Do Owners of betting companies bet? - page 4.

madnessteat

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Quote from: maydna on December 24, 2023, 08:25:20 AM

Quote from: Kelward on December 24, 2023, 07:07:53 AM

Quote from: maydna on November 11, 2023, 11:32:03 AM

~snip~

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

It seems to me that big business owners, which I include casinos, can get dopamine even without gambling. When you see your bank account balance increasing on your monitor screen every day, you hardly need this kind of entertainment. You are constantly in an elevated and euphoric mood. I think such people have more pleasant options for spending their leisure time. Such people know the value of money and use its value as much as possible.

Marykeller

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Yeah, they do but it is always in rare case for someone to see a casino owner partaking in their own gambling company. They one's that those, always do it in secret with their cartel friends not openly when they are seen, or even better, they move to a different casino where they are not known by anyone.

maydna

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Quote from: Kelward on December 24, 2023, 07:07:53 AM

Quote from: maydna on November 11, 2023, 11:32:03 AM

~snip~

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

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Quote from: Negotiation on December 24, 2023, 03:57:41 AM

Quote from: Docnaster on December 23, 2023, 06:33:32 PM

Quote from: alastantiger on November 11, 2023, 10:37:18 AM

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I do not think that it is necessary for an owner of a gambling company who takes people's money to begin gamble again. They make the bigger money by being the owners, so why would they want to waste their monies again. Incase of the purpose of having fun, they can bet on their platforms. Mind, when they are betting, they aren't doing so as the owners but as a gambler because on the front screen, they cannot determine what happens behind untill they are there.
But if you say I should take a same opinion or my personal opinion, I would say that majority of casino owners do not even gamble anymore. They might be gambling before owning the casino but might eventually stop gambling when they start making monies from people.

That's right gambling company owners already have so much money they will never spend their time gambling. If there was no money he would never have owned a casino even though they earn a lot of money from the casino and play for fun it doesn't affect them so they can bet to pass the time. The casino owner's job is to oversee everything in the casino someone breaks the rules of the casino and solves the problem by verifying them properly. Casino owners are not accustomed to gambling.

When someone owns their own business in the field of gambling, they also see some of the bad aspects of this product, but of course, they will overthrow these arguments and stand on the interests they want. And on the other hand, they will not abuse these products like users because it is no coincidence that this industry is known to everyone as a trend to make quick money, abuse only amplifies the benefits for others. Casino business owners are not omnipotent, they can easily be swallowed by others when they make basic mistakes with this product.

Barikui1

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In gambling it's really difficult to see the owner of the gambling site, company, business owners gambles because they didn't sees it as the best way of making money, they prefer owning it, because that's where the money is.
They are already aware that the possibility of winning is like 95% to 5%, unless they just want to try their luck, and they do it with just a few bucks.

bangjoe

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Quote from: oktana on December 24, 2023, 06:48:50 AM

Conflict of interest in his own company? Unethical? Not at all. He owns the damn company, if he wants to gamble too, he will gamble. It’s a service they are offering. Is it a crime if he uses his own service? Uber owners shouldn’t book an Uber ride? It’s his choice. But think of it, Uber owners definitely have their cars, so technically, the owner of the gambling company would most likely have so much money that he doesn’t need to risk anything to earn more money. Just sit all day and make more money. Haha.

Logically speaking, if the owner of a gambling company makes money on a gambling platform that he created himself, of course this is impossible, because he knows what gambling is and he will definitely make money, but if the owner gambles to look for fun or try out the platform that he owns, that is This is normal and there will be no problems that will occur, there will be no internal problems, unless he uses the back keys that he knows in his platform and uses them to gain double benefits.

But who knows, since some casinos do not require self-certification to play, it might happen. I agree with you that the owner not using his own platform is not a problem and as far as I know it is not a rule that the owner does not use it.

Kelward

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Quote from: maydna on November 11, 2023, 11:32:03 AM

We won't know whether the betting company owners are placing bets or whether they are just collecting the money. Even if they place a bet, they won't tell anyone, even their employees. They will probably use another account so that no one knows they placed a bet. They can also place bets at other betting companies if they wish. And again, we won't know what the reason is, and they certainly won't want to say it. But I think it might be better to take the profits rather than have them place bets. After all, it's a bet. They definitely have a chance of winning and losing unless they know the final result Grin

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

sompitonov

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Quote from: Mauser on December 24, 2023, 05:59:17 AM

Quote from: sompitonov on December 24, 2023, 05:32:50 AM

I think most of them do not place bets, because this can lead to the destruction of the business if you get too carried away with it. The owners know perfectly well how their business works, and if it is a profitable business, then why all this? They can also place bets and show how they play or test new games. I have been following one public gambler for a long time; he lost huge sums, but at some point he decided to open his own casino. Now he has moved to live in Portugal and is buying himself expensive cars. Despite this, he continues to place bets, because his business allows him to do this and he is very happy with his life. Still, there are very few public casino owners and we cannot know complete statistics on their bets, but it would be very interesting to take a look at this.

That's exactly the point, if someone is used to gambling and places bets regularly before owning his own company, than he will probably keep doing it. There is a difference between money we earn through our work and how are we going to spend it. Just because someone owns a casino doesn't mean he doesn't have things a likes to do for fun. The advantage is also that the owners know exactly where there money is going and even if you lose your bet, you will end up with higher profits in the company. Tax wise it doesn't make sense to use taxed personal money to gamble with, because we would have to tax it again if we take money out of the company. But if you had to choose to bet at your own website or at the competition, I think most people would prefer their own.

I think the owner would prefer to play in his establishment or on an online site. I’m wondering how he chooses the slots to play, whether he’s hunting for the jackpot or playing only because of the theme of the slot. Oh yes, it just occurred to me that probably some gambling sites should definitely have a condition that prohibits employees and owners from playing. If the owner won the jackpot, it would look very strange and could undermine the credibility of this casino. And it is very difficult to earn trust and authority when there is a huge selection of different sites for playing around. If I were the owner of a casino, for this reason I would not play slots with a large jackpot, but only with small ones, where the chance of winning is greater.

oktana

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Conflict of interest in his own company? Unethical? Not at all. He owns the damn company, if he wants to gamble too, he will gamble. It’s a service they are offering. Is it a crime if he uses his own service? Uber owners shouldn’t book an Uber ride? It’s his choice. But think of it, Uber owners definitely have their cars, so technically, the owner of the gambling company would most likely have so much money that he doesn’t need to risk anything to earn more money. Just sit all day and make more money. Haha.

leonair

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Quote from: alastantiger on November 11, 2023, 10:37:18 AM

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

The casino site owner manages his site according to his own plan so of course after his developer site maintenance the site owner himself gambles to verify that his site is fine and everything is running according to his own plan. But they don't gamble on their site as an addiction. Gambling is a fun place so it is natural that a site owner would like to enjoy his free time and gamble on his own site to avoid financial loss.

Mauser

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Quote from: sompitonov on December 24, 2023, 05:32:50 AM

I think most of them do not place bets, because this can lead to the destruction of the business if you get too carried away with it. The owners know perfectly well how their business works, and if it is a profitable business, then why all this? They can also place bets and show how they play or test new games. I have been following one public gambler for a long time; he lost huge sums, but at some point he decided to open his own casino. Now he has moved to live in Portugal and is buying himself expensive cars. Despite this, he continues to place bets, because his business allows him to do this and he is very happy with his life. Still, there are very few public casino owners and we cannot know complete statistics on their bets, but it would be very interesting to take a look at this.

That's exactly the point, if someone is used to gambling and places bets regularly before owning his own company, than he will probably keep doing it. There is a difference between money we earn through our work and how are we going to spend it. Just because someone owns a casino doesn't mean he doesn't have things a likes to do for fun. The advantage is also that the owners know exactly where there money is going and even if you lose your bet, you will end up with higher profits in the company. Tax wise it doesn't make sense to use taxed personal money to gamble with, because we would have to tax it again if we take money out of the company. But if you had to choose to bet at your own website or at the competition, I think most people would prefer their own.

sompitonov

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I think most of them do not place bets, because this can lead to the destruction of the business if you get too carried away with it. The owners know perfectly well how their business works, and if it is a profitable business, then why all this? They can also place bets and show how they play or test new games. I have been following one public gambler for a long time; he lost huge sums, but at some point he decided to open his own casino. Now he has moved to live in Portugal and is buying himself expensive cars. Despite this, he continues to place bets, because his business allows him to do this and he is very happy with his life. Still, there are very few public casino owners and we cannot know complete statistics on their bets, but it would be very interesting to take a look at this.

the rise

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I believe they still bet at their company, they already have enough experience in gambling, so why would they play at another casino? Their company, whatever they want to do, looks less than ethical, but they can do whatever they want, besides it will benefit their own casinos instead of promoting top users.

Don Pedro Dinero

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I have a friend who worked for years in a casino and I can assure you that the owners didn't even show up. Besides the fact that the workers were forbidden to gamble in the casino even on their days off, but I am not sure if there was any regulatory or legal limitation regarding the owner. Anyway, I can understand that at some point a casino owner might gamble in the casino to see how it is working or something like that, but gambling on a regular basis makes no sense. It's like playing solitaire by betting money against yourself.

Su-asa

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What is the need for them to get when they are actually the real owner of the company? However I can say no but if you really think that most of them still bet on their betting company, maybe you are so wrong.
If really they gamble, and at last they win, who will pay them? That's the question you are supposed to think first before asking if they gamble or not.
As you may know. They already have the money and there is no need for them to gamble, even if they are looking for where to have fun, they should try something else and not gamble on their own betting company, but only an agent can gamble because he or she is working for someone and not he's or her own company.
If a betting agent gambled and win, the real betting company that the agent is working for will pay the agent and that's how it is done.

Negotiation

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Quote from: Docnaster on December 23, 2023, 06:33:32 PM

Quote from: alastantiger on November 11, 2023, 10:37:18 AM

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I do not think that it is necessary for an owner of a gambling company who takes people's money to begin gamble again. They make the bigger money by being the owners, so why would they want to waste their monies again. Incase of the purpose of having fun, they can bet on their platforms. Mind, when they are betting, they aren't doing so as the owners but as a gambler because on the front screen, they cannot determine what happens behind untill they are there.
But if you say I should take a same opinion or my personal opinion, I would say that majority of casino owners do not even gamble anymore. They might be gambling before owning the casino but might eventually stop gambling when they start making monies from people.

That's right gambling company owners already have so much money they will never spend their time gambling. If there was no money he would never have owned a casino even though they earn a lot of money from the casino and play for fun it doesn't affect them so they can bet to pass the time. The casino owner's job is to oversee everything in the casino someone breaks the rules of the casino and solves the problem by verifying them properly. Casino owners are not accustomed to gambling.

KiaKia

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They knew what they have built, they will never try to gamble knowing that they can't beat the machine they have created, that's even if they want to gamble, people like them will prefer to choose games that they can play with fellow human being like them.

The question is how many of them have you seen that are gambling? Because I have not seen such people gambling before, even if they are fans of gambling they will rather do it in private, out of the public areas or inside their homes.

Also people like them will only gamble for fun, there is no need to risk money, such people will enjoy gambling more than those who really want to make money from gambling.

mindrust

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Quote from: Oshosondy on November 11, 2023, 10:39:35 AM

Do not forget that he is the owner. He can do whatever he likes. If the owner of a gambling site wants to gamble, he will prefer to use his own site that will benefit him to have fun than to gambling on the gambling site of others that will not benefit him.

I see this as off-topic though.

I don't think that's the case.

Quote

Yes. At Crown Casino in Melbourne, Australia all casino management and employees are licensed and prohibited from gambling in the casino. I worked for the regulator, and we were legally prohibited from gambling at the casino, being employed by the casino, unless we obtained permission, and prohibited from investing in the gaming industry.

https://www.quora.com/Are-there-are-any-rules-that-state-that-the-owner-of-a-casino-cannot-use-his-her-personal-money-to-gamble-and-make-money

The rules are probably a little bit different in other countries but more or less they are the same.

However, when there is a will there is a way... The law can't completely protect everybody from evil people. They may use their friends, relatives etc to make these bets and as long as they keep it low amounts, nobody will notice.

CODE200

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I'm sure they do and they probably but given that they're a businessmen, I don't think they have the time to think about betting or even analyzing the right teams to pick and players to bet upon. Not to mention that it's also a big eyebrow raise if they're betting right? Because some might think that he's got an insider information on who's going to win anf it's going to be a scandal even if that owner is innocent.

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Quote from: slapper on December 23, 2023, 08:38:16 AM

Owners must always outwit our rivals. Your point regarding casino owners gambling abroad is precise. The objective is reconnaissance, not fun. Understanding the competition, their strategy, and offerings is key. They are there, eyes wide open, noticing every element casinos lack. Gold intelligence; not imitating, but innovating on what they provide. They are clever strategists, constantly two moves ahead, not just players.

The implementation step follows. Once we've identified our setup gaps, we can act. They do more than add feature - they might change the game. Only the most aggressive survive in this ruthless environment. They are not only luring gamblers; They are establishing a loyal community that sees our casino as an experience and adventure. A never-ending battle of minds for perfection. They must continually be hungry and fierce, hunting for the next great item to keep us on top of the food chain.

By scouting other casinos, owners can strategize how their casinos can develop better than rival casinos. This often happens in the business world, where competition between business owners and others will be very tight because each business owner wants to develop their business even more. We also need to learn the truth and can only guess, especially since we don't know the motives of business owners who gamble at rival casinos.

Once the casino owner knows what needs to be prepared, he will immediately formulate a plan to carry out that plan. They don't need to wait long to know what to do because they are experienced in identifying problems and finding solutions. Maybe adding other features that can make gamblers play gambling longer in the casino can be done because the longer the gamblers are in the casino, the more likely the gamblers will spend more money gambling. Casino owners will look for other ideas to grow their casinos even bigger and it is only a matter of time until their casinos can increase their income.

Topic: Do Owners of betting companies bet? - page 4. (Read 1691 times)