Do casino and sports betting platform owners gamble as much as other people?

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: alastantiger on February 13, 2023, 08:01:36 PM

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Owners of sports books and casinos are professional gamblers, so I want to believe. Although, I think when they gamble, they do not do it to win but rather for entertainment purposes, and it will be rare. Owners of sports books and casinos have no need to gamble because they already know how to beat the house; why should they go against themselves? After all, in the end, the profit goes to them and the loss to their customers. Perhaps there is a law somewhere that prohibits them from actively gambling.

I don't think so because there are also owners of casinos and sports books that are business people who see an opportunity to earn a lot of money from gambling so they are trying to create casinos too.
But even if the casino owner is a gambler, he still has good self-control so he doesn't think about gambling but has to manage his business to make a profit.
If a casino owner can restrain himself from gambling in his own or other casinos, he just needs to focus on growing his casino to make it bigger.
And if casino owners gamble, they may gamble less often and just for fun.

alastantiger

sr. member

Activity: 728

Merit: 444

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Owners of sports books and casinos are professional gamblers, so I want to believe. Although, I think when they gamble, they do not do it to win but rather for entertainment purposes, and it will be rare. Owners of sports books and casinos have no need to gamble because they already know how to beat the house; why should they go against themselves? After all, in the end, the profit goes to them and the loss to their customers. Perhaps there is a law somewhere that prohibits them from actively gambling.

goinmerry

legendary

Activity: 2940

Merit: 1083

Quote from: SeaSoul on February 13, 2023, 06:41:16 AM

Take a casino owner who makes 100k per month and he spends 1% of that on gambling but only plays once a week. The guy is still fine if he sets this limit for himself and that's it. If someone is an excessive gambler, I don't know whether it is likely that that person runs successful casinos and has always been an excessive player. It could be the case, but I would imagine that people running successful businesses do have some self-control that might be stronger relative to another average person. There is also the difference that a casino owner's motivation for gambling might be different from that of an ordinary player. The intent might rather be to represent a casino on certain occasions or use one's own reputation (if there is any) to attract new players etc.

You have a point though. Not want to see a casino owner that is mostly do gambling as it might not bring good to its hold business.

These people who runs businesses might still do gambling but on moderately and being responsible.

Maybe just to kill the boredom and just want to have an entertainment as handling business is really sensitive and needs more time.

Fatunad

sr. member

Activity: 2296

Merit: 360

Quote from: len01 on February 13, 2023, 10:11:40 AM

Quote from: Strongkored on February 13, 2023, 08:09:26 AM

Quote from: Pierre 2 on February 13, 2023, 05:49:29 AM

I personally feel that they do. In my childhood I always wanted my dad to become shop owner so I could eat tonnes of snack for free. I think it's very similar with casino platform owners. They probably loved gambling, they always spent their life on it and probably in time they thought it could be very profitable business to own one... Its probably logical reasoning. I think they may decrease their gambling play time after they established casino. Casino owners are generally getting rich very quickly.

Maybe he plays because he has easy access to his own site but maybe not because as the owner he is already preoccupied with all kinds of developments and strategies to be able to develop gambling sites even bigger but what is certain is that gambling site owners are people who initially is a gambler and went into this business because he knew the amount of profit that could be obtained.

the owner of the casino is a man who used to be a gambler, I like this statement.
there is truth if the casino owner was once a gambler who had many years of experience in gambling and knew that the casino business was very profitable and could get rich quickly. but I doubt a little if the casino owners still gamble.
because if the casino owner is someone who has been a gambler in the past, surely he has a lot of experience and knows that gambling will only waste money continuously and in the end he will not gamble but chooses to keep himself busy thinking about how to develop his casino business and be able to earn income even bigger.

It would be no sense on running a business if you arent that a gambler because you wont really be able to get on how to deal or on how to handle up your business if you dont have the slightest idea on how do things works.This is why it would really be that normal that they are really that a gambler before they tend to run or build a business like this which is according into their interest.About on how they do play?
For sure it would be in moderation whether they would be playing on their own site or into others but most likely they would be playing on their own since losing wont really be that much of an issue.
For the sake of entertainment then it would be just the same.

Fortify

legendary

Activity: 2688

Merit: 1192

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Farmers who have chickens for eggs especially on a large scale, easily get tired of eating the eggs from their chickens or even eggs in general. Caterers get tired of eating their own pastries, just as people who are exposed to certain produce get tired of them due to over exposure. Do you think this experience is the same for casino owners and owners of sports betting platforms?

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

It's funny you use chickens as an example because between the actual bird and the egg, there is an incredible range of versatile dishes that you can produce from them. A more apt example might be drug dealers who should not get high on their own supply. Casino owners have already accrued the knowledge that gambling is essentially a losing game for the customer, Vegas was not built from paying out winners. If rich casino owners choose to gamble it is because they know it is simply a fun form of entertainment, for them, as it would make an insignificant dent on their income if they lost a bit of money. They'll wake up the next day and their betting streak will just be an after thought and they are generally unlikely to make a dangerous habit out of it.

Synchronice

hero member

Activity: 882

Merit: 792

Watch Bitcoin Documentary - https://t.ly/v0Nim

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Farmers who have chickens for eggs especially on a large scale, easily get tired of eating the eggs from their chickens or even eggs in general. Caterers get tired of eating their own pastries, just as people who are exposed to certain produce get tired of them due to over exposure. Do you think this experience is the same for casino owners and owners of sports betting platforms?

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

If we tag them on this forum, there is a high chance the response will come from their representative instead of real owners because they will rarely spend a second here and the reason is clear.
To be honest, this question is similar to this one: Do bank owners deposit money in their bank's account? Or do FED members use their printed money? Haha, okay it was a joke from my side.

While we will never know answer, one thing that I can surely say is that if casino owners ever gamble, they'll gamble on their website with play (fake) money. I genuinely believe that they won't gamble on their competitor website because long-term they'll lose and what's the point to enrich other casinos from your casinos income?

Blitzboy

hero member

Activity: 1344

Merit: 565

Leading Crypto Sports Betting & Casino Platform

Quote from: Ryu_Ar1 on February 12, 2023, 04:10:52 PM

I don't know the certainty of this but most likely I don't think so.
The conditions are like you said about the other disclosures and in the country I live in now there is a very big cigarette factory but the owner even hates cigarettes.
Things like this can still happen for gambling. They do business in gambling does not mean they have to plunge into gambling and do gambling all day long. Moreover, they know that gambling is not something that can be profitable for businessmen like them because regardless of anything they are managers and the ones who get the most profit for what they do gambling again for reasons of fun they are not gambling anymore I think.

I agree that business owners may or may not have a personal connection to the products or services they provide. It is essential to emphasize, however, that their ultimate objective is still to make a profit, and they may discover ways to do so within the constraints of their principles and beliefs.

In the case of the cigarette factory owner who dislikes cigarettes, they may view them as a necessary evil for their business. The same might arguably be said for enterprises tied to gambling. Regardless, it is essential that business owners make ethical and responsible decisions that line with their values, and that consumers support those who do.

It is also essential to evaluate the business's effect on the larger community. Even if the proprietor does not engage in gambling, the enterprise can have harmful impacts on people and society as a whole. Each of us is responsible for considering the repercussions of the businesses we support and making educated decisions.

klidex

hero member

Activity: 1498

Merit: 504

Quote from: len01 on February 13, 2023, 10:11:40 AM

because if the casino owner is someone who has been a gambler in the past, surely he has a lot of experience and knows that gambling will only waste money continuously and in the end he will not gamble but chooses to keep himself busy thinking about how to develop his casino business and be able to earn income even bigger.

It is true that a casino owner must have had a lot of experience and knowledge about gambling so he dared to start a casino business because he knew that casinos were a very profitable business and could easily give him large amounts of money.
But it seems it's not that easy that the casino owner knows that gambling will only waste money continuously and in the end he won't gamble. I'm sure the casino owner still does gambling either in a game or betting because gambling is something that can make people really addicted even though he is a casino business owner.
Because he owns a casino, there will surely be many business colleagues who will invite him to play too.

Zlantann

legendary

Activity: 1064

Merit: 1101

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Farmers who have chickens for eggs especially on a large scale, easily get tired of eating the eggs from their chickens or even eggs in general. Caterers get tired of eating their own pastries, just as people who are exposed to certain produce get tired of them due to over exposure. Do you think this experience is the same for casino owners and owners of sports betting platforms?

Do you think that the owners of casinos and sports betting platforms, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Experience is very important for the success of every business. To own a gambling platform one must have a deep understanding of the gambling business. Which means they should be experienced gamblers. There are also possibilities that they might learn the business theoretically and not practically. But the most successful gambling platform owners will have gambling experience.

For the question of if they gamble as much as others, I have not seen any gambling operator that don't gamble but I can't verify how often they gamble. Even if they gamble on other platforms, I think they usually do it secretly because this action might discourage their customers.

len01

hero member

Activity: 1330

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: Strongkored on February 13, 2023, 08:09:26 AM

Quote from: Pierre 2 on February 13, 2023, 05:49:29 AM

I personally feel that they do. In my childhood I always wanted my dad to become shop owner so I could eat tonnes of snack for free. I think it's very similar with casino platform owners. They probably loved gambling, they always spent their life on it and probably in time they thought it could be very profitable business to own one... Its probably logical reasoning. I think they may decrease their gambling play time after they established casino. Casino owners are generally getting rich very quickly.

Maybe he plays because he has easy access to his own site but maybe not because as the owner he is already preoccupied with all kinds of developments and strategies to be able to develop gambling sites even bigger but what is certain is that gambling site owners are people who initially is a gambler and went into this business because he knew the amount of profit that could be obtained.

the owner of the casino is a man who used to be a gambler, I like this statement.
there is truth if the casino owner was once a gambler who had many years of experience in gambling and knew that the casino business was very profitable and could get rich quickly. but I doubt a little if the casino owners still gamble.
because if the casino owner is someone who has been a gambler in the past, surely he has a lot of experience and knows that gambling will only waste money continuously and in the end he will not gamble but chooses to keep himself busy thinking about how to develop his casino business and be able to earn income even bigger.

passwordnow

hero member

Activity: 3136

Merit: 591

Leading Crypto Sports Betting & Casino Platform

Quote from: fzkto on February 13, 2023, 09:44:02 AM

I'm sure the owners of the gambling sites are gamblers and regularly play or bet. It is impossible, having such a site not to start gambling. Of the latter, I can give you a good example, although it's not gambling related.

I believe they were once gamblers but see the business as their hobby. They may take some bets sometimes but it's not going to be on a regular basis and that is because they understand the cycle and how the gambling business works.
They've started it with the goal of earning and not going after the losses because they know that once they also keep on betting, they're not going to avoid losses and emotions that it may be built upon when they gamble.

Quote from: fzkto on February 13, 2023, 09:44:02 AM

After the collapse of FTX it was revealed that SBF and his girlfriend were involved in margin trading, and with users' money. I don't think it matters here whether it's a gambling site or an exchange. The point is the same.

Yeah, the point is the same but not all owners of businesses either in gambling or trading business are too hyperactive just like the typical customers that they want.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

Quote from: ultrloa on February 13, 2023, 08:18:19 AM

Quote from: Strongkored on February 13, 2023, 08:09:26 AM

Quote from: Pierre 2 on February 13, 2023, 05:49:29 AM

I personally feel that they do. In my childhood I always wanted my dad to become shop owner so I could eat tonnes of snack for free. I think it's very similar with casino platform owners. They probably loved gambling, they always spent their life on it and probably in time they thought it could be very profitable business to own one... Its probably logical reasoning. I think they may decrease their gambling play time after they established casino. Casino owners are generally getting rich very quickly.

Maybe he plays because he has easy access to his own site but maybe not because as the owner he is already preoccupied with all kinds of developments and strategies to be able to develop gambling sites even bigger but what is certain is that gambling site owners are people who initially is a gambler and went into this business because he knew the amount of profit that could be obtained.

Maybe at start they are really a bettors and just familiarized how the sports betting or the casino runs then see the potential to earn base on the demand they see. But if we talk about they play then maybe not, since they provably think about on development side so for sure they focus their time on thinking about how their platform could grow and most provably they don't have time left to bet especially on other platform.

I'm sure the owners of the gambling sites are gamblers and regularly play or bet. It is impossible, having such a site not to start gambling. Of the latter, I can give you a good example, although it's not gambling related. After the collapse of FTX it was revealed that SBF and his girlfriend were involved in margin trading, and with users' money. I don't think it matters here whether it's a gambling site or an exchange. The point is the same.

Accardo

hero member

Activity: 1302

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: electronicash on February 12, 2023, 02:30:11 AM

Quote from: Accardo on February 12, 2023, 02:15:11 AM

Quote from: ryzaadit on February 10, 2023, 02:15:51 PM

Based on the story podcast on my local youtube with a former people who work in-casino (Thailand).

I don't think the top people who have some position like leader especially owner/ceo or other top position is gonna to gamble on their casino. But the one who are gambler to their casino is their employee.

It's common things, while people who working on casino are gambler as well. Sad to hear this, but casino/landbase should make some rules (All of the employee cannot betting to their casino, avoiding the payment check is back to them again).

Like "Ferarri" rules to their employee, they don't want the money they're pay are going back again to their company by buying the car.

I don't think this is right, those working in casino, not all know a thing about gambling. The croupiers are there to set things up or make arrangements for live games. Seeing them as gamblers can be wrong because most of them don't gamble and the CEO won't need such as it can ruin their business. The employees won't be serious with the business. Even in real casinos players always get disappointed with the void answers casino workers give to their questions, showing that they know nothing about how a machine works or the bonus a machine pays out. In addition, the few who gamble may not be allowed to play in the same casino where they work.

seem logical for casino to have rules like that. not allowing thier employees to gamble after all who knows best about gambling addiction but the casino's head office? they know this like the back of thier hands and they don't wanna handle these issues on thier employees.

but i bet they gamble secretly somewhere else or online at the competitor's casino. they got to spy on the competitor and hope to win.

Right the head office are in control of the programming section, how the machines should work. So, testing out and playing the machine is something they should know how to do, and they can easily get over their losses because they own the algorithm and maths involved in the casino. The employees on the other hand, are expected not to be addicted regardless of where they stake bets.

electronicash

legendary

Activity: 3234

Merit: 1055

Quote from: Beparanf on February 13, 2023, 08:38:27 AM

Quote from: LogitechMouse on February 13, 2023, 08:30:32 AM

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Business owners will not jump into a venture that they don't know themselves.

Same as casino owners. They will not jump into something that they don't know and knowing gambling is very addictive (to some), I believe that they gamble as much or even more as normal gamblers do.

Where are they gambling? I believe it's not on the casino or website that they own, but on other casinos or websites. Maybe they are doing this so they can see what are the features these casino or websites has and they might implement it into their own platform. I've also seen small gamblers here in our place who are also gambling, but on a different platform and not on their own platform.

Eddie the founder of Stake.com which you are promoting is the best example on casino owner that gambling on their own casino. He created promotion which is Stake vs Eddie that players on Stake needs to beat his multiplier in able to win. He is known for doing live stream of his game.

I believe other casino owner play on there own casino discreetly because they will not enter on this business if they are not into gambling by themselves.

https://stake.com/promotions/promotion/stake-versus-eddie

it does look like he is gambling but this is somewhat like enticing more people to play on stake. consider it a strategy of Eddie to market his own casino.

in the brick-and-mortar casino, there usually are VIP rooms for those high rollers and the casino owners could also be there playing for their own money probably guaranteeing the VIPs thier privacy.

Plaguedeath

hero member

Activity: 910

Merit: 680

Quote from: Beparanf on February 13, 2023, 08:38:27 AM

Eddie the founder of Stake.com which you are promoting is the best example on casino owner that gambling on their own casino. He created promotion which is Stake vs Eddie that players on Stake needs to beat his multiplier in able to win. He is known for doing live stream of his game.

I believe other casino owner play on there own casino discreetly because they will not enter on this business if they are not into gambling by themselves.

https://stake.com/promotions/promotion/stake-versus-eddie

He's gamble on a purpose, not only wasting his money without get anything Cheesy

When he gamble and he do live stream, it would attract people to gamble on Stake and they will believe if Stake is a good casino because the founder itself is gambling on his own casino.

It would be different if the owner gamble on the other casino without revealing his identity, of course he's want to make money or make bankrupt the other casino since he have a lot money lol.

Beparanf

hero member

Activity: 2954

Merit: 796

Quote from: LogitechMouse on February 13, 2023, 08:30:32 AM

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Business owners will not jump into a venture that they don't know themselves.

Same as casino owners. They will not jump into something that they don't know and knowing gambling is very addictive (to some), I believe that they gamble as much or even more as normal gamblers do.

Where are they gambling? I believe it's not on the casino or website that they own, but on other casinos or websites. Maybe they are doing this so they can see what are the features these casino or websites has and they might implement it into their own platform. I've also seen small gamblers here in our place who are also gambling, but on a different platform and not on their own platform.

Eddie the founder of Stake.com which you are promoting is the best example on casino owner that gambling on their own casino. He created promotion which is Stake vs Eddie that players on Stake needs to beat his multiplier in able to win. He is known for doing live stream of his game.

I believe other casino owner play on there own casino discreetly because they will not enter on this business if they are not into gambling by themselves.

https://stake.com/promotions/promotion/stake-versus-eddie

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Little_Mouse Campaign Management | OrangeFren.com

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

Business owners will not jump into a venture that they don't know themselves.

Same as casino owners. They will not jump into something that they don't know and knowing gambling is very addictive (to some), I believe that they gamble as much or even more as normal gamblers do.

Where are they gambling? I believe it's not on the casino or website that they own, but on other casinos or websites. Maybe they are doing this so they can see what are the features these casino or websites has and they might implement it into their own platform. I've also seen small gamblers here in our place who are also gambling, but on a different platform and not on their own platform.

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: Strongkored on February 13, 2023, 08:09:26 AM

Quote from: Pierre 2 on February 13, 2023, 05:49:29 AM

I personally feel that they do. In my childhood I always wanted my dad to become shop owner so I could eat tonnes of snack for free. I think it's very similar with casino platform owners. They probably loved gambling, they always spent their life on it and probably in time they thought it could be very profitable business to own one... Its probably logical reasoning. I think they may decrease their gambling play time after they established casino. Casino owners are generally getting rich very quickly.

Maybe he plays because he has easy access to his own site but maybe not because as the owner he is already preoccupied with all kinds of developments and strategies to be able to develop gambling sites even bigger but what is certain is that gambling site owners are people who initially is a gambler and went into this business because he knew the amount of profit that could be obtained.

Maybe at start they are really a bettors and just familiarized how the sports betting or the casino runs then see the potential to earn base on the demand they see. But if we talk about they play then maybe not, since they provably think about on development side so for sure they focus their time on thinking about how their platform could grow and most provably they don't have time left to bet especially on other platform.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Quote from: Pierre 2 on February 13, 2023, 05:49:29 AM

I personally feel that they do. In my childhood I always wanted my dad to become shop owner so I could eat tonnes of snack for free. I think it's very similar with casino platform owners. They probably loved gambling, they always spent their life on it and probably in time they thought it could be very profitable business to own one... Its probably logical reasoning. I think they may decrease their gambling play time after they established casino. Casino owners are generally getting rich very quickly.

Maybe he plays because he has easy access to his own site but maybe not because as the owner he is already preoccupied with all kinds of developments and strategies to be able to develop gambling sites even bigger but what is certain is that gambling site owners are people who initially is a gambler and went into this business because he knew the amount of profit that could be obtained.

SeaSoul

sr. member

Activity: 728

Merit: 250

Quote from: Rruchi man on February 10, 2023, 01:56:36 PM

Farmers who have chickens for eggs especially on a large scale, easily get tired of eating the eggs from their chickens or even eggs in general. Caterers get tired of eating their own pastries, just as people who are exposed to certain produce get tired of them due to over exposure. Do you think this experience is the same for casino owners and owners of sports betting platforms?

Do you think that the owners of casinos and sports betting platform, gamble as much as other people do? If they gamble, do you think they gamble on their platform?

The question would be more interesting if you take into consideration some relative numbers as well. What does as mucheven mean here? Do you mean in terms of time or in terms of spending on gambling relative to income?

Take a casino owner who makes 100k per month and he spends 1% of that on gambling but only plays once a week. The guy is still fine if he sets this limit for himself and that's it. If someone is an excessive gambler, I don't know whether it is likely that that person runs successful casinos and has always been an excessive player. It could be the case, but I would imagine that people running successful businesses do have some self-control that might be stronger relative to another average person. There is also the difference that a casino owner's motivation for gambling might be different from that of an ordinary player. The intent might rather be to represent a casino on certain occasions or use one's own reputation (if there is any) to attract new players etc.

Topic: Do casino and sports betting platform owners gamble as much as other people? (Read 704 times)