References

  1. ^ Rose, I. Nelson; Loeb, Robert A. (1998). Blackjack and the Law (1st ed.). Oakland, CA: RGE Pub. p. 109. ISBN 978-0910575089.
  2. ^ . United Kingdom Office of Public Sector Information. Retrieved 2012-09-22.
  3. ^ Humphrey, Chuck. . Gambling-Law-US.com. Retrieved 2012-09-22.
  4. ^ . Gamblingcommission.gov.uk. Retrieved 2012-09-22.
  5. ^ . The Economist. 8 July 2010.
  6. ^ Schwartz, David (2013). Roll The Bones: The History of Gambling. Winchester Books. ISBN 978-0615847788.
  7. ^
    Murdoch, James (1903) [1926]. . 3 (reprint ed.). London: Psychology Press. p. 325-326. ISBN 978-0415154178. Retrieved 2018-04-06. Many Japanese are naturally prone to gambling; in the old Kyoto court the vice was rife, and in the fourteenth and fifteenth centuries samurai would often stake their arms, armour, and horse trappings on a cast of the dice, even on the eve of a battle, and so have to go into action in incomplete panoplies, and sometimes with no armour at all. In Tokugawa times the vice did not reach this extent among the samurai, but it became common in Yedo and continued to be so throughout the history of the city.
  8. ^ Wilkins, Sally (2002). Sports and Games of Medieval Cultures. Greenwood. ISBN 978-0313360794.
  9. ^
    Thomassen, Bjørn (2014). . Ashgate Publishing, Ltd. p. 160. Retrieved August 17, 2015.
  10. ^ . Retrieved 5 September 2016.
  11. ^ See 38 Am. Jur. 2d Gambling § 162.
  12. ^ Annotation, 44 A.L.R.2d 1242.
  13. ^ 141 Cal. 2d 304, 295 P.2d 576 (3d Dist. 1956) (wife entitled to recover husband’s gambling losses on the ground that he had made a gift of community property without her written consent); see also 38 Am. Jur. 2d Gambling § 175 (statutory provisions allowing third parties to recover gambling losses).
  14. ^ Bose, M. L. (1998). . Concept Publishing Company. p. 179. ISBN 978-8170225980.
  15. ^ Berel Wein. . torah.org. Archived from on 16 June 2010. Retrieved 20 July 2010.
  16. ^ Kucharek, Rev. Cass (1974). To settle your conscience a layman’s guide to Catholic moral theology. Our Sunday Visitor. ISBN 0879738774.
  17. ^ D. Adamson. . Palgrave Macmillan. Retrieved 5 September 2016.
  18. ^ Moran, Dylan. . Christianpost.com. Retrieved 30 May 2016.
  19. ^ . 2 January 2013. Retrieved 5 September 2016.
  20. ^ . Retrieved 5 September 2016.
  21. ^ Mike Latona. . Catholic Courier. Archived from on 11 June 2016.
  22. ^ . Retrieved 5 September 2016.
  23. ^ . Retrieved 5 September 2016.
  24. ^ . Retrieved 5 September 2016.
  25. ^
  26. ^
  27. ^ The Discipline of the Evangelical Wesleyan Church. Evangelical Wesleyan Church. 2015. pp. 60–61.
  28. ^
  29. ^
  30. ^
  31. ^
  32. ^
  33. ^
  34. ^
  35. ^ . LDS.org. Intellectual Reserve, Inc. Retrieved May 14, 2018.
  36. ^
  37. ^ Morrison, Rod (2012). The Principles of Project Finance. p. 50.
  38. ^ Feener, Michael (2013). Sharia and Social Engineering. p. 145.
  39. ^ . Archived from on 16 November 2012.
  40. ^ . Gambling Info. Retrieved 2012-09-22.
  41. ^ . ABC.net. 2004-10-28. Retrieved 2012-09-22.
  42. ^ .
  43. ^ .
  44. ^ . Mayo Clinic.
  45. ^ The Guardian
  46. ^ a b c Morewedge, Carey K.; Tang, Simone; Larrick, Richard P. (2016-10-12). . Management Science. doi:. ISSN .
  47. ^ Simmons, Joseph P.; Nelson, Leif D. . Journal of Experimental Psychology: General. 135 (3): 409–428. doi:.
  48. ^ Simmons, Joseph P.; Massey, Cade. . Journal of Experimental Psychology: General. 141 (4): 630–634. doi:.
  49. ^ Pacini, Rosemary; Epstein, Seymour (June 1999). . Journal of Personality and Social Psychology. 76 (6): 972–987. doi:. PMID .

More To Come

While the £2 limit garnered the headlines, it is not the only significant change announced in the Government’s paper.

The Government cites the response from the Association of British Bookmakers (ABB) to the consultation, which included a number of measures to tackle problem gambling: hard stops when voluntary time and spend limits are met; card blocking as a supplementary tool to the self-exclusion scheme; and expanding a treatment pilot supported by the ABB, aimed at areas of high economic deprivation.

The Government rejected the ABB’s central call for less restrictive limit on FOBT stakes (they suggested £25), but endorsed the social responsibility measures: «We very much welcome these proposals and encourage the ABB and operators to work with the [Gambling] Commission and the RGSB on how to take these forward.» It therefore seems that the Government expects industry to implement the ABB’s additional proposals even after the £2 limit is introduced.

The Government has also taken a similar approach to the Gambling Commission’s advice on gaming machines, published in March. The Government adopted the lowest figure proposed by the Commission (from a range between £2 and £30). In addition, it endorsed the Commission’s view that a stake reduction alone would not go far enough to address the risks, and supported a number of the Commission’s other proposals. These include banning the facility for machines to allow different categories of games to be played in a single session, and working with industry to make pre-commitment tools more effective-for example, by automatically terminating sessions when consumers reach time or money limits. As a result, it seems likely that retail premises will need to implement tracked play and pre­commitment tools, no doubt at considerable expense.

Negative consequences

Studies show that though many people participate in gambling as a form of recreation or even as a means to gain an income, gambling, like any behavior that involves variation in brain chemistry, can become a harmful, behavioral addiction. Behavioral addiction can occur with all the negative consequences in a person’s life minus the physical issues faced by people who compulsively engage in drug and alcohol abuse.[43]Reinforcement schedules may also make gamblers persist in gambling even after repeated losses.

This is where the mafia often ends up making large profits, for example the Lucchese crime family book maker and collector «Big Mike Edwards» aka «Mikey muscles» would allow gamblers lines of credit and charge high percentage rates known as vigs to be paid weekly. Late or missed payments would result in visits and threats from such crime family members

The Russian writer and problem gambler Fyodor Dostoevsky portrays in his novella The Gambler the psychological implications of gambling and how gambling can affect gamblers. He also associates gambling and the idea of «getting rich quick», suggesting that Russians may have a particular affinity for gambling. Dostoevsky shows the effect of betting money for the chance of gaining more in 19th-century Europe. The association between Russians and gambling has fed legends of the origins of Russian roulette.
There are many symptoms and reasons for gambling. Gamblers gamble more money to try and win back money that they have lost and some gamble to relieve feelings of helplessness and anxiety.[44]

The Advertising Standards Authority has censured several betting firms for advertisements disguised as news articles suggesting falsely a person had cleared debts and paid for medical expenses by online gambling. The firms face possible fines.

Your Guide To The Best UK Gambling Sites

Legal United Kingdom Gambling Sites Tested by Our Experts

d70d6ea6c1eec1110cd09ff9fb97c0bc.gifThe Internet gambling industry has thrived in the United Kingdom because it is one of the places that has so strongly embraced gaming over the years.

When poker and casino games became available on web-based applications, it was the UK that not only welcomed the online gambling industry but also positioned itself at the forefront of regulation to help its growth. In 2016, British online casinos are some of the well-respected in the world.

When online gambling first became popular, rather than imposing draconian anti-gaming laws, the UK decided to legalize and regulate instead. New laws were passed in 2001, and a series of updates culminated in the Gambling Bill of 2005, viewed as one of the most comprehensive online gambling laws in the world.

The Gambling Bill covers licensing for Internet gambling sites in Great Britain and offshore operators, and it addresses many consumer protections, all of which are overseen by the Gambling Commission. The Internet gambling industry in GB is therefore a thriving and profitable one, and with UK online gambling sites leading the world in legal status and customer satisfaction, players rank online casinos from Britain as among the very best.

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Psychological biases

Gamblers exhibit a number of cognitive and motivational biases that distort the perceived odds of events and that influence their preferences for gambles. For example, gamblers exhibit a costly aversion to betting against their favorite team or political candidate.[46]

  • Preference for likely outcomes. When gambles are selected through a choice process – when people indicate which gamble they prefer from a set of gambles (e.g., win/lose, over/under) – people tend to prefer to bet on the outcome that is more likely to occur. Bettors tend to prefer to bet on favorites in athletic competitions, and sometimes will accept even bets on favorites when offered more favorable bets on the less likely outcome (e.g., an underdog team).[47]
  • Optimism/Desirability Bias. Gamblers also exhibit optimism, overestimating the likelihood that desired events will occur. Fans of NFL underdog teams, for example, will prefer to bet on their teams at even odds than to bet on the favorite, whether the bet is $5 or $50.[48]
  • Reluctance to bet against (hedge) desired outcomes.[46] People are reluctant to bet against desired outcomes that are relevant to their identity. Gamblers exhibit reluctance to bet against the success of their preferred U.S. presidential candidates and Major League Baseball, National Football League, National Collegiate Athletic Association (NCAA) basketball, and NCAA hockey teams. More than 45% of NCAA fans in Studies 5 and 6, for instance, turned down a «free» real $5 bet against their team. From a psychological perspective, such a «hedge» creates an interdependence dilemma – a motivational conflict between a short-term monetary gain and the long-term benefits accrued from feelings of identification with and loyalty to a position, person, or group whom the bettor desires to succeed. In economic terms, this conflicted decision can be modeled as a trade-off between the outcome utility gained by hedging (e.g., money) and the diagnostic costs it incurs (e.g., disloyalty). People make inferences about their beliefs and identity from their behavior. If a person is uncertain about an aspect of his or her identity, such as the extent to which he or she values a candidate or team, hedging may signal to him or her that he or she is not as committed to that candidate or team as he or she originally believed. If the diagnostic cost of this self-signal and the resulting identity change are substantial, it may outweigh the outcome utility of hedging, and he or she may reject even very generous hedges.[46]
  • Ratio bias. Gamblers will prefer gambles with worse odds that are drawn from a large sample (e.g., drawing one red ball from an urn containing 89 red balls and 11 blue balls) to better odds that are drawn from a small sample (drawing one red ball from an urn containing 9 red balls and one blue ball).[49]
  • /positive recency bias.

History

Gambling dates back to the Paleolithic period, before written history. In Mesopotamia the earliest six-sided dice date to about 3000 BC. However, they were based on astragali dating back thousands of years earlier. In China, gambling houses were widespread in the first millennium BC, and betting on fighting animals was common. Lotto games and dominoes (precursors of Pai Gow) appeared in China as early as the 10th century.[6]

Playing cards appeared in the ninth century in China. Records trace gambling in Japan back at least as far as the 14th century.[7]

Poker, the most popular U.S. card game associated with gambling, derives from the Persian game As-Nas, dating back to the 17th century.[8]

The first known casino, the Ridotto, started operating in 1638 in Venice, Italy.

Games for Older Xbox Consoles

If you only have an older console, Poker Night 2 is a great choice for you. Available for the Xbox 360, this title from Telltale Games gives punters the chance to play poker against some famous video game characters, such as Ash and Sam Williams, in a fully 3-D environment.

There are several different difficulty settings and game modes to pick from, and there are many different items that can be unlocked through gameplay, such as card decks, poker tables, and even new character skins. ItвЂs a fantastic choice for anyone who is just learning how to play poker since it gives you the chance to practice in a safe and interactive environment.

Xbox 360 players can also try their hand at an older title, Casino Nights, which is a complete gambling-themed game. Created by GZ Storm Games, this title gives a player the chance to try his or her hand at slots, blackjack, and Texas Poker, giving a person who is relatively new to gambling the opportunity to learn the basics and practice his or her skills before going to a real-world casino and placing his or her first wager.

Full House Poker is one further option that can be downloaded to the Xbox from the Microsoft Xbox Games Store. Allowing players to play poker against friends online, it also has a real social element, allowing players to compete with real-world players from across the globe.

External links

23ab2c9b9b14e0823210a89db363279f.png Look up gambling in Wiktionary, the free dictionary.
fc059eb9612f94d1d0080447d379d293.png Wikiquote has quotations related to: Gambling
b54813bde14fdd7369efe0b43c4edff1.png Wikimedia Commons has media related to Gambling.
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Caught In The Web

The Government also wants to see greater efforts from the online industry to tackle problem gambling. It calls for «rapid improvements» to player protections and a range of harm prevention measures; it also advocates greater use of technology and algorithms to spot harmful behaviours and patterns of play, to allow operators to intervene.

«If operators fail to demonstrate sufficient progress then the Government and the Commission has powers to introduce additional controls or restrictions on the online sector,» it warns ominously.

The Government’s paper also builds on and endorses the Commission’s proposals for online gambling, also published in March.

In particular, it notes four areas where the Commission is to bring forward proposals:

  • Age verification: a proposal to remove the current 72-hour period for operators to carry out age verification, and replace it with a system for verification before permission is granted to deposit funds in customer accounts or access free-to-play games;
  • Customer identification: requirements for more information about customers at an earlier stage, and proposals for mandatory limits on spending that can only be increased once an operator has verified certain customer information, «for example via an affordability check»;
  • Unfair terms and conditions: the Commission proposes to test how remote operators are ensuring promotions are clear and fair to consumers;
  • Ineffective customer interaction: steps to strengthen requirements on online operators to interact with consumers at risk from problem gambling and, again, more effective use of data to identify potential indicators of harm.

Other Areas

Three further areas covered by the Government paper are worth noting briefly. The first is proposed changes to advertising, with the Industry Group for Responsible Gambling due to amend its codes to ensure that a responsible gambling message appears for the duration of all TV adverts.

The Government also argues that research, education and treatment for addiction are so important that if sustainable funding targets cannot be guaranteed, there is a strong case for a statutory levy (GambleAware is currently funded by the industry on a voluntary basis). This would effectively amount to another tax on the industry.

Finally, there is a continuous focus on protection of young people throughout the paper, particularly in relation to advertising and research. The paper notes that the Committees of Advertising Practice will publish further guidance this year; it also notes that research on the effects of marketing and advertising on children, young people and vulnerable groups has been commissioned by GambleAware.

It is clear that these areas will all remain under close scrutiny.

Go With The Flow

Some of these changes will undoubtedly be painful for both retail and online businesses. There have already been significant objections raised by many within the industry. However, the Government and the Gambling Commission are committed to raising the bar when it comes to problem gambling and consumer protection. With increased focus on anti-money laundering also, the pressure on all gambling operators will only increase. This inevitably means more investment, rising compliance costs and challenged margins. The alternative is the risk of increased and more aggressive enforcement, bigger fines and heavier sanctions. For repeat offenders and the most serious failings, licence reviews will be the default position and an increased focus on individual PML holders is likely.

Operators have little option but to try and make the best of things. In the meantime, board-level buy in will be a prerequisite to putting in place the controls required, and making available the resources for the necessary investment in personnel, training and technology. The last of these will be particularly important.

Operators should ensure that they have IT personnel and systems with sufficient expertise and functionality (especially relating to data management and analytics) to meet growing regulatory expectations and increased competition.

There is, of course, an advantage to moving early. Individuals with the technical skills required are in short supply, and demand for them will only grow as time goes on. The demand for highly qualified compliance personnel will also increase. Investing in the right kind of systems and controls will pay dividends.

Operators should not be cowed by recent events and concerns about a tougher regulatory environment. The key is to work smarter to minimise risk, attract the right kind of customer and turn a decent profit. This means using resources more effectively, better horizon scanning- and keeping the regulators off their back.

In the longer term, comfort will be found. First, the developing regulatory environment is likely to make life increasingly tough for unscrupulous competitors who are likely to be marginalised or driven out. Second, as enhanced compliance systems and cultures become imbedded, the relative cost and disruption will level out. Third, those operators who establish and brand themselves as leaders will inevitably gain competitive advantage and attract new business and investment. Finally-for those with ambitions further afield — the advent of sports betting in the US will open up very significant new opportunities and not a dollar of investment in compliance will have been wasted.

Whichever way the current challenges are viewed, the stakes are high — but the rewards are there for those who are in it for the long game.

Other uses of the term

4211d47521f01ad91cd9279d2f7fb8ba.jpgGloria Mundi, or The Devil addressing the sun, a cartoon showing the British politician Charles James Fox standing on a roulette wheel perched atop a globe showing England and continental Europe. The implication is that his penniless state, indicated by turned-out pockets, is due to gambling.

Many risk-return choices are sometimes referred to colloquially as «gambling.»[42] Whether this terminology is acceptable is a matter of debate:

  • Emotional or physical risk-taking, where the risk-return ratio is not quantifiable (e.g., skydiving, campaigning for political office, asking someone for a date, etc.)
  • Insurance is a method of shifting risk from one party to another. Insurers use actuarial methods to calculate appropriate premiums, which is similar to calculating gambling odds. Insurers set their premiums to obtain a long term positive expected return in the same manner that professional gamblers select which bets to make. While insurance is sometimes distinguished from gambling by the requirement of an insurable interest, the equivalent in gambling is simply betting against one’s own best interests (e.g., a sports coach betting against his own team to mitigate the financial repercussions of a losing season).
  • Situations where the possible return is of secondary importance to the wager/purchase (e.g. entering a raffle in support of a charitable cause)

Investments are also usually not considered gambling, although some investments can involve significant risk. Examples of investments include stocks, bonds and real estate. Starting a business can also be considered a form of investment. Investments are generally not considered gambling when they meet the following criteria:

  • Economic utility
  • Positive expected returns (at least in the long term)
  • Underlying value independent of the risk being undertaken

Some speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling:

  • Foreign currency exchange (forex) transactions
  • Prediction markets
  • Securities derivatives, such as options or , where the value of the derivative is dependent on the value of the underlying asset at a specific point in time (typically the derivative’s associated expiration date)

Types

Casino games

While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in a casino setting.

Table games

9eaf1b3b47d085b1c0599e399e016468.jpg

The Caesars Palace main fountain. The statue is a copy of the ancient Winged Victory of Samothrace.

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A pachinko parlor in Tokyo, Japan

dfb0653885a0644d19a0816883710c4f.jpg

Mahjong tiles.

Electronic gaming

  • Pachinko
  • Slot machine
  • Video poker
  • Video bingo

Other gambling

  • Bingo
  • Keno

Non-casino games

Gambling games that take place outside of casinos include Bingo (as played in the US and UK), dead pool, lotteries, pull-tab games and scratchcards, and Mahjong.

Other non-casino gambling games include:

  • Card games, such as Liar’s poker, Bridge, Basset, Lansquenet, Piquet, Put, Teen patti
  • Carnival Games such as The Razzle or Hanky Pank
  • Coin-tossing games such as Head and Tail, Two-up*
  • Confidence tricks such as Three-card Monte or the Shell game
  • Dice-based games, such as Backgammon, Liar’s dice, Passe-dix, Hazard, Threes, Pig, or Mexico (or Perudo);

*Although coin tossing is not usually played in a casino, it has been known to be an official gambling game in some Australian casinos[40]

Fixed-odds betting

Fixed-odds betting and Parimutuel betting frequently occur at many types of sporting events, and political elections. In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various financial indices, the winner of television competitions such as Big Brother, and election results.[41] Interactive prediction markets also offer trading on these outcomes, with «shares» of results trading on an open market.

Parimutuel betting

One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

Sports betting

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Tokyo Racecourse in Tokyo, Japan.

Betting on team sports has become an important service industry in many countries. For example, millions of people play the football pools every week in the United Kingdom. In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball.

Virtual Sports

Based on Sports Betting, Virtual Sports are fantasy and never played sports events made by software that can be played everytime without wondering about external things like weather conditions.

Arbitrage betting

Arbitrage betting is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event, regardless of the outcome. Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible by the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage.

Other types of betting

One can also bet with another person that a statement is true or false, or that a specified event will happen (a «back bet») or will not happen (a «lay bet») within a specified time. This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.

Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker).

allows gamblers to wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple «win or lose» outcome. For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout.

Staking systems

Many betting systems have been created in an attempt to «beat the house» but no system can make a mathematically unprofitable bet in terms of expected value profitable over time. Widely used systems include:

  • Card counting – Many systems exist for Blackjack to keep track of the ratio of ten values to all others; when this ratio is high the player has an advantage and should increase the amount of their bets. Keeping track of cards dealt confers an advantage in other games as well.
  • Due-column betting – A variation on fixed profits betting in which the bettor sets a target profit and then calculates a bet size that will make this profit, adding any losses to the target.
  • Fixed profits – the stakes vary based on the odds to ensure the same profit from each winning selection.
  • Fixed stakes – a traditional system of staking the same amount on each selection.
  • Kelly – the optimum level to bet to maximize your future median bank level.
  • – A system based on staking enough each time to recover losses from previous bet(s) until one wins.

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