Casino: 2008

Thursday, June 5, 2008

EUROMAT

EUROMAT is the European Gaming & Amusement Federation. It is a Brussels-based umbrella group for trade associations representing the gaming and amusement industry. It has active members in 14 European countries.[1]
Contents

1 History
2 Activities
3 Member Organisations
4 References
5 External links
History
The European Gaming and Amusement Federation EUROMAT was established in 1979. Until recently it was known as the European Federation of Coin Machine Associations.
Activities
Much of EUROMAT's work consists of monitoring EU developments and keeping member associations informed on upcoming legislation which may affect them. The organisation also collates and distributes information on the amusement industry. On occasion, EUROMAT will make representations to lawmakers.
Member Organisations
The following are member organisations of EUROMAT:
AutomatenVerband.at - Austria
Union Belge De L'Automatique (UBA) - Belgium
Bulgarian Trade Association of the Manufacturers and Operators in the Gaming Industry (BTA MOGI) - Bulgaria
Dansk Automat Brancheforening (DAB) - Denmark
Bundesverband Automatenunternehmer E.V. (BA) - Germany
Deutscher Automaten-Großhandels-Verband E.V. (DAGV) - Germany
Verband der Deutschen Automatenindustrie E.V. (VDAI) - Germany
Magyar Szerencsejáték Szövetség (MSZSZ) - Hungary
Irish Gaming & Amusement Association (IGAA) - Ireland
Sezioni Apparecchi per Pubbliche Attrazioni Ricreative (SAPAR) - Italy
Nacionaliné Lošimu ir žaidimu Verslo Asociacija (NGGBA) - Lithuania
Van Speelautomaten Branche-Organisatie (VAN) - Netherlands
Izba Gospodarcza - Producentów i Operatorów Urzadzén Rozrywkowych (IGPOUR) - Poland
Asociatia Organizatorilor Si Producatorilor De Jocuri De Noroc Din Romania (AOPJNR) - Romania
Asociación Española de Empresarios de Maquinas Recreativas (FACOMARE) - Spain
Confederación de Associaciones y Federaciones de Empresarios del Recreativo (COFAR) - Spain
British Amusement Catering Trades Association (BACTA) - United Kingdom
EUROMAT is supported by a secretariat based in Brussels, and an executive committee known as the ExCom. The ExCom is elected by member associations at a general meeting held every year.
Source : Wikipedia

Native American gambling enterprises

Native American Gambling Enterprises comprise gambling businesses operated on Indian reservations or tribal land, which have limited sovereignty and therefore the ability to exist outside of direct state regulation.
In 1987 the U.S. Supreme Court recognized that, as sovereign political entities, federally recognized Native American tribal entities could operate gaming facilities free of state regulation. Congress soon enacted the 1988 Indian Gaming Regulatory Act (IGRA), which sets the terms for how Native American tribal entities are permitted to operate casinos and bingo parlours. Tribal entities such as the Chickasaw Nation and the Choctaw Nation in Oklahoma near large cities have been particularly successful. Generally, a tribal entity is permitted to operate gaming facilities if anyone in the state is permitted to.
Initially there was hope that tribe-operated casinos would provide a source of income for Native American communities and aid ongoing reservation economic development. Many tribal governments have seen substantial improvements in their ability to provide public services to their members, building schools, making infrastructural improvements, and shoring up the loss of native traditions. Tribal gaming operations have not been without controversy, however. A small number of tribes have been able to distribute large per-capita payments, generating considerable public attention. Others describe examples of small groups of people with dubious Native American heritage who have been able to gain federal recognition for the sole purpose of establishing a tax-exempt casino.[citation needed] In addition, some studies suggest that the presence of gambling establishments on reservations has led to an increase in the rate of compulsive gambling on reservations.[citation needed] Additionally, the national expansion of Indian Gaming has led to a practice critics call reservation shopping.[1] This term describes tribes that, with the backing of casino investors, attempt to locate a casino out of their indigenous homeland--usually near a large urban center. However, although authorized by the Indian Gaming Regulatory Act, only three such "off-reservation" casinos have been built to date.
In 2006, Congress introduced legislation to amend the Indian Gaming Regulatory Act to attempt to address some of the above concerns. The legislation would limit the ability of newly recognized tribes to open casinos and would place tighter restrictions on where casinos can be opened. The legislation has faced mixed support from tribes. Some tribes view it as an attack on their sovereignty whereas others view it as necessary to protect their own casino interests from those tribes that are outside the region. Further, the Bureau of Indian Affairs (BIA) has faced increasing pressure to tighten up regulatory approval and oversight of casino approvals. In particular, the BIA has been instructed by Congress to implement new procedures after two decades of IGRA's existence. These procedures would allow local communities to have more say in the siting of casinos in their community and would make the process of casino approval more transparent than it is today. To many tribes, however, the proposed regulations would further encroach on tribal sovereignty.
Contents

1 The Indian Gaming Industry
2 The IGWG
3 Further reading
4 External links

The Indian Gaming Industry
The most recent Indian gaming statistics, provided by the National Indian Gaming Commission (NIGC), indicate that there are approximately 400 Indian gaming establishments in the United States. These casinos are operated by approximately 220 federally recognized tribes and offer Class I, Class II and Class III gaming opportunities. The revenues generated in these establishments is close to $18.5 billion. Currently, the largest casino in the United States, Foxwoods Casino, is owned by the Mashantucket Pequot Tribe and located in Ledyard, Connecticut. The second largest casino in the world is located a few miles away, Mohegan Sun. Tribal casinos located in the eastern United States generated roughly $3.8 billion in FY02. Those located in the Central United States recorded gross revenues of approximately $5.9 billion, while those located in the Western United States generated close to $4.8 billion. Most of the revenues generated in the Indian gaming industry are from Indian casinos located in, or near, large metropolitan areas. Currently, 12% of Indian gaming establishments generate 65% of Indian gaming revenues. Indian gaming operations located in the populous areas of the West Coast (primarily California) represent the fastest growing sector of the Indian gaming industry. As suggested by the above figures, the vast majority of tribal casinos are much less financially successful, particularly those in the midwest and great plains. Many tribes see this limited financial success as being tempered by decreases in reservation unemployment and poverty rates, although socioeconomic deficits remain.
It is important to note that currently there are 562 federally recognized tribes in the United States, not all of which have chosen to game. However, it is safe to assume that the tribal gaming industry will continue to grow in the near term, as new casino and resort developments are built by tribes and America's general passion for opportunities to gamble (Las Vegas, poker tours, Internet, etc.), continues to flourish. There are currently a number of lawsuits pending which challenge the Indian Gaming Regulatory Act on constitutional grounds (see e.g. Warren v. United States)
The IGWG
In June 2004, in an effort to identify and direct resources to Indian gaming matters, the FBI and NIGC created the IGWG. The IGWG's purpose is to identify resources to address the most pressing criminal violations in the area of Indian gaming. This group consists of representatives from a variety of FBI subprograms (i.e. Economic Crimes Unit, Money Laundering Unit, LCN/Organized Crime Unit, Asian Organized Crime Unit, Public Corruption/Government Fraud Unit, Cryptographic Racketeering Analysis Unit, and Indian Country Special Jurisdiction Unit) and other federal agencies, which include Department of Interior Office of Inspector General (DOI-OIG), NIGC, Internal Revenue Service Tribal Government Section (IRS-TGS), Department of Treasure Financial Crimes Enforcement Network (FINCEN), Department of Justice (DOJ), and Bureau of Indian Affairs Office of Law Enforcement Services (BIA-OLES). The IGWG meets monthly to review Indian gaming cases deemed to have a significant impact on the Indian gaming industry. As a result of these meetings, several investigations have been initiated and the IGWG, through its member agencies, has provided financial resources, travel funds, liaison assistance, personnel resources, coordination assistance and consultation.
The IGWG works in the following manner:
1. If suspected criminal activities are taking place in the Indian gaming industry and the interested office/agency does not have adequate resources to investigate this matter, the office/agency contacts the Indian Country Special Jurisdiction Unit, FBIHQ, at 202-324-3666. This contact may come from the FBI or an outside source or agency.
2. A small group of IGWG members will convene to determine if the alleged criminal violation is a matter of "national importance" in its effect(s) on the Indian gaming industry. If so, the IGWG will invite representatives from the affected FBI division, other federal agencies (if appropriate), the affected United States Attorney's office, and IGWG member agencies to meet and further review the case.
3. During this review, the agency eliciting the support of the IGWG will make a case presentation. Following a full review, the IGWG will assist the requesting office/agency to identify and obtain resources to assist in the investigation.
4. Throughout the investigation, the IGWG will assist by providing "experts" to assist in the investigation; allocating special funding (i.e. facilitating TDY travel, Title III support, special forensic examination, etc.); conducting liaison with other federal agencies; facilitating the establishment of Indian gaming task forces, and/or providing consultation.
In order to properly detect the presence of illegal activity in the Indian gaming industry law enforcement offices with jurisdiction in Indian gaming violations should:
1. Identify the Indian gaming establishments in their territory.
2. Establish appropriate liaison with Tribal Gaming Commission (TGC) members, State Gaming Commission Representatives, State Gaming Regulatory Agency Representatives, and Casino Security Personnel.
3. Establish liaison with representatives from the NIGC and regional Indian gaming intelligence committees. Both will provide valuable information on scams, allegations of criminal wrongdoing, and other patterns of illegal activity.
4. Make proactive attempts during crime surveys to identify criminal activity in Indian gaming establishments.
5. Send investigators and financial analysts to training which provides them with the knowledge and skills they need to effectively investigate criminal activity in Indian gaming establishments.
Source : Wikipedia

Gaming law

Gaming law can be described as the set of rules and regulations that apply to the gaming or gambling industry. Gaming law is not exactly a branch of law in the traditional sense but rather a transversal gathering of a range of legal topics related to gaming which encompasses matters normally included in various branches of law, including constitutional law, administrative law, tax law, company law, contract law and criminal law.
In the United States, illegal gambling is a Federal crime if done as a business.[1] [2] However, each of the United States has its own laws regarding the regulation or prohibition of gambling.[3]
Law
Casino
Gambling Act 2005 of United Kingdom
Gaming Control Board
Indian Gaming Regulatory Act - United States
Interactive Gambling Act 2001 - Australia
Macau gaming law
Problem gambling Online gambling
Source : Wikipedia

Gaming Control Board

Gaming Control Board or "GCB" is a governmental body or agency charged with regulating casino and other types of gaming in a defined geographical area, usually a state, and of enforcing gaming law in general. The official name of this regulatory body varies among jurisdictions. The most frequent variations include substituting the word "Gaming" for either "Gambling" or "Casino"; substituting the word "Board" for "Commission", and sometimes omitting the word "Control". Use of the word "Gaming" instead of "Gambling" or "Casino" is a relatively recent development as it is considered to have fewer negative connotations. Also, it is more appropriate than "Casino" in jurisdictions where authorized gaming activity is not necessarily limited to traditional casino-style buildings.
Contents
1 Rules and Regulations
1.1 Licensing
2 Enforcement
3 Native American gaming control boards
3.1 Federal oversight
4 External links
4.1 Gaming Control Boards in North America
4.2 Gaming Control Boards in Australia
4.3 Gaming Control Boards in Europe
4.4 Gaming Control Boards in Asia
4.5 Gaming Control Board associations
5 References
6 See also
Rules and Regulations
Gaming Control Boards are usually responsible for promulgating rules and regulations that dictate how gaming activities are to be conducted within a jurisdiction. The rules and regulations stem from the jurisdiction's enabling act. Generally, the enabling act is passed by the legislature and sets forth the broad policy of the jurisdiction with regard to gaming; while the rules and regulations provide detailed requirements that must be satisfied by a gaming establishment, its owners, employees, and vendors. Typically, rules and regulations cover a broad range of activity, including licensing, accounting systems, rules of casino games, and auditing.
Licensing
Gaming Control Boards also have full authority to grant or deny licenses to gaming establishments, their ownership, employees, and vendors. Generally, in order to obtain a license, an applicant must demonstrate that they possess good character, honesty and integrity. License application forms typically require detailed personal information. Based upon the type of license being sought, an applicant may also be required to disclose details regarding previous business relationships, employment history, criminal records, and financial stability.
Generally, the gaming license application process and subsequent investigation is quite burdensome in comparison to the process of obtaining other government-issued licenses. The difficulty of the process is intended to dissuade participation by unsavory persons and organized crime.
Recently, in order to simplify the application process, various gaming control boards have collaborated on the design of "multi-jurisdictional" application forms. Persons or vendors who are involved in gaming in multiple jurisdictions may now complete one application form and submit copies to each jurisdiction.
Enforcement
In some cases, Gaming Control Boards are responsible for enforcing the rules and regulations that they create. In other cases, a separate body or a division of the Gaming Control Board carries out the enforcement function. Most Gaming Control Boards have full authority to hear and decide civil cases brought before them by the enforcement body and thus are considered to be quasi-judicial bodies.
Native American gaming control boards
In the United States, some Native American tribal nations have established their own gaming control boards for the purpose of regulating tribe-owned casinos located within reservations. Although the tribal nation also owns the casino, appointing an independent gaming control board to oversee regulatory activities provides tribal members with assurances that the casino is operated within expected standards and that tribal revenue is accurately collected and reported.
Federal oversight
Native American casinos are subject to the provisions of the Indian Gaming Regulatory Act, which is administered by the National Indian Gaming Commission or (NIGC). The NIGC establishes minimum internal control standards and other requirements that each Native American gaming control board must follow. However, the NIGC does not have jurisdiction over state-regulated casinos.

Gaming Control Boards in North America
Arizona Department of Gaming
British Columbia Gaming Policy and Enforcement Branch
California Gambling Control Commission
California Division of Gambling Control
Colorado Division of Gaming
Connecticut Division of Special Revenue
Delaware Gaming Control Board
Illinois Gaming Board
Indiana Gaming Commission
Iowa Racing and Gaming Commission
Kansas Racing and Gaming Commission
Kahnawake Gaming Commission
Louisiana Gaming Control Board
Maine Gambling Control Board
Michigan Gaming Control Board
Mississippi Gaming Commission
Missouri Gaming Commission
National Indian Gaming Commission (NIGC)
Nevada Gaming Commission [1]
Nevada Gaming Control Board
New Jersey Casino Control Commission
New Mexico Gaming Control Board
Ontario (Canada) Alcohol and Gaming Commission
Pennsylvania Gaming Control Board
South Dakota Commission on Gaming
Washington State Gambling Commission
Gaming Control Boards in Australia
New South Wales (Australia) Casino Control Authority
Queensland (Australia) Gaming Commission
Queensland (Australia) Office of Gaming Regulation
Victorian Commission for Gambling Regulation
South Australia (Australia)--Independent Gambling Authority
Gaming Control Boards in Europe
Alderney Gambling Control Commission
Great Britain Gambling Commission
Gaming Board of Hungary
Isle of Man Gaming Control Commission
Lotteries and Gaming Authority of Malta
Norwegian Gaming and Foundation Authority
National Gaming Board of Sweden
Portuguese Gaming Board
Slovenia Office for Gaming Supervision
Gaming Control Boards in Asia
Macau Gaming Inspection and Coordination Bureau
Gaming Control Board associations
Gaming Regulators European Forum (GREF)
International Association of Gaming Regulators (IAGR)
North American Gaming Regulators Association (NAGRA)
Source: Wikipedia

Gaming Association : America

The American Gaming Association (AGA) is a United States gaming industry association.
The AGA was founded in 1995 with the goal of promoting, educating and lobbying on behalf of the gaming entertainment industry through education and advocacy. They address federal legislative and regulatory issues affecting its members and their employees and customers, such as federal taxation, regulatory issues, and travel and tourism matters.
The AGA also attempts to serve as the gaming industry's information clearinghouse, providing the public, the media and decision makers timely, accurate gaming industry data.
AGA members include major casino operators, financial and professional service companies, suppliers of gaming products, as well as representatives of state or regional gaming associations.
Each year the AGA sponsors a major gaming trade show, the Global Gaming Expo.
The AGA's offices are located in Washington, D.C.. The Association's president is Frank Fahrenkopf, former chairman of the Republican Party.

Source : Wikipedia

Online casino

Online casinos, also known as virtual casinos or internet casinos, are online versions of traditional ("brick and mortar") casinos. Online casinos enable gamblers to play and wager on casino games through the Internet.
Online casinos generally offer odds and payback percentages that are comparable to land-based casinos. Some online casinos claim higher payback percentages for slot machine games, and some publish payout percentage audits on their websites. Assuming that the online casino is using an appropriately programmed random number generator, table games like blackjack have an established house edge. The payout percentage for these games are established by the rules of the game.
Reliability and trust issues are commonplace and often questioned. Many online casinos lease or purchase their software from well-known companies like Microgaming, Realtime Gaming, Playtech, and CryptoLogic Inc in an attempt to "piggyback" their reputation on the software manufacturer's credibility. These software companies either use or claim to use random number generators to ensure that the numbers, cards or dice appear randomly.
Contents
[hide]
1 Online casino types
1.1 Web-based online casinos
1.2 Download-based online casinos
1.3 Live-based casinos
2 Games offered
3 Bonuses
3.1 Signup bonuses
3.2 Cashable bonuses
3.3 Sticky bonuses
3.4 Cash back bonuses
3.5 Comp points
3.6 Bonus hunting
§ 3.6.1 Casino games
§ 3.6.2 Sports betting
§ 3.6.3 Poker
3.7 Bonus abuse
4 Fraudulent online casino behavior
5 Fraudulent player behavior
6 Legality
7 See also
8 Notes
9 External links
Online casino types
Online casinos can be divided into three groups based on their interface: web-based casinos, download-based casinos, and more recently live casinos. Some casinos offer multiple interfaces.
Web-based online casinos
Web-based online casinos are websites where users may play casino games without downloading software to the local computer. Games are mainly represented in the browser plugins Macromedia Flash, Macromedia Shockwave, or Java and require browser support for these plugins. Also, bandwidth is needed since all graphics, sounds and animations are loaded through the web via the plugin. Some online casinos also allow gameplay through a plain HTML interface.
Download-based online casinos
Download-based online casinos require the download of the software client in order to play and wager on the casino games offered. The online casino software connects to the casino service provider and handles contact without browser support. Download-based online casinos generally run faster than web-based online casinos since the graphics and sound programs are located within the software client, rather than having to be loaded from the Internet. On the other hand, the initial download and installation of a download-based online casino client does take time. As with any download from the Internet, the risk of the program containing malware does exist.
Live-based casinos
Live-based casino gaming allows web players to interact with games played in a real world casino environment. Online players can see, hear, and interact with live dealers at tables in casino studios worldwide.
Games offered
A typical selection of gambling games offered at an online casino might include:
Baccarat
Blackjack
Craps
Roulette
Online slot games
Online poker
Bonuses
Signup bonuses
Many online casinos offer signup bonuses to new players making their first deposit. These bonuses normally match a percentage of the player's deposit with a dollar maximum, and almost all online casino signup bonuses require a minimum amount of wagering before allowing a cash out. Gameplay at specific casino games might be excluded from the wagering requirement calculation.[citation needed]
A fictional signup bonus offer follows as an example:
The online casino offers new players a deposit matching bonus of 100%, up to $100
The player must wager 25 times the total amount of the deposit plus the bonus before withdrawing
Wagers on baccarat, craps, roulette, and sic bo do not count towards meeting wagering requirements
For this particular example, this would mean that a player depositing $100 would start with $200 in his account. The player must make $5000 ($200 × 25) in wagers before being allowed to make a withdrawal.
Some bonuses require no deposit to claim them. Types of no deposit bonuses include[citation needed]:
A no deposit in pure monetary form, for example $10.
Free spins no deposit, this is where they allow free spins on particular games, and then allow you to keep the winnings.
Play for a predetermine period of time with x amount of dollars.
Cashable bonuses
The most common form of casino bonuses is the cashable bonus.[citation needed] Cashable bonuses can be cashed out after completing a wagering requirement. A casino might offer a 100% match bonus up to $100 with a wagering requirement of $2000. After wagering $2000 in the casino, the player is able to cash out the $100 bonus.[citation needed]
Cashable bonuses often restrict play on certain games.[citation needed] Wagers made on roulette, baccarat, craps, and sic bo usually do not count towards the wagering requirement because these bets give the player the opportunity to simultaneously bet on winning and losing outcomes, greatly reducing variance.[citation needed] For example, betting on both red and black in roulette. Wagers on games with a low house edge, like blackjack and video poker, are also often excluded. Some casinos increase the wagering requirement above the default for low-house-edge games.
On games without raises or doubles, the expected loss while completing a wagering requirement is wagering requirement * house edge. This makes the expected gain of a cashable bonus equal to bonus - wagering requirement * house edge. House edge is defined in terms of initial bet, so the above equation does not apply to games with raises and doubles where the final bet size may be larger than the initial bet. The equation becomes bonus - wagering requirement * average loss per wager. WizardofOdds.com has proposed calling the latter average loss per wager variable "element of risk".[1] For a more precise estimate, one must also consider the benefit from being able to bet the bonus prior to completing the wagering requirement. This effect becomes noticeable when making large bets, such as betting the full balance (deposit and bonus) in a single bet. After considering this benefit and "element of risk", the formula for return becomes bonus - average wagering * element of risk.[2] If games without raises or doubles are played and the bonus is not given until completing wagering, then the formula can be simplified as bonus - wagering requirement * house edge.
Sticky bonuses
Non-cashable bonuses are often called "sticky bonuses".[3] Sticky bonuses can be bet, but cannot be cashed out. When the player makes a withdrawal, the sticky bonus is typically removed from the withdrawal total. A player might receive a 100% match sticky bonus on a $100 deposit with a wagering requirement of $2000. While meeting the $2000 wagering requirement, the player could bet both the deposit and the sticky bonus. When cashing out, the $100 bonus would be removed from the balance. If the player cashed out $300, $100 would be subtracted out, leaving $200. The player is not allowed to cash out a balance of below $100 since no cash would remain after the bonus is removed.
The average return of a sticky bonus is sometimes expressed in terms of a target gain. Average return = (chance of reaching target) * (target - bonus - deposit - wagering requirement * house edge) - (chance of not reaching target * deposit). With a target of 2x(bonus+deposit) and 50% chance of reaching the target, the equation reduces to 50% * (bonus - wagering requirement * house edge). Expressing in terms of chance of bust and "element of risk", the formula for return becomes bonus * chance of bust - average wagering * element of risk.[4]
The sticky bonus described above that is removed after wagering is sometimes known as a "phantom bonus." There are other variations of a sticky bonus in which you do not need to exceed your original balance to make a withdrawal. Instead any win is immediately cashable.[5]
Cash back bonuses
Cash back bonuses are given following a player loss. A portion of the player's loss is returned, often as cash. For example, a casino might offer a 25% cash back bonus each week. Any player who had a loss over the course of the week, would receive 25% of his loss back. Any player who had a win over the course of the week would not receive a bonus. Cashback bonuses are rare.[6]
Comp points
Comps (casino)
Comps are commonly available at land-based casinos, but also exist online. Comp points can usually be exchanged for cash, prizes, or other comps.[7] The amount of cash given per wager is usually very small and often varies with game selection. A casino might offer three comp points for each $10 wagered on slots and one comp point for each $10 wagered on blackjack. The casino might give $1 for each 100 comp points. This example is equivalent to returning 0.3% of wagers on slots and 0.1% of wagers on blackjack.
Bonus hunting
Bonus hunting (also known as bonus bagging or bonus whoring) is a type of advantage gambling where turning a profit from casino, sportsbook and poker room bonus situations is mathematically possible. For example, the house edge in blackjack is roughly 0.5%. In the example above, $5000 in wagering with a house edge of 0.5% will result in an expected loss of $25. Since the player received a $100 signup bonus, after subtracting the expected loss of $25, the player has an expected profit of $75.
Casino games
Online casinos offer players signup bonuses as incentives to play. These are usually one-off bonuses for signing up to the casino and opening an account. The terms and conditions attached to each bonus vary but share two common features:
Restricted games or bets.
Wagering requirements.
Wagering requirements prevent players from withdrawing the bonus money immediately after receiving it. Before the bonus money can be withdrawn the player must wager a certain amount of money on unrestricted games. The wagering can be spread out over many bets. To meet a $2000 wagering requirement, a player could make 1000 $2 bets on blackjack, provided blackjack is not a restricted game.
Games like blackjack and video poker have a low house advantage. The house advantage for blackjack is ~0.5%. So in the example above, by playing $2000 worth of blackjack with a house advantage of 0.5%, a player is, expected to lose $10 in total. But the expected value is an average value and may be less than the actual value. Risk of ruin is an important topic that comes into play.
Assuming that the player only loses an amount close to the expected loss, and the bonus awarded to the player after meeting this wagering requirement is greater than $10 then the player profits. The process is mathematically calculated. Bad luck could cause a player to lose more than $10 playing blackjack in this situation. The run of luck is subject to variance and follows a normal distribution.
Sports betting
By taking advantage of 'free' bet promotions, users can back the event, and then lay the event on a betting exchange, at similar or same odds, thus ensuring that their 'free' bet is not a bet at all, instead more like a financial trade. No matter the outcome, it is possible (by using a betting / arb calculator) to calculate both the possible outcomes before the sporting event has started. By inputting the odds, the bet calculator then tells you what amount to bet, to ensure that whether the bet wins or loses, the return is the same.
Poker
See the online poker article for a discussion of poker bonuses.
Bonus abuse
A large portion of online casino disputes relate to bonuses.[8] Casinos may label players who win using bonuses as "bonus abusers." Both players and casinos may commit fraud. An example of player fraud is creating multiple accounts and using the accounts to claim a sign-up bonus several times. An example of casino fraud is changing terms of a bonus after a player has completed the wagering requirements, then requiring the player to meet the new bonus terms.[citation needed]
Fraudulent online casino behavior
Fraudulent behavior on the part of online casinos has been documented. The most commonly reported behaviors are refusal to pay withdrawals or cheating software. An online casino with multiple confirmed cases of fraudulent behavior is often called a rogue casino by the online casino player community.[9]
One commonly reported behavior related to refusal to pay withdrawals is the refusal to pay withdrawals promptly. A rogue casino may intentionally delay a withdrawal in hopes that the player will continue gambling with the money in the account and lose it all back.
Cheating software appears to be less common than payout problems.
Some casino software has been mathematically proven to cheat, such as Elka System/Oyster Gaming and Casino Bar.[10] Screen shots from the back office of an older brand of software indicated the odds could be adjusted by the operator.
Many casino gambling portals and player forums maintain blacklists of rogue casinos.[9][11] While some carry more authority than others, most blacklists constitute individual webmaster and player opinions rather than anything official from any type of regulating body.
Fraudulent player behavior
Common fraudulent behavior from online casinos players includes the signing up for multiple casino accounts using different identities in order to claim a bonus offer multiple times, a practice known as "gnoming". Another form of fraudulent behavior might be the use of a graphics editing software like Adobe Photoshop to create a false winning slot machine game screenshot in an attempt to tell the casino they hit a jackpot and didn't get paid for it.
Online casinos usually lock the player accounts for these people. Some observers believe that online casinos share fraudulent player blacklists.[12]
Legality
See online gambling for a discussion of the legality of playing at an online casino.
Source : Wikipedia

Locals casino

A locals casino is a casino designed primarily to attract residents of the area in which it was built rather than tourists or vacationers. The term is most commonly associated with Nevada casinos, where it is used in order to differentiate casinos in the tourist areas from locals casinos.
Overview
Locals casinos can range from locations with fewer than 15 machines such as supermarkets, convenience stores, Gas Stations, bars or lounges with no lodging to resorts that have hundreds of machines and hotels with hundreds of rooms. Larger locals casinos in the Las Vegas metropolitan area include the Gold Coast, South Point, Orleans, Ellis Island Casino & Brewery, and Green Valley Ranch Resort.
Attracting residents
In order to attract residents to gamble, locals casinos try to differentiate themselves from tourist-oriented casinos to benefit gamblers. For example, locals casinos usually have a different mix of games or offer games not typically found in tourist-oriented casinos in the area, such as bingo. Additionally, they offer table games with lower minimum bets, as well as lower denomination slot machines and video poker.[1]
In addition, table games rules are frequently adjusted to decrease the house advantage, and the payout percentage on slot and video poker machines is increased;[2] locals casinos are well-known for offering more full pay video poker machines[1] or even machines that pay more than 100%.[citation needed]
Locals casinos will typically offer comps, such as free meals at the casino's restaurants, at a higher rate than tourist-oriented casinos.[3] Additionally, many locals casinos have promotions such as payroll check cashing, frequently accompanied by some type of free play bonus, to get patrons into the casino.[4] This is usually expanded with special promotions to cash Internal Revenue Service tax refund checks in Nevada.
Locals casinos often act as community centers and frequently include non-gambling entertainment such as bowling alleys, movie theaters, ice skating rinks, and occasionally day care centers.

Source: Wikipedia

Casino game

Games available in most casinos are commonly called casino games. In a casino game, the players gamble casino chips on various possible random outcomes or combinations of outcomes. Casino games are available in online casinos, where permitted by law. Casino games can also be played outside of casinos for entertainment purposes, some on machines that simulate gambling.
House advantage or edge
Casino games generally provide a predictable long-term advantage to the casino, or "house", while offering the player the possibility of a large short-term payout. Some casino games have a skill element, where the player makes decisions; such games are called "random with a tactical element." While it is possible through skillful play to minimize the house advantage, it is extremely rare that a player has sufficient skill to completely eliminate his inherent long-term disadvantage (the house edge or house vigorish) in a casino game. Such a skill set would involve years of training, an extraordinary memory and numeracy, and/or acute visual or even aural observation, as in the case of wheel clocking in Roulette.
The player's disadvantage is a result of the casino not paying winning wagers according to the game's "true odds", which are the payouts that would be expected considering the odds of a wager either winning or losing. For example, if a game is played by wagering on the number that would result from the roll of one die, true odds would be 5 times the amount wagered since there is a 5 to 1 probability of any single number appearing. However, the casino may only pay 4 times the amount wagered for a winning wager.
The house edge (HE) or vigorish is defined as the casino profit expressed as a percentage of the player's original bet. (In games such as Blackjack or Spanish 21, the final bet may be several times the original bet, if the player double and splits.)
Example: In American Roulette, there are two zeroes and 36 non-zero numbers (18 red and 18 black). If a player bets $1 on red, his chance of winning $1 is therefore 18/38 and his chance of losing $1 (or winning -$1) is 20/38.
The player's expected value, EV = (18/38 x 1) + (20/38 x -1) = 18/38 - 20/38 = -2/38 = -5.26%. Therefore, the house edge is 5.26%. After 10 rounds, play $1 per round, the average house profit will be 10 x $1 x 5.26% = $0.53. Of course, it is not possible for the casino to win exactly 53 cents; this figure is the average casino profit from each player if it had millions of players each betting 10 rounds at $1 per round.
The house edge of casino games vary greatly with the game. Keno can have house edges up to 25%, slot machines can have up to 15%, while most Australian Pontoon games have house edges between 0.3% and 0.4%.
The calculation of the Roulette house edge was a trivial exercise; for other games, this is not usually the case. Combinatorial analysis and/or computer simulation is necessary to complete the task.
In games which have a skill element, such as Blackjack or Spanish 21, the house edge is defined as the house advantage from optimal play (without the use of advanced techniques such as card counting), on the first hand of the shoe (the container that holds the cards). The set of the optimal plays for all possible hands is known as "basic strategy" and is highly dependent on the specific rules, and even the number of decks used. Good Blackjack and Spanish 21 games have house edges below 0.5%.
Standard deviation
The luck factor in a casino game is quantified using standard deviations (SD). The standard deviation of a simple game like Roulette can be calculated using the binomial distribution. In the binomial distribution, SD = sqrt (npq ), where n = number of rounds played, p = probability of winning, and q = probability of losing. The binomial distribution assumes a result of 1 unit for a win, and 0 units for a loss, rather than -1 units for a loss, which doubles the range of possible outcomes. Furthermore, if we flat bet at 10 units per round instead of 1 unit, the range of possible outcomes increases 10 fold. Therefore,
SD (Roulette, even-money bet) = 2b sqrt(npq ), where b = flat bet per round, n = number of rounds, p = 18/38, and q = 20/38.
For example, after 10 rounds at $1 per round, the standard deviation will be 2 x 1 x sqrt(10 x 18/38 x 20/38) = $3.16. After 10 rounds, the expected loss will be 10 x $1 x 5.26% = $0.53. As you can see, standard deviation is many times the magnitude of the expected loss.
The range is six times the standard deviation: three above the mean, and three below. Therefore, after 10 rounds betting $1 per round, your result will be somewhere between -$0.53 - 3 x $3.16 and -$0.53 + 3 x $3.16, i.e., between -$10.01 and $8.95. (There is still a 0.1% chance that your result will exceed a $8.95 profit, and a 0.1% chance that you will lose more than $10.01.) This demonstrates how luck can be quantified; we know that if we walk into a casino and bet $5 per round for a whole night, we are not going to walk out with $500.
The standard deviation for Pai Gow poker is the lowest out of all common casinos . Many , particularly slots, have extremely high standard deviations. As the size of the potential payouts increase, so does the standard deviation.
As the number of rounds increases, eventually, the expected loss will exceed the standard deviation, many times over. From the formula, we can see the standard deviation is proportional to the square root of the number of rounds played, while the expected loss is proportional to the number of rounds played. As the number of rounds increases, the expected loss increases at a much faster rate. This is why it is impossible for a gambler to win in the long term. It is the high ratio of short-term standard deviation to expected loss that fools gamblers into thinking that they can win.
It is important for a casino to know both the house edge and variance for all of their games. The house edge tells them what kind of profit they will make as percentage of turnover, and the variance tells them how much they need in the way of cash reserves. The mathematicians and computer programmers that do this kind of work are called gaming mathematicians and gaming analysts. Casinos do not have in-house expertise in this field, so outsource their requirements to experts in the gaming analysis field, such as Mike Shackleford, the "Wizard of Odds".
Categories of casino games
There are three general categories of casino games: table games, electronic gaming machines, and random number ticket games such as Keno and simulated racing. Gaming machines, such as slot machines and pachinko, are usually played by one player at a time and do not require the involvement of casino employees to play. Random number games are based upon the selection of random numbers, either from a computerized random number generator or from other gaming equipment. Random number games may be played at a table, such as Roulette, or through the purchase of paper tickets or cards, such as Keno or Bingo.
Common table games
Cards
Asian stud
Australian Pontoon
Baccarat
Blackjack
Blackjack switch
Casino war
Caribbean Stud Poker
Chinese poker
Faro
Four card poker
Let It Ride
Mambo stud
Pai gow poker
Red Dog
Spanish 21
Texas Hold'em Bonus Poker
Three card poker
Two-up
Penny-up
Dice / Tiles
Craps
Pai Gow
Sic bo
Chuck-a-luck
Random numbers
Big Six wheel
Roulette
Common non-table games
Gaming machines
Pachinko
Slot machine
Video Lottery Terminal
Video poker
Random numbers
Bingo
Keno

Casino Game

From Wikipedia, the free encyclopedia
Games available in most casinos are commonly called casino games. In a casino game, the players gamble casino chips on various possible random outcomes or combinations of outcomes. Casino games are available in online casinos, where permitted by law. Casino games can also be played outside of casinos for entertainment purposes, some on machines that simulate gambling.
House advantage or edge
Casino games generally provide a predictable long-term advantage to the casino, or "house", while offering the player the possibility of a large short-term payout. Some casino games have a skill element, where the player makes decisions; such games are called "random with a tactical element." While it is possible through skillful play to minimize the house advantage, it is extremely rare that a player has sufficient skill to completely eliminate his inherent long-term disadvantage (the house edge or house vigorish) in a casino game. Such a skill set would involve years of training, an extraordinary memory and numeracy, and/or acute visual or even aural observation, as in the case of wheel clocking in Roulette.
The player's disadvantage is a result of the casino not paying winning wagers according to the game's "true odds", which are the payouts that would be expected considering the odds of a wager either winning or losing. For example, if a game is played by wagering on the number that would result from the roll of one die, true odds would be 5 times the amount wagered since there is a 5 to 1 probability of any single number appearing. However, the casino may only pay 4 times the amount wagered for a winning wager.
The house edge (HE) or vigorish is defined as the casino profit expressed as a percentage of the player's original bet. (In games such as Blackjack or Spanish 21, the final bet may be several times the original bet, if the player double and splits.)
Example: In American Roulette, there are two zeroes and 36 non-zero numbers (18 red and 18 black). If a player bets $1 on red, his chance of winning $1 is therefore 18/38 and his chance of losing $1 (or winning -$1) is 20/38.
The player's expected value, EV = (18/38 x 1) + (20/38 x -1) = 18/38 - 20/38 = -2/38 = -5.26%. Therefore, the house edge is 5.26%. After 10 rounds, play $1 per round, the average house profit will be 10 x $1 x 5.26% = $0.53. Of course, it is not possible for the casino to win exactly 53 cents; this figure is the average casino profit from each player if it had millions of players each betting 10 rounds at $1 per round.
The house edge of casino games vary greatly with the game. Keno can have house edges up to 25%, slot machines can have up to 15%, while most Australian Pontoon games have house edges between 0.3% and 0.4%.
The calculation of the Roulette house edge was a trivial exercise; for other games, this is not usually the case. Combinatorial analysis and/or computer simulation is necessary to complete the task.
In games which have a skill element, such as Blackjack or Spanish 21, the house edge is defined as the house advantage from optimal play (without the use of advanced techniques such as card counting), on the first hand of the shoe (the container that holds the cards). The set of the optimal plays for all possible hands is known as "basic strategy" and is highly dependent on the specific rules, and even the number of decks used. Good Blackjack and Spanish 21 games have house edges below 0.5%.
Standard deviation
The luck factor in a casino game is quantified using standard deviations (SD). The standard deviation of a simple game like Roulette can be calculated using the binomial distribution. In the binomial distribution, SD = sqrt (npq ), where n = number of rounds played, p = probability of winning, and q = probability of losing. The binomial distribution assumes a result of 1 unit for a win, and 0 units for a loss, rather than -1 units for a loss, which doubles the range of possible outcomes. Furthermore, if we flat bet at 10 units per round instead of 1 unit, the range of possible outcomes increases 10 fold. Therefore,
SD (Roulette, even-money bet) = 2b sqrt(npq ), where b = flat bet per round, n = number of rounds, p = 18/38, and q = 20/38.
For example, after 10 rounds at $1 per round, the standard deviation will be 2 x 1 x sqrt(10 x 18/38 x 20/38) = $3.16. After 10 rounds, the expected loss will be 10 x $1 x 5.26% = $0.53. As you can see, standard deviation is many times the magnitude of the expected loss.
The range is six times the standard deviation: three above the mean, and three below. Therefore, after 10 rounds betting $1 per round, your result will be somewhere between -$0.53 - 3 x $3.16 and -$0.53 + 3 x $3.16, i.e., between -$10.01 and $8.95. (There is still a 0.1% chance that your result will exceed a $8.95 profit, and a 0.1% chance that you will lose more than $10.01.) This demonstrates how luck can be quantified; we know that if we walk into a casino and bet $5 per round for a whole night, we are not going to walk out with $500.
The standard deviation for Pai Gow poker is the lowest out of all common casinos . Many , particularly slots, have extremely high standard deviations. As the size of the potential payouts increase, so does the standard deviation.
As the number of rounds increases, eventually, the expected loss will exceed the standard deviation, many times over. From the formula, we can see the standard deviation is proportional to the square root of the number of rounds played, while the expected loss is proportional to the number of rounds played. As the number of rounds increases, the expected loss increases at a much faster rate. This is why it is impossible for a gambler to win in the long term. It is the high ratio of short-term standard deviation to expected loss that fools gamblers into thinking that they can win.
It is important for a casino to know both the house edge and variance for all of their games. The house edge tells them what kind of profit they will make as percentage of turnover, and the variance tells them how much they need in the way of cash reserves. The mathematicians and computer programmers that do this kind of work are called gaming mathematicians and gaming analysts. Casinos do not have in-house expertise in this field, so outsource their requirements to experts in the gaming analysis field, such as Mike Shackleford, the "Wizard of Odds".
Categories of casino games
There are three general categories of casino games: table games, electronic gaming machines, and random number ticket games such as Keno and simulated racing. Gaming machines, such as slot machines and pachinko, are usually played by one player at a time and do not require the involvement of casino employees to play. Random number games are based upon the selection of random numbers, either from a computerized random number generator or from other gaming equipment. Random number games may be played at a table, such as Roulette, or through the purchase of paper tickets or cards, such as Keno or Bingo.
Common table games
Cards
Asian stud
Australian Pontoon
Baccarat
Blackjack
Blackjack switch
Casino war
Caribbean Stud Poker
Chinese poker
Faro
Four card poker
Let It Ride
Mambo stud
Pai gow poker
Red Dog
Spanish 21
Texas Hold'em Bonus Poker
Three card poker
Two-up
Penny-up
Dice / Tiles
Craps
Pai Gow
Sic bo
Chuck-a-luck
Random numbers
Big Six wheel
Roulette
Common non-table games
Gaming machines
Pachinko
Slot machine
Video Lottery Terminal
Video poker
Random numbers
Bingo
Keno

Wednesday, June 4, 2008

List of casinos

Casino