Casino Case of Richmond’s Excess Revenue
When 2014 ends, it is estimated that City of Richmond will be afloat on cash amounting to $147 million. This money, which started accruing from 2004, is sourced from the 10 per cent taking from net revenues of River Rock Casino and Resort. The cut is provincially mandated and is a lodestone of public cash. In 2014 alone, it is expected that the city will vacuum up a staggering $20 million.
Astoundingly large amounts and utilization
The City of Richmond will be lying atop reserves of $24 million and not-allocated revenue from gaming. This gives rise to the query of what the city intends to do with such a huge amount of money and who is the key person to make the decision to spend it?
The money has been utilized in the past by the city to fund its big and shiny capital projects and also contribute to its reserves. The list of big projects includes two fire halls, future Minoru pool and Richmond Olympic Oval. A seniors’ center was also built. By the end of 2014, the oval will be responsible for about 33 percent of total gaming expenditures. This has happened since 2004, when the River Rock first opened its doors. Richmond has spent about $39.1 million or 26 percent on a number of capital projects. These include Cambie and Steveston fire halls.
The flipside is that the casino is a magnet for crime. In fact, both local and national media has reported about $24 million value of dubious transactions took place at River Rock during the March to June period in 2014. The transactions list included big withdrawals and deposits, most of which consisted of $20 bills, a standard mode of transaction among organized crime syndicates and drug dealers.
The city council has earmarked about $5 million every year for the subsequent 10 years for the funding of the seniors center complex and new Minoru pool. The list of other yearly expenditures includes $600,000 for more RCMP officers from the $1.4 million kitty collected every year.
Netherlands vs. Kazakhstan – Online Gambling Odds
Oranje fans could be forgiven for being a little pessimistic about Euro 2016, which might have an impact on recent and future betting results. Their team should qualify for the tournament without any problems, but do they have a realistic chance of winning the competition? No. Their star players are the wrong side of 30, and were already beginning to show their age near the end of the 2014 World Cup.
Wesley Sneijder, Robin van Persie and Arjen Robben are the players that make this Dutch side great. Out of the three, only Robben has a realistic chance of being a top class player by the time Euro 2016 rolls around. Sneijder is already past his best, while van Persie has been showing signs of decline with Manchester United. And as good as Robben is, he cannot be expected to carry this team by himself.
Despite these issues, Dutch coach Guus Hiddink should get a comfortable home win over Kazakhstan. The Kazakhs are unlikely to pose a serious threat, which is reflected in the betting odds. They are priced at 33/1 to to win, and the draw is priced at 11/1. In contrast, the Netherlands are backed at 1/14 to get the win. Some bookies have them as close as 1/20 favorites in this game.
The “correct score” market for this game should be interesting. Odds of 81/16 are available on Netherlands getting a 3-0 win, while a 4-0 Dutch victory is priced at 155/29. Another plausible result, a 4-1 Dutch win, has a 155/18 price.
Predicting the correct score is a better way to make money from this game, with odds on the Dutch too short to be appealing. If you expect a complete rout from Netherlands, you may want to bet on “over 5.5 goals”, which is priced at 59/29.
For more information on these odds, click here.
Are Australian Casinos In Unsafe Hands?
High rollers and big stakes players are entertaining to witness and clearly well-sought by casino operators the world over. Looking to make the most out of the Chinese VIP gamblers, NSW government has allowed licences to two new casino properties in Sydney and Brisbane.
High rollers and big stakes
These world class casinos look to lure the attention and patronage of casino whales, or incredibly high stakes players who thrill in betting $15,000 and upwards per wager and easily luck out on thousands of dollars on a single bet.
The two new world class casinos set to open in Australia are going to be high end luxury destinations set in prime location in Barangaroo overlooking Sydney harbour. Designed with the intention of luring executive Chinese and International business men, the six star luxury hotel and casino complex is set to take Australian casino industry buy storm.
However, the black cloud to this silver lining is the vicious circle of junket operators who associate with Chinese VIP players, and the affiliation of junket operators with organised crime rings, violence and international money laundering.
A recent investigation conducted by Four Corners on the workings of junket operators and their relations with organised crime in Macau has led to the unveiling of widespread criminal activity.
Popular gambling destination off the coast of China, Macau has grown to be Asia’s premium gaming headquarters that pulls in about 70 percent revenue from VIP Chinese high rollers. But since gambling is illegal in China, there is a limit to the amount of funds a Chinese VIP can carry out of the country.
This is where junket operators, who organise gambling events and the transport and care of VIP players, go to the extent of lending large sums of money to their VIP patrons as well. These debts are then collected by junket operators via unnecessarily violent means.
Australia, however, is a lot better regulated and financial transactions made hold integrity. According to Casino regulations dealings of more than $10,000 have to be reported to anti-money laundering bureau Austrac.
Gambling: Green Bay Packers vs. Seattle Seahawks Preview
The NFL begins in earnest on Friday, with the Green Bay Packers taking on the Seattle Seahawks. These are two storied franchises in the NFL, with the Seahawks being more successful in the recent past. They are the defending Super Bowl champions, and will want to repeat the feat in 2014/2015. However, the Packers will not be a pushover in the first game, especially with Aaron Rodgers back to full fitness.
The odds for this game suggest that most experts expect the Seahawks to pick up where they left off in February. Their demolition of the Denver Broncos in the Super Bowl was a thing of beauty, and the Packers defense is in for a tough night. Pundits expect the Seahawks to win, and the 2/5 odds in their favor reflect this. A smart bet on this game would be the Seahawks to win by 11 to 20 points (7/2). When they win, they win big.
Meanwhile, the odds for the Green Bay Packers are at 9/4. They are the away team in this matchup, which makes their task even more difficult. However, a Super Bowl hangover is not uncommon in the NFL. Often times the team that won everything last season has a slow start the following autumn. Players take their eye off the ball, having spent so long celebrating last year’s success. If that happens to the Seahawks, the Packers are waiting to pounce.
Marshawn Lynch and Eddie Lacy are favorites to score the first touchdown in this game, with Lynch having by far the cloesst odds. He is at 13/2 to open the scoring, with Lynch at 8/1. Randall Cobb may be a good bet in this category. He often scores in big match ups. His odds of 12/1 will be attractive to gamblers.
There are a few different points spreads that can be bet on. If you want to bet on a -6 Seattle or +6 Green Bay points spread, the odds are 21/20 and 20/21 respectively. Points spread bets can be complicated, especially for betters who are not experienced NFL watchers.
For more details regarding these odds, click here.
Gamblers in Sydney Pay Off Debts Through Drug Trafficking
It’s no secret that loan sharks target those that are the most desperate for cash. Many of those customers are able to be found at casinos, where down and out gambling addicts are in need of large sums of cash to feed their habit. While many sharks simply demand ludicrous sums of cash as reimbursement for their high interest loans, some are getting more creative and asking their debtors to repay them with labor as drug mules.
The most recent activity of this sort in Sydney was uncovered earlier this year when a young Chinese man was arrested on suspicions of money laundering. The mid-20s man had not, in fact been laundering money, but instead had been sent as a foot soldier to recruit debtors in casinos for a drug ring. The man would lure those desperate for cash into taking out loans that would quickly increase to tens of thousands of dollars in interest, and offer them a way out of their debts. He offered to let the clients – most of whom were women – pay off their debts by transporting suitcases which contained ingredients needed to make ice.
So far six women have been found guilty of mauling for this particular drug ring. The young man in question has been deported and had his visa revoked. This problem, however, is not a particularly unique or new one. In 2011 similar issues were brought to the media’s attention when studies of parole showed that drug lords were using gamblers to transport heroine and marijuana. The investigations from these proceedings led police through a series of rented houses that had been the headquarters for major drug rings in Sydney.
With issues such as debtors being lured into trafficking drugs, there are always a number of questions which are hotly debated. Some people question whether or not the debtors should be charged as heavily with the drug activity they wanted no part of in the first place as those they work for. Others question who is really to blame here – the debtors, the sharks, or the casinos and gambling venues that create the supply of addicts/victims? As with any social issue, it’s one which officials in Sydney and around the world are working to find a solution to, but it’s also one that seems to be continuing to grow.
Hollywood Gossip- News Related
How did celebrity Ray Romano help his son Matt celebrate his 21st birthday? The popular actor and comedian brought his son to Las Vegas and signed him up for the World Series of Poker’s Main Event. This year, the winner of the $10,000 buy-in no-limit Texas Hold ‘Em tournament is guaranteed to win at least $10 million. This Main Event pay-off is the highest since 2006 when Jamie Gold took home $12 million for beating a field of 8,773 players. As of Sunday, July 6, more than 2,100 players had entered the 2014 marathon poker game, and event organizers say they are expecting this year’s field to top last year’s field of 6,352 players.
Romano was all smiles before dealers started shuffling, joking to reporters that if he and his son busted out of the Main Event, he and Matt would be taking a jaunt to the Chicken Ranch, a famous brothel in nearby Pahrump. Once playing was underway, though, the comedian focused on his game. He finished the night with 15,100 chips.
Ray Romano wasn’t the only celebrity drawn to Las Vegas by the Main Event. Comedian Kevin Pollak, who’d swung a sponsorship deal from IT provider TxMQ, played at the table right alongside of Romano’s and finished up the night with 36,550 chips.
The Main Event’s appeal has always been that it gives amateur poker players an opportunity to play side by side with seasoned pros. Since the game is played without limits, confident players are free to risk their tournament chances by wagering all their chips in a single bet. Only one out of 10 entrants will actually win money in the tournament, but for many players, that’s irrelevant: The Main Event is a once in a lifetime experience.
There was little of today’s publicity and fanfare when the World Series of Poker first began back in 1970. Once ESPN began broadcasting the Main Event as well as the rest of the World Series, the tournament surged in popularity. ESPN’s coverage has always been a huge hit with poker players, but Nielsen ratings trends indicate that it’s becoming increasingly popular with non-poker players as well. In 2011, the World Series of Poker attracted 646,000 viewers per episode. This number doesn’t take into account the hundreds of thousands of viewers who watched episodes online through ESPN’s website.
Online Gambling – Formula One 2014 WDC Odds
When the 2014 Formula One World Championship was about to begin, the odds for the World Driver’s Championship were fairly close. A group of five or six drivers were fancied by bookmakers to mount a title challenge. Sebastian Vettel, having one the previous four seasons, was the favorite at 7/4. Britain’s Lewis Hamilton was set at 7/2, Fernando Alonso at 6/1, Nico Rosberg at 9/1 and Jenson Button at 10/1. The likes of Kimi Raikkonen and Kevin Magnussen also received some backing.
Fast forward a few months and no one thinks that the champion will come from outside of Mercedes. Lewis Hamilton and Nico Rosberg are locked in a two way battle for the title. Since Mercedes have led every lap of every race this season, it is natural that other drivers are way out in the bookmaker’s minds. Sebastian Vettel is now at 80/1, with current third placed man Fernando Alonso at 150/1. Lewis Hamilton is seen as the clear favorite, with odds of 5/11 or 1/2 available on him.
Rosberg is the Best Bet –
While Hamilton is the best equipped driver to win the title this season, his teammate Nico Rosberg is the best bet for online gamblers. For one, Rosberg currently leads the World Championship. He is a very quick, very consistent driver. While he may just lose out on Hamilton on raw pace, his ability to get the car to the finish line and limit his mistakes stands him in great stead.
Hamilton already has one retirement this season, and another could be catastrophic for his title chances. He may be the favorite for most experts and fans, but 5/11 are very unattractive odds. Rosberg, in contrast, is priced at 9/4 or 10/4. Considering he has held his own against Hamilton so far this season, those odds are too good to pass up. Rosberg knows he may never have such a good chance to win the title, and that should be all the motivation he needs to beat his teammate.
For more information on current Formula One online gambling odds, click here.
UK Gambling Commission Targets Illegal Poker Clubs
Illegal poker clubs throughout the UK are being targeted by the United Kingdom’s Gambling Commission. The purpose of this operation is to cut down on the number of illegal places where poker games take place on a daily basis. The Gambling Act of 2005 ensures that members clubs are allowed to have poker games, but there are strict restrictions on the criteria, prize money, stakes, entry fees, and amount of players.
Three clubs have already been stopped from running poker games, because they failed to obey the current laws. Palms of Enfield, Fifth Street Card Club and Royal Surrey Social Club have been closed down. Most of these places are shut down because the extent of their games, and the money being wagered, far exceeds the legal limits for such establishments.
Ten clubs have been closed down since July 2012, when the crackdown began, including the famous International Private Members Clubs. Each of these organizations is allowed to apply for a poker license, and become a legitimate poker club. However, they seek to hold games and play without restrictions despite not obtaining the license, which is frowned on by the government.
Nick Tofiluk, Director of these operations, said that the closures since 2012 show that authorities are determined to crack down on illegal gambling areas. It does not matter how expensive, established or famous the club may be.
The key to this venture is enlisting the help of local authorities. By keeping their eyes and ears open to any illegal activity from members clubs, they can ensure that the government’s gambling commission is well informed.
Gambling licenses are expensive, which is why most clubs try to avoid them. Obtaining those licenses would involve charging their members higher monthly fees, which would lead to terminations and further loss of business. Too many pubs, clubs, restaurants and internet cafes allow high stakes poker to be played on their premises, and it is up to the government to crack down on such establishments.
For more information about the UK’s Gambling Commission, click here.
GameAccounts and Konami Partner Up
The London-based GameAccount Network, a leading developer in online gaming content and B2B gaming software, recently announced that it would form a strategic partnership with Konami Gaming, Inc. as it was originally planned to be in November 2013 according to its Admission Document.
During this year, the company will bring Konami games to its platform while offering the GameSTACK Internet Gaming System to casino operators on land that will use the Konami SYNKROS enterprise system for managing its games.
Konami casion slot games deployed inside of the Internet Gaming System locally can join those that are also available from Reel Time Gaming, Incredible Technologies, Multimedia Games, GamoMAT, Scientific Games and Ainsworth to what will become one of the biggest selections of Class III gaming content available using Adobe Flash and applications on mobile clients coupled with the proprietary casino table games the company offers.
GameAccount Network has recently also deployed its GameSTACK Internet Gaming System in the newly regulated online gambling market in New Jersey. GameSTACK is designed to handle all of the aspects of user registration, user verification and online banking while also providing a hude range of casino table games, diverse casino slot games and integrated poker tables, all of which can be played for either real money online or with virtual Simulated Gaming™ through either the desktop computers or a mobile device.
The added compatibility with existing regimes in New Jersey, the United Kingdom, Spain and Italy have all allowed the GameSTACK Internet Gaming System a top-notch certified and regulated solution for casino operators based on land who are looking to take their games online.
According to the executive vice president and chief operating officer of Konami, Steve Sutherland, the GameAccount Network is a great provider of iGaming options, and it was critical for Konami to seek out a partner that could successfully bring its games online in a way that will also help casino customers grow their businesses while increasing their revenues. In addition, the company sought out GameAccount because of the company’s aligning views on mobile gaming strategy and how the Internet can be a profitable place to operate.
Crime and Punishment
CG Technology is no stranger to the limelight when it comes to headlines in gaming news. However, the attention is not always flattering. Recent reports to come online place CG Technologies in the record books for paying the largest fine in the history of Nevada gaming. A subsidiary of the Wall Street Firm Cantor Fitzgerald LP, CG Technologies recently faced an 18-count complaint related to illegal gambling activities that were carried out by some of the firm’s top executives. As a result of the allegations, this Las Vegas bookmaker now has to pay fines that reach a record $5.5 million. This settlement will still be given a final consideration during a scheduled hearing before a five-member commission.
At this point in time, both the Cantor Fitzgerald Chairman and CG Technologies have signed off on this settlement. However, there is still a chance that the final figure could vary. Micheal Colbert is the executive accused of participating in illegal, sports gaming activities that included recruiting bettors and handling monetary transactions. Colbert pleaded guilty to only one felony charge in a New York federal court. The sentence for the crime is still pending, however. The settlement itself does not show that CG Technologies is admitting or denying the company’s involvement in the first four allegations contained in the original complaints. Although, they have put into wiring that the first four allegations, which are the most serious, can be proven by “a preponderance of evidence” that was accumulated against Cantor Gaming, the former title under which the company operated.
The Gaming Control Board has approved of the company’s actions. The fines are meant to restore the public’s faith in this sizable gaming organization in addition to providing “a severe punishment” that stands as an example to anyone considering fraud of this kind. CG Technologies feels that the situation can now be put firmly behind them with the pending of the final distribution of punishment to the guilty parties involved in the illegal gaming activities.