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Articles 1 - 30 of 33
Full-Text Articles in Statistics and Probability
Research On Problem Gambling Websites, Chang Boon Patrick Lee
Research On Problem Gambling Websites, Chang Boon Patrick Lee
International Conference on Gambling & Risk Taking
This is a continuation of a series of studies on problem gambling websites. It has been noted in prior studies that one avenue problem gamblers might look for help was to go online to perform a web search. Online help is practical as help can be located immediately and this can help to ease the gamblers’ concerns that they are left alone to handle their own problems. While there are some anecdotal evidences regarding the success of problem gambling websites, there have been few empirical studies that relate directly to the perceptions and usefulness of the websites for the problem …
Optimal Strategy For Gambling Pools, Aaron C. Brown
Optimal Strategy For Gambling Pools, Aaron C. Brown
International Conference on Gambling & Risk Taking
In gambling pools, entrants submit predictions and the prizes are awarded to the prediction or predictions closest to actual outcomes. Some well-known examples are football pools (both the global and American game versions), toto, NCAA March Madness bracket pools and horse racing tournaments. For small pools with complete information about outcome probabilities, exact game theory optimal solutions are straightforward to compute. If there is also complete information about the number and strategy of other players, optimal exploitive strategies are even easier to derive. These problems have been treated in the literature.
This paper argues that the complete information approaches are …
Monitoring Gambling Impacts In Massachusetts: Honing Strategies And Preventing Harm, Rachel A. Volberg, Amanda Houpt
Monitoring Gambling Impacts In Massachusetts: Honing Strategies And Preventing Harm, Rachel A. Volberg, Amanda Houpt
International Conference on Gambling & Risk Taking
In November 2011, an Act Establishing Expanded Gaming in the Commonwealth of Massachusetts was signed into law (Chapter 194 of the Acts of 2011). This legislation permits casinos and slot parlors in Massachusetts under the regulatory auspices of the Massachusetts Gaming Commission (MGC). Section 71 of the Expanded Gaming Act requires the MGC to establish an annual research agenda to assist in understanding the effects of casino gambling in Massachusetts and in minimizing the negative impacts. Research activities launched thus far include a comprehensive study of the social and economic impacts of casino gambling in Massachusetts (SEIGMA), a cohort study …
Mandatory Pre-Commitment Loss Limits: Six Years’ Experience Shows It Works, Bjorn H. Hoffmann
Mandatory Pre-Commitment Loss Limits: Six Years’ Experience Shows It Works, Bjorn H. Hoffmann
International Conference on Gambling & Risk Taking
The Norwegian state owned company Norsk Tipping is a pioneer in the gambling indusrty with its secure player identification and mandatory registered play across all channels. Knowing who your player is and having a strong link between the player and his consumption of games across all channels (land based, EGM, web and mobile) is an important premise for having a credible responsible gaming platform.
Norsk Tipping introduced in 2009 EGM’s with both pre commitment tools and maximum loss limits. In 2014 we introduced our Internet casino with probably the best responsible gambling platform in the world, including mandatory loss limits. …
A Behavioural Account Of Mobile Gambling, Richard James, Richard Tunney, Claire O'Malley
A Behavioural Account Of Mobile Gambling, Richard James, Richard Tunney, Claire O'Malley
International Conference on Gambling & Risk Taking
Mobile gambling is an emerging market in which there is evidence that some gamblers are introduced to gambling through their mobile device, and that mobile gambling does not ‘cannibalise’ participation with other forms of gambling. There is a concern that mobile gamblers face distinct risks from other forms of gambling, particularly for harmful behaviours. This paper presentation outlines a behavioural account of mobile gambling that combines both the learned characteristics of problem gambling with how individuals interact with their mobile devices. This hypothesizes that the extended gaps between plays or sessions potentially attracts extended play, even in the face of …
Ready, Set, And Go Back: The Role Of The Judiciary In Brazil’S Bingo Ban, Luiza Jobim Llm, Toni Williams
Ready, Set, And Go Back: The Role Of The Judiciary In Brazil’S Bingo Ban, Luiza Jobim Llm, Toni Williams
International Conference on Gambling & Risk Taking
Brazil, the host of the 2014 World Cup and the 2016 Olympics, is known for strong competitive traditions in sports and games. It is also one of only three G-20 countries (together with Saudi Arabia and Indonesia) that currently bans non-state provision of gambling products. Bingo was a notable exception to this prohibition, after enabling legislation was enacted in 1993, with the intention that proceeds would help fund national sports development. The game quickly became very popular but there were persistent questions about, and contestations over, the capacity of the regulatory framework to control the dual risks of exploitation of …
The Future Of Gambling Spaces: Esports And The World Of Competitive Video Gaming, Brett Abarbanel, Bryce Blum, Chris Grove, Carson Knuth, Seth Schorr, Rahul Sood
The Future Of Gambling Spaces: Esports And The World Of Competitive Video Gaming, Brett Abarbanel, Bryce Blum, Chris Grove, Carson Knuth, Seth Schorr, Rahul Sood
International Conference on Gambling & Risk Taking
eSports, or competitive video gaming, are a rapidly developing segment of sport and gaming. eSports are a unique cultural and economic phenomenon, and only recently is this nascent industry garnering substantial attention from gambling operators, regulators, and researchers. In 2015, an estimated quarter of a billion dollars will be wagered on eSports, a number projected to grow to $23 billion by 2020 (Eilers Research, 2015).
This panel presentation will provide a general overview of eSports, including some background on the industry, a description of the market and general business model, information about the gambling opportunities within eSports, sponsorship opportunities and …
Profiling At-Risk Gamblers, Tapio Jaakkola, Kari Vuorinen, Mirka Smolej
Profiling At-Risk Gamblers, Tapio Jaakkola, Kari Vuorinen, Mirka Smolej
International Conference on Gambling & Risk Taking
The majority of gambling research has been concentrating on problem gambling and on the association between gambling behavior, game design and gambling harm. Much less attention has been directed at recreational gambling or on players that do not suffer from any gambling related problems. However, when it comes to preventing gambling harm we should also target those at risk as well those who are gambling moderately.
As a part of a project on prevention of adult gambling harm we did a study of at-risk gamblers in order to recognize and to define the socio-economic background of our target group. Prior …
Self-Correcting Kelly Strategies For Skeptical Traders, Aaron C. Brown
Self-Correcting Kelly Strategies For Skeptical Traders, Aaron C. Brown
International Conference on Gambling & Risk Taking
The Kelly criterion gives the appropriate bet size in idealized situations with known parameters. In financial trading situations parameters are generally unknown and the mathematical assumptions underlying the Kelly proof are not met precisely. Moreover a risk manager typically must cooperate with a trader who may be skeptical about both the Kelly criterion specifically and the concept of mathematical optimization of bet size in general.
This presentation tackles the problem of designing a Kelly-based system for setting trade risk management parameters that is both self-correcting (the system delivers good results even if initial parameter are misestimated or parameters change) and …
Measuring Market Saturation In The U.S. Casino Industry: An Analytical And Empirical Analysis, Clyde W. Barrow, Alan P. Meister, David R. Borges
Measuring Market Saturation In The U.S. Casino Industry: An Analytical And Empirical Analysis, Clyde W. Barrow, Alan P. Meister, David R. Borges
International Conference on Gambling & Risk Taking
The national and regional economies in the U.S. remain on a slow growth trajectory, while the casino gaming industry has seen a rapid and ongoing expansion. Consequently, states, Native American tribes, and gaming operators have increasingly shifted their attention from gaming expansion to the problems of regional competition, cannibalization, market maturation, and market saturation. The question of “market saturation” has become a salient point of public policy debate and a topic that is now frequently raised in the industry and media. This paper analyzes the concept of saturation in the context of casino gaming markets and compares several metrics for …
Gambling Problems In The General Danish Population: Survey Evidence, Morten Lau, Don Ross
Gambling Problems In The General Danish Population: Survey Evidence, Morten Lau, Don Ross
International Conference on Gambling & Risk Taking
We develop surveys of gambling problems in the general Danish population. We compare several popular survey instruments of gambling behavior and gambling propensity to assess if they differ in their classification of individuals. We also examine correlations with standard survey instruments for alcohol use, anxiety, depression and impulsiveness. A feature of our design is that nobody was excluded on the basis of their response to a “trigger,” “gateway” or “diagnostic item” question about previous gambling history, allowing us to check for sample selection bias. Our sample consists of 8,405 adult Danes, which is 12.8% of the sample frame of 65,592 …
Generational Differences In Gambling Behavior And Attitudes, Don Feeney, Todd Maki
Generational Differences In Gambling Behavior And Attitudes, Don Feeney, Todd Maki
International Conference on Gambling & Risk Taking
The five generations that make up the adult population of North America and Europe differ greatly in their gambling behavior and their beliefs and attitudes towards gambling. This presentation will discuss data that demonstrate the extent of these differences as well as the cultural background and formative experiences that led to them. It will conclude with a discussion of implications for the gambling industry, responsible gambling, public policy, and for those concerned with the prevention and treatment of gambling problems.
Responsible Gaming Certification Standards, Dietmar Hoscher
Responsible Gaming Certification Standards, Dietmar Hoscher
International Conference on Gambling & Risk Taking
The European Casino Association (ECA) is representing the licensed European Casino industry in Brussels. It represents some 900 casinos form 24 European countires which employ around 70.000 staff.
In 2013 the ECA launched a project among its members concerning Responsible Gaming. A Working Group headed by Prof. Hoscher a Board Mamber of Casinos Austria AG was formed. The members where Resposnible Gaming Experts fom the different companies and associations within the ECA network.
The working group established a Responsible Gaming Framework that represents a collection of measures to presevent gambling addictions and identify vulonerable persons. The collection of measures are …
The Economics Of Lotto, Ian Walker, Robert E. Pryce, Rhys Wheeler, Nick Powdathvee
The Economics Of Lotto, Ian Walker, Robert E. Pryce, Rhys Wheeler, Nick Powdathvee
International Conference on Gambling & Risk Taking
No abstract provided.
Session 4-1-B: Casino Legalization As An Evolutionary Game -- Who Will Be The Next?, Miao He
Session 4-1-B: Casino Legalization As An Evolutionary Game -- Who Will Be The Next?, Miao He
International Conference on Gambling & Risk Taking
Introduction
For the community/governor who has a strong preposition to casino gaming (e.g., gambler, religious group), his/her motivation to participate/accept casino legalization is
∆PAEA+tA>cî and ∆PB(RB+EB)+tB>cĴ
What’s the motivation for the other community/governors who are neutral to casino gaming?
How the casino legalization process evolved and finally reached the equilibrium state?
Session 4-1-D: The Ant And The Grasshopper: Western Casino Operators In Macau And Singapore, Sudhir Kale
Session 4-1-D: The Ant And The Grasshopper: Western Casino Operators In Macau And Singapore, Sudhir Kale
International Conference on Gambling & Risk Taking
Objectives
Understand the impact of market conditions and managerial orientation on employee satisfaction, organizational identification, and service quality in Macau/ Singapore Casino Industry.
Highlight long-term adverse impact of poor service quality on market share and profitability.
Provide guidelines for action.
Session 3-4-B: Evaluating The Performance Of Macao’S Gaming Industry, Day-Yang Liu
Session 3-4-B: Evaluating The Performance Of Macao’S Gaming Industry, Day-Yang Liu
International Conference on Gambling & Risk Taking
The purpose of research
The stringently competitive nature of the casino entertainment market in the Macao necessitates that managers fully utilize knowledge expertise to increase efficiency in operations management.
Therefore, this study employs data envelopment analysis (DEA) model to estimate the efficiency and productivity of the casino entertainment industry in Macao.
Session 3-3-F: Measuring The Price Of Discrimination With Data On Poker Games, Ingo Fiedler
Session 3-3-F: Measuring The Price Of Discrimination With Data On Poker Games, Ingo Fiedler
International Conference on Gambling & Risk Taking
Introduction
Economic theory suggests that discrimination is price sensitive and money an equalizer
This means that discrimination decreases the higher the private costs for the discriminator
Economic reasoning: Discrimination comes at a price for the discriminator
- Example: an employer discriminates against potential employees with a non-white skin tone and thus may miss the best employees who then work for a competitor.
- Imperfect competition leads to rents and rents can be used to discriminate and they can be discrimination in itself. [Jomo, 2003].
- Competition reduces discrimination
Session 3-1-E: Modeling Change In The Profile Of The Atlantic City Visitor, Brian J. Tyrrell, Israel Posner Ph.D.
Session 3-1-E: Modeling Change In The Profile Of The Atlantic City Visitor, Brian J. Tyrrell, Israel Posner Ph.D.
International Conference on Gambling & Risk Taking
The Atlantic City casino market has faced increasing competition over the past decade, particularly since the introduction of Pennsylvania gaming in 2006. In response to this increased competition, the State of New Jersey, through legislation, created a public private partnership to both redevelop parts of the city and devote significant marketing dollars into shaping the image of the city. The private side of that partnership, the Atlantic City Alliance (ACA), found in their earliest consumer research that Atlantic City’s image as a gaming destination was well established, but that the city was less known for the retail, entertainment and restaurants …
Session 2-4-E: Financial Evaluation Commonalities And Distinctions Expressed By 10-Ks With Two Libertarian Hospitality Segments: Casino Gaming And Gentlemen’S Clubs, David J. Paster
International Conference on Gambling & Risk Taking
Premise
Libertarian hospitality ventures are significantly and fundamentally different than current common hospitality fields such as lodging and restaurants due to their distinct business model composition.
Session 2-4-B: The Boomerang Effect, Jonathan Galaviz
Session 2-4-B: The Boomerang Effect, Jonathan Galaviz
International Conference on Gambling & Risk Taking
Today's Talk:
1. Ideas, not politics
2. Strategic outlook
3. Macro Focused
Session 2-4-B: Las Vegas: The Houston Of The Gaming Industry?, Bo J. Bernhard
Session 2-4-B: Las Vegas: The Houston Of The Gaming Industry?, Bo J. Bernhard
International Conference on Gambling & Risk Taking
Conclusions
Las Vegas is and must become an intellectual capital of the global gaming industry.
Internet gaming: new threats, new opportunities
Session 2-2-E: Slots Are To Las Vegas As Baccarat Is To Macau: A Game Analysis, Arthur Sai-Wai Wong
Session 2-2-E: Slots Are To Las Vegas As Baccarat Is To Macau: A Game Analysis, Arthur Sai-Wai Wong
International Conference on Gambling & Risk Taking
Money is reeling in the casinos in Las Vegas, while chips are rolling in the casinos in Macau. These two different phrases exactly symbolize the ways how these two different gaming jurisdictions make their prosperity.
There are several reels in the slot machines and as they are spun thousands and millions of times…money reels in, it creates the profit for the casinos in Las Vegas.
Baccarat players wager dead chips in the VIP rooms rolling thousands and millions of times…money rolls in, it creates the profit for the casinos in Macau.
Session 2-2-E: The Growth Trends In Macau’S Gambling Industy: A Scenario Analysis, Zhonglu Zeng
Session 2-2-E: The Growth Trends In Macau’S Gambling Industy: A Scenario Analysis, Zhonglu Zeng
International Conference on Gambling & Risk Taking
Macau’s Gambling Industry: A Brief Review
Macau’s gambling industry has experienced tremendous growth in the past 27 years. In 1985, the gambling revenue was only US$0.23 billion; in 2012, the figure reached US$38 billion. The compound annual growth rate is 22%.
Session 2-1-E: Betting Market Efficiency Implications Of Different Structures: Bookmakers Vs. Exchanges, David Mcdonald, Ming-Chien Sung, Johnnie Johnson Professor, John Peirson
Session 2-1-E: Betting Market Efficiency Implications Of Different Structures: Bookmakers Vs. Exchanges, David Mcdonald, Ming-Chien Sung, Johnnie Johnson Professor, John Peirson
International Conference on Gambling & Risk Taking
Outline
(i) Quick definition of market efficiency
(ii) Theoretical models lead to general predictions…
(iii) ...which lead to specific predictions about betting markets
(iv) Results of testing the predictions using real betting market data
(v) Implications and conclusion
Session 2-1-E: Toward An Understanding Of Price Movements In Betting Markets: Profitable Trading Against The Herd, Johnnie E.V. Johnson, Ming-Chien Sung, David C.J. Mcdonald
Session 2-1-E: Toward An Understanding Of Price Movements In Betting Markets: Profitable Trading Against The Herd, Johnnie E.V. Johnson, Ming-Chien Sung, David C.J. Mcdonald
International Conference on Gambling & Risk Taking
Efficient Market Hypothesis
Markets for speculative assets always fully incorporate relevant information in prices
Herding
Participants neglect private info, adjust actionsmore representative of previous price movements
Effect
Price volatility in excess of variations in fundament d informationBubbles, crashes and bank runs
Session 1-4-A: Results From The Swedish Longitudinal Gambling Study (Swelogs): Changes Between 1998, 2009, And 2010, Ula Romild, Jessika Svensson
Session 1-4-A: Results From The Swedish Longitudinal Gambling Study (Swelogs): Changes Between 1998, 2009, And 2010, Ula Romild, Jessika Svensson
International Conference on Gambling & Risk Taking
Public Health Objectives
1. The overarching aim of Sweden’s national public health policy is to create social conditions that will ensure good health, on equal terms for the entire population.
2. The aim for society’s measures against problem gambling is to reduce harm from exaggerated gambling.
Session 1-4-B: Gambling And Marijuana Use In The Netherlands: Is Legalization The Best Tool For Dealing With "Naughty Habits?", William N. Thompson, Laura K. Thompson
Session 1-4-B: Gambling And Marijuana Use In The Netherlands: Is Legalization The Best Tool For Dealing With "Naughty Habits?", William N. Thompson, Laura K. Thompson
International Conference on Gambling & Risk Taking
In 1976, the Netherlands embraced two policy initiatives which encompassed similar objectives. The policies sought to control “undesired substances” via the process of legalization. One legalization process involved casino gambling. The policies have sometimes led to desired results (the right road), while at other times they have led to undesirable results (the wrong road). Now in 2013, without an observable crossroad or even fork in the road, The Netherlands is poised to deviate from a right road to travel down a wrong road by placing rather severe restrictions upon the operations of “Coffee Houses” which have been “serving” customers measured …
Session 1-3-E: Hitting The Sweet Spot: Lottery Promotion And Vulnerability, Elisabeth Papineau, Jean-François Biron, Fanny Lemetayer, Amadou Barry
Session 1-3-E: Hitting The Sweet Spot: Lottery Promotion And Vulnerability, Elisabeth Papineau, Jean-François Biron, Fanny Lemetayer, Amadou Barry
International Conference on Gambling & Risk Taking
Literature about lottery marketing and vulnerability
Lottery advertising in Quebec
Project phases
Results
Conclusion
Session 1-2-F: Rationality And Risk Intelligence In Binary Betting, Raph Di Guisto, Aaron C. Brown, Nick Maughan
Session 1-2-F: Rationality And Risk Intelligence In Binary Betting, Raph Di Guisto, Aaron C. Brown, Nick Maughan
International Conference on Gambling & Risk Taking
We analyze 1.6 million binary bets on financial markets totaling $600 million in stakes, placed by 21,000 bettors at a large Internet betting site. The data set is unusually large and complete, plus has one additional important advantage: we can obtain objective independent estimates of the ex ante probability of winning each bet, using data from financial markets. This allows us to distinguish bettor profit due to superior prediction of financial events from bettor profit due to exploiting ex ante favorable odds situations. We focus on the degree or type of skill possessed by bettors (if any), and the amount …