gambling   4166

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The High Is Always the Pain and the Pain Is Always the High - The Morning News
A really moving account of gambling addiction, and how it is viewed differently than e.g. substance abuse.
jay-kang  gambling  poker 
yesterday by irace
The Gambler Who Cracked the Horse-Racing Code
Veteran gamblers know you can’t beat the horses. There are too many variables and too many possible outcomes. Front-runners break a leg. Jockeys fall. Champion thoroughbreds decide, for no apparent reason, that they’re simply not in the mood. The American sportswriter Roger Kahn once called the sport “animated roulette.” Play for long enough, and failure isn’t just likely but inevitable—so the wisdom goes. “If you bet on horses, you will lose,” says Warwick Bartlett, who runs Global Betting & Gaming Consultants and has spent years studying the industry.
What if that wasn’t true? What if there was one person who masterminded a system that guaranteed a profit? One person who’d made almost a billion dollars, and who’d never told his story—until now?
machinelearning  horseracing  betting  gambling 
8 days ago by DirkSonguer
The Beginner's Guide to Casino Gambling
You’re finally in a twinkly, noisy casino. You’ve filled up at the buffet and you’re itching to roll the dice and see if lady luck is on your side. Well hold on there buckaroo. You may have big dreams of hitting the jackpot and retiring on your own private island, but that’s not going to happen here. Gambling is a good time and can offer a nice rush when things shake out in your favor, but it’s not how it looks in the movies.
gambling  vegas  guide  article  gaming  blackjack 
15 days ago by thecore
15 countries and one US state team up to fight gambling in video games • Ars Technica
Kyle Orland:
<p>an international group of regulators from 15 European regulation bodies and Washington state in the US signed a declaration stating their increasing concern "with the risks being posed by the blurring of lines between gambling and other forms of digital entertainment such as video gaming."

The declaration identifies four specific areas of concern:

• Skin betting—Third-party sites that allow users to wager money or in-game items for a chance at earning better items. Valve has already faced pushback from Washington State regulators for Steam's role in "facilitating" such skin-gambling schemes.<br />• Loot boxes—In-game purchases that offer randomized rewards. Some loot boxes have already been ruled as illegal in the Netherlands and Belgium, and there have been some attempts to do the same from some US lawmakers.<br />• Social casino gambling—Apps like Big Fish Casino in which users can optionally spend money on virtual gambling chips if they don't feel like waiting for the in-game currency to replenish. A US District court ruled Big Fish Casino constituted illegal gambling earlier this year, and there are multiple active lawsuits surrounding other such games.<br />• "The use of gambling themed content within video games available to children."—In addition to the above, this would seemingly apply to games with poker or slot-machine-style minigames (or, uh, Casino Kid for the NES).</p>

Overdue. Loot boxes in particular.
videogames  gambling 
4 weeks ago by charlesarthur
The Gambler Who Cracked the Horse-Racing Code - Bloomberg
Bill Benter did the impossible: He wrote an algorithm that couldn’t lose at the track. Close to a billion dollars later, he tells his story for the first time.
articles  gambling  sports_betting  sports_analytics 
4 weeks ago by gmisra

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