: 2 minutes
Online betting operators have been issued with more than $100,000 in fines over the past week as Liquor & Gaming NSW continues to take a zero-tolerance approach to the publication of illegal gambling inducements.
Most recently, online betting provider BetDeluxe has been fined $70,000 for publishing illegal gambling inducements after being prosecuted by Liquor & Gaming NSW.
This follows the successful prosecution of PointsBet, which was fined a total of $35,000 for publishing illegal gambling inducements last week, after receiving a $20,000 fine for the same offences in 2019.
Hospitality and Racing CEO, Anthony Keon said Liquor & Gaming NSW was continuing to pro-actively monitor online betting providers and it was completely unacceptable that seven bookmakers have been prosecuted on multiple occasions since 2018.
Liquor & Gaming NSW will continue to actively pursue operators for illegal advertisements and advocate for the courts to issue higher penalties, Mr Keon said.
In 2018 the NSW Government introduced new laws to significantly increase penalties for wagering operators who are found guilty of promoting inducements to gamble, with maximum fines now set at $110,000 per offence for a corporation.
Clearly some of these operators think gambling inducements are just the cost of doing business, but they are wrong, and they are pushing their luck. We will continue to bring these matters before the courts and seek higher penalties that reflect community expectations.
In Downing Centre Local Court yesterday (18/5), BetDeluxe pleaded guilty to five offences that included 21 Facebook promotions for bonus bets on sports games and enhanced odds on horse racing.
In addition to the $70,000 in fines, BetDeluxe has also been ordered to pay $8,500 in legal costs. This is the first time the company has been prosecuted for this type of offence.
PointsBet pleaded guilty to two advertisements that included an Instagram promotion to get $50 back in bonus bets, similar to those it offered in 2019 on the Apple App Store, promising $100 cash back on certain bets.
Prohibitions on gambling inducements are an important harm minimisation measure and the increase in maximum penalties, along with our continued prosecution action, should send a clear message to wagering operators about how seriously we view these matters, Mr Keon said.
Reoffenders run the risk of the higher range penalties, and more scrutiny, so let me be clear that patterns of poor compliance are not worth the trouble.
We hope this is the first and last time we see BetDeluxe in court for gambling inducements.
Since 2015, Liquor & Gaming NSW has successfully prosecuted 37 matters for prohibited gambling advertising, resulting in over $642,500 in fines, with nine betting providers currently before the courts.
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Opposition to major Ho-Chunk Nation casino project in Beloit – WKOW
Posted: at 2:28 am
BELOIT (WKOW) -- The Ho-Chunk Nation is building a $405 million casino in Beloit, Wisconsin near the Illinois border, after decades of planning.
"It's been a long time," said Ryan Greendeer, public relations officer for the Legislative branch of the Ho-Chunk Nation.
This new casino -- Ho-Chunk Gaming Beloit -- has been in the works since the late 1990s. Tribal leaders say they're finally close to breaking ground, with vertical construction likely to start in the next year.
The casino will feature 2,200 slot machines and 50 table games. There will also be a 300-room hotel, convention center, and an indoor water park.
"This casino and resort development is expected to create approximately 1,300 jobs for the greater Beloit community, said Sarah Lock, Director of Strategic Communications for the City of Beloit.
It could mean a huge economic boost for Beloit.
"The city and the county will be able to split 2% of the net wins from the Ho-Chunk Nation. We anticipate that that could be in the millions per year but that will remain to be seen as the casino is constructed and fully operational," said Lock.
This casino is expected to bring in big revenue and lots of jobs for the city but not everyone's excited.
The gaming facility will be just 20 miles north of the Hard Rock Casino in Rockford, Illinois, which opponents caution may be one casino too many.
"We have 25 casinos here in Wisconsin already. It's an oversaturated market," said Lorri Pickens with Citizens Against Expanded Gambling.
Pickens also said the proximity of these casinos pits them against each other. Tribal members disagree.
"We think that there'll be complementary to each other. We're looking at different demographics," said Greendeer.
"I really highly doubt that they build the $405 million structure," said Pickens.
Pickens doesn't believe this development will be lucrative for Beloit because she expects this casino will be scaled back.
"You'll see more of a boutique type of casino, I doubt there's a convention center with that or any of those other luxury items that they have proposed," said Pickens.
"We don't have any plans to scale those back, perhaps we'll see a different way of like furnishing them," said Greendeer.
The Bureau of Indian Affairs is working to put the land the casino will be built on into a trust. After that process, tribal officials said they can start working with the city for a groundbreaking date.
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GAMING IN SOUTH AFRICA: Why People Love Gambling | – Red Pepper
Posted: at 2:28 am
Millions of South Africans may now enjoy their new favourite form of entertainment thanks to the permissive gaming rules that now regulate the online gambling business.
Because the number of games available is, continuously growing, new players are frequently unsure where to begin, which is why weve put together this quick introduction to the most popular online casino games in South Africa.
As choices for online betting sites in South Africa continue to grow, it can be confusing to pick where you would play your favourite online games. Luckily, knowing what are the most preferred games can help you trim down your choices, at least.
Slot machines are a sort of amusement that consists of spinning reels with various symbols. Players place bets on symbol alignment, spin the reels, and win if the outcome matches their stake. Computer software controls the gameplay and the whole operation behind the reels, including the winning numbers and symbols. Todays greatest real-money online slots include a huge number of reels and pay lines, bonus games, and unique 3D visuals, as opposed to older versions with restricted symbols.
Players enjoy slots because they are simple to operate, and many of them have intriguing stories with fictitious or historical themes. Furthermore, consumers enjoy the progressive jackpot feature, which lets them have a game against other players and potentially earn huge prizes even with tiny amounts.
One of the most current preferences among South African gamers is playing live casino games. It allows players to play against a live dealer in real time, and they can also speak with the dealer throughout the game thanks to sophisticated live-streaming technologies. Mobile devices may now play live games as well.
The players may just press the live mode button, and the dealer will appear to help them with the remainder. This style of gambling is the most similar to the thrills experienced in traditional casinos. They may play a variety of table games and pretend to be at a table at one of the fantastic genuine casinos.
Realtime Gaming, or RTG, is a software business that is responsible for some of South Africas most popular casino games. It was the first firm to create multiplayer poker and progressive jackpots, and it now has over 400 titles in its repertoire, including both modern video and classic slot machines.
Most games also provide extra rounds, free spins, and other incentives, as well as a greater possibility of winning large. Furthermore, South Africans like RTG games since the firm enables the use of their native money, the Rand, which is quite handy.
Blackjack is without a doubt one of the most popular card games in South Africa among players who like the excitement of battling against the dealer. Each card in blackjack is worth a particular number of points, and the winner is the player who has a hand that comes closest to 21 without going broke.
Another reason why online gamblers enjoy blackjack is the games modest house edge, which may reach 0.5 percent every hand. Blackjack is also offered in a variety of versions, each with its own set of betting options and rules.
Roulette is a popular game in casinos all over the world, especially in South Africa, because of its exquisite appearance and high level of excitement. It is strictly a game of chance in which participants place bets on certain numbers in the wheels squares to predict the outcome of a center spinning wheel. The squares are available in two basic colors: black and red, and when the wheel starts spinning, everyone hopes it will stop exactly where theyve placed their wager.
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Wall Street as an Alternative for Financial Empowerment – The Weekly Journal
Posted: at 2:27 am
Contrary to popular belief, you dont need to have lots of money to invest in Wall Street, and you dont need a broker either.
What people dont know is that you can invest in Wall Street through investing platforms currently available to anyone. You can do it remotely you dont even need to be in Manhattan. And you dont need enormous amounts of money to invest. You can literally buy just one share of any given company, explained Gabriela Berrospi, an investment advisor and founder of Latino Wall Street (LWS).
According to Berrospi, people need to realize that investing in the stock exchange provides the possibility of achieving financial independence and the stability necessary to reach our goals.
Gabriela Barrospie, Founder of Latino Wall Street
I started out investing while I was still a student in college and, it goes without saying, everybody knows students dont have money to spare, recalled Berrospi.
The stock exchange is like a supermarket: there are different prices for different things. From penny stocks to Amazon shares that cost upwards to $2,000. So, there is a price range from where you could choose, depending on your possibilities, she added.
Berrospi mentioned that there are many other companies at the same level as Amazon whose stocks trade at more affordable prices. The advisor mentioned tech giants Apple and AT&T, whose shares sell for $140 and $19, respectively, at the time of this interview.
The investment advisor said the only thing needed to start investing in the stock market is a trading account in one of the online investing platforms available. It is similar to a bank account, but the difference is that, instead of having your money inactive in a bank account, you are actually managing it by investing in the things you consider will provide a good return of investment.
While Berrospi admitted there are some inherent risks to investing, she assured markets have a historical uptrend, despite their sometimes extreme fluctuations.
We have been through everything: the Great Depression, world wars, terrorist attacks, natural disasters, pandemics and the market always recovered, she said. If you follow statistics and invest conservatively, you dont run too many risks, then you would be able to position yourself so that you have a financially secure future.
Berrospi specializes in providing people the necessary tools to be able to work their way through Wall Street and have the possibility of achieving their financial goals.
There are many companies at the same level as Amazon whose stocks trade at more affordable prices.
Latino Wall Street strives to educate its audience, so it can generate passive income through financial investments following professional strategies, she said. Its all about financial empowerment.
Originally, Berrospis audiences were Latino women looking to achieve financial independence from their parents or spouses. But these women brought along their sisters, brothers and friends, and Gaby Wall Street eventually turned into Latino Wall Street.
Berrospi recalled that, since she got interested in investing in Wall Street, and even today, people operating in the stock exchange are almost exclusively white middle-high class males. So, Im trying to provide access to Latinos for them to have a chance at financial stability.
Latino Wall Street will be hosting its annual conference next May 27th at the Puerto Rico convention Center.
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GST: SC Ruling To Give Fresh Force To Debate On States’ Financial Freedom, Say Experts – News18
Posted: at 2:27 am
The Supreme Courts latest ruling that the recommendations of the Goods and Services Tax (GST) Council are not binding on the central and state governments is likely to give fresh force to the debate on the financial independence of the states and the importance of cooperative federalism for the success of GST, according to experts.
A Bench, comprising Justices D Y Chandrachud, Surya Kant and Vikram Nath, on Thursday held that the recommendations of the GST Council will have a persuasive value. The Court also held that both Parliament and the state legislatures can equally legislate on the matters related to GST. It said the GST Council is only a recommendatory body and its recommendations are not binding on the Centre or states.
The Bench was deciding appeals filed by the Centre against a Gujarat High Court judgment that dealt with the issue of levying IGST on importers on the component of ocean freight paid by the foreign seller to a foreign shipping line, on a reverse charge basis.
The reverse charge is a mechanism where the recipient of the goods or services is liable to pay GST, instead of the supplier.
Before the GST regime, service tax on ocean freight was exempted but it was lifted in 2017under the new indirect tax regime. The Gujarat High Court later in its judgment said the integrated GST (IGST) on ocean freight is unconstitutional.
Sandeep Chilana, managing partner at Chilana & Chilana Law Offices, said, While such observations of the SC are in line with Article 279A, it is likely to give fresh force to the debate of financial independence of the states to take its own decision and the importance of cooperative federalism for the success of GST.
He added that the SC ruling has confirmed the Gujarat High Courts judgment that the government does not have any authority to collect GST on a reverse charge basis from any person who does not qualify as recipient of services.
In the instant case, the Centre and state government attempted to collect GST on ocean freight payable by foreign supplier to the shipping companies, even when the supply was on CIF (cost, insurance, and freight) basis i.e. Indian importer had no privity of contract with the shipping lines and therefore was not the recipient of such services, Chilana added.
Rajat Bose, partner at Shardul Amarchand Mangaldas & Co, said this is a significant observation from the Supreme Court as it clearly defines the roles of GST Council, Centre and states and their interplay in the GST regime.
He added that the GST Council is a constitutional body whose role is to advise and recommend on GST issues. To accept such advice and pass appropriate amendments in law is purely the domain of the central and state legislatures.
Inderpal Singh Pasricha, senior partner at IP Pasricha & Co, said, The Supreme Court has correctly ruled that the GST Councils recommendations are not binding on Union and state governments since until such recommendations are given effect through relevant notifications/ circulars/ law amendments which alone will have the force in law that is always mentioned in press release containing recommendations of the GST Council.
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Investing: Partner with a financial advisor or go the DIY route? – Moneyweb
Posted: at 2:27 am
JEANETTE CLARK: We are living in economically volatile times, and the debate is around where the markets are more volatile now than theyve ever been in the past. Do we have more black swans circling the pond, or do we simply have access to more information and markets than we had before? One thing is certain: making investment decisions in this complex environment can be tricky, whether you choose to partner with a financial advisor or go the DIY [do-it-yourself] route with direct-to-consumer digital investment platforms.
Today we chat to Higgo van Biljon, CEO and founder of the community-based financial education app FinMeUp. The app connects industry experts and mentors with users, with the goal of taking them to financial independence.
Higgo, thanks for joining us today. What is your take on what is currently going on in the global markets, and how should anyone navigate these uncertain times to find the right opportunities?
HIGGO VAN BILJON: Yeah, its crazy times. There are a few reasons why we are seeing what were seeing. Some of the reasons include fears of inflation, and we are seeing that inflation fears and uncertainty on interest rate hikes, uncertainty of geopolitical risks, uncertainty of recession. So there are so many contexts. Usually when we see that, there are red days in the market and weve seen various consecutive red days, especially in the US market. And this is where I usually tell myself that when we invest in the stock market its important to know your plan and stick to your plan, and know that this is a long-term game. Investing should not be a speculative day-to-day thing, otherwise youre a trader. So, know your plan, stick to your plan, and think long term.
JEANETTE CLARK: What advice would you have for investors who want to take control of their financial lives, and also have the appetite and risk profile to invest? Where do they find the insights and information required to make the right decisions?
HIGGO VAN BILJON: There are different appetites in the market. Some people prefer doing it themselves. Some people prefer giving their money to a financial advisor, or maybe investing in a low-risk index funds.
For me, make sure you have a plan and stick to that plan. Once you have that plan, stay in control of your emotions, look at history, look at all the charts [to see] what happened previously.
You know, if you look at the entire [JSE] All Share Index market, weve been through wars, weve been through recessions, weve been through bubble pops, and still the market goes up over the long term if you have high-quality investments and if you stick to [your] plan.
Its also important to know your time frame, thinking long term and not short term, and sticking to your high-conviction investments, because you need to be able to back yourself that youve done your research to stick to that long-term investment thesis.
One of the places and thats what we are addressing at FinMeUp is giving the retail investor, the entrepreneurs and the hustlers, the necessary resources and information and education to make the best possible decisions in their investment lives. So we provide research, we provide the news, the information, all of that.
But it all boils down to personal belief and personal preferences when it comes to risk management, as everyone has different [approaches]. But its important to know your plan.
JEANETTE CLARK: So if you dont have that personal conviction in whatever youve chosen, is that when you then run the risk of the classic knee-jerk [reaction] when we then do see a black swan on the horizon?
HIGGO VAN BILJON: The thing is, when you dont have that plan and if you dont have the conviction, and if you havent done the research or learn[t] from other people, or have various sources of information, you are likely to be emotional and make emotional decisions. Even in my own life, emotional decisions with investing and finances usually lead to regret. So its important to know why you buy something when you buy or invest, and to know what your plan is.
you need to be able to ask yourself, if the stock market falls 20%, would you be fine? Usually when people invest their emergency savings, for example, it can end in regret. Theres a quote that says if you have trouble imagining a 20% loss in the stock market, you shouldnt be in stocks. That is just on the stock market, but there [are] so many asset classes that you can consider low risk, high risk, medium risk.
We cover all of those on the FinMeUp app itself, but its important to obviously [know] your risk level and know that shares and investments go up and down. But if you look at the long term, it goes up if you are in high-quality investments. Its all about knowing your conviction and doing your own research and making sure that you know your plan, once again.
JEANETTE CLARK: Is the question When is it a good time to buy? a relevant question, or is it actually always a good time to buy? Does it just depend on your goal, risk profile, choice of investment or stock?
HIGGO VAN BILJON: I actually had a question yesterday from a friend who asked me how low the US markets will go before he should buy. You cant answer that, because nobody knows when [its] the bottom or the top of any share price. The strategy I use is dollar-cost average. But its important to note that not all falling knives are good opportunities. That is where high conviction comes in. So, if youve done your research on a specific company, and you are committed for the long term because of various strategies and various reasons, and belief in the management and the vision and all of that, then if its at a lower price think of it like Warren Buffett. If its, lets say, bread; if bread is R20 and it falls R12 then its a bargain. You can buy it at a sale. The same with a farm. If you invest in a farm and nothing in the farm has changed, none of the fundamentals have changed and you get it for 20% less, it actually makes it a bargain.
So I use the strategy of where its something I believe in and it falls, I buy as it goes down not all at once because a low can even go lower. So, its [about] sticking to your high-conviction investments.
JEANETTE CLARK: And where should investors turn to find long-term winners, and what exactly is long term? People have different views on that.
HIGGO VAN BILJON: I view long term as five to 10years, or five to 10years-plus. It can even go longer, because [with] anything shorter than that theres obviously going to be volatility. There are uncertain factors, there are black-swan events. So many things can happen, [whether] good or bad, that I see it as fiveyears-plus. If you look at ETFs [exchange-traded funds] over the five-year time horizon you usually do well. It sometimes even outperforms some index or fund managers. So thats my take on that.
JEANETTE CLARK: Youve mentioned a little bit about what FinMeUp does, but can you tell us a little bit more about the FinMeUp app, and how you curate the content on the app? You mentioned that you have to look at a range of voices when you are gathering information to make investment decisions, so how do you curate the content that you then offer on the app for investors?
HIGGO VAN BILJON: FinMeUp is curated in the form of various industry experts creating content on the FinMeUp app. So, before a mentor is accepted on the FinMeUp app to create content various forms of content, videos, podcasts, stock picks, or just normal notes and blogs we first go through a vetting process, making sure that the mentor is vetted and that the content that they will produce is high quality.
Its not like Twitter, where anybody can just post, for example. They have to be industry experts that will contribute value to the FinMeUp platform.
And its various forms of content, as I just mentioned, but its specifically for the retail investor that wants to get an extra bit of research.
So some of our mentors take many, many hours to research one company and they post in a very simplified format on the FinMeUp app.
For example, for US Tesla shares, or in South African Shoprite shares, theres likely to be a research note on one of the companies you are watch-listing, and every day theres more and more content. Theres also daily information, but only the highlighted information.
So back to the curation aspect. If you go on the internet or on YouTube or news channels, theres so much content; so we focus on only providing our users with the relevant content that they need to know to stay updated and informed about the daily happenings as well so when directors of companies are buying or selling big portions, or when a company releases new results. Because, if you are investing in individual stocks, it is important to stay updated with the various companies that you follow, and also get research from other people than just yourself, because sometimes we can miss some information.
JEANETTE CLARK: And could you share some numbers? How many users do you have at the moment?
HIGGO VAN BILJON: FinMeUp is extremely community-focused. We have a community off-app as well, which is around 50000 now. But on the app, the new app launched three weeks ago, we currently have around 5000 app users, and thats growing by the day. The more the users grow, the more mentors we add, the better the platform gets.
But for us its all about creating value in everyones financial life on the app. As I said previously, our mission is to get a way to financial independence for our community, and all the decisions we make on a daily basis are to do exactly that.
JEANETTE CLARK: All the data in the world will not help investors make good decisions unless it is distilled into insights. So, whether you are comfortable picking stocks and funds on your own, or you would like to follow the guidance of an investment specialist, the fact remains that it has been proven better to do in-depth and proper research before investing, and then investing for the long term.
That was Higgo van Biljon, founder and CEO of the financial education app FinMeUp.
Brought to you by FinMeUp.
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.
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