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May Nevada gaming revenues down 4.7% on last year

July 9, 2010 Leave a comment

Nevada Gaming Control Board statistics for the month of May 2010 were released Wednesday, showing disappointing declines in revenue. Land gaming revenues across the state were $847.2 million in May, compared with nearly $889.2 million in the comparable period in 2009.

Casinos operating on the Las Vegas Strip were hard hit, reporting a 6.4% drop to $450.2 million, mostly due to successful baccarat players making inroads into profits.

“Baccarat has been a big positive for Nevada, but not in May,” said Frank Streshley, a spokesman for the Gaming Control Board, reporting that gamblers on The Strip bet $734.8 million on the game, an increase over the same period last year of 7.1%.

However, the hold on baccarat declined to 8.26% from the norm of 13.35%, hammering the casinos and leaving them with 37.1% less hold than last year..

During May, Nevada land casinos won $565 million from slot machines, down less than 1% from a year ago. Punters put $9.3 billion into the slots, down 7.5%.

The casinos in the gambling state won $269.9 million on table games, a reduction of 13.9% compared to last May, as gamblers wagered $2.5 billion, up 1.3% from the same period in 2009.

However, over the five months of this year for which statistics are available, Nevada gaming revenues have declined less than a percentage point overall.

Casino revenues in Clark County fell 4.4%, but two revenues on the Boulder Strip were up 5% while North Las Vegas casino revenues rose 8.8%.

Downtown casino revenues declined to $42.9 million from $43.2 million, a 0.7% drop and the lowest decline the market has seen since June 2008.

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New Hampshire Online Gambling Plan Has Lawmakers Perplexed

June 25, 2010 Leave a comment

While many states are attacking and raiding Internet cafes, the state of New Hampshire has decided to take the idea and make it work for them. Starting July 1st, online gambling will be offered in the state where lawmakers recently rejected casino gambling.

PlayNowNH will offer customers the opportunity to buy $100 worth of credit at lottery retailers. The gamblers may then take that credit and go online to pick which of the games they would like to play. The games all play out similar to scratch off tickets.

The determination of a win or a loss is made when the credit is bought. That allows New Hampshire to circumvent the Unlawful Internet Gambling Enforcement Act that took effect on June 1st. The UIGEA calls for financial institutions to block transactions to and from online gambling sites.

If a gambler chooses to do so, they may find out if they won on the lottery tickets when they purchase them. They do not need to go online to play the games to find out if their tickets are winners. Even with the state lottery running the online gambling, some lawmakers are miffed that this type of gambling is allowed.

“I’m sure you can say it’s no different (than scratch tickets), but we know from the research that’s been done there is nothing more addictive than being able to play games on the computer,” said House Finance Chair Marjorie Smith, as reported by The Associated Press.

Other states in the Northeast are seeking a much larger version of Internet gambling in the future. New Jersey lawmakers are considering regulating online poker. Florida and California also have legislators pushing for regulated online gambling.

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American Idol Gambling To Include Fifteen Year Old Contestants

June 22, 2010 Leave a comment

Online sports books such as Bodog have started to offer American Idol betting odds over the past couple of years. Gamblers have taken to the proposition betting, and millions of dollars is wagered each year on the contestants that reach the top twelve.

On Monday, American Idol announced that next season, the age limit for contestants will be dropped from sixteen to fifteen. That makes millions of teeny-boppers excited that they can try out, but it places sports books in a further dilemma.

There has always been controversy surrounding gambling on college athletics because the majority of the participants in those sports are amateurs and young adults. American idol has made things worse for odds makers who must place odds on sixteen year-old contestants if they make it far in the competition.

Other questions surround the curious decision to lower the age limit. Critics point to last year, when Aaron Kelly and Katie Stevens seemed ill-equipped to handle the emotional strain that the competition places on the singers.

Justin Bieber is the biggest star in the world right now in the teenage pop scene, and his success may have prompted the move by American Idol. Opponents of the new age limit, however, still believe that there are only so many Bieber’s in the world.

“Justin Bieber has been marketed correctly from the beginning,” said AI fan Beverly Schnapp. “These contestants have to wait in long lines and deal with tremendous emotional strain during the audition process, and those who do not make it will be devastated. It will wear on them for the rest of their lives.”

Of course, the biggest news that will come from American idol this summer will not be the age limit change, but the announcement of who will replace Simon Cowell as the fourth judge on the show. The judges are not expected to see Idol contestants until September, but casting calls will begin this summer in front of Idol producers.

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Jake And Vienna Break Up, Gamblers Who Chose Girardi Still Win

June 22, 2010 Leave a comment

Reality television competitions such as American Idol and Dancing With The Stars have become popular betting propositions at online sports books. The bachelor is another of these shows where gamblers can pick from the finalists which one they believe will win.

Success once the show is over has nothing to do with a gambler and his bets. American Idol winners have made gamblers thousands of dollars, and then gone on to have sub par careers when it comes to making music after the show.

The Bachelor has produced some of the biggest online gambling winners, and when Jake Pavelka chose Vienna Girardi on last years show, bettors that wagered on Girardi rejoiced. Now, sources have revealed that the couple has broken off their engagement.

In a sporting event, it is rare that a ruling is made after the game is played that determines the outcome. In those cases, Las Vegas sports books usually stick with their initial ruling. The same can be said for this break up. Although the couple is no longer together, the fact that Girardi won the competition has not changed.

Reality shows can offer gamblers high rewards if they can correctly pick the winner from the beginning of the competition. Two seasons ago on American Idol, Kris Allen had odds of sixty to one early in the live shows. Allen went on to win, and returned sixty dollars for every one bet to gamblers.

Dancing with the Stars is a little easier for odds makers to handicap. The majority of winners on DWTS have been athletes. After several seasons, sports books have adjusted their odds and are now making athletes the favorites.

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Online Gamblers Receive A Scare From BankAtlantic System Glitch

June 15, 2010 Leave a comment

BankAtlantic’s customer service personnel had an overly busy Monday. The financial institution launched a new online banking system over the weekend that went live on Monday. Many account holders, however, had difficulty logging into their system.

For online gamblers, it was a scary morning. The Unlawful Internet Gambling Enforcement Act went into effect on June 1st, and the law placed the burden of stopping online gambling transactions on financial institutions.

“When I woke up and couldn’t get into my bank account, I thought maybe the bank had frozen my account because of my online poker transactions,” said one online gambler who wished to remain anonymous. “Later in the morning, though, when I got through to customer service, I realized that it was a glitch that was affecting many customers.”

BankAtlantic representatives quickly attempted damage control, claiming that the technicians were working diligently to fix the glitch in the new system. The representative also encouraged customers to stay calm and try again later to log-in.

“We’re very concerned. We want this resolved as quickly as we can,” said COO Lloyd DeVeaux, as reported by the South Florida Sun-Sentinel. “Once we get this resolved, we’re sure customers will be happy with all the tools available in the new online system.”

The system changes for BankAtlantic’s online site appear to have nothing to do with the UIGEA. Although the government has placed the burden of the law on the financial institutions, many have argued that the banks do not have the programs necessary to block the transactions.

While some of the financial institutions have vowed to do their best to uphold the law, the logistics are a nightmare. Representatives of Wells Fargo and other banks told Congress last year that they did not have resources to block online gambling transactions, but that did not sway lawmakers to stop the UIGEA from taking effect.

Representative Barney Frank has proposed legislation that would overturn the UIGEA and set up a regulated system in the US for Internet gambling. Rep. Frank is expected to push his legislation either later this year or shortly after the November elections.

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New Xbox 360 Is An Online Gamblers’ Dream Gaming Console

June 15, 2010 Leave a comment

The details of the new Xbox 360 have been revealed, and the game console, much like the previous version, is a dream for online gamblers. The new console will allow players to go online and battle their friends in some of the top games available on the network.

PlayStation and Xbox have taken online gambling to the next level. While many gamblers in the past have been limited to betting on sports events, they now can wager on their video game skills. It is a phenomenon that is catching on across the world in recent years.

The ability to connect to the Internet has raised the bar for both PlayStation and Xbox. Gamers can find challengers at any time of day. While old school gamers had to wait until one of their friends came over to play Donkey Kong or Pacman, players today need only to have one of these high end game consoles and an Internet connection.

“My friends and I have set up an entire league, complete with trophies and prizes based on our performance in the league,” said video game player, Mark Barron. “This is a much better way for me to spend my money than playing at an online casino or betting on live sports.”

Many gamblers are taking that same approach. When gamblers place a wager on an NFL game, they are at the mercy of the teams playing in that game. With Xbox, gamblers can bet on their own skills. Being that Xbox and PlayStation games are considered games of skill, some legal analysts actually believe the online betting taking place over the games may be legal.

Of course, the US government is attempting to crack down in Internet gambling, but there is nothing in the new Unlawful Internet Gambling Enforcement Act that would suggest that betting on an Xbox match would be illegal.

The Xbox 360 launched on Monday, and although it does not offer many new features not found in the previous version, it still offers the one thing online gamblers crave, a connection to the Internet.

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Mariah Carey Pregnant: Betting Odds On Baby Name Coming Soon

June 2, 2010 Leave a comment

The gambling fever in the US will increase in the coming months if the rumors about Mariah Carey are true. Several reports indicate that pop diva Carey is pregnant with her first child, leading many gamblers to begin saving money for the upcoming round of betting.

Carey and Nick Cannon have attempted to keep the pregnancy under wraps, but word has finally leaked. The rumor mill heated up when Carey bowed out of Tyler Perry’s “For Colored Girls Who Have Considered Suicide When the Rainbow is Enough.”

Cannon has been coy in dealing with rumors in recent months. He has made comments about the couple’s dog being pregnant, and some believed that was his way of letting the cat out of the bag about Mariah’s pregnancy. Through it all, however, no admissions were made by either star about the pregnancy.

“They’re both very excited and very happy,” said a source close to the couple to RadarOnline.com today, “Mariah and Nick want to keep the pregnancy quiet as long as they can.” The news from Wednesday sent online sports books scurrying for betting props on the pregnancy.

In the past, it has become a popular gambling option for bettors to pick names of celebrity children and dates on which their babies would be born. Once the rumors of Carey are confirmed, it will likely only be days before the sports books have some sort of odds on the pregnancy.

Office pools will also be started by celebrity-crazed fans in the US. The celebrity gambling in the workplace is nothing new, and it reached a fever pitch when Angelina Jolie was pregnant. Jolie and husband Brad Pitt are two of the top celebrities in the world.

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