iGaming in Asia

Continuing on from my post of picking a casino, I thought maybe we can switch it up today.
Between the next 4th and 6th of March, Macau will be hosting the next edition of the iGaming Asia Congress.

The event is focused in getting a comprehensive overview of the sector strategies and new marketing and development actions to be followed in the Asiatic region. Its the perfect occasion for you to study the efficiency of your business, to make new contacts and try to find partners in this part of the Globe, in order to expand your field of action.

For Europeans (and Americans), the Asiatic region could mean a crucial partnership, since we all know how big are developing some of these countries and their economies. Also, thee countries are experiencing changes in the laws, going from being really restrictive to being really flexible. Asia has realized that there is an important business opportunity in the gambling field, and its willing to exploit it. Not long ago we read in the news how the ambitious project of Eurovegas in Spain got canceled. Sheldon Adelson tried to justify this decision by blaming the Spanish authorities of not cooperating with the project demands. But the real story behind is that he got better offers in Asia, and most probably we will witness the eventual conversion of Eurovegas into Asiavegas, probably in Japan. This way, Japan will strengthen its touristic power, becoming probably the main touristic destination in Asia.

During the 3 days that the event lasts, visitors will have the opportunity to gain new knowledge about the regional and global legislation affecting the region’s gaming operators, how to approach Asian partners, and an introduction about marketing in the Asiatic region. Its very important to understand the social, cultural and political differences between Asia and the rest of the Globe.

For those who don’t know much about Asia’s geography, Macau is located in China. It was a Portuguese Colony until 1999, being then the last colony in Asia. You can find more information about Macao here: http://en.wikipedia.org/wiki/Macau

The Gambler’s Fallacy Explained

A gambler’s fallacy can actually be explained with the help of a very simple example. Let’s say that we came to you and told you that we could flip a coin 10 times and we can guarantee that we get heads all 10 times. We also allow you to check the coin that we’re going to flip to ensure it is genuine. What kind of odds would you give us. 100 – 1 or 1000 – 1? You could actually offer us with a 1000 – 1 odd and still expect to win. Now, what would you do if we get heads 8 times? Would you give us the same odds for the 9th and the 10th flip? What would you do if we get heads 9 times? Would you give us the same odds for the 10th flip? This would be a huge mistake and a grave error on your part. And this error is what constitutes the gambler’s fallacy.

The gambler’s fallacy explained

According to the gambler’s fallacy, previous trials are said to influence the odds for random events occurring. For example, when heads end up appearing 9 times out of nine, you would feel foolish to still offer the person tossing the coin with odds of 1000 – 1, even though it has no say on whether the person can still toss the coin and land with heads in the 10th time. Simply put, even though the person managed to get 9 heads at a stretch, the probability of heads appearing on the 10th flip is still 50-50. Remember, you might have a memory, but the coin definitely doesn’t have any memory.

How does this affect gambling

Gambler’s fallacy is considered to play a huge role in gambling. Those who gamble tend to search for patterns in order to offer themselves with an increased chance of winning the game. For example, if black comes up a number of times simultaneously in a game of roulette, players would most likely end up betting on red. Similarly, if a player loses a few spins in a game of roulette, he/ she might end up doubling the bet thinking that the odds of winning and making up for the losses could be better. In fact, the Martingale System makes players double their bet after every loss is living proof of gambler’s fallacy. If you look at if from a short term point of view, losses could end up occurring a number of times in a row, without changing the game in any way whatsoever. Gamblers blindly believing on this belief could end up having a serious problem.

You should understand that believing in gambler’s fallacy exists only for events that consider replacements, wherein the conditions are known to be the same for each and every trial. If you’re playing games like blackjack, certain cards are not replaced. Therefore, in these cases, prior events could have a major bearing on future events. This is considered to be the fundamental basis of card counting.

The History of Online Gambling

Online gambling has a checkered history with the public sentiments shifting for and against it from time to time. Gambling was mainly practiced in the form of lotteries, until it was completely banned in the US in the 1890s. It made a comeback in the late 1920s and it began to become popular once again after being legalized in Nevada in the year 1931. Las Vegas transformed into the prime outlet for people to gamble their money until the late 1970s, after which more and more casinos began to be legalized.

The history of online gambling isn’t as vast as that of physical gambling. Online gambling first made an appearance in the mid 1990s. In the year 1994, Antigua and Barbuda allowed gambling licenses to companies that applied to run online casinos. Microgaming, a major online gambling software provider, was also founded in the same year. The Gaming Club, an online casino launched by Microgaming, is considered to be the first online casino that was introduced in the world. In the year 1996, the Kahnawake Gaming Commission was established. It took the charge of regulating online gambling from the Mohawak region of Kahnawake and catered to gaming license issues being faced by online casinos. Intertops became the first online sportsbook that opened its doors to sports betting enthusiasts in the year 1996. It had its offices in St. Johns, Antigua.

The main surge in popularity for online gambling came in the late 1990s as the number of online gambling websites increased from 15 to 200 in a single year. In fact, according to reports, online gambling revenues exceeded $830 million in 1998, the year when online gambling evolved as an industry. As a result, Multiplayer Online gambling and the social aspects of gambling such as player chats and interaction avenues were introduced in the year 1999.

Planet Poker was the first website to offer multiplayer poker rooms to its customers in the year 1998. However, despite being the first, it failed to capture the markets. Paradise Poker, Party Poker and PokerStars opened between 1999 – 2001. Together, these three online poker giants managed to grab the attention of the world and began to attract millions of online poker players. Party Poker emerged as the largest poker room in the world and its parent company became the first online gambling company to go public.

By the year 2000, the Australian Federal Government brought about the Interactive Gambling Moratorium Act. This made it illegal for any online casino that was not licensed and operating before the month of May 2000 to operate. The number of people enjoying the benefits of online gambling rose to 8 million in the year 2001 and this number continued to rise in the following years, despite innumerous legislations and lawsuit challenges that the industry faced as a whole. Such was the growth achieved by the industry, that it managed to make a revenue of $21 billion in the year 2008. The year 2008 also saw Italy and South Africa join the list of countries to endorse and regulate online gambling as a legal form of entertainment.

Ever since the EU ruled in favor of online gambling, the growth of online gambling as an industry has been unparalleled. A number of jurisdictions such as Malta, Gibraltar, Isle of Man and UK offer online gambling licenses.

Are online pokers safer to gamble in?

There are hundreds of online casinos to choose from – some are known to be excellent, some offer a decent experience and some are also known to be quite pathetic. However, as long as you make your selections properly and choose a reputed online casino to gamble in, you should be able to enjoy a safe environment that offers you with a sense of security, fair gameplay and transparent mechanisms.

There are a number of reasons why online casinos are considered to be safer to gamble in when compared to land based casinos. First and foremost, players travelling to a land based casino always face the risk of untoward incidents that might occur on the way. Moreover, certain land based casinos are known to be based in far out areas and the surrounding neighborhoods have been deemed unsafe after dark.

Furthermore, the reputable online casinos are also known to be extremely fair towards their players. If you’re aware of how casinos operate, you should be aware of a concept known as house edge. A house edge basically determines the profit that the casino makes on each and every bet made by the player. Online casinos are known to offer more favorable house edge for players because they have lower overheads and can operate with lower profit margins as well.

The massive competition necessitates the need for online casinos to offer their players with safe and secure environments in order to survive. As a result, a vast majority of these online casinos are known to be extremely fair towards players. They use random number generator softwares which are checked by independent authorities. Many online casinos also make use of highly reputed auditing firms to ensure that their websites offer fair and impartial gameplay.

Players are required to provide personal information to online casinos in order to get access to the gameplay. To help protect this information, all reputed online casinos use extremely sophisticated encryption technologies to ensure that the data is transferred properly and safely to the casino. This helps to keep your personal and financial information safe and secure.

Online casinos also lay a great deal of stress on the privacy of their players. Their privacy policies are also known to exceed those followed by land based casinos as they do not take film footage or photographs of their players. Anyone playing at the online casino can enjoy their favorite gambling games without having to worry about being covered on film.

Finally, all players are offered with equal treatments at online casinos. There are no discriminations between the high rollers and low rollers, men and women, young and old players and caste and creed. Online casinos do not offer certain people with specific favors and everyone is offered with the same set of rules and tier based promotional packages. The same could not be said about land based casinos, particularly when they have a major celebrity playing at the casino.

Thoughts that cripple your stacks while gambling

Great gamblers are known to be great for a reason. They have that unique ability of playing the mind game as well as the physical game. In fact, when it comes to player oriented gambling games, the mind is what separates the best from the rest. That being said, thinking is always a boon, but thinking too much can sometimes lead to your downfall. If you’re playing bet oriented games like poker, you need to be aware of a few thoughts that can cripple your stacks while gambling.

“I’ll keep playing until I can recover my investments”
Investments? What investments? After all, the idea of gambling is to have fun and predetermine a sum of money that you can afford to lose. There is no such thing as luck and there is definitely no such thing as investments in the world of gambling. You need to understand that if you don’t play properly, you’re likely to be the main reason behind your own downfall. Think logically. If you’ve already lost a great deal of money, the chance of winning it all back is next to nothing. For all you know, you could end up losing even more money.

“He’s bluffed before! He’s probably bluffing now as well”.
Never assume a player to be bluffing. Yes, most gamblers are looking for reasons to not fold their cards, but you really need to stand somewhere in the game in order to call a bluff. The thought that your opponent is bluffing his or her way through can end up having either one of the two effects – it can cripple your opponent’s stack considerably or it can end up crippling your own stack should you fall prey to the bluff. Make sure that you’re always on your guard when it comes to bluffs and always call a bluff only when you have something to back your game with.

“I really need to bet this time”
Being aggressive is a great thing when it comes to gambling, but being over aggressive can lead to your downfall. The key to being successful in a no limit table is to understand that aggression should be planned and intentional, it should not be automatic. The problem with aggressive betting is that once you start off, there is no going back. So make sure that your aggression is based on the strength of your cards and not on appearances.

“Good luck is just round the corner. I lost so much, now it’s time to win”
Every gambler needs to have a predetermined limit and understand how much can they safely afford to lose without having to alter their lifestyles. Once you cross this limit, make sure that you force yourself to walk away, irrespective of how dejected or sad you feel. It is always better to feel sad than to feel broke. The problems start when players begin to listen to their hearts and get carried away. There is no such thing as the time to win or lose. Remember, without discipline you’re likely to end up losing all your money (and a lot more) in gambling.

“I’ve already played too much to fold”
Yes, you might have already bet a huge sum of money, but how do you define a huge sum in a no limit game. Ultimately, you need to be able to draw the line, particularly if you have doubts about your own hand. Remember, it is always better to cripple your stacks than to go all in and lose all your chips. When it comes to gambling, always listen to your judgement and make sure that your mind dictates the game play. There’s no place for emotions in gambling!

The spread of Online Gambling

Gambling is luring an individual of an opportunity to win something of a significantly greater value but while involving risk. On the contrary, online gambling, also known as internet gambling or iGambling is a terms used for gambling over the internet. It is welcomed by governments to their districts in order to help them raise their tax revenues. Over time, gambling has turned out to be one of the most profitable business opportunities across the globe. With countless companies exploring options over the internet, gambling too is on a look out. Some of the best examples of online gambling websites are Slotland, Texas Holdém which allows its user to choose from a variety of games as options and transact money safely. Internet gambling includes a variety of options like online casinos which offer almost every game available in land based casinos.

Working of an internet casino includes login by a customer and choosing from the variety of games he wishes to play. It directs him to depositing money into an account created by him and thereby allowing him to place bets and gamble at his own discretion. Wins and losses are both calculated electronically reducing scope of bias. Losses will automatically be deducted from the user account and wins will be made available through cheques sent directly to the address of the user.

Online gambling has it own pros and cons attached to it. Its benefits are countless. First and foremost being convenience. One can easily device strategies while being at the comfort of his home. Even the most inaccessible opportunities can be explored. Secondly, it is beginner friendly. It helps you understand your owns strengths and plan the game before investing his hard earned money in it. Thirdly, the option of online gambling offers a variety of gaming opportunities to its user. The list is endless. One can easily switch games according to their likes and dislikes which happens to be merely a click away. Lastly, but definitely most importantly, online gambling is a way safer option than any land based casino. It helps you avoid worrying over getting robbed. Also, with technology in today’s world it is entirely safe to transact your money online and allowing your money to be safe in your account. Personal security including credit card details and other personal information are safe and guaranteed under license agreements. An option of insurance under frauds for online gamblers is also available.

Besides its benefits, online gambling has its own share of cons as well. With advent of online gambling, problem of easy accessibility has arisen. Lure of winning more money has led to problem of addiction to online gambling in many. They risk their homes, cars, entire salary etc. into gambling. Secondly, with websites offering absolutely no limits over gambling allows users to risk huge sums of money.

It has been rightly said, “Excess of anything is bad”. With several pros and cons attached to online gambling, it is at the user’s discretion to understand and enjoy online gambling sensibly.

Some facts about jackpots

Nowadays, slot machines account for over 2/3 of casino profits, which is proof of how popular they have become. If you are a slot machine enthusiast, or if you find the idea of playing the slots appealing, one of the main reasons is probably the idea that you may win one of the jackpots.

Still, many people don’t understand exactly how jackpots work, so we’re going to tell you a bit about them and what you should keep in mind when going after them.

Types of jackpots

There are two types of jackpots: fixed jackpots, and progressive jackpots. Machines promising fixed jackpots are also called flat-tops. Their maximum output is fixed – for instance, hitting the jackpot will always get you let’s say 5,000 credits. Progressive jackpot machines have a meter which shows how large the jackpot is. The jackpot actually increases the more people play the machine. Sometimes, more machines are linked to the same jackpot. Playing either of them increases the value of the jackpot, and winning the jackpot on either of them resets the collective jackpot. The linked machines could be in the same casino or, in some cases, throughout the state. This is why progressive jackpots can be pretty high.

Although the value of a flat-top jackpot is lower, you generally have better odds of winning the jackpot at a flat-top than at a progressive machine. Unfortunately, that goes for winning chances in general. Progressive machines are generally tighter, because hundreds of machines can be linked to the same jackpot and it’s in the best interest of the establishment that the jackpot reaches values which will tempt players.

Jackpot values

The value of the jackpot for each of the machines should be displayed on the glass. Take a moment to read the information there, you will certainly find it useful. Identically looking machines may pay off different jackpots. You will notice that the differences between jackpots can be significant – sometimes one machine may offer a jackpot ten times lower than its identically looking neighbor.

While it’s your call which machine you play, you should know that smaller jackpots are usually easier to hit. The bigger the jackpot, the less likely it is you will win it. Then again, hitting the big jackpot once may equal hitting a smaller one several time, so it all depends on personal preferences and length of play really.

Progressive Jackpot requirements

You should know that a majority of slots only pay jackpots when the player has bet the maximum number of credits. This is similar to flat-tops, where the value of the jackpot payoff becomes larger the higher the bet.

Because you will need to bet the maximum amount to get a chance to win the jackpot, you should think what your betting range really is. Maybe choosing a lower denomination machine will allow you to play for longer and thus get more shots at the jackpot.

Slots can be really fun, but you can go through an impressive amount of money surprisingly quick. Take your time playing, and don’t press the auto-spin button. That way you will get to enjoy your experience more, for the same money.