Category Archives: Gambling

Blockchain technology is emerging as a game-changer in a widevariety of markets. As we explained in our prior post, Understanding the Intellectual Property Value ofNFTs, blockchain technology is the basis for creatingnon-fungible tokens, or NFTs, which have experienced astoundinggrowth in areas ranging from art to music to video games. Thisarticle discusses how cryptocurrency and blockchain technology arepotentially disruptive technologies for the online gamblingindustry.

In its simplest terms, blockchain is a decentralized, digitalrecord of all the transactions that take place using digitalassets. It is a database that stores encrypted blocks of datachained together to form a single chronological ledger oftransactions. In many cases, the data is distributed to create animmutable record of the asset's history that is accessible tothe public. The overall purpose of blockchain is to "letpeople-in particular, people who don't trust one another-sharevaluable data in a secure, tamperproof way."1

Blockchain set the table for the emergence of cryptocurrencies,which are decentralized digital assets that leverage blockchaintechnology to ensure security and prohibit double-spending. Whilecryptocurrency first emerged years ago, the recent wide-spreadpublic adoption has driven its growth. Many industries havebenefitted from the convenience and access that cryptocurrenciesprovide through user-to-user payment systems. The $60 billiononline gambling industry is particularly well-suited to capitalizeon the trend.2

The gambling industry has already embraced digital paymentmethods.3 Blockchain and cryptocurrencies can greatlyexpand this trend. As we explain, this technology can advancemission-critical objectives of the online gambling industry,including the security, validity, anonymity, and cost-efficiency ofthe industry's core transactions.

Blockchain technology in online gambling provides an added layerof protection for users because the databases record alltransactions and store the information in a decentralized ledger.This technology prevents the prevents the illegal trading ofdigital assets and reduces the risk of both hacking and paymentduplication.

Data privacy is a concern for many online gambling users becausewebsites commonly require them to disclose personal information,which creates hesitation among individuals who worry about how andwhere their data will be stored. Cryptocurrencies provide anopportunity for websites to eschew requests for detailedinformation because transfers of cryptocurrency are immediatelyvalidated by the public blockchain. This protection of userinformation further reduces the risk that personal data will becompromised.4

Relatedly, crypto-accepting gambling websites can provide userswith a streamlined registration process because of their ability tooperate without unnecessary personal information.5 As aresult, these crypto-friendly websites may be better positionedthan their non-crypto-accepting competitors to attract potentialusers, who can begin playing immediately upon providing only anemail address and a username.

Blockchain technology and cryptocurrency in the gamblingindustry also provides efficiency through instantaneous transfers.When online gamblers deposit cryptocurrency into a gamblingplatform, they do not need to wait for a bank or third-partycompany to verify the decentralized transactions, which are notcurrently controlled by a central authority. Instead, theblockchain immediately verifies the transaction and the platformlearns instantly whether it is valid.6

The decentralized nature of cryptocurrencies also makes themmore cost-effective than other sources of payment like credit cardsor bank transfers. Many cryptocurrencies-including Bitcoin-have nohidden transaction fees. Utilizing this form of payment benefitsboth the user and the platform, who avoid incurring costsaccompanied by traditional payment methods.

Overall, while blockchain technology and cryptocurrencies arenot new, the gambling industry is in its infancy in terms of marketadoption and implementation. Market participants will continue todrive the wide-spread adoption of the crypto asset class, which inturn will result in a broader use of blockchain technology anddifferent methods of utilization that can advance the gamblingindustry considerably. Of course, these benefits do not comewithout challenges, both technical and regulatory. Stay tuned forour follow-up article regarding the regulatory challenges theonline gambling industry will face as it inevitably moves towardsblockchain and cryptocurrencies.

Footnotes

1 Mike Orcutt, How Secure is Blockchain Really?,MIT Technology Review (Apr. 25, 2018), available athttps://www.technologyreview.com/2018/04/25/143246/how-secure-is-blockchain-really/.

2 Online Gambling Market Size, Grand ViewResearch (Apr. 2020), available athttps://www.grandviewresearch.com/industry-analysis/online-gambling-market.

3 Emerging companies like Cash2Go, for example,structured their business product behind the thesis that digitalpayment solutions would be a driver in the industry. Furtherinformation on Cash2Go is available athttps://cash2gocard.com/.

4 The Future of Blockchain Technology in the GamblingIndustry, Chipin, available athttps://www.chipin.com/future-blockchain-technology-gambling-industry/.

5 Anonymous Gambling in Bitcoin Casinos,CoinGambling, available athttps://coingambling.info/news/anonymous-gambling-in-bitcoin-casinos/

6 The Future of Cryptocurrency in OnlineGambling, BlockchainNews (June 11, 2021), available athttps://www.the-blockchain.com/2021/06/11/the-future-of-cryptocurrency-in-online-gambling/.

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

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Blockchain And Cryptocurrency: The Future Of Online Gambling? - Technology - United States - Mondaq News Alerts

Its The Basketball Tournament (TBT) Saturday and there is a full slate of games to keep you thoroughly entertained. Saturdays action is headlined by popular teams like House of Paign and Boeheims Army. Lets look at the TBT picks for Saturday, July 24th, and some teams to watch.

Boeheims Army was the talk of the offseason after adding Overseas Elite players D.J. Kennedy and DeAndre Kane. This adds them to a roster with Syracuse legends Tyler Lydon and Chris McCullough, and former Boston College alum Tyrese Rice. This feels like this is the year that the Syracuse alumni team can finally reach the TBT mountaintop.

On the other hand, you have first-year TBT entrant Forces of Seoul. Comprised players that played South Korean ball, they have a lot of size and a number of guys with NBA and G-League experience. Vernon Macklin was the 52nd overall pick in the NBA draft by the Detroit Pistons. They also have former Arizona State guard Torian Graham who averaged 18 points with the Sun Devils.

This Forces of Seoul team has a lot of playmakers and could actually make this a sneaky good game. I still expect Boeheims Army to make a late run and pull away to get a nice cover.

The Pick: Boeheims Army -9.5

This should be an authentic game between two ACC rival alumni teams. Both are first-year entrants into the tournament and whichever team can gel the quickest is going to have the edge in this one.

Wolf Blood is led by former NBA player CJ Williams and NC State standout Trevor Lacey. Scott Wood, Desmond Lee, and Terry Henderson will supply some heavy-hitting offensive that can help this Wolf Blood team run up the score.

Category 5 has a former NBA player of their own in Davon Reed. Also led by TBT vet Rion Brown, the Miami alumni team has the pieces to be able to compete against Wolf Blood. I do not expect either team to give up much, however, I am still giving a slight edge to Wolf Blood.

The Pick: Wolf Blood -1.5

House of Paign made an electric entrance into the TBT last year after knocking off the previous years champion in Carmens Crew. Mike Daum absolutely looked the part as one of the best players in the whole tournament. There is not any reason that we should not expect a lot of the same.

However, in the first round, they are getting the Jackson TN Underdawgs who are not going to be an easy out. This is a veteran TBT team who made a quarterfinal run in 2019. They have a number of key playmakers in the backcourt that all have the experience of playing in this tournament. While I do not think they have anybody that will be able to contain Mike Daum, I do think that they can have enough scorers that they can keep up with House of Paigns offense. Jackson TN could provide one of the bigger surprise covers and stands out among the TBT picks for July 24.

The Pick: Jackson TN Underdawgs +9.5

Red Scare is definitely a strong team that has the potential to make another deep run into the tournament. This team is a mix of the 2013 Elite Eight Dayton team and the 2020 team that so many people were extremely high on pre-COVID. Veterans Darrell Davis and Devin Oliver are looking to usher this group into an opportunity to play in front of their home crowd in the TBT Championship rounds.

However, they have a tall task ahead of them in an upstart team filled will players from BC Vahakni Citys championship roster this past year. Darious Clark leads this new team into the tournament looking to continue the momentum from their play in the Armenian A-League.

I do not doubt that Red Scare can win this game, but 8.5 is a hard number to lay with the history that the players of this BC Vahakni City team. They have four members of that championship roster playing in the TBT and I expect them to keep it tight with Red Scare and give us a sneaky good game.

The Pick: BC Vahakni City +8.5

The Overlooked come in as a highly touted first-year entrant into the tournament. The Murray State alumni team is led by former NBA player Isaiah Canaan, who has the ability to pull up from anywhere on the court. They also have a former conference defensive player of the year in Shaq Buchanan that will be able to wreak havoc on the other side of the ball.

Team Heartfire returns to the tournament after an unsuccessful first experience in the TBT bubble. They have former NBA Draft pick Branden Dawson who looks to lead the charge after his former Michigan State teammate Brandon Wood had to step away after signing a professional contract. This team has a lot of size with three players that stand over 610 in height.

This should be a very gritty game as both teams have a defensive edge to them. I will take the points with Team Heartfire, but I will not be surprised if this game comes down to the last possession in the Elam Ending.

The Pick: Team Heartfire +3.5

This matchup will pit another pair of first-year entrants against each other. Blue Collar U is a Buffalo alumni team that was able to put together a couple of NCAA tournament runs. And the Nerd Team is comprised of players from high academic institutions that can also hoop.

The Nerd Team has a European standout in John DiBartolomeo that I fully expect to make a name for himself in this tournament. However, my concern for this new team is that they are just pieced together and have not yet built the chemistry that Blue Collar U should have. The Buffalo alumni team shares members from three years of MAC tournament championships. I give the edge to Blue Collar U to keep it larger than a possession. The UB alumni should pick up a big TBT win here and cover a narrow spread as far as picks go for July 24.

The Pick: Blue Collar U -2.5

Not only is this a game between two TBT veteran teams, but they also both have ties to the region. This should be an electric matchup with neither side wanting to give in front of the home crowd.

Chicago Hoopville Warriors have always been a tough, gritty team in the TBT that has not been easy to put down all the time. They were a late entry into this years field with the withdrawal of Tubby Time, but they still should have the same chip on their shoulders.

This will be Always a Brave first TBT in two years. Former NBA lottery pick Patrick OBryant will be a dominating force inside that the Hoopville Warriors do not have anybody that will be able to challenge him. OBryant also has the ability to step outside and shoot which should give this Chicago team problems. Always a Brave has a strong pedigree in the tournament and should be able to pull this out by two possessions.

The Pick: Always a Brave -4.5

The last game of the day should be a good one between another pair of alumni squads. Zip Em Up, the Xavier alumni team has a former NBA player in Trevon Bluiett. Blueitt is a sharpshooter from three and is a career 2,000-point scoring for Xavier. Joining him in the backcourt is another sharpshooter in J.P. Macura who also spent time in the NBA.

Ohio 1804 will hope to have some of the Columbus crowd on their side as they make their first entrance into the TBT. They bring back Stevie Taylor who was a part of the Bobcats 2012 Sweet 16 NCAA tournament run. They also recruited Jordan Barham who was a double-digit scorer for the Davidson Wildcats. And they will need all of it to keep up with this Xavier team.

Ultimately, I feel Zip Em Ups scoring will be too much for Ohio 1804 to handle. Zip Em Up should close out the July 24 slate by covering one of the larger TBT spreads among all these picks.

The Pick: Zip Em Up -7.5

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TBT Daily Odds and Picks July 24 - The Sports Gambling Podcast

The Olympic Games begins in Tokyo on Friday, just as Covid-19 blights the city for the fourth time and a year after the Games were originally scheduled to begin.

Despite the latest alarming spike in coronavirus infections and hospitalisations across the citys metropolitan area, Japans prime minister, Yoshihide Suga, has reiterated his resolve to go ahead with the Games, declaring at a session of the International Olympic Committee held on 20 July that the Games can be held successfully, with the efforts and wisdom of the people.

But many Japanese either disbelieve him or take his words with a pinch of salt. For one, many people are tired of hearing Sugas overblown rhetoric stressing the Games significance. He has, for example, previously said more than once that the Olympics will be held as proof that humanity has defeated the novel coronavirus.

Despite the pronouncements, Sugas administration has had a hard time dealing with the coronavirus. The more infection cases rise, the more Sugas disapproval ratings rise also. A national Asahi-Shimbun poll found his disapproval rate climbed to 49% on 17 and 18 July, the highest since the formation of his cabinet in September 2020. Correspondingly, his approval rating dropped to 31% close to the 30% danger zone political observers see as an indicator of imminent government change.

One big question arises. Why has Suga pushed so hard for his plans to host the Tokyo Olympics and Paralympics while the pandemic rages, and even as his approval ratings plummet? The short answer: this is a political gamble.

Suga is counting on the Tokyo Olympics to boost his approval rating ahead of the general election for the lower house and the Liberal Democratic partys election for presidential leader, both of which will be held this autumn. Suga hopes public enthusiasm for the Games will reach fever pitch as Japanese athletes start getting gold medals.

His optimism, however, is not shared by some in his cabinet. In terms of national security, I dont see any cause to hold the Olympics at all as we face a national crisis now, one of Sugas vice-ministers told me, adding that the real problem with the Games was the question of its finance and the egotistical desire of the Suga administration to be able to say we made the Games a success ahead of the elections.

Nobody is sure how successful the Tokyo Olympics can be, not least in the face of the virulent Delta variant. Tokyo 2021 could become a super-spreading event. Suga is taking a dangerous political gamble, and gambling, too, with the health and lives of the people of Tokyo and Japan, as well as the tens of thousands who will travel to the Games.

The gamble so far looks like it might not pay off. The great majority of Japanese people have a very cynical view of the Games. In another Asahi Shimbun survey, 55% were opposed to holding the Olympics with just 33% in support of it. In addition, 68% said they do not believe Sugas pledge that the Olympics will be safe and secure. Only 21% said they felt it could be.

This lack of enthusiasm is built on a series of Olympics scandals being brought to light. After Britains Zaha Hadid Architects won the competition to build Tokyos new National Stadium, her design was scrapped over ballooning costs in July 2015. The official logo for the Games was also scrapped in September 2015 after weeks of plagiarism allegations called the work of its designer Kenjiro Sano into disrepute. In 2019, Tsunekazu Takeda resigned as president of the Japanese Olympic Committee (JOC), following bribery allegations linked to the successful bid for the Games. And Yoshiro Mori, a former prime minister and then-president of the Tokyo Olympics organising committee, resigned in February 2021, following backlash over sexist comments suggesting, among other things, that women talk too much in meetings. Most recently, Kentaro Kobayashi, the opening ceremony director, was dismissed the day before the ceremony due to a Holocaust joke he made during a comedy show in 1998. Both Japanese and foreign media have reported that the Tokyo Olympics are cursed.

The Games skyrocketing price tag has also diminished public support for the event, which has now reached more than 3tn yen (20bn) and will become the most expensive Summer Olympics in history. Japans government debt stands at 266% of GDP the highest in the world and twice that of the US. Many fear the cost of implementing coronavirus countermeasures to ensure the Games are safe will add to a growing national deficit. Over more than a decade, Japan has spent hundreds of trillions of yen to stimulate the economy and overcome three major national crises: the 2008 Lehman shock, the 2011 Tohoku earthquake and tsunami and the ongoing Covid-19 pandemic.

Another big reason why many Japanese are against the Games is that Japan is lagging significantly behind numerous other countries in vaccinating its population, which is the oldest in the world. Many feel strongly that the Japanese government should put its efforts into the vaccine rollout, instead of the Olympics. As of 22 July, Japan ranks 69th in the world for those whove received two vaccines, with just 23.3% of the total population fully vaccinated.

The country has simply failed to strategically prepare for the Games in terms of vaccine rollout and infection control. Instead, over the past year, Suga has sung the Games praises while overlooking the imperative, taken more seriously in many other countries, to vaccinate the people hes charged with governing. Now, Japan must learn its lessons from the bitter experience of the Tokyo Olympics, and in doing so hopefully the nations body politic can heal.

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By holding the Tokyo Olympics, Japans government is gambling with peoples lives - The Guardian

The new Skate teaser trailer arrived this week, giving us a glimpse at people reacting to the game off-screen alongside some impressive mo-cap work. This in and of itself is still exciting, proof that a new Skate is definitely happening, and self-aware enough to temper expectations by asking fans at the end to roll with us. But it also represents EA heading back to the roulette table, hedging their bets that showing a game early in development is better than letting fans get impatient.

It's a move that brings no end of potential risks, but carries a potentially significant upside. While showing tease after tease may frustrate fans over a number of years, it does broaden the understanding of what actually goes into game development. Instead of players seeing a game announced and expecting to play it within 6 to 12 months, showcasing the development journey is arguably giving fans a better idea of just how demanding and challenging a game can be to make. Who knows, it may even give some players a great appreciation of the final product.

This is a gamble EA has been making for some time now. In fact, we've seen them show off Dragon Age 4 in a teaser trailer and concept art over the past 2 years, Battlefield 2042 was first revealed in EA Play last year with a look at one very expressive soldier, and we know that another Mass Effect is coming thanks to a Bioware blog post. As EA Play Live continues to grow as a showcase of the people behind EA's games as seen from the recent series of interviews in the run-up to their showcase it feels like EA are also trying to highlight what goes into creating a game too.

The caveat to all of this is simple: do players want that? Dragon Age fans are currently getting a constant drip-feed of animated trailers, CGI renders, and concept art teases to get them excited for the next game in the series, but at no point have they actually seen the thing. While this might mirror the fluid nature of game development where concepts and designs will be pitched, scrapped, reworked, and might not even make the final game it also means that players are left no closer to know what to expect from Dragon Age 4 than they were before it was first teased at the 2018 Game Awards.

There's also the fact that this approach is still marketing. Naturally, EA won't be keen on showing you the negatives of games development, which then risks creating a false impression of what it actually means to make a game. And, let's say a game does end up going in a different direction to the one that EA has spent months, or even years teasing, then players are left to fill in the blanks about what happened. It could lead to unnecessary confusion or becoming Twitter's focus for the day a fate I wouldn't wish on anyone.

Now, none of this isn't to say that Skate isn't going to absolutely shred. I can't wait to see what a new Skate game will look and play like when it's ready, and I was sold the second I saw a quick glimpse of Noah Lennox (aka Panda Bear from Animal Collective, whose Summertime Clothes is the best song on the Skate 3 soundtrack, no further questions) in the trailer. Still, the waiting game is one most people would rather not play, and with EA regularly drawing it out for its big hitters, it's long-term teasing could leave fans irritated rather than excited.

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Skate tease shows that EA will keep gambling on showing games early - Gamesradar

The American king and queen of gambling destinations are Las Vegas and Atlantic City, which rake in nearly $10 billion a year in gross gaming revenue, according to the American Gaming Association.

But gambling wealth does not necessarily translate into prosperity for all.

Gambling activities and public education funding are often linked an ideal way to use gaming and lottery revenues for schools in states including Florida, which is set to gain billions if a gambling pact with the Seminole Tribe of Florida is approved by the federal government.

But the reality is that gambling revenue can be spent however lawmakers want to spend it, unless its tightly tethered to commitments in statute or in a states Constitution.

Legislators can budget gambling revenues for education, or infrastructure such as road and sewer improvements, or environmental protection, or tax cuts, or to pad state savings, to name a few options.

Republican leaders who control the Florida Legislature have not announced how they expect Floridas new gambling revenue to be allocated.

But Democrats have been clear that they want the money to broadly benefit Florida citizens through better services such as improved health care, more access to mental health treatment, higher wages, and assistance to small businesses.

The House Democratic Caucus compiled a list of priorities for allocating the revenue at the start of the legislative special session on gambling in mid-May. At the top is expansion of Medicaid, to provide health-care coverage for low-income people who dont qualify for Medicaid as currently configured in Florida.

Broward-Dade Democratic Rep. Joe Geller told the Phoenix he thinks Republicans are disinclined to spend the money in those ways. He pointed to what he considers a relevant missed opportunity in the regular legislative session this spring to broadly invest $1 billion in new revenue from internet sales taxes.

Collecting those taxes for the first time generates a windfall that could have been used for many purposes. Geller was disappointed that Republican leaders chose to use it exclusively to prevent an automatic increase in payroll taxes paid, mainly, by large corporations.

Geller doesnt want to see that done again, with Floridas new gambling revenue.

What we dont need is more tax breaks for rich guys and the big corporations that they own, Geller said in a June interview.

Rep. Randy Fine, a Brevard County Republican who helped broker the gambling compact, told the Phoenix that revenue derived from the gambling compact and related legislation would simply go into Floridas general fund, where the majority of lawmakers will allocate it as they see fit at the time.

These are all political questions

A Nevada Republican senator who heads the National Council of Legislators from Gaming States said various states use their gambling revenue in a variety of ways, for better or for worse, mostly depending on the states prevailing politics.

There is no other pattern to it, said Nevada state Sen. Keith Pickard in an interview Friday.

The states are all over the map on this, Pickard said. These are all political questions.

For example, while many people associate gambling tax revenue with enhancements in public education funding, it doesnt necessarily pan out that way.

From the wealth generated in Americas top two gambling cities, funding for public education in Pickards home state Nevada is near the bottom and in the other New Jersey is near the top, according to an April report by the National Education Association, a nationwide teacher union. Based on estimates in 2020-21, New Jersey spent $22,337 per student in its public schools. Nevada spent $10,237.

Nevada does not earmark how gambling revenue is to be used.

State Sen. Pickard represents part of Clark County, which includes Las Vegas. He believes Clark County schools are woefully underfunded, despite the billions of dollars wagered and spent in nearby casinos and resorts. Critics such as the local teachers union say the gambling operations pay too little in taxes.

Florida Education Champions

In addition to Floridas gambling pact involving the Seminole Tribe, big-money organizations are looking to expand gambling in the state through Constitutional amendments, which, if approved by voters, could bring billions more into the states coffers.

In June alone, out-of-state gambling corporations donated $52 million to bankroll proposed constitutional amendments to legalize their operations in Florida. And the Seminole Tribe of Florida donated $10 million to a political action committee to fight those amendments. If the efforts gain the requisite signatures, nearly 1 million, they can appear on the 2022 ballot.

One of the amendments, to legalize mobile sports betting statewide, is titled Florida Education Champions because it purports to dedicate the sports-betting tax revenue to educational enhancements.

Nevada Sen. Pickard said a common problem with ballot initiatives and legislation is that while it sounds good to voters to earmark funding for particular causes, it is harder to make the revenue impervious to being raided or supplanted (reducing traditional funding sources, knowing that mandated funds can replace them).

He cited recent Nevada legislation to tie taxes on legalized marijuana to increases in school funding. Good idea, maybe, but only a fraction of the revenue is actually landing in education programs, Pickard said.

It was all to go to education, but the drafters didnt really understand the budget process, he explained.

Meanwhile, he said, the Clark County Education Association, a teachers union, proposed two citizen initiatives to amend the Nevada Constitution in support of K-12 funding: one to increase sales taxes by 1.5 percent and another to raise tax rates on gaming by 3 percent.

Ultimately, the union helped broker a state-approved increase in mining taxes instead, leaving the gambling tax rate in the nations richest gambling mecca unchanged.

What lies ahead?

No matter how you look at it, new revenue is coming to Florida tax coffers from gambling, for the first time since the Seminole Tribe halted revenue-sharing payments in 2019 due to a dispute over terms of its 2010 compact with the state.

Florida Republicans including Senate President Wilton Simpson, House Speaker Chris Sprowls, House Appropriations Chair Jay Trumbull, and Senate Appropriations Chair Kelli Stargel did not provide comments about how they want to see the new gambling revenue spent, though the Phoenix made multiple requests.

In Nevada, Sen. Pickard said his role in the National Council of Legislators of Gaming States has shown him the best course in developing a gambling economy is a slow, deliberative one.

He urged state governments to study and learn from the models and mistakes of old gambling veterans such as Nevada and New Jersey. He also cautioned that sufficient funds need to be set aside for enforcing gambling laws and for helping compulsive gamblers avoid financial ruin.

Take it slow. Have a good regulatory structure, Pickard said. Otherwise, it really depends on the political process the political process is disingenuous by definition.

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FL and other states are set to rake in new gambling revenue; who will benefit? - Florida Phoenix

There are a lot of misconceptions about gambling. Some misconceptions arise as a result of a lack of understanding. Others have been repeated so many times by anti-gambling activists that they have become regarded as fact. There are many myths about online gambling especially, and some of them are so commonly accepted that they prevent individuals from betting and gambling online.

We believe it is unfortunate that some people choose not to take advantage of all that online gambling has to offer for the wrong reasons. There are certainly good reasons why it isnt right for everyone, but no one should miss out because their heads are full with concepts that arent right for them.

You just have to trust the process. Finally, wed like to point out that not all information found on the internet is accurate. Make sure to check the facts before jumping to any conclusions concerning real dangers in online casinos. In Sweden, 90% of online casinos are legal because of the valid licensing.

You can gamble online with confidence at a reputable casino with a legal operating license in Sweden. Swedes love online gambling as they can gamble online with the ease of being home. You can play games like bingo online or blackjack without even leaving your house. Sweden being one of the most popular countries in gambling, you have real good chances to win if you play strategically.

Here are some gambling myths debunked by Amy Martinsson who is a gambling expert with more than five years of experience.

This is without a doubt one of the most common online gambling myths. The truth is that there is no law that specifically prohibits any form of online gambling in Sweden. There is a lot of associated legislation, and a lot of it isnt very clear, but its largely aimed at the people and companies who facilitate online gambling without an appropriate license.

Operators of gambling sites or financial institutions that conduct gambling-related transactions fall under this category. In most places of the world, it is unlawful to launch and operate a gambling site without the necessary licenses. However, we are not aware of any jurisdictions where using a gambling site is a crime. Hence, Online gambling is legal until it is licensed by an apt authority.

Many individuals used traditional casinos before online casinos first came into the market, and they struggled to promote their services to casino players. As a result, they devised the strategy of offering incentives to entice some gamers to use their service. These deposit bonuses can double or triple your money, and if you deposit a lot, you can get high roller bonuses that will multiply your money by ten.

Depending on the size of the business and the market, each casino website has its unique set of incentives and promotions. Those incentives are real, and they have helped some players win real money. But before making any bonus payments, make sure to read the terms and conditions, which contain vital information such as wagering requirements.

Another common misconception is that casino websites admit individuals who are under the legal age of gambling. This isnt entirely accurate. For a variety of reasons, any reputable casino website takes user identification verification seriously.

They will ask you to verify your age and that you are the cardholder before allowing you to make a deposit and begin gambling. As a result, anyone under the age of 18 will be unable to play real money online casino games.

Online gambling is identical to any other type of gambling and especially the traditional gambling methods. If you dont know when to quit, it can be harmful. However, there is no proof that online gambling is more addicting than conventional forms of gambling.

Apart from that, casino websites take addictions very seriously and make every effort to protect their customers. Players can set a daily or monthly budget for themselves on casino websites.

Naturally, this is a myth, as many online casino gamblers win large sums of money on a daily basis. There are several stories online about people who have won the jackpot and become wealthy simply by playing online slots. Recently, a tourist from Alaska recently won over $2 million on a Cosmopolitan of Las Vegas slot machine after only investing $40.

Gambling can be a total game changer for anyone! Any reputable gambling site can help you earn real money. Simply read the terms and conditions before withdrawing your winnings from online casinos.

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Pay Attention To The Myths About Online Gambling: Which Ones Are Not True, But Which Ones Are Real? - South Florida Caribbean News

Twitch needs to better regulate gambling content on their platform, or remove it entirely

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Bangkok, Thailand June 10, 2019 : iPhone 7 showing its screen with Netflix and other video streaming applications.

Twitch saw an explosive period of growth over the last twelve months as a result of the lockdown brought on by the outbreak of COVID-19. But a recent controversy over gambling shows the problems that come with this new increased viewership.

Twitch has allowed gambling to flourish on the site. Considering the viewership of Twitch includes a large number of children, the company needs to take action and ban these streams from the platform.

Twitch has had a gambling scene for some time. However, it has been blown into the spotlight over the past few months, and the debate over it has turned streamers against one another. Big Twitch streamers have been indulging in the gambling scene as of late, such as Flix Lengyel, known as xQc on the platform, and Tyler Nikam, known as Trainwrecks.

Because many of the viewers who watch these channels are young and easily influenced, they are drawn into gambling by watching these streamers participate. Knowing that 41 percent of Twitch viewers are between the ages of 16 to 24, the problem becomes the fact that these are highly impressionable children who, by their very nature, are prone to get addicted.

They are not fully mentally matured to exhibit even the slightest form of self-control or restraint. If there was a perfect age group for gambling sites to target, its them.

In a review of 140 different studies on gambling and its effects, the National Council on Problem Gaming found an astounding 75 percent of students surveyed in 2018 had gambled by that point.

Twitch can stop this problem very easily by banning any demonstration or form of gambling from their platform outright. It claims to take the responsibility of monitoring content very seriously and does not hesitate to uphold its terms of service guidelines. It bans certain types of content from its platform, as well.

But when it comes to gambling, knowing full well many of its users are susceptible to its allure very easily, its stance is nothing short of pathetic. The only thing Twitch says on its website under its community guidelines in regards to controversies such as this is that users and streamers are required to, respect all applicable local, national, and international laws while using [Twitch] services. Any content or activity featuring, encouraging, offering, or soliciting illegal activity is prohibited.

While this is not surprising coming from a corporate entity like Twitch, which is owned by Amazon, this language is infuriating and only cements that they do not care about the effects gambling can have on young, impressionable viewers. The subject of moderating content in aspects of streaming is open ended, but allowing streams of people gambling, knowing full well young viewers could take away from it gambling is fun, why dont I try it with Moms credit card, is dangerous.

Gambling laws exist for a reason. There is a reason why those under a certain age are banned from partaking in any form of it. It is well known that children and even young adults are especially susceptible to the addiction of gambling, and the adrenaline brought on by the game of chance. If Twitch does not find a way to moderate or outright ban gambling content from the platform, consequences would be dire for everyone involved.

Columns reflect the opinions of the authors and are not necessarily those of the Editorial Board, The Daily Iowan, or other organizations in which the author may be involved.

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Opinion | Twitch needs to ban gambling from its website - UI The Daily Iowan

LINN COUNTY, Iowa (KWWL) A resolution approved by the Linn County Board of Supervisors will allow voters to decide on Nov. 2, 2021, whether to reallow gambling games in the county.

The state statute says this measure must be voted on, approved twice and eight years passed between the two votes to have gambling in Linn County permanently. Voters first approved a gambling vote in 2013.

The November vote will be yes/no to allow gambling facilities in Linn County. The vote does not mean a casino will be created in Linn County. Approval of a specific gambling facility in the county has more requirements, including an application and approval by the Iowa Racing and Gaming Commission.

Recently, Cedar Rapids Mayor Brad Hart and mayoral candidate Tiffany O'Donnell have both voiced their support for a casino in Cedar Rapids. O'Donnell says it would create a vibrant and diverse downtown, more high-paying jobs, and a new revenue stream for City services and area non-profits. Hart also agrees that it would provide another entertainment option, draw attraction, and create jobs.

However, if a casino is to be built in the county, Hart says the city doesn't get to choose the location.

RELATED: Mayoral candidate Tiffany O'Donnell announces her support for Cedar Rapids casino

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Gambling in Linn County on the 2021 November ballot - kwwl.com

The Iowa Racing and Gaming Commission has hired two companies to do socio-economic studies of the gambling industry.

Racing and Gaming administrator, Brian Ohorilko says they will take a look at several social issues. Does it increase bankruptcies, divorce rates, crime rates? That is the socio-economic piece that will be studied as part of this, he says. The other piece is a market component that looks at the overall health of the industry.

Ohorilko says the study is required by the legislature every eight years.Well look at both parts and really try to give Iowans a good view of how gambling is impacting our state, he says. Ohorilko says they decided a couple of different reviews was the best way to get the information.

The two companies that were selected, they both are independent companies, they do different things. The commission felt like it was important to get two separate opinions, according to Ohorilko.

Ohorilko says the two companies will present their findings at the IRGCs January meeting. The state will pay $245,000 for both studies.

The rest is here:

Studies will look into the impact of gambling on Iowa's economy, way of life - Radio Iowa

In a press release dated 12 July 2021, the Ministry of Home Affairs of Singapore (MHA) announced that it is seeking feedback from the public on certain proposed amendments to the existing gambling legislation. The proposed amendments seek to address two trends in the gambling landscape. First, advancements in technology relating to the internet and mobile computing that have made gambling products more accessible. Second, the blurring of boundaries between gambling and gaming and the introduction of gambling elements in products that are not traditionally perceived as gambling.

Currently, the definition of gambling differs across different pieces of gambling legislation in Singapore, depending on the gambling product.

The MHA proposes to broaden the definition of gambling to make it technology-neutral, so that it can cover existing and emerging gambling products. The MHA acknowledged that a wider definition may inadvertently cover products it has no intention of treating as gambling products, such as financial products already regulated by the Monetary Authority of Singapore through other legislation. To prevent this, the MHA stated that it will adopt the approach taken in other jurisdictions (e.g., United Kingdom, Australia, Switzerland, and Denmark) and carve out these products from the definition of gambling.

The MHA observed that mystery boxes are similar to lotteries, in particular those that promise high-value prizes that can easily be traded for cash. As the value of prizes increases, their potential to induce gambling behavior increases. It also observed that arcades have begun to offer high value to entice patrons. This trend, coupled with the fact that arcade games and claw machines can have elements of chance, is of concern as it brings the operation of these machines close to gambling. The MHA recognizes that such activities are considered a form of entertainment but has taken the view that safeguards need to be introduced to ensure that these activities do not induce gambling behavior and cause social problems.

To address the blurring boundaries between gambling and gaming, the MHA proposes to introduce a prize cap of $100 for mystery boxes, arcade games and claw machines. It is of the view that the cap will be sufficient to address the inducement effect of high-value prizes, without increasing the regulatory burden on operators.

The MHA observed that it is increasingly common for online and video games to incorporate in-game micro transactions (e.g., loot boxes) that can resemble gambling.

Currently, Singapore gaming laws and regulations do not consider games of chance with virtual prizes as gambling so long as there are no in-game monetisation facilities that allow players to exchange virtual prizes for real-world payouts (i.e., money, or items that can be exchanged for money). The MHA proposes to update existing laws and regulations to address virtual items that can be transferred out of the game, and potentially be exchanged for money or moneys worth on a third-party hosted exchange.

First, it proposes to introduce conditions to ensure that transferable virtual items are retained in the context of gameplay and entertainment, as intended by game developers. Online games of chance that allow players to use virtual items from other games as a form of stake on casino games or match outcomes, such as skin-betting sites, will not be allowed.

Second, it proposes to allow in-game monetisation facilities for free-to-play games (i.e., players do not have to pay to play or receive virtual prizes), subject to conditions similar to those imposed on currently-exempted business promotion lucky draws (which will remain exempted in the new legislation), such as:

While the above proposed changes expand the scope of Singapores existing gambling laws and regulations and increases the regulation of nontraditional gambling products such as mystery boxes, arcade games, and online games, the MHA is also proposing the relaxion of regulations in respect of social gambling.

The MHA recognizes that gambling among family and friends in homes is socially acceptable, and poses low law-and-order concerns. Hence, it proposes to exempt physical social gambling among family and friends, subject to conditions that safeguard against criminal exploitation. Social gambling among family and friends will be expressly permitted under legislation, subject to the satisfaction of certain criteria, such as:

The MHA warned that strong enforcement action against syndicates which exploit the proposed exemption to conduct illegal gambling activities. Online social gambling among family and friends remains prohibited under the Remote Gambling Act due to enforcement difficulties (e.g., the difficulty in establishing if individuals are sufficiently and meaningfully acquainted with each other in the online context to qualify as social gambling).

Finally, the MHA proposes to rationalise penalties across various gambling legislation. The Remote Gambling Act currently provides for a three-tier penalty structure for illegal online gambling, with the highest penalties imposed on operators, followed by agents and then punters. The MHA proposes to apply this differentiated penalty structure across all forms of gambling activity, so as to ensure consistency between online and physical gambling activities.

The MHA also proposes to raise penalties for repeat offenders who facilitate or operate illegal gambling services, to increase deterrence. The MHA however clarified that it is not proposing to raise the penalties for repeat offenders for punters of illegal gambling services for the time being as it intends to focus enforcement efforts on illegal gambling agents and operators.

The public is invited to submit feedback to MHA by 10 August 2021. Read the full report on the MHA's proposals.

The proposed amendments to existing gambling legislation in Singapore relating to the expanded definition of gambling and the increased regulation of games with gambling elements come as no surprise. The MHA had previously announced in April 2020 that it was looking into amending all gambling legislation by 2021 to ensure that its regulatory mechanisms can effectively address evolving gambling products and business models and had expressly mentioned the need for regulation of products such as mystery boxes. There has also been an increased focus in the media on the link between loot boxes and problem gambling.

Game developers and other stakeholders in the gaming industry may wish to consider whether any of the elements in the games that they develop, in particular the games in-game monetisation facilities and transferability of transferable virtual items, would run afoul of the proposed amendments to the law in their current proposed form, and to provide feedback to the MHA. They may also wish to seek greater clarity and detail on the conditions proposed to be imposed on transferable virtual items and in-game monetisation facilities for free-to-play games.

The proposed exemption for social gambling represents a relaxation of Singapores prohibitive stance against gambling, other than in licensed land-based casinos or through exempted betting outlets and operators. It remains to be seen how the MHA intends to further define the conditions for social gambling, and whether it will introduce any presumptions or deeming provisions (e.g., whether there will be premotions as to what constitutes a bona fide social relationship among participants).

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Read more from the original source:

Public Consultation on Proposed Amendments to Singapores Gambling Laws - JD Supra