The photo here is an excerpt from the gambling site Bodog’s info graphic, which puts things pretty bluntly. The first round of the tournament is in effect today and tomorrow, capping off a week of water cooler bracket chatter. [More]
gambling
Directly Pitch Your Stories To Pro Video Journalists
By 11.11.09
VJ Movement is a new site that lets everyday people pitch their ideas for news stories to a group of selected global professional video journalists who then go on to produce them and post them online. Here’s one about a poor Chinese immigrant turned professional gambler who plays poker so that his kids can live the American Dream in Orange County, California.
Las Vegas Builders Say No More New Casinos For The Next Decade
By 10.6.09
We hope you like the current casinos in Las Vegas, because that’s what you can look forward to for the next 10 years or so. No newly built Mount Rushmore facade, no Mini Grand Canyon indoor shopping avenue, no Godzilla-shaped hotel—nothing new to delight the vulgar parts of your optic nerve. The Wall Street Journal says after a decade in which casinos spent more than $30 billion on expansions, they’re now going to pay off debt and focus on “branding, marketing and customer loyalty.”
Recession Hits Casinos, Hurting State Tax Revenues
By 9.10.09
States that put it all on double zero and let it ride may start wishing they’d listened to Ace Rothstein, and walked out instead of choosing to take the money — and the hammer. The casino industry — once considered recession-proof — is starting to feel the pinch of the current downturn. The New York Times reports that some of the biggest gambling havens, including Nevada, New Jersey and Illinois, have seen massive drops in gambling-related tax revenues. New Jersey’s take was down $62 million, Nevada dropped $122 million, and Illinois spun and lost $166 million in tax revenues.
Atheists Sell Pet Care Service To Christians Anticipating The Rapture
By 9.2.09
An atheist in New Hampshire is hiring out pet care services to Christians who believe that there will be a rapture and they will leave behind their pets. He won’t tell Mainstreet whether the business is very successful—he says his clients number “more than one and less than 175,” but it’s certainly an interesting way to bring two traditionally opposing groups together under a common (profit-making) cause.
Crafty Michigan Credit Unions Implement A Lottery Worth Playing
By 8.2.09
Save to Win gives Michigan residents the chance to win the lottery simply by purchasing a certificate of deposit. Here’s how it works: residents who contribute at least $25 into a Save to Win CD are automatically entered into monthly drawings for a $400 raffle, and an annual drawing for a $100,000 jackpot. Even if you don’t win, you still have an interest bearing CD.
Want To Experience Retail Crack? Try Swoopo
By 7.20.09
Just in case that headline doesn’t make it clear: we do not recommend you try Swoopo, because you do not want to experience retail crack. Stay far, far away from Swoopo. Swoopo will feed into every gambling and spending impulse buried in the irrational parts of your brain, and suck up your money. There’s a reason the site describes itself as “entertainment shopping.”
Embezzling Fry's VP Once Gambled Away $8 Million In ONE DAY
By 2.17.09
The LA Times is reporting that former Fry’s executive and accused embezzler, Omar Siddiqui, once gambled away $8 million in a single day. According to the IRS, Mr. Siddiqui financed his gambling by taking at least $65.6 million in kickbacks from Fry’s suppliers. He’s been charged with money laundering and fraud, and if convicted, he faces 140 years in prison.
Tax Cat Buzzkill: Super Bowl Betting Wins Are Taxable
By 2.2.09
Did you participate in an office gambling pool or place a few bets with your friends? Well, bad news, big winner: those bets were illegal and your winnings are taxable.
Get Your Kids Addicted To Gambling At An Early Age With The Jack Potty Training Seat
By 1.30.09
Reader Jay sent us this link to a training potty with a built in slot machine that goes off whenever it detects a “deposit.”
Study: The Poorer You Feel, The More Lottery Tickets You Buy
By 9.27.08
Very Short List notes that “America’s lotto kiosks are currently reporting heretofore unheard-of earnings,” despite the average rate of return—53%—being less than slot machines. Researchers at Carnegie Mellon recently completed a study in which they primed people to feel relatively poor, then offered them a chance to buy lottery tickets, and the results suggest that the poorer you feel, the more likely you’ll waste your money on a lottery.
WaMu's Inability To Mail Letters Costs Man $3,400
By 8.27.08
Wamu’s fraud department has a problem sending letters. Just like another reader, Kristin, we posted about, Rob is having trouble disputing fraudulent charges on his account. He followed their every instruction, except to respond to the second letter WaMu sent out. How could Rob do such a foolish thing? Because it never showed up in his mailbox, a point, WaMu seems to think, is owing to, not their incompetence, but Rob’s general lassitude and weakness of character. Or something like that. Here’s Rob’s story…
Why You Fall For Dumb Things
By 4.10.08
The New York Times has an interesting series of tests and explanations that show why and how the human brain makes errors in estimating probability—and consequently, why we get suckered even if we think we’re overall pretty smart.
Hey Gamblers, Time To Bring A Sack Lunch, The Freebies Are Dying Up.
By 4.7.08
Since the first casino opened here 30 years ago, tour buses depositing herds of senior citizens out for the afternoon at the gambling house doorstep has been a big part of Atlantic City casino culture. It’s now one the industry is trying to move away from — gently — so as not to antagonize loyal patrons as it seeks more affluent bettors.
Lawsuit Says Verizon's Text Message TV Show Contests Are "Illegal Gambling"
By 3.29.08
A class-action lawsuit has been filed in California against Verizon and several third-party companies, alleging that they promoted illegal gambling by enticing customers to pay to enter contests in which there was an “infinitesimally” small chance of winning, reports RCRWireless. “The suit centers on 99-cent charges levied on wireless consumers who played contests associated with popular TV shows like ‘Deal or No Deal’ and ‘Sole Survivor.'” The plaintiffs claim that the contests were less promotional sweepstakes than “illegal lotteries designed to generate revenues far in excess of the value of the cash awarded.”
Google, Yahoo! And Microsoft Reach Settlement Over Illegal Internet Gambling
By 12.20.07
The companies were accused of receiving money from online gambling businesses to advertise illegal betting from 1997 through 2007.
Sands Casinos Lose Money, Wish You Weren't So Good At Blackjack
By 11.2.07
At the Las Vegas Venetian, earnings dropped 19 percent to $58.3 million. The casino’s winning percentage in baccarat, blackjack and other games was 14.7 percent, below its forecast range of 20 to 22 percent and last year’s winning percentage of 23.4 percent. Gamblers also won more than forecast at the Sands Macao.
