Topic: Do Owners of betting companies bet? - page 14. (Read 1691 times)

I think so yeah, but they probably do no bet for the money, perhaps kust for the hell of it. Might even be the case thatcthey bet in their own company using a pseudonymous name just so they can check and micro manage every feature and perk that they want to offer. It has happened in the past at least. It could also be the case where notable figures play in their casino and to keep them company the owner sits with them on the same table to make acquaintances and socialize, although this is primarily reserved for land-based casinos only. Either way owners betting on their own casinos isn’t so much as a far-fetched idea per se.

It is their prerogative to gamble in their platform. Maybe, even if there's some statement on their terms,
I guess, we will never know. Because who knows, some of these owners are fan of specific sports and they also do want to bet.
So instead of betting in other bookies, they can very well use their sportsbooks on this regard.
And the advantage here is that, even if they lose the bet, at least it is on the house, right?

Personally, this will depend on each individual. Even if they also place bets, it could be that they are one of the whales who are betting on big matches or betting. Not a daily bet for small things.

When it comes to whether gambling platforms prohibit it or not, this will also depend on the policies of each platform.
However, there are indeed several platforms or casinos that prohibit the owner and some staff from gambling on the platform or casino.
As reported here:
https://www.lasvegasadvisor.com/question/casino-owners-gambling/

You know the answer, we never know. It's simple, first of all, we don't own the casino. Additionally, without casino owners having to bet, money flows freely into their accounts. and to me, this is relevant logic. but okay, let's talk about it and try to imagine. if, someone owns a casino, or let's say he owns a crypto casino. Even if an owner likes gambling, he will gamble elsewhere. why, yep because the answer is simple. what is certain is that he will not find the pleasure of playing in his own casino.

Let me take an example, you can play slot machines with an unlimited bankroll. Apart from that, every game you play can be set to always win. then, what's the fun if that's the case? Ideally, casino owners could gamble in other places or casinos that are not owned by them. there are many reasons that could be the scenario. but ideally, brands will choose to gamble at land-based casinos with their business partners. even then, just to fill free time or to be invited around the gambling environment. It could also be, with another scenario. The point is, there are many possibilities. But what is certain is that when you own a casino, you will be busy with the business you run. whether it's trying to develop the business to a bigger stage, holding lots of meetings, meetings with your members, exclusively or with your staff. So, you will be busy spending a lot of time, and I think this is the most relevant from my personal point of view.

This is just common sense. You own a company and there's no issue using the services that your company offer. It is also preferably for company owners use their platform instead of other unless.

Just think of it of having a business that sells groceries goods, where would you get or buy your grocery? The same concept goes for owning a gambling platform, and there's no policy or any conflict of interest would restrict them from using their services. There's even no question of ethics as you own the platform and if you cheat on it, then you cheat of yourself.

I have also sometimes have such in mind to ask but however, I think they are eligible to bet but the question is... Who gets you paid when you wins? Because the funds in a winning company is ought to be generated from lost players and the most wish of the bet company owner should be that there should more losts in the bet site so that he can accumulate as much as in the betting account in other to secure chances Incase there could be a winner somedays.
However, the games can still be programed in a way that no one on earth can bet a successful winning because the betting programs was structured and programed my humans so the system is just acting according to orders of the programmer.
Else I would say the bet company owner knows better about the strategical winning formats but doesn't have to play because it does count a profit when you wins yourself.

My thoughts though!

As far as they're not the ones that's manipulating the results of the bets, I don't think there's anything that's gonna stop the owners of betting companies from engaging in betting even in their own companies because when it comes to betting, every eligible person is free to place bets.
Talking about conflict of interests, I don't think there'll be anything of such nature because owners of gambling companies do not determine the result of games so they're free to gamble just like everyone else and hope to either win or lose their stakes

As a CEO of a gambling company I don't think there is any need for one to gamble on the same casino he owns. That may be done most time fro fun. We can just make some bets and see how the casino really works so that one can put room for any bugs or adjustment. Most platform do have a test run or a bounty for users to check the casino so in case there is any bugs that needed to fixed so user experience would be pretty easy and addictive. If I have a casino, I don't think I will have the time to gamble on my casino because I would be busy to to expand my business.

Things like this one are not only unethical, but also illegal... big guys do whatever they want, but they need to cover their tracks, if they do not do that they will be marked, one way or another.

So nobody from here can give you a straight answer, and if someone does that he will jeopardize some big whale. Some things are not talked about... that's just the way it is.

Everyone is after earning from the system and ensuring the pay days comes heavier than the sad days. Is it improper for an owner of a gambling center sits down and gamble with his customers? in some cases its demonstrates true leadership and cooperation but its not favorable in some scenarios, were it tends to ruin the reputation of the owner if he's an addict of gambling, he will gradually wrecke down everthing. Owners of betting companies are also human being like ourselves, they interacts with their workers for the purpose to know how the business is flowing.

If they bet and win the question is who pays them, it's going to look more like recycling of funds because wether they play and win or not, they still get paid daily from the losses of other people so I don't think they really do or if they do maybe they try it out just to catch some fun.

I don't think there would be any conflict of interest and there's no policy set by the casino that restricts certain calibers of people from gambling especially the owners of the casinos, because for land casinos where they have gaming house, some casino owners actually play in their casinos and they don't don't it unethical in anyway as it in no way affects the customers or the reputation of the casino or its owners.

I get what you're saying.  I just meant they could do it if they wanted, not that they had some reason to.  Least not one I can think of, anyway.  Is it for some money loop thing or just to get their stats up? Definitely makes me scratch my head.  Only thing that makes sense is maybe they wanna seem more popular than they are.
But hey, we don't really know what's going on behind the scenes with these online gambling companies!  

It's like asking if restaurant owners eat their own food, if mechanics repair their own cars in their garages, if builders also build their own houses, not only their clients.

I'm pretty sure that most casino owners also gamble, but it's a bit different when it comes to betting against your own house. I don't think they play dice because winning would mean a loss for the casino so the money would come from your own pocket but playing against other people like you do in poker makes a lot of sense.

I do not think it is bad, Casino owners can sit with customers who visit to gamble, not as the owner, but as a regular customer too. In such a setting, the owner of the casino will be able to get real feedback about the services of the casino and why the gamblers like to gamble there. They will also be able to get and discover ways that they can improve their services from the little side complains that the other customers around him make without knowing that he is the owner.

Casinos often don't run all their games. Sports are managed by contracted bookies who are larger companies, collecting bets from multiple casinos, which allows them to get better deals and more reliable odds.
That's why you can often see casino support say that their bookie found that someone was cheating and told them to ban that person.
This makes me believe that casino owners and personnel bet themselves and it wouldn't even be unethical or anything, since many of these games have hundreds of thousands individual bets placed from all around the world. It really doesn't change anything if they add some of their private money to the pool.

The owner of a bet shop will not necessary bet to win, he or she may bet as part of fun because whether he wins or losses, the company is his and he gets the profit. Also, the owner of a bet shop may bet as a way to test a new gaming feature or technology.

As regards conflict of interest, it may only arise where as the owner, who may have access to sensitive information may try to influence  the gambling out if or whenever he bets.

I am not a owner of a betting company, but if I had to give an opinion I would say that indeed owners of those companies partake in betting to some extent, specially those which are considered to be big enough, translating into a person which enough personal budget to put at stake.
In general, I have a personal perception that successful company or business owners are supposed to know as much as possible about the market they get into, to take wise decision in the future and guide their company and brand in the long term, keeping that idea in mind, it would not be crazy to believe they avoid to gamble or bet completely because they fear to get addicted to ruin themselves in the process. If someone has been able to start their own business, it is because they have enough sense of budgeting and money management.

Again, that is just my personal opinion, I have never personally talked about this with a business owner who deals with betting.

What don't you understand by the term owner, I mean if you are owner of a big firm or company do you have any restrictions on what you can do or what you will do?. I think as the owner of the company that decision all boils down to wether you are actually a gambler or not because not everyone is actually a gambler and I believe most of the owners of these companies are actually gamblers.

If the owner of the betting company bets on their own platform, and then loses his bet, he has lost nothing because the money goes back to his company. I do not see any reason why they cannot gamble on their platform when they will not be able to still influence the outcome of the game in their favor.

Imaging if the owner of a casino or betting platform win big from betting and playing in their own casino or betting platform, I am not sure they will be interested in taking out that money to pay themselves the huge win. It is pointless taking money from yourself to pay yourself when you already receive an income from the business.

If he or she wants to play, then they can play at their own casino but this seems to be rare. Even if a casino owner wants to gamble, I guarantee they just want to have fun and not think about winning because for them the casino's income will be greater than their gambling profits.

However, if we talk about challenges, it might be more challenging if the casino owner plays at another casino. He will also know what services and advantages other casinos have so that he can apply and improve the shortcomings of his own casino.

But this is just my personal assumption. I have never seen or heard of a casino owner sitting down and playing blackjack in his casino with other gamblers