Posts Tagged: gambling

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13
Apr 10

Want to win the lottery? You’re better off with blackjack

In these hard times, gambling and lottery revenues are up, with people putting their faith and a little bit of money toward these get-rich-quick schemes. While WalletPop in no way endorses gambling or playing the lottery, we were curious to find out what are the odds when putting some cash toward making money fast.

…In these hard times, gambling and lottery revenues are up, with people putting their faith and a little bit of money toward these get-rich-quick schemes. While .WalletPop in no way endorses gambling or playing the lottery, we were curious to find out what are the odds when putting some cash toward making money fast.

Anthony Curtis, the president of LasVegasAdvisor.com, the go-to site on the latest happenings and deals in Sin City, used to make a living as a card-counting genius, like the one dramatized in the movie 21. Curtis came to Las Vegas in 1979. He says that the competition today is immense, and he doesn’t recommend being a professional poker player as a career path. “Where my serious money got made was in publishing,” he says, citing the Las Vegas and gambling-interest books he regularly puts out.

So what odds does Curtis give for some of the world’s favorite get-rich-quick pastimes?

The lottery
“There’s a longer shot than being shot by lightning,” says Curtis on your odds of winning the lottery….

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Want to win the lottery? You’re better off with blackjack

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5
Mar 10

Forbes: PokerStars - Online Poker’s Quiet Giant

PokerStars beat the odds and became the kings of Internet poker. When federal lawmakers passed aimed at online gaming, PokerStars stayed put

…PokerStars quickly became the biggest firm in the world s most important market and now has estimated annual revenue of $1.4 billion and some $500 million in profits. This financial success stems from the rake, or fee, that PokerStars is able to charge players in return for hosting poker games or tournaments. Much to the frustration of PartyGaming, PokerStars has used the cash generated from the U.S. market to expand globally, where online poker is a $4.8 billion annual business, according to H2 Gambling Capital. PokerStars, however, claims that its industry leadership is not related to the U.S. market, but rooted in its international operations, particularly in Europe.The company insists its decision to keep taking U.S. bets has been carefully considered, even though the U.S. Justice Department has taken the position that online poker violates U.S. law, specifically the Wire Act of 1961. PokerStars says it has received legal opinions from several U.S. law firms stating it is not violating U.S. law….

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Forbes: PokerStars - Online Poker’s Quiet Giant

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28
Jan 10

Rothstein pleads guilty to five charges, massive Ponzi fraud

Scott Rothstein admitted Wednesday morning that his empire was built on a lie –the biggest financial fraud in South Florida history. He pleaded guilty to five federal charges, admitting that he ran a massive Ponzi scheme, and faces a lengthy prison term at his sentencing in May.

…Scott Rothstein admitted Wednesday morning that his empire was built on a lie the biggest financial fraud in South Florida history.

He pleaded guilty to five federal charges, accepting responsibility for a massive Ponzi scheme, and faces a lengthy prison term at his sentencing in May.

“This is the first step to bringing closure to a $1.2 billion Ponzi scheme,” said acting U.S. Attorney Jeffrey Sloman. “Rest assured, we are not done.”

Rothstein appeared in federal court in Fort Lauderdale wearing a khaki jail jumpsuit and answered routine questions from U.S. District Judge James Cohn in a clear but subdued voice during the brief hearing. “Guilty,” Rothstein replied when asked by the judge how he was pleading to the charges.

As the shackled and handcuffed Rothstein was leaving the courtroom, he stumbled over his lawyer’s briefcase. He began to fall, but federal marshals caught him and got him on his feet again to return him to detention. His once spiky blond hair was buzz-cut and gray. He made no eye…

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Rothstein pleads guilty to five charges, massive Ponzi fraud

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27
Jan 10

Leader of Anti-Gambling Task-Force Wins Jackpot, Resigns

To top it all off, Governor Riley (who does not want gambling in Alabama) allegedly received millions of dollars in campaign cash from the “Mississippi Indians” who run the casinos there. Chief Doubles-Down-With-Eleven apparently hoped Riley would keep gambling out of Alabama so gazillions of wampum beads would flow into Mississippi.

…While my actions were in full compliance with the law, I am convinced that the forces that operate illegal casinos in Alabama will focus on my actions as part of their continuing effort to smear you and your Task Force.
And it turns out he was actually followed there by a P.I. hired by the Victoryland Casino. Which is just sad. (The name Victoryland, that is.) I’ve never had the pleasure of visiting, but I picture it looking a lot like the roadhouse from Porky’s.
To top it all off, Governor Riley (who totally does not want gambling in Alabama, in case you weren’t clear on that) allegedly received millions of dollars in campaign cash from the Mississippi Indians who run the casinos there. Chief Doubles-Down-With-Eleven apparently hoped Riley would keep gambling out of Alabama so gazillions of wampum beads would flow into Mississippi as Alabamians cross the border to gamble.
Guess who else was involved? (No, not Hitler, but you’re close.) HuffPo reports :

According to a 2002 US Senate Indian Affairs…

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Leader of Anti-Gambling Task-Force Wins Jackpot, Resigns


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