Do Owners of betting companies bet? - page 6.

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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.

For sure they do, most of the casino owners are even active in their live streaming and you can see how active they are on the games so that being said it goes along to answer your question of if casino owners also gamble on their own casino.

Many times, some people believe that casino operators control the outcome of games, but in reality, we must know that casinos are systems that are being run and at some point, it becomes clear that even the casino owner will be treated as a customer and not an insider he has to work to win the games and besides he can also lose too.

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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.

Yes, but they'll be doing so in the full knowledge that it is only a bit of fun and they're going to be throwing away absolutely tiny amounts of their wealth. People tend not to become successful gambling company owners by falling for the same traps as their customers, but they certainly get mega rich off them. Successful business owners of any kind tend to be entrepreneurs that are aware that they need to keep control of inputs and outgoings if they want to make a profit. They'll apply the same logic to their own finances along with good discipline, not the kind of people to fritter away money on an addiction, which is why they are only ever doing it for a bit of entertainment among many activities in their lives.

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The casino owners are mostly bettors. They have virtually unlimited credit, can write off debts if necessary, know the strengths and weaknesses of the various games of their casino, and the croupier will do everything possible to win the owner (who wants to be fired?).

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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.

These owners do bet but I don't think they will do it on their platform. I found that illogical to milk their own company.

Instead, they will do the betting on other platforms. It doesn't matter if their money will go to their competitor if ever they lose since in the first place, they gambled for it and understand the risks. But as far as I know, these owners are so busy managing their respective gambling site/s that they have no time to bet just like a regular bettor. Maybe on big events, they are active but as a regular sports bettor, I doubt. Most of them might also have other businesses aside from gambling sites.

But I understand what you are trying to say about that policy. I think gambling platforms have different policy compare to other companies on a different industries where owners, employers or staff are not allowed to participate in a certain promotion and events.

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Absolutely they can use their own site to have fun as we all know that weather he win or loss then there's nothing to loss with him cause he is the owner of the site which is his loss Money will recover the income of his sites. So for sure if the owner want a hard time for fun then he can call dime friends and use his sites for gamble. And also even us if we are the owner of a gambling sites then for sure we will prefer to use ours than other gambling sites.

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Quote from: bitvalak on December 16, 2023, 01:52:00 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.

It's possible if he plays along, it's fine after all. He created a casino company because he understands how to play.
Besides, why is he playing, because his casino company is already making a profit? Possibly playing just for fun.
The analogy is the same as a director who takes part in a film, he does it because he is happy and passionate about it.
Unless you have lost a lot of money there, maybe you feel you have been cheated by the owner who is playing.

Owners playing is most likely for fun because they definitely get money wether they loose or they win after all, the whole profit made from the casino is most likely theirs so they really don't have anything to loose playing so they even get the most fun playing so it's very possible owners of casino play in their own casino.

Some casino owner do have the passion like you rightly stated, some time he may not be better or good enough at gambling but then understanding the business is enough for them to establish a casino where they make profits while others play the game, passion can be a very valid reason why a casino owner will still like to play regardless of him owning the casino after all there are no restrictions stopping him from playing games in his own casino. In clear terms regardless of how much you have lost it's definitely not because you were playing with the owner of the casino but because he understands the game better just maybe.

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Quote from: ethereumhunter on December 22, 2023, 05:14:07 AM

We will never know the truth because we don't know who owns that casino. Many possibilities can happen where the casino owner can place bets secretly or use a new account that only a few people know about. Yes, there is no conflict between their casino platform and the casino they own. Maybe they just want to experience gambling on their own casino platform to find out whether everything is running smoothly or if something needs fixing or improving.

And even though they gamble on other casino platforms, they may want to know about their competitors so they can come up with ideas to improve the development of their casino. Smart casino owners must consider the steps to develop their casinos to be even better.

I think we make speculative depend with owner passion although they have gambling platform will not waste all their time with betting own their site, to know about competitor platform seems they will try with other platform gambling and looking offer feature but I don't think with all owner want spent their time get test on other platform gambling site. They have teams and not working by the owner, test with other gambling platform did by their teams and the owner just guide only which one competitor gambling platform have good feature and make many gambler interest it.
Less with new casino launching right now and the owner of gambling platform not necessary to bet on new casino site because the casino competitor not make old casino platform drop with their user.

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Quote from: bounceback on December 22, 2023, 12:38:15 AM

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 don't sure yet the owner casino platform pace bet on their own platform, its the same in my country with the owner of cigarettes they are not smoker. I don't think any conflict interested between difference platform casino and they have the teams with advertising their casino platform without put the owner as position for advertising when playin casino.
Personally the owner of casino platform not interested for betting in his platform casino but looking for advertising way how to make their casino more popular than other casino platform side, they don't have time for enjoying bet moment but they want race with how to earn much profitable with affective advertising and get many new user or consistent old user huge amount deposit.

We will never know the truth because we don't know who owns that casino. Many possibilities can happen where the casino owner can place bets secretly or use a new account that only a few people know about. Yes, there is no conflict between their casino platform and the casino they own. Maybe they just want to experience gambling on their own casino platform to find out whether everything is running smoothly or if something needs fixing or improving.

And even though they gamble on other casino platforms, they may want to know about their competitors so they can come up with ideas to improve the development of their casino. Smart casino owners must consider the steps to develop their casinos to be even better.

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Quote from: bounceback on December 22, 2023, 12:38:15 AM

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 don't sure yet the owner casino platform pace bet on their own platform, its the same in my country with the owner of cigarettes they are not smoker. I don't think any conflict interested between difference platform casino and they have the teams with advertising their casino platform without put the owner as position for advertising when playin casino.
Personally the owner of casino platform not interested for betting in his platform casino but looking for advertising way how to make their casino more popular than other casino platform side, they don't have time for enjoying bet moment but they want race with how to earn much profitable with affective advertising and get many new user or consistent old user huge amount deposit.

First off, the comparison with cigarette owners not smoking? It's completely different. In the casino business, it's not about personal indulgence in betting; it's about cold, hard strategy. These owners are chess masters, not amateurs. Their focus? Focused on profits and dominance. They're there to win business, not gamble.

Advertising, now. Not just getting the word out - it's a contest of wits and resources. Our marketing methods are carefully designed to attract new and loyal consumers. Both art and science. These casino magnates? They don't relax—they're actively planning to make their gaming platform the best. It's a race to the top, where every ad, promotion, and feature is calculated. They're not just running a casino; they're seeking market supremacy.

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Quote from: bounceback on December 22, 2023, 12:38:15 AM

Personally the owner of casino platform not interested for betting in his platform casino but looking for advertising way how to make their casino more popular than other casino platform side, they don't have time for enjoying bet moment but they want race with how to earn much profitable with affective advertising and get many new user or consistent old user huge amount deposit.

This is true, if I own a casino I won't be betting on my casino too. Many individuals that own businesses don't use their services. If you focus more on enjoying your business you won't have time to concentrate on making the business a success. Also the owners of the casino can get tempted and they manipulate the games to be in their favour. It's better to avoid gambling on your casino if you want to gamble as the owner of casinos either bring online or physical.

Successful business owners don't have time to be enjoying their business, they're too busy going to meetings, signing partnership and sponsorship deals to make their businesses successful. There'll be alot of money coming from the casino that there won't be a need to look for more money from gambling instead they'll be thinking of expanding their casino business into other areas to get more exposure.

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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.

I don't sure yet the owner casino platform pace bet on their own platform, its the same in my country with the owner of cigarettes they are not smoker. I don't think any conflict interested between difference platform casino and they have the teams with advertising their casino platform without put the owner as position for advertising when playin casino.
Personally the owner of casino platform not interested for betting in his platform casino but looking for advertising way how to make their casino more popular than other casino platform side, they don't have time for enjoying bet moment but they want race with how to earn much profitable with affective advertising and get many new user or consistent old user huge amount deposit.

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Quote from: Fredomago on December 17, 2023, 11:06:45 AM

Quote from: bitvalak on December 16, 2023, 01:52:00 PM

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

~snip~

It's possible if he plays along, it's fine after all. He created a casino company because he understands how to play.
Besides, why is he playing, because his casino company is already making a profit? Possibly playing just for fun.
The analogy is the same as a director who takes part in a film, he does it because he is happy and passionate about it.
Unless you have lost a lot of money there, maybe you feel you have been cheated by the owner who is playing.

That sentiment can be true and we really don't know what will be the truth behind as the owner have their rigth to play if they wanted to test the system that they bought or they ae paying for, and aside from testing their own platform they also have that side where as human they can also try to play to be entertain.

You are right, unless you already lost a lot of money so thinking about bias outcome or manipulated outcome can show up when you know that the owner is playing using their own casino.

But when we really observe in detail we will find the answer that there is no reason that can be known for certain as to whether casino owner plays or bets in his own casino.
Let think carefully, the casino owner must have lot of experience and knowledge in the gambling industry, including how every existing casino works or develops, even his own.
If it for fun, of course he has lot of experience and also business partners so he would prefer to play directly at the table with his colleagues instead of playing on the site he owns.
If the reason is to test their own platform then that is not necessary because the progress can be seen from how enthusiastic each customer is, even each casino has system for handling or running the casino well and the casino owner can find out from there.
There is an uncertainty that is really difficult to predict so some people might have bad thoughts when they find out that casino owner is playing or betting in his own casino.
Moreover, there is lot of thinking like this among gamblers and many people think excessively as you have said.

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Quote from: noormcs5 on December 15, 2023, 11:54:06 PM

Quote from: wxa7115 on December 15, 2023, 11:46:17 PM

I can see your point, however when it comes to lotteries and other similar gambling games it is stated very clearly that anyone which is part of that business or their family cannot participate on it, and if they do they will not be paid the prize they could have received.

This is done as a way to avoid those employees manipulating the results in their favour, and since the owner of a casino is in a position similar to that, it should be better for them to not do this, as a way to avoid the temptation of manipulating the results on their favor as well.

How are you sure that the family of the casino do not participate in the lottery? Sometimes i think that even if they do not participate the lottery is always given to some near and dear ones, it is hardly a fair lottery. This becomes even more true when we consider the manual lottery, where there is no check and balance.

Also sometimes these lotteries scam us by collecting the minimal amount of money to participate in the lottery but when it comes to the time of results, they give it to some dummy numbers (people) and since we do not have visibility on how they calculated the winner's among the participants, we can only settle and tell ourself that we were unlucky on another lottery.

Obviously I am not going to take the time to verify this personally, however every country has some sort of institution which was created with the purpose of verifying that any kind of casino game or related contests are fair and follow proper procedure.

So verifying that those which have won big prizes on the lottery are not family members of the owners or the employees should be very easy to do, since one of the most basic functions of any government is to keep track of their population through birth certificates, which state very clearly the filial relationship between their citizens, so a quick database check should suffice.

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Quote from: bitvalak on December 16, 2023, 01:52:00 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.

It's possible if he plays along, it's fine after all. He created a casino company because he understands how to play.
Besides, why is he playing, because his casino company is already making a profit? Possibly playing just for fun.
The analogy is the same as a director who takes part in a film, he does it because he is happy and passionate about it.
Unless you have lost a lot of money there, maybe you feel you have been cheated by the owner who is playing.

That sentiment can be true and we really don't know what will be the truth behind as the owner have their rigth to play if they wanted to test the system that they bought or they ae paying for, and aside from testing their own platform they also have that side where as human they can also try to play to be entertain.

You are right, unless you already lost a lot of money so thinking about bias outcome or manipulated outcome can show up when you know that the owner is playing using their own casino.

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Quote from: noormcs5 on December 15, 2023, 11:54:06 PM

How are you sure that the family of the casino do not participate in the lottery? Sometimes i think that even if they do not participate the lottery is always given to some near and dear ones, it is hardly a fair lottery. This becomes even more true when we consider the manual lottery, where there is no check and balance.

Also sometimes these lotteries scam us by collecting the minimal amount of money to participate in the lottery but when it comes to the time of results, they give it to some dummy numbers (people) and since we do not have visibility on how they calculated the winner's among the participants, we can only settle and tell ourself that we were unlucky on another lottery.

The family members of the owner may participate in the gambling site,but the owner to the gambling site will be merely not possible one.May be at the beginning to check the game performance and developer work,the owner may play some game in the gambling site.But the owner never play to make some money from the gambling site.If the dear one of the owner take part in the lottery some gambling site may operate in the partial way.I hadn’t say all the gambling site was partial to their participant,but still some gambling site was partial in nature.The gambling owner should be neutral even if his own brother take part in the lottery for long lasting in the gambling market.

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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.

It's possible if he plays along, it's fine after all. He created a casino company because he understands how to play.
Besides, why is he playing, because his casino company is already making a profit? Possibly playing just for fun.
The analogy is the same as a director who takes part in a film, he does it because he is happy and passionate about it.
Unless you have lost a lot of money there, maybe you feel you have been cheated by the owner who is playing.

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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.

I think in my own opinion that it is generally unethical for the owners of betting platforms to directly use their platforms to bet because there would be likely a conflict of interest which can also raise other people's eyebrows to the questions of Fairplay or the integrity of the platform.

Every gamblers interest is to win a game and the owner of the betting platform is not an exemption, so if that is the case, he may like to do everything possible to make a win which can make him to in a way manipulate the system to his own favour thereby compromising the system processes and results.

I heard and also aware that plenty of standard and top betting companies have their codes of conduct and internal policies that vehemently discourage and disallow the owners of the platforms to participate in their own respective betting platforms. And I think that's the best. I don't think there's any international or all-round policy that stipulate that out there.

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Quote from: wxa7115 on December 15, 2023, 11:46:17 PM

Quote from: redsun114 on December 11, 2023, 05:24:03 AM

Why wrong? Isn't it a good thing actually? Because, it prevents them to become addicted and lose everything they have, ( if not some, or most of their profits ). But, I think all casino owners do have an experience in playing gambling. It is an advantage and this is what they like or, this is where their passion is, resulting for them to came up with such business.

If in case their urge kicks in, it's best if they can only play within their own platform. This is the same as playing for fun because it was still their own money after all, is the one that they will be getting, in case they are winning. And if they lose, there is no harm, because the money will still go on their own wallet.

I can see your point, however when it comes to lotteries and other similar gambling games it is stated very clearly that anyone which is part of that business or their family cannot participate on it, and if they do they will not be paid the prize they could have received.

This is done as a way to avoid those employees to manipulate the results on their favor, and since the owner of a casino is in a position similar to that, it should be better for them to not do this, as a way to avoid the temptation of manipulating the results on their favor as well.

Thats some logic there but my only confusion is how is it that the person that's win can be proven otherwise if he or she decides to fake a false identity after the whole manipulation has been done. Am not saying that these things happen but just pointing out that it can be easily manipulated even with that rule that is placed there.

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Quote from: Hypnosis00 on December 16, 2023, 12:30:22 AM

Quote from: wxa7115 on December 15, 2023, 11:46:17 PM

Quote from: redsun114 on December 11, 2023, 05:24:03 AM

Why wrong? Isn't it a good thing actually? Because, it prevents them to become addicted and lose everything they have, ( if not some, or most of their profits ). But, I think all casino owners do have an experience in playing gambling. It is an advantage and this is what they like or, this is where their passion is, resulting for them to came up with such business.

If in case their urge kicks in, it's best if they can only play within their own platform. This is the same as playing for fun because it was still their own money after all, is the one that they will be getting, in case they are winning. And if they lose, there is no harm, because the money will still go on their own wallet.

I can see your point, however when it comes to lotteries and other similar gambling games it is stated very clearly that anyone which is part of that business or their family cannot participate on it, and if they do they will not be paid the prize they could have received.

This is done as a way to avoid those employees to manipulate the results on their favor, and since the owner of a casino is in a position similar to that, it should be better for them to not do this, as a way to avoid the temptation of manipulating the results on their favor as well.

Well, the rules have been written already just people think that there is no manipulation of winnings. But who knows, in fact, the jackpot winner can't be revealed in front until he/she shown up and shows the winning ticket, and no one will identify the identity of the winner if he/she is relative to any members or workers of the casino. With the huge number of gamblers, I don't someone has been tasked to do that, it is just a waste of time. Of course, no one will be able to accept that they are relatives, even if you have the same family name.

With so many names that will reflect I don't know if they will waste their time to investigate but if there's rumors maybe they will, we can't conclude whatever is happening around, just to be plain and simple, we are discussing about money and everything is possible if there's money involve so we can't say that this is not happening.

There's a big chance that it's really happening either the owner itself or part of his relatives of people who he knew that may win the prize jackpot without any trace.

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Quote from: noormcs5 on December 15, 2023, 11:54:06 PM

How are you sure that the family of the casino do not participate in the lottery? Sometimes i think that even if they do not participate the lottery is always given to some near and dear ones, it is hardly a fair lottery. This becomes even more true when we consider the manual lottery, where there is no check and balance.

There are laws against doing things as this and if they're caught after still doing it they'll be punished. Footballers or very close family members aren't allowed to gamble in games that involves his team as they can make their family members to win therefore casino owners or close relatives who won big money from lottery or casino games will be investigated and if found guilty of cheating will be punished. If you're a casino owner and want to game, you need to make sure the games is fair and you're not cheating.

You can also go to other casino and gamble instead of using your own so you don't spoil the reputation of your casino too as when the news if your big wins spread, many individuals will think you cheated even though you didn't therefore to avoid all those rumours, it's better for use a casino that you're not linked to, to gamble and enjoy your games. Your family members should also use other casion that isn't yours to avoid same things happening if they were to win.

Topic: Do Owners of betting companies bet? - page 6. (Read 1691 times)