Category Archives: Gambling

Neither the author, Michelle Jones, nor this website, The Tokenist, provide financial advice. Please consult ourwebsite policyprior to making financial decisions.

A significant trend weve seen developing over the last year or two is professionals in the finance and Big Tech spaces defecting to crypto firms. Clearly, the consensus view is that crypto firms are not only here to stay but also offer at least some level of job security.

However, not everyone agrees. Its no secret that bitcoin and other cryptocurrencies are polarizing investments. Additionally, many famous investors have made public their views on digital currencies. Heres a round-up of what experts and famous investors say about cryptocurrencies.

One of the more recent comments came from cybersecurity expert Bob Seeman of CyberCurb. At the 2020 Virtual Value Investing Conference hosted by Ivey Business Schools Ben Graham Centre for Value Investing, he declared that bitcoin is not investing but rather gambling in a rigged game.

Seeman said the blockchain technology that backs bitcoin is merely a distraction like a magicians sleight of hand. He also argued that bitcoin isnt a currency, store of value, or even an asset. Seeman also said it isnt an inflation hedge because the bitcoin price has plunged as inflation has soared.

He thinks the cryptocurrency has almost no value and argues that it is a form of gambling because people buy it just because of how much they think others will buy it from them in the future. Seeman compared bitcoin investing to betting on a point spread in football because the latter is determined by what others think about how the game will end.

Based on his conclusion, he looked at U.S. gambling laws and concluded that bitcoin is an unlawful game subject to chance. Interestingly, all 50 state attorneys general, who regulate gambling in their states, did not disagree with his conclusion. Seeman ended his presentation by declaring bitcoin to be the worlds largest unlicensed gambling casino.

Speaking of gambling, the Oracle of Omaha Warren Buffett has compared other forms of investing to gambling, warning that many people were treating the stock market like a casino. Like Seeman, he has also come out firmly against bitcoin, declaring it to be rat poison squared.

We should also point out that many enthusiasts see bitcoin as a sort of digital gold because they believe it to be a store of value. However, Buffett doesnt invest in gold either because he sees it as unproductive.

Of note, Buffetts Berkshire Hathaway recently invested in Nubank, a neobank that operates differently from traditional banks by not depending on brick-and-mortar branches. Instead, Nubank and other neobanks focus primarily on digital services, and Berkshires investment in it raised a lot of eyebrows due to its connection to cryptocurrencies.

However, its important to point out that Nubank merely offers a bitcoin exchange-traded fund to customers, so its crypto connections are greatly exaggerated.

On the other hand, many famous investors have happily taken up positions in cryptocurrencies. In fact, Peter Thiel has such a strong opinion on bitcoin that he has taken aim at Buffett, JPMorgan CEO Jamie Dimon, and BlackRock CEO Larry Fink over their views of cryptocurrencies, saying that theyre trying to halt bitcoin adoption.

Thiels remarks on Buffett at a recent bitcoin conference were especially provocative, as he referred to the Berkshire chief as a sociopathic grandpa from Omaha and bitcoins Enemy Number One. Thiel has been bullish on bitcoin for years, having reportedly amassed hundreds of millions of dollars worth of bitcoin by 2018 through his venture capital Founders Fund.

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In recent years, more and more hedge fund managers have come around to the idea of holding bitcoin and other cryptocurrencies. Paul Tudor Jones changed his mind on cryptocurrencies a couple of years ago, and he convinced Stanley Druckenmiller to change his mindon a phone call.

Specifically, both fund managers began to see bitcoin and other cryptocurrencies as potential hedges against inflation. The Wall Street Journalreported last monththat Jones and billionaire investor Alan Howard were upping their bets on cryptocurrencies.

More recently, hedge fund billionaire Ken Griffin of Citadel Securities changed his view of cryptocurrencies, saying his fundcould get involved in digital assetsin the coming months. He said he hasnt been right on his dismissal of cryptocurrencies as a jihadist call against the U.S. dollar.

Now Griffin believes cryptocurrencies have been one of the greatest stories in finance over the course of the last 15 years.

Bitcoin and other cryptocurrencies are sure to remain polarizing investments for years to come, but its no secret that millions have been made by investing in the digital asset space. Its difficult to imagine what would make Buffett or any other crypto bear change their mind on the space.

Its also particularly interesting that a cybersecurity expert would dismiss the blockchain technology that backs cryptocurrencies. Seemans argument is that blockchain technology isnt some great, new thing because it has been around since the 1980s when he was working as an electrical engineer. He described blockchain technology as like a big Google spreadsheet.

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This article is about how Canadas legal online gambling industry has continued to grow. The Canadian government has made it legal to gamble online with money, which has allowed the gambling industry to be regulated and monitored. Canadians have been able to play casino games, but they can also participate in sports betting, poker, lotteries, and other games. Below is how the Legal Online Gambling Industry in Canada Continues to Grow in 2022 and further.

In the Legal Online Gambling Industry, there will be more people who are using cryptocurrencies. Bitcoin has been around for almost a decade, and many people are now using it as a payment method.

Cryptocurrencies have become a common means of payment to the Gambling Industry. Today, many online casinos accept payments in the form of cryptocurrencies. They understand that it is easier to convert these currencies into real money.

In the Industry, it is now possible to bet on sports matches through your computer or mobile device. Sports betting has only been legal for a few years now, and it continues to evolve with new features and options being added.

There are now a lot of licensed operators that you can pick from. Some of these sportsbooks offer futures and props bets, while others only have simple wagers on the money line, point spread, or even over/under.

There are now several gaming software suppliers to Canadian operators. The best brands are Microgaming, NetEnt, NYX Gaming Group, and Playn Go. These suppliers have been around for many years, and they all offer top-notch video slots, live dealer titles, and other games to licensed online casinos.

This has contributed to the growth of the online gambling industry in Canada, as you can always find a large selection of casino games to play.

One of the main draws to playing casino games online through your mobile device is convenience. You can play from almost anywhere as long as you have a 3G or 4G connection on your phone. For example, you could be stuck in traffic and have time to kill or wait for an appointment.

These days, mobile casino players can also deposit and withdraw with ease. There are no apps that you need to go out and download, and many operators will have a mobile-optimized website that you can quickly access on your phone.

Over the last few years, Canadian players have been treated to an increasingly better experience when playing casino games online. Check out the list of best canadian casinos that everyone uses while selecting the best one for themselves in canada. This has mostly been thanks to improved payment processing methods from software providers and payment processors.

There are now more options available to Canadian players. This includes playing with free spins and even depositing on mobile devices.

Casinos have had a green light system for many years. You have been granted access to the gaming center by being allowed in with some identification card or biometric process. This is often done through something such as an ID scanner, retina scan, etc.

Now, many online casinos are using something called a touchscreen green card system. This is just a fancy name for some other form of ID linked to your financial account. It lets you enter the gaming center without having to produce any additional identification.

The legal framework put in place by the Canadian government is evolving as time goes on. In the past, online gambling was only legal in Canada if it was done at a licensed casino. The government has allowed certain forms of gambling to take place over the internet, and they are even going as far as regulating the industry.

The industrys growth depends on people being able to gamble online with ease. Now that the Canadian government has begun to regulate things, Canadians can take advantage of new services.

Based on statistics, it is evident that a lot more people are taking part in gambling activities online. Players who have used their credit cards to make deposits and place bets have increased by around 35% over the past two years alone. This means that Canadians spend more money each month than before when they played at brick-and-mortar casinos.

Many companies continue to enter the online gambling industry in Canada. They see this as an opportunity for growth, and they want their piece of the pie. You can find a lot of new and smaller operators entering the market these days.

They offer new features and bring new competition to the industry. This is great for Canadian players, as they got a better experience than before when fewer companies handled everything.

The licensing and regulation of the online gaming industry are happening at a much quicker pace than before. There are now many more people who can enter the legal gambling industry. The best part is that these new operators offer some of the best features, games, and services.

There are many more reasons to play at an online casino in Canada today, but there are still more that you can find out. With more brick-and-mortar casinos closing down, online gambling is increasingly becoming the go-to source for entertainment and fun.

Most people have a smartphone or tablet in their pocket these days. You can also use your computer to play games as well. There are many ways to take part in gambling, and all of them offer something new and exciting while providing some form of entertainment value.

As the legal framework for online casinos and gambling continues to evolve, players have even more choices regarding where they can play. The growth of the industry has contributed to a better experience for Canadian players and new options that they were not previously able to take advantage of.

The government is also putting regulations that will help prevent them from being shut down by regulators. This will continue as the regulatory bodies are quickly moving towards a more regulated gambling industry.

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Legal online gambling industry in Canada continues to grow in 2022 and further - Mtltimes.ca - mtltimes.ca

Betting on sport is something that has proved increasingly popular in recent years. Maryland has launched retail sportsbooks but, in the UK, they have had online sportsbooks for a fair while now. In terms of legislation though, the situation in the US compared to that in the UK is becoming rather different. Thats because regulation on its way in the UK.

The current situation in Maryland is different from that in the UK. It seems to be far more positive and betting companies arent worried about restrictions being placed on them.. At present, there is only retail sports betting available at casinos. There had been a long wait for sports betting to be legalized.

December 2021 saw retail sportsbooks launched but not online betting. March 2022 saw the five retails sportsbooks take legal bets worth just over $31.5 million. Online betting may begin in September 2022 and would result in far more betting taking place. Itd also significantly increase the tax revenue received by the state from the current estimate of around $15 million a year. An online launch in Maryland would also be good news for the UK gambling industry.

Why? Well, In the UK, they are keeping a very close eye on what is happening across the pond. When in 2018, a US Supreme Court judge ruled that individual states could decide if they wanted to legalize gambling, that was important on both sides of the Atlantic.

An increasing number of states have introduced sports betting. That has seen top UK companies such as William Hill (now owned by Caesars Entertainment), 888sport, Bet365 and Entain (who own companies such as Coral and Ladbrokes) forming partnerships with US gambling companies. They have the experience of running a sportsbook and have proved invaluable as the US gambling industry expands.

Several of the UK companies have been recently releasing their Q1 results. The information they provide and their statements on the future of their companies regularly include their plans for further US expansion. Something that will happen if more states legalize sports betting.

888sport recently announced a fall in year-on-year Q1 revenue but the gambling company are still confident of success. Their report stressed the importance of their business in the US. A new President of their US operations has been announced. Howard Mittman will help with the partnership they have with Authentic Brands Group and the SI Sportsbook.

The company has World Series of Poker rooms and are soon to launch in Michigan. Their CEO Itai Panzer believes the rest of 2022 will see 888sport further grow a profitable business in the US.

Evolution have become the Kings of the online casino. They work with FanDuel supplying their extremely popular products. When Maryland does finally launch online casinos, it is likely you will find yourself playing at a live casino that Evolution have created. More games are being released and the impressive figures that they have will continue to please their company bosses.

Entain were certainly happy about their Q1 figures with their Group Net Gross Revenue up 31%. Their work with BetMGM has now got to the stage where they have access to over 41% of the adult population. That figure is expected to rise in the future, according to britishgambler.

All of this is important to the UK gambling companies because of what may soon happen at home. The UK government is carrying out a review to the Gambling Act passed 17 years ago. They are due to supply information on what they have planned in May of this year. There is talk of banning gambling companies sponsoring sport. This brings them a great deal of exposure, but many feel it is just encouraging people to become gamblers.

Recent months have seen the UK Gambling Commission issue fines to the value of millions of pounds to companies they licence. Fears of allowing at-risk customers to simply carry on betting more money and possible money-laundering leads to fines.

The UK Gambling Commission have just released figures for the year to March 2022. They show a 3% rise in overall participation but still below the figures from before the Covid-19 pandemic. Around one in four Brits are indulging in online gambling, a slight rise on last year.

While companies in the US are just waiting for more states to legalize gambling, there are problems in the UK. William Hill have even put millions of pounds aside just in case a big fine comes their way. It is no surprise therefore that UK gambling companies are looking at the US, Canada, and Latin America as the areas where expansion can lead to maintaining and improving their revenues.

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Why the US Gambling Industry is so Important to the UK - Eye On Annapolis - Eye On Annapolis

TOWN OF THOMPSON The New York State Gaming Commission, New York State Office of Addiction Services and Supports, and New York Council on Problem Gambling, which together comprises New Yorks Responsible Play Partnership, announced steps being taken to address problem gambling.

They announced the program at Resorts World Catskills in the Town of Thompson.

Gaming Commission Executive Director Robert Williams debuted signage featuring the industrys Quick Response (QR) Code to connect problem gamblers with trained problem gambling clinicians where they live, in real-time.

As the gaming arena continues to expand across New York State, the commission and our partners are committed to making gaming safe and responsible for all, said Williams. We are united in working together to make sure that individuals who need help have access to the necessary tools and resources in a timely manner.

OASAS Commissioner Chinazo Cunningham said when someone decided that they need help for a gambling problem, it is essential that a treatment connection is made quickly. The QR code is an innovative approach to connecting individuals to specially trained outpatient and inpatient treatment programs and private practitioners, throughout the state.

The Council maintains a network of regional Problem Gambling Resource Centers, including the Mid-Hudson PGRC (Mid-HudsonPGRC@NYProblemGambling.org), to provide services that raise awareness of the risks of problem gambling and advocate for those in need.

Safety and responsibility are top priorities for Resorts World leadership, said Meghan Taylor, Genting New York vice president of Government Affairs and Public Relations. We have a longstanding commitment to responsible gaming that includes working to deliver the most current and comprehensive training in the industry and we applaud the Gaming Commission for taking advantage of QR technology that we can incorporate into that instruction. Ensuring our staff is prepared to fight this issue contributes to the overall well-being of our guests and neighboring community.

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Gaming commission and casino promote responsible gambling - Mid Hudson News Website

Northern Ireland has enacted a bill that will bring major changes to the regions gambling regulations. The so-called Betting, Gaming, Lotteries, and Amusements Bill received royal assent and will address some of the issues of the local market.

The Bill amends certain parts of Northern Irelands gambling law, or, the Betting, Gaming, Lotteries and Amusements Order 1985. The bill primarily affects retail stores but the local government plans to eventually introduce changes to how online gambling is handled as well.

The new laws will bring changes to how gambling venues are governed, when retail stores are allowed to open, etc. For example, the new bill will allow brick-and-mortar betting stores to remain open on Sundays and even on Good Friday. The venues will still be required to close their doors on Christmas, though.

Although Northern Ireland has vowed to ease up the restrictions on when betting venues can remain open, it has introduced new regulations. Licensed operators will now be subject to a new mandatory tax and will be presented with a code of practice.

Northern Ireland will penalize socially-irresponsible people who allow a minor person to play on a gambling machine. Perpetrators risk fines and up to 6 months in prison.

Some of the new changes come in the wake of a consultation from September 2019 where the majority of people (66%) said that they support the lifting of certain restrictions for operators. A significant portion of the respondents added that they believe gambling companies should be allowed to take bets on non-holiday Sundays.

The Betting, Gaming, Lotteries, and Amusements Bill was promoted by communities minister Deirdre Hargey who welcomed the changes. He wants to protect children from being exposed to gambling from a young age and praised the decision to punish those who allow minors to bet.

Hargey added that the bill will also permit certain bodies, such as charities, sports clubs, and other volunteers to increase their ticket prices and thus allow them to fund causes that matter:

The bill also provides increased opportunities for local charities, sports clubs, and other voluntary groups to raise more money for good causes by increasing the maximum ticket price and simplifying the rules around deduction of expenses that apply to societies lotteries.

Northern Ireland is currently eyeing the prospects of establishing an official gambling regulator to govern casino and betting games in the region. This move mirrors the happenings in its southern counterpart where the establishment of a gambling authority is on the way.

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Northern Ireland Enacts Gambling Bill to Change How Betting is Governed - GamblingNews.com

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As in most countries, gambling is a hot topic in India. The gambling situation in India might change in the next few years as this field is almost constantly developing to follow the rest of the world. However, right now the gambling situation in India is as followed.

India has had a complicated relationship with gambling like most other countries as there are always people who are very much against it while others feel a loss of freedom in the restrictive law.

What is the attitude towards gambling in India

The general perspective on gambling in India is restrictive. Gambling is in most countries a state subject and it is as well in India. The Public Gambling Act of 1867 is an important law in India that prohibits to have any gambling business running. If you do so the punishment is a large fine or imprisonment for up to three months. It is not only the ones running the casino who will get in trouble addition the gambling act prohibits visiting a gambling venue of any kind. This act is the widespread practice of gambling in India. However, some are differentiating in terms of which games are offered. As the Supreme Court of India differs between games of skill and games of chance. Whereas the games of chance are not allowed, the games of skill are looked upon differently as they require a certain amount of skill and strategy.

Where is it legal to gamble?

Even though gambling is illegal in most of India the law varies state by state. Each state in India is entitled to make its law on gambling activities, which is why it naturally changes from state to state. And most states have decided to make any gambling activity illegal by law some states have a different approach. There are three states where it is allowed to gamble money and to place bets. These three states are Sikkim, Daman, and Goa. Within the borders of these states, you can gamble and bet freely. So, if you want to engage inresponsible gambling in Indiathis is where to be situated. There are land-based casinos in all three states, however, it is possible to do it online as well. And if you are in doubt abouthowit works,you should make sure to do some research so you are on the right side of the law.

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The gambling situation in India - EasternEye - Eastern Eye

Gross gaming revenue across Danish gambling has witnessed an increase across the first three months of the year, driven by its gaming machines and land-based casinos segments that were closed due to COVID-19 mitigation efforts during the past year.

Revenue through January to March came in at DKK 1.575bn (178.15m), which comes in at a 20 per cent uptick year-on-year from DKK 1.3bn (147m).

The figures show that the gambling spend on betting and online casino has fallen compared to the same period last year, the Danish regulator, Spillemyndigheden, noted.

On the other hand, the gambling spend on gaming machines and land-based casino has increased compared to the same period last year, since the latter gambling sectors were affected by lockdowns in connection with COVID-19 in March 2021.

Online casino took the lions share of GGR through Q1 after coming at DKK 702m (79.41m), dropping 2.5 per cent YoY from DKK 720 (81.45) due declines in both February and March.

January witnessed a 1.4 per cent uptick in igaming GGR to DKK 261m (29.52m) from DKK 258m (29.18m), however the following two dropped 1.6 per cent to DKK 214m (2021: DKK 218m) and 7.4 per cent to DKK 226m (2021: DKK 244m), respectively.

Denmarks betting division also recorded a downfall in GGR through Q1 as falling figures in February and March failed to offset a stellar start to the year. Three month GGR declined 3.7 per cent to DKK 567m (64.14m) from DKK 589m (66.63m).

The year began with a 10.5 per cent increase recorded as revenue closed the month as DKK 228m (2021: DKK 207m), which was followed by a pair of decreases of 17 per cent to DKK 184m (2021: DKK 221m) and 3.7 per cent to DKK 155m (2021: DKK 161m).

Elsewhere, gaming machines, which boasts locations in arcades and restaurants, and land-based casinos reported GGR of DKK 241m (27.24m) and DKK 65m (7.34m).

For the former, January, February and March brought DKK 22m (2.48m), DKK 109m (12.32m) and DKK 110m (12.43m), while for retail gaming establishments those figures are zero, DKK 31m (3.5m) and DKK 34m (3.84m).

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Danish gambling witnesses igaming and betting declines through Q1 - Casino Beats

VALLETTA, Malta, April 26, 2022 /PRNewswire/ --In the first quarter of 2022, Kindred's share of revenue from harmful gambling decreased to 3.3 per cent. Increased focus on improving and optimising intervention measures has contributed to the decrease.Kindred also entered a collaboration with RecoverMe, an app supporting users regain control of their gambling habits.

In the first quarter of 2022, Kindred Group plc's (Kindred) share of revenue from harmful gambling decreased to 3.3 (3.9) per cent. The positive trend has been impacted byseasonal changes, with the first quarter historically seeing lower shares of revenue from harmful gambling year on year, as well as an optimised process for manual interventions towards high-risk customers. This has resulted in fewer customers being re-detected following interventions, leading to a more sustainable gambling behaviour which is one of the ambitions outlined in the Group's roadmap. Kindred also continues their more cautious approach to the younger demographic (age group 18 to 25), since this group is at higher risk to harmful gambling and more prone to addiction. The increased focus has resulted in a larger decrease in the percentage of harmful revenue from this demographic group.

Global statistics from Kindred Group

Q2 2021

Q3 2021

Q4 2021

Q1 2022*

Share of gross winnings revenue from high-risk players

4.3%

3.3%

4.0%

3.3%

Improvement effect after interventions

76.9%

64.9%

79.2%

83.1%

*90 day rolling period between 20 December and 19 March 2022

During the quarter, Kindred has updated the improvement effect metric after interventions. Instead of only focusing on financial indicators, the metric now includes behavioural indicators, which is more aligned with Kindred's detection system, PS-EDS.

"We started 2022 with a focus on targeted deliveries. Our team has specifically focused on optimising our manual interventions further, resulting in a higher percentage of customers showing healthier gambling behaviour after they have been detected and contacted by our responsible gambling team," says Henrik Tjrnstrm, CEO of Kindred Group.

Kindred has also entered a collaboration with the team behind the RecoverMe app, which uses research-proven techniques to help users regain control of their gambling habits. Thanks to the collaboration, Kindred can offer the app to its customers for free, initially in the UK and the US.

"Only eight per cent of individuals with problem gambling seek help due to the stigma associated with the addiction, inaccessibility and lack of awareness of treatment options. RecoverMe's partnership with Kindred is a vital lifeline in helping us provide care to those that need it most. We believe passionately that collaboration with organisations like Kindred will help us reach those that need support and historically have been individuals who are difficult to reach and access therapy," says Tejus Patel, Junior Doctor at King's College Hospital NHS Foundation Trust and co-founder of RecoverMe.

"I am very proud that we have entered the collaboration with the team behind the RecoverMe app, ensuring we can offer this service for free to all our customers in the UK and the US. We are also sponsoring additional PhD programmes on addiction studies, enabling these students to study and work full-time in academia. Our focus right now is to continue to increase efficiency and speed in engaging with detected customers as early intervention is critical in preventing a harmful behaviour," concludes Tjrnstrm.

About our journey towards zero

Kindred Group is committed to transform gambling by being a trusted source of entertainment that contributes positively to society. Therefore, Kindred has set an ambition to reach zero per cent revenue from harmful gambling by 2023 and to report this metric on a quarterly basis. This is done to increase transparency, to support a fact-based dialogue about harmful gambling, and to raise awareness of the Group's sustainability work. To read more, visit: http://www.kindredgroup.com/zero.

CONTACT:

For more information:Maria Angell Dupont, External Communications Manager, Kindred Group[emailprotected]+46 72 165 15 17

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/kindred-group/r/kindred-s-revenue-from-harmful-gambling-decreased-to-3-3-per-cent-in-the-first-quarter-of-2022,c3552620

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Kindred's revenue from harmful gambling decreased to 3.3 per cent in the first quarter of 2022 - PR Newswire

Our analysis was based on a comparison of health utility scores between unharmed / non-problem gamblers, for the SGHS and PGSI, respectively, who had participated in gambling at least once in the last year (hereafter, the control group) and those experiencing some degree of harm or problems (hereafter, the affected group). It is important to note that the control group for the SGHS and PGSI analyses were slightly different, as some respondents may have scored 0 on the SGHS and therefore been in the control group for SGHS-based analyses, but scored more than 0 on the PGSI and therefore been in the affected group for PGSI-based analyses. Sampling was stratified with respect to group, age and gender. Cases were propensity weighted based on key risk factors, and regression-estimated coefficients were estimated with control variables for gambling comorbidities. Similar analyses were run using the PGSI and the SGHS to define the reference (score 0) and affected (score 1+) groups. Categorical, linear and non-linear utility functions of 1+ scores were compared.

Australian participants aged 18+ were recruited from a commercial panel provider during late 2020 and early 2021 as part of a broader project to study gamblers, non-gamblers, and concerned significant others. The commercial panel has their network of respondents who have signed up to take part in research opportunities. The panel invited respondents through email and all data was collected online. As compensation, participants received points which could be exchanged for rewards as per the panels internal points-accumulation system.

All eligible participants were required to be Australian residents, aged 18years or above, provide consent to participate in the study, and to have gambledFootnote 1 in the past 12months. Residents of the state of Victoria were excluded due to COVID lockdown at time of sampling. Using soft-quotas, we attempted to sample approximately equal groups with respect to age (18-29, 30-44, 45+) and gender with respect to control / affected group status. A total of 22,699 started the survey, however 16,061 were screened out for the following reasons: 5848 did not meet the residency or age criteria, 5922 provided incomplete responses, 441 provided poor quality data (such as straight lining through the survey), and 3850 were excluded due to quotas being full. A total of 6638 responses were retained, of which 2603 were gamblers and formed part of the present analysis, with 1193 (45.8%) scoring zero on both population screens. Table1 provides the demographic characteristics for gamblers and figures are presented separately for gamblers who scored zero and 1+ on each screen. For the SGHS 1546 gamblers (59%) scored 0 and 1057 (41%) scored 1+, and for the PGSI 1331 (51%) scored 0 and 1272 (49%) scored 1+. The most common forms gambled on included lotteries (82.1% of sample), electronic gaming machines (65.3%), scratch tickets (64.0%), race betting (63.8%), raffle tickets / competitions (62.9%), sports betting (43.6%), and Keno (41.3%). Less than one-third of participants gambled on all other forms (casino table games, informal private betting, prize draws, Bingo, eSports, fantasy sports, and other).

All participants completed the following measures. Problem gambling status was assessed using the PGSI. The PGSI uses nine items (e.g. have you bet more than you could really afford to lose?) with each item measured on a four-point scale (from 0=never to 3=almost always). Total scores are summed and risk categories are yielded (non-problem 0, LR 1-2, MR 3-7, PG 8+) [2]. Reliability for the PGSI was high in the current sample (=0.95).

Gambling harm was assessed using the SGHS. The SGHS comprises 10-items (e.g. had regrets that made me feel sorry about my gambling) each measured in a binary no/yes format. The SGHS captures financial, emotional/psychological, and relationship harms due to gambling and yields scores 0-10 [3] however the screen does not specify categories. Nonetheless, recent research assessing the SGHS using the Personal Wellbeing Index suggests that cut-offs of 1-2, 3-5, 6+ provide a reasonable categorisation of differing degrees of harm [16]. Reliability for the SGHS was high in the current sample (=0.90).

We measured health utility using the SF-6D (see [32] for a detailed description). The SF-6D is a preference-based measure derived from the SF-12 item self-report measure [33]. It captures physical functioning, role limitations, social functioning, pain, mental health, and vitality, and yields health utility coefficients between 0.345 to 1.000 [34].

Demographic characteristics identified as risk factors for gambling problems and harms [17] were considered for inclusion in the propensity model: gender, country of birth, personal and parents highest level of education achieved, selected work status flags (FT student, unemployed, being unable to work due to infirmity, labourer), marital status, household composition (e.g. single, couple with children), personal and household income, and metropolitan/regional/rural residential location. Psychological risk factors such as cognitive style or rash impulsivity were measured but excluded due to potential endogeneity, particularly with respect to gambling problems when considered as a mental health condition.

The following key co-morbidities that affect health were also measured: excessive alcohol consumption (AUDIT-C) [35], any recreational drug use, cigarette smoking frequency (single-item measures), and ever having been diagnosed with a mood disorder, anxiety disorder, personality disorder, or any other mental health disorder (separate binary indicators). The AUDIT-C is a three-item measure of hazardous drinking (e.g. how often do you have six or more standard drinks on one occasion) with each item measured on a five-point scale. Reliability for the AUDIT-C in the current sample was (=0.67).

The analyses took a multi-step approach, and all analyses were conducted for SGHS as well as PGSI. Because SGHS and PGSI are correlated, there is significant overlap between the affected and control groups for the two measures. The first step was to determine the required weights for the propensity score matching, which was based on initial logistic regressions predicting SGHS or PGSI (0 vs 1+; Propensity models in Table2). Based on these regression results, propensity score weights were used in subsequent analyses predicting SF-6D scores using SGHS (and PGSI separately) as independent variables. Known risk factors were included as covariates (Causal models in Table 2). A final set of models was run predicting SF-6D using SGHS (and PGSI separately) as independent variables, but without the risk factors as covariates, to determine the effect of the covariates on the estimated decrements.

The working for the weights in the causal models is based on the binomial logistic regression predicting harm (SGHS=1+) compared to not experiencing harm (SGHS=0), or the equivalent for PGSI (0 vs 1+). The predictors in the models were known risk factors for experiencing gambling harm or problems and were chosen for each model based on backwards stepwise elimination using the Akaike Information Criteria, to avoid redundancy and multicollinearity. The models for SGHS and PGSI therefore had slightly different predictors to each other. While stepwise variable elimination has limitations for interpreting covariates, they do not apply in this case because our objective was not to interpret these covariate effects, but to achieve statistical control.

From the logistic regressions, predicted probability of harm (or problems) was derived for each individual and then cases in each group (affected vs control) were inversely weighted with respect to these group propensities based on the standard propensity weighting method:

$${displaystyle begin{array}{c}mathrm{if}left(mathrm{affected}right):frac{1}{hat{P}left(mathrm{affected}right)}\ {}mathrm{if}left(mathrm{control}right):frac{1}{1-hat{P}left(mathrm{affected}right)}end{array}}$$

This weighting acts to remove some potential selection bias from confounders in estimating the direct effect of gambling harm on health. This is because people with different demographic and other characteristics differ in their propensity to experiencing harm or problems from gambling, and these same risk factors can also contribute directly to lower wellbeing. For example, from Table 2, younger people in the present study were more likely to experience some degree of harm. The propensity weighting balances the groups of who were actually affected / unaffected, with respect to their propensity for being affected by gambling harms or problems. For example, looking at Table 1, affected gamblers were more likely to be younger compared to controls. The process weights down younger respondents in the affected group, and weights up younger respondents in the control group, balancing the groups with respect to this particular risk factor. One issue with propensity weighting is that excessively large or small weights can lead to outside case influence. However, skew and outliers of weights were moderate (median~1.8, mean~2, max ~6), so no thresholding of excessively large weights was required.

In a supplementary analysis, shown in Table3, the empirically derived estimates were applied to population estimates of SGHS and PGSI score prevalence using a recent Victorian prevalence dataset [13], in order to estimate population aggregate impact. Finally, a standard Pearson correlation matrix (see Additionalfile1), was calculated for descriptive purposes.

Ethical approval for this study was received from the institutional Human Research Ethics Committee (#22341) and all methods were performed in accordance with the relevant guidelines and regulations. Participants provided informed consent before participating.

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Benchmarking gambling screens to health-state utility: the PGSI and the SGHS estimate similar levels of population gambling-harm - BMC Public Health -...

There's a new pro sports team in town.

State of play: The newly formed Austin Gamblers is part of the inaugural Professional Bull Riders Team Series, and you'll have the chance to catch the team at the Moody Center from Aug. 26-28.

Don't know a single thing about bull riding? We're right there with you.

But don't worry. We did the work and here's some trivia that'll keep you looking sharp at the watercooler:

The point system: The PBR Team Series will build on the existing structure of professional bull riding, with a scoring system based on the required 8-second rides.

Of note: We'll learn who our hometown heroes are on May 23, during the PBR Team Series draft order.

Between the lines: The PBR and Humane Society have had back-and-forths about the nature of the sport.

What's next: There will be a free community launch event for the Austin Gamblers at Republic Square this Thursday from 11:30am to 1:30pm, featuring a Q&A session with PBR riders, live music, food trucks, live and mechanicals bulls.

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What you need to know about the Austin Gamblers - Axios