Topic: Do Owners of betting companies bet? - page 10. (Read 1650 times)

In the case of the lottery, there are regulations that the owner, his family members and employees are not allowed to buy the lottery. They can buy lottery in other places so they don't manipulate the lottery results. But we don't know about other gambling games. Maybe they still gamble at the casino too

But as a casino owner, your focus should no longer be on gambling but on making money from your business. Casinos are places of business that can provide a lot of profits, especially if the casinos have developed and become increasingly popular.

I don't think there is any problem if betting company owner takes a bet. Because Betting is an open platform anyone can bet however they want. Casino owners have no laws or regulations that may prevent them from betting. But usually the owners of betting sites are not encouraged to do this because they get a passive income from their site which is risk free for them. Since they are regularly earning huge amount of money from it daily and as their site expands their income will increase so they will always spend time to grow their business. They don't bet like normal gamblers.

No, if we have friend who is successful in the casino business that doesn't mean we are also successful because no one will ever know each person fate and friendship will never be measured by the success they get.
Example, of course you have quite lot of friends and I sure some of them have achieved success but are still you are still here.
Don't assume that when you have successful friends we are also successful people, that not true.
And the activity of casino businessman may only be checking and monitoring how the business is running so that there is still time to gamble if they want to.
But I not sure they use their free time to gamble because people with huge wealth and successful businesses always have different ways to have fun and get entertainment.

I would guess that owners and their family members not being allowed to gamble at their own casino would not be on their TOS but on the law itself.

As in the case of state lotteries it is directly stated that those that are employees that take part on organizing the lottery cannot participate by buying lottery tickets for themselves or their families, since if this was allowed then there will be a temptation that will be too high to manipulate the results on their favor, and I would guess a similar regulation must be in place when it comes to private casinos.

If we have a friend like that who owns a huge business like a casino, then I'm sure we are not here now in the Bitcointalk forum because we are likely a businessman as well, and you know them, they are always busy. A middlemen might be different from the casino owner. They don't own a casino, but if they know someone who owns it, then maybe they can choose to play on that casino as a way of showing a support.

As for the casino owner, I think it's obvious that they will always play on the other casino because how can they earn a profit if they will only play on their own? Unless if they are only playing to get entertained. That way, they will never lose any of their wealth.

Yeah, It could be said that some of these casinos have T&Cs that do not allow the owner or staff of the casino to gamble on that platform or casino. And that is certainly probably written in the T&Cs, so that gamblers will think that they can't join. However, there is no guarantee that it won't happen. It's true what you said, it's impossible for them, especially since they are casino owners who have power. It could be that they do have various tricks to do it. Would we really be able to know if they did it too? Especially if it's online, no one guarantees it.

Well, the matter is up to the owner, whether they are still at the level to directly engage in gambling or betting on their casino or not, or only at certain times when they want to play. Because of course they are also more focused on the earnings they get from gamblers on their platform. Or they actually prefer gambling or betting on other, more public, platforms. We may not know their 100% reason for getting into gambling of their own or any other.

Why would there be a policy that restricts certain people from gambling especially company owners. They own betting casino doesn’t mean they control the games or the players playing the the games, they are also just a normal participant and I don’t see a reason why they should be restricted from gambling on their own casino.

If a owner of a gambling company is into gambling also he would prefer to make use of his own company to gamble so the benefits these companies get from gambling will not go to another company. Why waste money to buy a car from another company when you make cars yourself.

I would imagine that the owners of betting companies do place the occasional bets, but only because they are often rolling in money and simply don't have enough places to spend it. They are some of the people who are most aware in the world about the dangers of betting, because their fortunes are built on top of it. Of course they'll have the odd flutter, but they have often built an empire based around financial control and calculated risk, so they are going to be much less susceptible at falling into dangerous gambling habits. It's likely that they'll join in as part of entertaining guests, because they will have very deep pockets and it is not going to make any long term impact on their wealth, they only see it as a small bit of fun.

We can't be sure as it is a personal choice and we don't get to interact with the owners of gambling platforms. Every gambler will be having their gambling experience and most could've begun the development of their own platforms out of it. Most of the gambling platform owners might've experimented their platforms functioning, but they might not be regular gamblers. I also have a thinking that the owners might spend little on the competing or the other gambling platforms to know the good and make it implemented on his own platform.

For me I believe that owners of betting sites or company also bet games but it is only at a point of a heavy stake by a gambler as he might be afraid of the loss he will incur if the game eventually plays. So a situation where there is a heavy bet, what most betting promoters and bookmakers or owners does in to stake at least half of the money that was staked at his site to another betting site so that should incase the game plays then he won't face much pressure of payments rather he will feel relieved and if the bet loses as well them he have achieved part of the money.

It is very important for us to be very smart in gambling more especially the owners of betting sites and companies though i know they don't even wish their stakers to win because imagine someone using just a little money to win huge amount of money. So such situations the owners of the betting sites doesn't seem to be happy. So in the case of heavy bets by a gambler the best is just not to be greedy, then use part of the money from the heavy bet and place the same bet to other companies so that incase the game wins then you won't have to pay so much money again.

If he is the owner of his site what would be the point.  It would go into his profit and loss, and honestly he would end up losing as he would have to pay taxes on his winnings or profit if his casino won.  I don't get the point of why someone would do that.  Maybe they would bet on another site to lessen the risk they have on their own I could see that happening.

Gambling is different to drug when it comes to their effects and that's why I don't think it's cool comparing the effect of betting company owners and that of drug dealers taking drugs from the ones they sell to others. Gambling is easier to engage in responsibly than drugs and that's why I don't find anything bad in betting company owners engaging in gambling on their platforms.
I don't think there's any rule that stops betting company betting owners from gambling because they don't any influence on the results of games so just like every other adult, they're eligible to to bet as much as they can

just like drug sellers, rarely will they be successful if they use drugs too so i don't think that the owner of a gambling business actively gambles, he is definitely too busy taking care of his business so he won't have time to gamble, besides that there are many things that must be taken care of if you set up a gambling business, being an active gambler is not something that is easy to control, especially since gambling is a game that doubles your money, but i can't be 100% sure that in this world gambling owners are not gamblers, maybe in other areas the culture is different.

What I think about this is that when it comes to doing things well, an owner of any service or of a casino or of any company needs to test his product, and obviously they just have to work, to see how everything is, or From the Advantage of the house , such as the user experience, of course the owner of the casnio has to try the games from time to time, you can do a normal test and see and test how everything is going there, with some money you can see many things, like you can actually see it from the point of view of being a new user, and you see some errors and problems that can cause some things in the casino, but seen from it He's supposed to be the boss himself, but if the boss plays for him, that is, if he plays for profit for himself , I don't think so, because it's his own company, he will only be supervising how everything goes, in fact I would supervise how they treat those of support to other people because that is very important.

The owners of the companies are always there, some of them are supervising all day, for them it is the best job that all things are working well, then things when it comes to how to do it so that an employee can go and try things , or their own workers make everything work well, they can even make the machines themselves change their parameters so that they win , I don't know if such a thing is possible, but in part it could happen that yes, then these types of things are possible in every company, always That the boss is there or is there, well, things happen so that they can do things that way, so the company bosses, in this case in a casino, do not seek to win, they always seek to have the best experience so that they can Therefore, I believe that the owners of casinos, of platforms that are for Fun , do not play for themselves, they Play to try to see how their clients might feel, and if the experience is not good, then they have to correct what is Necessary.

Your point about platform owners betting at first as a way to get people to sign up is interesting; this is a murky area of online gaming ethics. But there is more to the intricacy than that. If the owner is hooked on gaming, this mixes personal issues with business ethics. Betting on their own platform brings up questions of justice and openness. It's important for platform owners to keep a clear line between their jobs as managers and participants. That being said, your idea of owners betting to find technical problems is a good one. There are, however, more organized ways to do these kinds of tests, such as using models or hiring beta testers. Do you think that using real bets for tests could make things less ethical?

But no one knows if the casino owner is gambling in his casino unless someone tells all the gamblers that the casino owner is gambling with them. But if I were a casino owner, I wouldn't tell anyone if I gambled at my casino. This is to avoid suspicion of the gamblers if I become the winner because they will definitely think that I rigged the game. But it's better for me not to gamble and collect the money that goes into my wallet

Not gambling at my casino will prevent gamblers from thinking that the casino I own will only cheat gamblers. I don't want that to happen so that I won't gamble in my casino.

Maybe at the start of the platform launch they will also place bets to make it appear that the platform is busy with visitors and has many users. You could say this is a basic form of promotion, but once their platform becomes popular then usually they won't place bets anymore, but if the owner of this platform is a gambling addict then chances are he will always place bets every day. especially if he is aware that he is the owner so he will easily do anything because he has full control over his platform, betting on his own platform in my opinion is also something that platform owners should do so that they can find out if there are technical problems on their platform and can be repaired immediately.

Very much possible, BUT why should an owner needs to place a bet when his business are constantly earning every time someone placed a bet on his gambling platform? I mean that reason alone is like winning every single time. Besides, if someone finds out that an owner was betting on his own platform, it will cause some doubts from the users who uses their platform and they will consider it as an unethical act which will cause a damage to the platform's reputation and it can potentially cause your business to be compromised.
Nobody wants that to happen, so I guess keeping your bets away from your own platform will keep your business alive, rather than risking the reputation of your business.

If I were to guess I would think that an owner of a casino has a passing interest in gambling, so even if they are not avid gamblers themselves they may enjoy it once in a while.

However regardless of whether we are talking about a physical casino or an online one I think there is a conflict of interests here if the owner were to gamble at their own casino, especially if it is a game like poker in which they are facing other players, as then there could be the suspicion they are receiving better cards or the results are being manipulated in some way in order to let them win.

I do not think that there is a policy which restricts them from betting as they are the owners of the platform in the first place. In fact, they have the power to stipulate anything on the TOC that can either prejudice the gamblers or himself in the process. Additionally, he has also the discretion whether to fix the rates and to determine the house edge of the whole casino.

I also do think that they try their own platform just to check if there are bugs or problems that a future gambler may encounter. Nothing restricts them completely as they are the owners in the first place. They have the freedom to do anything and to change anything to their liking.