Topic: Do Owners of betting companies bet? - page 11. (Read 1650 times)

Mostimes, alot of gambling companies and sites are owned by chronic gamblers themselves. They won't dare wager into the company's funds as that would already predict the future of the casino; the more funds he utilizes selfishly, the more predictable the fortune of the casino is...
I worked as a cashier in a local casino house and I was later informed that the boss lost over 6 million naira on virtual games... Things like this happen but they won't tell you.

Sandra 🧑‍🦰

It may look like a conflict of interest but if it's online there is no way to know if the owners are playing on their platform, but if it's offline there is no way to hide their identity, an owner can play online on their own platform for site testing and to check and compare the interface based on the players against their competitor I see nothing on it as long as they are not manipulating the outcome and favor him.
I don't know if players are concerned if owners are playing on their own platform because, in my opinion, I don't care if he is playing, it has no bearing or concern on my gambling session.

What makes you think they don't want to do it? I think they will do whatever it takes to make their platform very active and attract a lot of interest. I heard some casinos pay people to bet on their casinos, they can even pay influencers very high fees to promote them. Anything can be done when the casino has the money and that includes letting teams gamble at their own casino for the intended purpose.

I agree that gambling in one's own casino to convince other gamblers to bet more is highly unethical, but it can be done and people don't even realize it at all. They can pay influencers anywhere, but I'm not surprised that the biggest whale in one or two casinos is themselves, especially online casinos.

Well he can do it, but as business owners, do they think that it will be good for the image of the company is someone found out that they are betting on their own platform? And then we will also suspect that they win right? But it doesn't make sense as all taking that winnings and then what? So maybe there are owners, but I doubt that majority of them are gamblers in the first place. This are business for them, not a way to gamble. Doesn't matter what the terms of policy is, they shouldn't do, simply as that. And as you have said, it's a conflict of interest to them, so that will be illogical and preposterous.

The answer to this question will depend on the country's policy, the terms or service of the casino and the attitude of the owner. If it is not against the law or terms of service of the casino, then he is free to gamble in his casino. And if he is also a gambler and wants to enjoy himself or win some money, it's not bad. But it will become abnormal if he starts engaging in shady deals to deceive customers.

I think OP's concern is that if any laws restrict the owner of a casino from gambling in his own company. He is assuming that casino owners could manipulate the outcome of the games since he is the has control over the business. Some sports rules restrict players from placing a bet on their clubs because of the fear of game manipulation because player's actions or inactions can affect the outcome of the games. So I think Op has a genuine concern that the owner of the casino might have the power to manipulate the outcome of games especially if they are in-house games.

These people are the players who now play for fun because they already have the funds in excess. They control the market and may have bigger gambling troubles to control or worry about. They may now be worried more on how to manipulate the gambling world to garner more profits. I don't think they'll waste too much time playing slots. Their time would be mostly on manipulating slots results. As they're the house we are playing against. Gambling is not a one man game, we compete with them not AI. But, the bigger gambling troubles I'm referring to, is their efforts in manipulating sports gambling. The rumor that gambling companies control the scores of games, isn't just a rumor. It's somehow true. Because fixed games are what fetch these gambling owners more funding. The money they wager in manipulating results, is also gambling. As the highest bidder wins. If for instance a group of gambling owners wants a specific team in sports or a person to win a game they can use money to rub the match or boxing event. Hence, these things are most likely to be what bothers them, than consistently playing slots or card games with us that patronize them or collectively fetch them the huge amount of money, which they use in their con against gamblers. There're levels or stages of everything. The type of gambling we know isn't the type casino owners participate in. There may belong in a small circle gambling club, with higher possibility of winning. No need for them to always play games in their own casino. That wouldn't be fun at all.

I think that there's a conflict of interest if they do that with their own casinos. If you see one of them does gamble on their own platforms and they are advertising it, you know that there's always the catch that can be done through marketing. And that's why they're doing it for the sake of their own branding and not for them as they gamble.

And if they gamble somewhere else, in other casinos, there's a tendency that they're trying to get familiarized with other casinos for them to see if there's any gambling experience from those and to what they own. The comparison will be there for them to check everything out and if there's anything that they can apply or change to their casino, they will have to.

That's why we don't know if they do or not, and if they do then there goes those possibilities that we're talking about. But I guess that most of them are just doing it mostly for business and never do it for their own pleasure.

From my own perspective I think that if they want to gamble for fun the casino owner can do that either in his casino to promote his business or gamble in some other casino to see how their features are like. I don't think that most of them gamble because they know that the house hedge will always win.

It is better not to gamble when you own a casino to avoid you from being tempted to gamble most times because you will be able to afford any amount that you want to use in gambling since you own a casino.

Perhaps you are misunderstanding it what OP is asking. He did not ask if the manager or workers of the company do bet. Because i know the owners of betting companies are not the one who does the main job they have ambassadors, managers and project directors who are the to handle everything within the company. So, they have all the time to bet. However, one who is not passionate about betting will not own a betting company. The owners of betting companies are the biggest and richest gamblers in my own opinion.

There must be some rule or regulation about people from the management gambling in the casino they are managing, I'm not sure if they are allowed to do that or not because I've never read or heard about any such rule and even if they do gamble, it's not like they will or can manipulate the results and make them in their favor, especially if it's the owner itself because it doesn't make a lot of sense winning money from your owned casino because the revenue is already yours to have after all the expenditures, salaries, and stuff.

However, if a person likes gambling, even if the own a casino, they can gamble somewhere else, not to earn money because they don't need that, but just to have some fun and pass their time if they have free time and they need to do something in that free time, they can use any reputable platform for that.

It is not known exactly whether the owners of the betting companies do the betting but I think the casino owners usually handle all the gambling. Everything that happens in the company is under his control. Even if he doesn't bet he is so profitable because he gets a percentage of the gamblers who are betting using his platform also the gamblers understand everything about the various activities they may not have while betting. There are many online casinos the casino owners have different policies to determine whether they are properly licensed for gambling activities and their licensing regulations. Owners readily provide license information to gamblers if they wish to check it.

The platform owner did it without anyone knowing. They also don't have to bet on their own platform, although there are many platforms they can use to place their bets. What is certain is that we will not know whether the platform owner is placing a bet or just waiting for the profits to come. But if it were me, I would wait for the profits to hit my wallet while keeping an eye on my platform.

And if I want to place a bet, I'm going to place that bet on my platform rather than going to another platform. But using other platforms can be something different so I can know what's different about the platform I have. This can help me to get ideas that can improve my platform and provide more satisfaction to my customers.

In my opinion, the owner of a betting company is no different from other gamblers, if he as well as other gamblers do not know the outcome of the game on which he bets. Therefore, I believe that the owner of a betting company can make a bet where it is convenient for him, even in his company, because it does not contradict common sense. If he has some levers that give the opportunity to cheat, then it is definitely unethical in front of other gamblers and most likely violates the law.

Owners of betting companies used to be active gamblers but are now passive gamblers. Betting is not fun anymore for them. The real fun is making money from the gamblers. This is not about ethics or the company policy, it is something they have seen that the ROI from one gambler using their platform is almost 100% so why should they bet. And if they need to test a new feature or so, they would just recruit gamblers who would give them their unbiased opinion about it. I think it is called a review of their product or feature.

I think betting on someone else's platform would not make sense, you have your own sportsbook, why would you want to bet anywhere else? That doesn't really make sense to me at all. I think it is clear that we are talking about a situation that would be less than ideal, it turns out that we are talking about a situation that would be a bit weirder to handle.

Hopefully, if we could end up with a situation that would make it change, then we could say that it is going to be like owners betting BUT not with company money but their personal money. That is the real question, are they using money that is still in the company, like making the company bet on some games, or are they using their personal funds to gamble? That's the question.

Well, they should know better than to bet. Ironically, they probably know the dangers and consequences of gambling addictions better than anyone. But they are human just like me and you, so obviously they are going to bet, some more than others, but they all bet anyway.

They probably have much larger gambling funds than us, though 

I see nothing wrong with gambling as long as you remain in control, assuming you are the kind of person who knows how to remain in control when gambling. Not everyone has that ability.

Casino owners betting on their casino shouldn't be much of a problem when the funds will go back into their pockets anyway. I assume they place bets on their casinos for other purposes (already mentioned by the posts above) and not for the usual reasons as most gamblers do. I also don't see a good reason why they shouldn't be allowed when they have the power to do whatever they want in their casino.

True. I always see this part mentioned in Stake's promotions.

I think most people that love a certain kind of habit or indulgence, soon develop a nack to know more about it and often times do invest in making it a reality because of the passion they have for it.
My talk is related to even betting company owners, because one thing I have known in my entire life as a technologically advanced being, is that the owners of a company often patronize their business to also ascertain how the customer service, general service and response is, also to show they are more interested in their business than any one individual patronizing their business.

Of course they do!!!

Fyi, No one person is a better ambassador than the owner when it comes to marketing his product and services, if he/she gambles this act alone can give confidence to others that the product works and you are being rest assured that you will too get the best service and play without worrying.

Besides, incase bugs are reported and owner wants to get a first hand experience, what better of getting all this information by themselves and it's not like it's prohibited, it's all entertainment and an owner supporting his own business.

I don't know if you mean gambling seriously or not, but the owner of "Stake" always gambles when the weekend comes. Of course, his betting on his own platform is for entertainment purposes and to entertain his viewers on Kick livestreams.

I doubt if it's about a platform owner using his own gambling platform, why would he gamble on his own platform? Won't it later cause problems for other owners? So, in theory they won't bet on their own site.