Gazette.Net: Slots in Prince Georges is no sure bet
More than 6,000 jobs, $2.3 million in economic impact and almost $300 million in total wages: That would be the jackpot if slot machines come to Rosecroft Raceway, according to its owner.Chopra Talks About Gambling Addiction
Ipswich striker Michael Chopra has revealed he has gambled away up to £2million and he played with injury to cover a debt.Gambling on the Qantas brand
Qantas seems to be betting a de-emphasised image as a national carrier is the best business strategy. But selling itself in the Australian market will be tough without this model. 1 Nov 2011 12:26 PMFavourite-longshot bias
In gambling and economics, the favourite-longshot bias is an observed phenomenon where on average, bettors tend to overvalue "long shots" and undervalue favourites. That is, in a horse race where one horse is given odds of 2-to-1, and another 100-to-1, the true odds might for example be 1.5-to-1 and 300-to-1 respectively. Betting on the "long shot" is therefore a much worse proposition than betting on the favourite. Various theories exist to explain why people willingly bet on such losing propositions, such as risk-loving behavior, or simply inaccurate estimation as presented by Sobel and Raines.[1]
References
- ^ Russell S. Sobel & S. Travis Raines, 2003. "An examination of the empirical derivatives of the favourite-longshot bias in racetrack betting," Applied Economics, Taylor and Francis Journals, vol. 35(4), pages 371-385, January
References
- http://bpp.wharton.upenn.edu/jwolfers/Papers/Favorite_Longshot_Bias.pdf
- http://favourite-longshot-bias.behaviouralfinance.net/
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Gambling groups question German reforms
Online gambling companies have signalled they could take fresh legal action against what they say is an over-cautious opening of the German gambling market, agreed by the federal states last week.Michael Chopra reveals his gambling torment
Ipswich striker Michael Chopra has revealed the torment of a gambling addiction that threatened to wreck his career. he was so hooked he was getting up in the middle of the night to bet on football matches.Ballarat rife with TAB outlets
GETTING a bet on has never been easier with TAB facilities rife throughout Ballarat.Lawmakers oppose gambling for Vikings stadium funding
ST. PAUL - A coalition of legislators ranging from the most conservative to the most liberal say that using gambling funds to finance a new Vikings football stadium is a sure bet to do the state more harm than good.Odds on more gambling improve, still no sure bet
SPRINGFIELD - Chances that Illinois will see more gambling could be getting better, as Gov. Pat Quinn enters negotiations with the Legislature.Quinn is expected to discuss the future of gambling in Illinois with state Senate President John Cullerton, D-Chicago, and state Sen. Terry Link,...Struggling Nevada Latinos could bet on Republicans
The casinos of Las Vegas may be glittering on the outside, but behind the bright lights the reality for many workers here, especially Latinos, has been pretty grim for the last few years.Chuck Jaffe: The chips are stacked against this stock
The casino business has been a popular investment sector in recent years, and for good reason. But not all gambling stocks are worth your bet, writes Chuck Jaffe.CAW, Joe Comartin want gambling changes
The union representing workers at Casino Windsor is once again throwing support behind single-game sports betting in Canada.Quinn Kills Gambling Bill, Maybe Racetracks Too
There's no way a gambling bill can pass without slots at racetracks. There may also be no other way for some racetracks to survive. Photo Credit: NBCChicago.comEx-Swans player reveals gambling losses
Former Sydney Swans player Daryn Cresswell says he lost close to $1 million gambling and admits he once bet on a game he played in.Editorial: Gambling While casinos inevitable, don’t bet budget on them
Like it or not, expanded casino gambling is in Florida’s future.Greens reveal pokie alternative
Bob Brown believes Andrew Wilkie and Nick Xenophon are open to the Greens' policy on gambling reform.John Hartson: I’m being hounded for gambling debts
JOHN HARTSON last night revealed that he is being hounded over his gambling debtsGambling behavior negatively impacts 1 in 5 Iowans
New study suggests the majority of Iowans gamble each year, and most are able to bet without developing symptoms of gambling addiction.Dutching
In gambling, Dutching is sharing the risk of losing across a number or runners by backing more than one selection in a race or event. The process calculates the correct stake to place on each selection so that the return is the same if any of them wins. This is not to be confused with what constitutes a Dutch book which is when a bookmaker goes overbroke (the opposite to overround).
It is thought the strategy behind Dutching was originally conceived and employed by Arthur Flegenheimer (aka Dutch Schultz) alongside various rackets he had running at the racetrack. The system has since taken his name.
The strategy can pay dividends when gamblers successfully reduce the potential winners of an event to a select few from the field or when information about runners not expected to perform well does not reach the market (so as to affect the odds) making backing the rest of the field profitable.
Dutching calculators that perform the mathematics behind the system are freely available on the internet.
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Kicking the gambling habit
A former gambling addict and his team of volunteers are helping people to kick the habit through Gamblers Rehab Centre Monday, October 10th, 2011 11:27:00 PETALING JAYA: Problem gambling has adverse consequences not only for the individuals involved, but their families and society as a whole.SPL – Ex-pro: Gambling rife in football
Ex-professional footballer Eddie Annand has come out and said that there is a huge gambling culture in the sport.Gambling on losing 100lb wins man £10,000
Peter Heeks has lost a few pounds over the years at the bookies – but now he is quids in after winning a bet that he could shed 100lb of flab in a year.Robert Powell’s Your Portfolio: Beware the big bets, chase the safe havens
Current market conditions might lead many investors to think that big bets or safe havens are the only moves right now. But advisers say beware the big bet — it’s a risky strategy and the losses could be equally big.Gambling knocked out? Don’t bet on it
Illegal gambling in Athens took a huge hit with recent criminal prosecutions in state and federal court, but authorities know the problem isn't gone.Casino job-hunters in Ohio bet on skills coaching
After years doing construction work and then trying his hand at selling insurance, Robert Berkheimer is hoping Ohio's first casino means a better job and future for him, but he's got plenty of competition.
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