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The next Detroit: The catastrophic collapse of Atlantic City
With the closure of almost half of Atlantic City's casinos, Newark set to vote on gambling and casinos or racinos in almost every state, it seems as if the reasons for the very existence of Atlantic City are in serious jeopardy. Israel Joffe Atlantic City, once a major vacation spot during the roaring 20s and 1930s, as seen on HBOs Boardwalk Empire, collapsed when cheap air fare became the norm and people had no reason to head to the many beach town resorts on the East Coast. Within a few decades, the city, known for being an ‘oasis of sin’ during the prohibition era, fell into serious decline and dilapidation. New Jersey officials felt the only way to bring Atlantic City back from the brink of disaster would be to legalize gambling. Atlantic City’s first casino, Resorts, first opened its doors in 1978. People stood shoulder to shoulder, packed into the hotel as gambling officially made its way to the East Coast. Folks in the East Coast didn't have to make a special trip all the way to Vegas in order to enjoy some craps, slots, roulette and more. As time wore on, Atlantic City became the premier gambling spots in the country. While detractors felt that the area still remained poor and dilapidated, officials were quick to point out that the casinos didn't bring the mass gentrification to Atlantic City as much as they hoped but the billions of dollars in revenue and thousands of jobs for the surrounding communities was well worth it. Atlantic City developed a reputation as more of a short-stay ‘day-cation’ type of place, yet managed to stand firm against the 'adult playground' and 'entertainment capital of the world' Las Vegas. Through-out the 1980s, Atlantic City would become an integral part of American pop culture as a place for east coast residents to gamble, watch boxing, wrestling, concerts and other sporting events. However in the late 1980s, a landmark ruling considered Native-American reservations to be sovereign entities not bound by state law. It was the first potential threat to the iron grip Atlantic City and Vegas had on the gambling and entertainment industry. Huge 'mega casinos' were built on reservations that rivaled Atlantic City and Vegas. In turn, Vegas built even more impressive casinos. Atlantic City, in an attempt to make the city more appealing to the ‘big whale’ millionaire and billionaire gamblers, and in effort to move away from its ‘seedy’ reputation, built the luxurious Borgata casino in 2003. Harrah’s created a billion dollar extension and other casinos in the area went through serious renovations and re-branded themselves. It seemed as if the bite that the Native American casinos took out of AC and Vegas’ profits was negligible and that the dominance of those two cities in the world of gambling would remain unchallenged. Then Macau, formally a colony of Portugal, was handed back to the Chinese in 1999. The gambling industry there had been operated under a government-issued monopoly license by Stanley Ho's Sociedade de Turismo e Diversões de Macau. The monopoly was ended in 2002 and several casino owners from Las Vegas attempted to enter the market. Under the one country, two systems policy, the territory remained virtually unchanged aside from mega casinos popping up everywhere. All the rich ‘whales’ from the far east had no reason anymore to go to the United States to spend their money. Then came the biggest threat. As revenue from dog and horse racing tracks around the United States dried up, government officials needed a way to bring back jobs and revitalize the surrounding communities. Slot machines in race tracks started in Iowa in 1994 but took off in 2004 when Pennsylvania introduced ‘Racinos’ in an effort to reduce property taxes for the state and to help depressed areas bounce back. As of 2013, racinos were legal in ten states: Delaware, Louisiana, Maine, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, and West Virginia with more expected in 2015. Tracks like Delaware Park and West Virginia's Mountaineer Park, once considered places where local degenerates bet on broken-down nags in claiming races, are now among the wealthiest tracks around, with the best races. The famous Aqueduct race track in Queens, NY, once facing an uncertain future, now possesses the most profitable casino in the United States. From June 2012 to June 2013, Aqueduct matched a quarter of Atlantic City's total gaming revenue from its dozen casinos: $729.2 million compared with A.C.'s $2.9 billion. It has taken an estimated 15 percent hit on New Jersey casino revenue and climbing. And it isn't just Aqueduct that's taking business away from them. Atlantic City's closest major city, Philadelphia, only 35-40 minutes away, and one of the largest cities in America, now has a casino that has contributed heavily to the decline in gamers visiting the area. New Jersey is the third state in the U.S. to have authorized internet gambling. However, these online casinos are owned and controlled by Atlantic City casinos in an effort to boost profits in the face of fierce competition. California, Hawaii, Illinois, Iowa, Massachusetts, Mississippi, Pennsylvania and Texas are hoping to join Delaware, Nevada, New Jersey and the U.S. Virgin Islands in offering online gambling to their residents. With this in mind, it seems the very niche that Atlantic City once offered as a gambling and entertainment hub for east coast residents is heading toward the dustbin of history. Time will tell if this city will end up like Detroit. However, the fact that they are losing their biggest industry to major competition, much like Detroit did, with depressed housing, casinos bankrupting/closing and businesses fleeing , it all makes Atlantic City’s fate seem eerily similar.
Not Financial Advice (NFA) Warning: Wall of Text. If you hate reading just skim through the bolded/italicized Ever since I publicized my findings on DKNG, the stock has underperformed & probably has fucked a lot of people here, especially given the overly bullish stance back in June. Unless you took my advice & got into Puts then, congrats, welcome to tendie town. For the ADHD retards, here’s what the next wall of text is going to summarize: I believe at the current price of ~$30, the stock is oversold. A tech-focused, high-growth Company that has made sports betting easy to understand with an aesthetically pleasing interface similar to how Robinhood has neatly laid out stock market gimmicks so even high-schoolers can make sense of it I believe, is underpriced at these levels. Let’s get into some details as to why the stock has underperformed: First off, the news slate revolving sports with the rumored delay/cancellation of the MLB season & the NFL watching from the sidelines is in my view, just a part of why the stock has underperformed. We’ll revisit this later in this post, but I want to focus on the drivers of the stock’s recent underperformance, & why these factors are now in the rearview mirror. Part I – The Past Has Passed – SPAC-related Equity Dilution History lesson first: DKNG went public via a SPAC merger, which has exploded in popularity recently. Anyone serious about analyzing stocks going forward needs to do their homework on this, Google is your friend. A feature of most SPAC merger to public listings that creates a headwind to near-term share prices are embedded equity dilution events, usually in the form of earn-outs (stock bonuses to execs, the SPAC sponsor) & conversion of Warrants. On 5/24, the earn-outs were triggered, adding 6m shares to the share count. On 6/26, 16.3m warrants converted to DKNG, netting them ~$188m of cash. Stepping back a little, in addition to the above, on 6/18 DKNG launched a follow-on equity offering of 16M shares @ $40/Share [1], receiving $621M in proceeds. The last part is tricky to understand from a dilution perspective. To simplify, historically it’s almost a coin toss whether a Company’s shares outperform on the onset of an equity offering. While issuing shares does dilute the existing shareholder base, it theoretically shouldn’t, if the proceeds from the offering are earmarked for investments/projects that yield outsized returns. This is the reality for the long term, theory for the short-term. For the short-term, the ‘reality’ isn’t that the proceeds will be used for investments/projects that yield outsized returns, it is more about how convincing management is to investors that the investments they intend to pursue with the proceeds will outweigh the dilutive effects of issuing incremental shares. That’s a mouthful, but hopefully you get what I’m trying to convey. All of this stuff put together – the Company has increased its share count by ~39M, but now has a whopping ~$1.4Bn of cash [2]. More on this in the next section. Part II – MLB News Should Not Fucking Matter & DKNG Is Positioned As the Leading Online/Mobile Sports Platform DKNG should not be so tied to MLB news or any of this shit as the ongoing success of the NBA/NHL season + Soccer in Europe has effectively created a blueprint on how to regulate player behavior so that they maintain professionalism amidst the pandemic. I’m going out on a whim here, but I truly think the MLB threatening a cancellation of the season is pure posturing to get these fuckers to behave appropriately. Maybe a ‘bubble’ is what it takes to get these players to focus on their jobs instead of going out & contracting COVID, but I argue that isn’t necessarily required given Soccer in Europe. So there’s already a proven path here without the need for a bubble in Soccer, so MLB/NFL should be fine, and execs need to study how they got it done in Europe. Okay, back to some facts. Anecdotally, I’ve kept in touch with a handful of sports bookies from California to New York & even internationally about what they’re seeing – all of them say that since the NBA season started on 7/30 & since Soccer (especially the Premier League) resumed in June, along with other leagues like La Liga & Serie A, they’ve seen massive increases in betting. These numbers are also showing up in the official data [3]:
Average % increase in sports betting handle from April 2020 to June 2020 (handle is the total $ wagered in sports bets) from the states that reported up to June 2020 (NJ, PA, MS, RI, WV, IA, IN, NH) of +258%!
Note: NV is left out due to the site I sourced showing a weirdly negative number – so I dug into the official filings & show specifically, Sports Mobile betting growth from June since April has growing by at least +73% [4]
REMEMBER: This is for June only! No NBA, No NHL, No MLB, just Soccer, Golf, NASCAR & UFC. The data clearly shows that there was a ton of pent-up sports betting demand, which leads one Wall St. analyst to think that betting on the NBA/NHL could ABSORB the MLB’s sports betting handle (handle = total $ size of sports bet) [5]. Remember, the MLB season is still ongoing, with games being played. The entire focus is on the Miami Marlins & St. Louis Cardinals. Fucking retards. Additionally, I want to remind everyone that DraftKings.com is the #1 Fantasy sports website in the U.S. [6]. Also, since April 2020 site visitations are up +86% [7] & Google Search Trends for “Draft Kings” is up ~3xcompared to PRE-COVID levels [8]. What does this mean? They are piquing more people’s curiosity than prior to COVID/ongoing slate of sports. This is important because remember that ~$1.4Bn chest full of cash I mentioned DKNG had assembled earlier? Well, that money is being put to work & results are already coming in, which is exactly what DKNG intended to do with it. Part III – Legalization of Sports Betting in the U.S. I could write a fucking bible on this topic alone, but for now we’ll stick to some basics. Due to COVID, it’s easy to understand that each State’s financial situation is clearly in shit. Because of this, you better believe that these guys are going to start taking a hard look at how they can extract additional tax revenues, & what’s one of the easiest ways to do this? Legalization & taxation of gambling. The big players: CA, TX, FL & NY. First, CA pushing its legislation out to 2023 was fucked up, but here’s a twist I want to add to this: Anything that has to do with gambling in CA you better believe is lobbied against by not just the Tribal casino owners in CA, but by the deep pockets of Las Vegas money. Similar thing can be said for FL, but let’s take a look at some actions by LV/nationwide gambling companies that are starting to align financial incentives with guys like DKNG.
MGM / GVC Holdings JV in BetMGM - $450m total invested
PENN invests $163m into BS Sports
Caesars has a 20% stake in William Hill plus partnership deals with The Stars Group (TSG) & our winner DKNG for operating its sports books
So it’s safe to say going forward, nationwide legalization of sports betting will reap rewards for everyone involved, & no longer be something LV money is completely focused on safeguarding. Let’s also not forget that DKNG didn’t become the Company they are today because of their fancy app, but because their management team has a HISTORY of navigating the U.S.’s legal framework to get what they want out of it.
The Crown Jewel – The Internet Gambling Prohibition & Enforcement Act: I said it in a previous post, but I want to emphasize that them getting Fantasy Sports to be labeled a ‘game of skill’ by FEDERAL Law as opposed to gambling is just something for the history books. Fucking genius shit. When this happened I bet every casino from LV to every Indian Tribe that has one was against it, yet DKNG & other DFS providers won.
There’s more, but more recently: Getting into IL:
In IL, there’s an 18-month ‘penalty box’ for Companies that offer DFS to offer sports betting. Our guys at DKNG created a workaround to this situation with their partnership with Casino Queen [9]. DKNG being savvy again.
15 Most Famous Slot Machines and Most Popular Slot Games
1. Liberty Bell
Invented and designed by a San Francisco mechanic named Charles Fey in 1895, the Liberty Bell is the first slot machine. The main symbols here include horseshoes, stars, spades, diamonds, hearts, and Liberty Bells. Once three bells are aligned, the machine pays 50 cents. Having a coin slot at the top, it features small reels in the middle and a paytable at the bottom. It works like this - players insert a Nickel and pull a lever on the right-hand side to spin the reels. Although the Operator Bell and Liberty Bell have been removed from casinos, the original Liberty Bell on display can be seen in the Liberty Belle saloon in Reno, Nevada.
2. Lion's Share
One of the most famous slot machines, Microgaming’s classic slot Lion's Share, gained a lot of success back in 2014, due to news channels that discussed the topic on how Lion's Share's progressive jackpot hasn’t been hit for two decades. Thousands of people have tried but no one was lucky enough to pull it off. Although the machine only featured 3 reels and only 1 payline, Lion’s Share has managed to become one of the most popular releases in Vegas, so popular that people waited in line just to put a coin into it and try spinning those reels. Eventually, a New Hampshire couple hit the $2.4 million progressive jackpot in MGM’s Grand’s Lion’s Share. Soon after, MGM Grand made a decision to retire the Lion's Share machine since it required a lot of maintenance. Still, the game became part of slot history with a jackpot that took 20 years to win.
3. Megabucks
Created by IGT, Megabucks has managed to become one of the world's best progressive slot machines. The game is also responsible for numerous big wins throughout the entire jackpots’ history. Also known as the biggest money jackpots of all time, Megabucks slot machines are described as simple games with a massive progressive jackpot. One of the biggest wins was when an anonymous engineer won a staggering $39.7 million at Las Vegas' Excalibur, back in 2003. As for the other big wins hit on this machine, there was a cocktail waitress Cynthia Jay Brennan who snagged an incredible $34.9 million at Vegas' Desert Inn, as well as a retired flight attendant hitting $27.5 million at Vegas' Palace Station. Johanna Huendl won $22.6 million whereas an Illinois businessman hit $21.3 million on the very first spin. However, after winning the prize, one of the winner's family members had a tragic accident, which (as some believe) only supported the theory of a Megabucks curse. Other unfortunate stories are just believed to be urban legends, including anecdotes about underage players, as well as casino employees, being big winners but not being able to claim their jackpots because of specific state laws and regulation.
4. Wheel of Fortune
IGT’s Wheel of Fortune has proven to be the second most famous slot machine of all time. Featuring a bonus feature just like the real show, the slot machine is usually played by many slot fans and can be found in numerous casinos all over the globe. Although the game comes in more variations, probably the most popular one is still its 3-reel version, with a colourful wheel at the top. The Wheel of Fortune multiplayer game features a bank of machines where every player gets their own screen. What makes the game even more exciting is the multiplayer edition where people can play the bonus round together, which really intensifies the game show aspect. In a 5-reel Wheel of Fortune slot, however, Wild symbols will help players land winning combos and, if you’re lucky enough, you may get a Super Wild that will boost your win up to 5x! Last but not least, the Triple Action Bonus is activated by getting at least 3 Triple Action Bonus symbols anywhere on the reels. But still, none of the newer Wheel of Fortune slots measure up to the original one because of the large progressive jackpot involved.
5. Mega Fortune
Featuring 5 reels and 25 paylines, NetEnt’s Mega Fortune slot became very popular among players as it usually grows into a multimillion-euro amount before being hit. The main symbols here include luxury cars, yachts, and expensive jewellery, Mega Fortune is an online slot machine game which justifies its theme that comes with the largest ever online slot jackpots. The game offers a few different features that make the entire gameplay more fascinating, however, by far the most interesting ones are the 3 different progressive jackpots: Mega Jackpot, Major Jackpot and Rapid Jackpot. There are counters for all 3 of these that are displayed above the reels. Champagne is the Scatter and if you land at least 3 of them simultaneously, you will trigger Free Spins bonus round. Likewise, Wheel of Luck is the Bonus symbol, and if you land 3 or more symbols in succession from left to right on an active payline, you will activate the Bonus game. What’s interesting about this slot is the fact that a Finnish man won a huge jackpot worth €17.8 million while spinning the reels of Mega Fortune. This record from 2013, has been passed by Mega Moolah, but the game is still proof how rich players can get after playing Mega Fortune.
6. Mega Moolah
Powered by Microgaming and being among most popular slot games, Mega Moolah is a 25-payline progressive slot which has served as a competitor to Mega Fortune's big jackpots. Followed by African safari music, the game features antelopes, elephants, giraffes, lions, monkeys and zebras as the main symbols. Landing at least 3 Scatters at the same time will trigger 15 Free Spins. What’s more, all wins hit during Free Spins are tripled, whereas Free Spins can also be retriggered. Players can win one of the 4 Progressive Jackpots within the randomly triggered Bonus round. The game paid some of the largest slot machine jackpots that have ever been triggered. In 2015,for example, Mega Moolah gained international recognition when a British soldier Jon Heywood won a massive €17,879,645.
7. Cleopatra
Inspired by the famous Egyptian theme and Developed by IGT, Cleopatra is a 20-payline classic game that managed to stand out above similar releases. Featuring ancient Egyptian music, the main symbols here include Cleopatra, the Eye of Horus, scarabs, and pyramids. Landing at least 3 Sphinx symbols will trigger the Cleopatra Bonus, which awards 15 Free Spins. All prizes, except for the 5 Cleopatra symbols, are tripled in the Free Spins round. The game has been so successful that it inspired its creators to make a sequel, Cleopatra II, with richer graphics and engaging sound effects. But even if you choose the original game, you'll be playing a classic that's still enjoyed by various players today. And, in case you land 5 Cleopatra symbols you’ll get a jackpot of 10,000 coins.
8. Book of Ra
Having a popular Ancient-Egypt theme, Book of Ra has always been one of the best choices to play in land based and online casinos. Powered by Novomatic, Book of Ra is a 9 payline video slot that offers plenty of bonus features and big payouts. With entertaining narrative and energising gameplay, there are numerous ways to win here. In case you land 5 archaeologists simultaneously, you’ll get an impressive 5,000x your line bet. Earning big bucks, however, comes from the Free Spins feature. What players need to do is land at least 3 Scatter books to trigger the Free Spins feature. Pages of the book will flip and randomly determine which symbol will expand during the 10 Free Spins. Although hitting the jackpot may not be easy, with only a few one in between, when big wins come, they can be big.
9. Starburst
There’s no denying NetEnt’s Starburst slot became kinda legendary in the iGaming universe. With its dark background and shiny space looking gemstones, Starburst slot features 5 reels and 10 paylines. The well-known futuristic music in this release is also easily noticeable, as is the game’s expanding Wild. More precisely, the Wilds may only occur on the reels 2, 3 and 4, and, once 1 or more wilds appear on those reels, the Starburst Wild feature will be activated. During this feature, Starburst wilds expand to cover the entire reel and remain while the other reels re-spin. Should a new wild land during a re-spin, it expands and stays along with any previously expanded Starbursts for another re-spin. Another cool feature is that Starburst pays both ways, instead of only paying you for landing at least 3 identical symbols on adjacent reels starting with the reel furthest to the left. The maximum single spin payout for a person (betting the $200 maximum) is $100,000. But, in order for that to happen, you must land five bars on consecutive reels on an active payline. Players love this slot, probably because it’s suitable for both newbies and experienced players.
10. Immortal Romance
Powered by Microgaming, Immortal Romance is based on sci-fi and the cult of Vampires which has become one of the popular casino slot machines in the last couple of years. Apart from superb graphics and great audio and visual effects, the slot features 5 reels and 243 paylines, and the theoretical RTP rate of 96.86%. The four main characters are Amber, Troy, Michael and Sarah. When it comes to features and bonus games, Immortal Romance offers different variants. Wild Desire feature can occur randomly, and as soon as it does, it can turn 1 to 5 reels completely Wild. Likewise, landing 3 or more Scatters anywhere on the reels in this game, activates the Chamber of Spins feature which cannot be triggered during Wild Desire. The game is still among the most popular slots, as many players still try their luck in this slot in the hope to get the highest multiplier possible.
11. Gonzo’s Quest
Beautifully designed video slot powered by NetEnt, Gonzo Quest features 5 reels and 20 paylines. The story is based on the famous conquistador Gonzalo Pizzaro who is on his way to the Peruvian ruins and just about to experience the unique quest. Now, Gonzo’s Quest has become one of the most popular slot games of all time, probably because it comes with a few interesting features, Avalanche Multipliers feature being the most interesting one of all. In Essence, the reels in the slot move in a cascading manner which resemble an Avalanche. As you activate each new Avalanche, you will win a multiplier. Multipliers are displayed above the reels, and go up to 5x, that is if you land 4 or more avalanches simultaneously.
12. Age of the Gods
Being among famous slot machines and inspired by Ancient Greek mythology, Age of the Gods is a 5-reel, 20-payline progressive slot powered by Playtech. The main characters are Athena, Zeus, Hercules, and Poseidon power up 4 free game modes that offer extra wilds and win multipliers! Once you start spinning, you’ll come across a series of bonus features, such as Athena Free Games, Zeus Free Games, Poseidon Free Games and Hercules Free Games. Wild logo is the game’s wild card and it substitutes for all symbols, with the exception of the Scatter. Landing at least 3 Scatters anywhere on the reels simultaneously triggers the Bonus game. Moreover, landing 5 God symbols in any order on an active payline will get you 200x your line bet! During the main game, any spin can activate the Age of the Gods Mystery Jackpot. This mini game guarantees a win of up to 4 progressive jackpots. All you gotta do is click on the coins to reveal jackpot symbols, and if you match 3 identical ones, you will win that jackpot.
13. Money Honey
Having a cute theme, Money Honey is a 5-reel and a 243 payline slot themed around honey. With Wilds, Free Spins, Scatters and multipliers, it is a fast-paced exciting creation featuring vibrant colours. Likewise, it is a mobile-optimized slot which may be an excellent choice if you’re new to online gambling or if you’ve been playing for years. Just like in other games, Wilds will help you win payouts as they are able to replicate most other symbols on the reels once a winning combination has been made. Another symbol you may want to keep your eyes on is a Money Wheel card. Once you manage to land at least 3 of them on your reels after a spin, the bonus game begins, and you spin a big wheel to choose a prize.
14. Quick Hit
And our selection wouldn’t be complete without Bally's Quick Hit slot. Featuring traditional Las Vegas symbols with sharp graphics and relaxed music, the video slot has 5 reels, 3 rows, and 30 paylines. Once you decide how many paylines you want to bet on, your gaming adventure can begin. There are Scatters symbols and three bonus games to benefit from. The biggest payout here comes from landing the triple seven symbol. Should you land 5 of these lucky numbers on the reels at the same time, you will win 5,000 coins, whereas if you land five wild symbols, you’ll get 12,500 coins. Those looking for hitting a jackpot should pay attention to Quick Hit Platinum symbols as 5 of these contribute to 5,000x players’ original bet amount – and even more, with the max bet activated. The second-highest jackpot can be hit by landing 9 Quick Hit Slot symbols. Both the Quick Hit Platinum and regular Quick Hit symbols must occur on or within one position of the first payline to be eligible for a jackpot win.
15. SlotZilla Zip Line
And now something completely different. We’re finishing our selection of famous slots in style, with the world’s largest slot machine - StotZilla Zip Line - 128 feet tall which has two take-off levels. This $12 million SlotZilla zip line took more than a year to build and opened its doors in 2014 and has already had more than 2 million riders so far. The 11-story slot machine is decorated with over-sized dice, a glass of martini, a pink flamingo, video reels, coins, and two showgirls - Jennifer and Porsha. SlotZilla offers two different rider experiences - the upper Zoomline and a lower Zipline. This unique machine has a huge video screen with reels and a gigantic arm, replicating a true slot machine experience.
“On Tuesday, Tennessee Education Lottery (TEL) CEO Rebecca Hargrove said it is aiming to launch the state’s sports betting market by 1 November at the latest. This means that Tennessee residents will be able to legally bet on sports during the upcoming football season. Sports betting became legal in Tennessee in May 2019 and since then, Colorado, Illinois, Iowa, Michigan, Montana and New Hampshire all managed to legalise and launch their sports betting markets. Licensing updates During Tuesday’s Sports Wagering Advisory Council meeting, Hargrove revealed that four operators and approximately 20 vendors and suppliers have applied for licenses. The names of the operators were not disclosed; however, media sources say that BetMGM, DraftKings and FanDuel have applied for a license. The fourth company is Tennessee Action 24/7, a local Tennessee company that offers free-to-play games. On Tennessee Action 24/7’s website, a message says that the TEL is “currently processing our Sports Gaming Operator license application.” In its latest quarterly report, MGM resorts revealed that it currently has market access and plans to launch sports betting operations in Tennessee later this year. Online sports betting only Unlike other states with legal betting, Tennessee’s sports betting laws only permit online and mobile sports betting. Tennessee is the only state to legalise online-only sports wagering, which makes it an outlier in the wider US gambling market.” https://www.compare.bet/news/tennessee-sports-betting-to-go-live-on-1-november
“On Tuesday, Tennessee Education Lottery (TEL) CEO Rebecca Hargrove said it is aiming to launch the state’s sports betting market by 1 November at the latest. This means that Tennessee residents will be able to legally bet on sports during the upcoming football season. Sports betting became legal in Tennessee in May 2019 and since then, Colorado, Illinois, Iowa, Michigan, Montana and New Hampshire all managed to legalise and launch their sports betting markets. Licensing updates During Tuesday’s Sports Wagering Advisory Council meeting, Hargrove revealed that four operators and approximately 20 vendors and suppliers have applied for licenses. The names of the operators were not disclosed; however, media sources say that BetMGM, DraftKings and FanDuel have applied for a license. The fourth company is Tennessee Action 24/7, a local Tennessee company that offers free-to-play games. On Tennessee Action 24/7’s website, a message says that the TEL is “currently processing our Sports Gaming Operator license application.” In its latest quarterly report, MGM resorts revealed that it currently has market access and plans to launch sports betting operations in Tennessee later this year. Online sports betting only Unlike other states with legal betting, Tennessee’s sports betting laws only permit online and mobile sports betting. Tennessee is the only state to legalise online-only sports wagering, which makes it an outlier in the wider US gambling market.” https://www.compare.bet/news/tennessee-sports-betting-to-go-live-on-1-november
My Personal Market Research & Statistics in 2020: Countries That Gamble the Most
The gaming sphere is so different and immense that it is divided into many structures and substructures. For example, games can be divided according to their type, capabilities, gambling, devices, technology, etc. But what is more remarkable is the appearance of statistics in games, when you can see and understand many nuances with your own eyes. So, let's talk about gambling research and statistics in 2020. Throughout its existence, gambling has been constantly subjected to various pressures from the law, states, and opponents of this activity. And the first step is to talk about the most important thing in the gaming industry, namely, legality. There are several countries where gambling is allowed. This business is closely monitored by special authorities, subjecting the gambling activities of companies to various frameworks and rules. On the one hand, some laws can be very depressing, but compliance with them allows companies to legally and transparently offer their content to the consumer - and as a result of legality and licensing, the company ensures safety for the user and gains trust from him. There are also countries and their areas where games are partially allowed or have more severe rules. https://preview.redd.it/k3c15lhb7eb51.jpg?width=625&format=pjpg&auto=webp&s=c5d00e3ca7c045288c9f4332079ec208a496814d The main countries where you can gamble are:
Australia;
The United States;
Canada;
New Zealand;
The UK;
China (Macau).
But it is highly recommended to check the legality of gambling for money in your area, the rules and laws change quite often. Often online casinos have a separate page where you can check this. https://preview.redd.it/bwky69rc7eb51.jpg?width=433&format=pjpg&auto=webp&s=11ab101087def28200b4ed2c4e31aa6992b395fe The most popular gambling games in the world are casino games (mainly slot machines and roulette), sports betting (mainly horse racing), and poker. It's also easy to see the big difference between playing ages between the United States and the UK. In the first country, young people play more, as in the second, those who are over 55 years old. This may be due to many factors, at least mentality and freedom of choice. Note that the world's most famous gambling capital Macau wins in terms of income per visitor, and the biggest losers are in Australia. Australia More than 6.8 million Australians are considered to be players who play in the country - this is approximately 39% of the total population. Australian people love to play, most of them love to gamble on portable devices that they can take with them, such as a mobile phone or tablet. 78% of players are able-bodied adults 18 years of age or older, and the average playing age is 34. Women and men play equally in the same amount, that is, 50/50, although earlier women players were 4% less than men. Australians play pokies mostly for fun, and some older people play to train their thinking and improve their brain function. Residents are not against betting and consider them very useful for the economy and development of the country. USA As you know, the most common place for gambling in the United States is Las Vegas, but do not forget about Atlantic City and the water casinos, which are legalized in Louisiana and Illinois. Online betting is available for almost all states. Almost 65% of the entire adult population of the country, one way or another, play games, mainly on their smartphones. More than $ 80 billion is the total value of the gambling industry in the country. Most of the people who play are mostly in the 18 to 30 years old area. 15% of all residents of the country play at least once a week. Mostly preferences are for online casinos, but many players love old school and play in land-based casinos. Americans love big win and impressive jackpots, especially progressive ones, which can easily reach up to $ 20 million. https://preview.redd.it/rscu153i7eb51.jpg?width=607&format=pjpg&auto=webp&s=876f3cac692bfc81e7d94dee194fa0b24d9e6bcf UK In the United Kingdom, more than 46% of the country's population gamble and at least several times a month. Players prefer different strategies for their pastime and use handheld devices, but there are also a large proportion of those who still prefer a computer for their gaming sessions. The older generation plays more in the country. These are able-bodied adults who are 55 years old and older. Most likely this is due to a large amount of free time and the possession of significant finances, which can be easily used in online casinos. Players prefer online casinos 10 times more than in other countries, but there are still more than 250 land-based casinos in the country. To a large extent, the British know how to play to win significant sums. They use the strategy of maximum possible bets on the same game regularly. Canada More than half of the Canadian population gamble and their percentage is growing every year along with the development of online casinos and the availability of gaming content. The biggest number of residents of the country prefer casual games, they quickly learn how to play in various slots, which also increases the number of new players at lightning speed. Also, Canadians like to use different tips for choosing a game or strategy, for example, such as the one here https://freeslotshub.com/offline-slots/ 78% of the country's online gamblers are male, and the average age hovers 35 and a half, although almost a decade ago, he was with the index 45 years. The legal age for gambling in Canada varies from province to province, some from 18 and others from 19. The average annual spending per average Canadian on betting is over $ 17 billion, and every year the figure is growing by about 5%. Other Countries that Gamble Various forms of the gambling industry are legal and regulated in many places: in the countries of the European Union, Asia, and countries around the Caribbean, but they have much stronger control and rules from the state.
44% of Singaporeans aged 18 and overplay.
Almost every 9th German player.
More than 31.5 million visitors to Macau per year.
Spain registers about 3.9 million new players every year.
Japanese gamblers spend over $ 31 billion in casinos annually.
https://preview.redd.it/47fdp0te7eb51.jpg?width=436&format=pjpg&auto=webp&s=5452d58b2a724e846772b57458aa9019b3c530f2 World statistics easily show that approximately 26% of the world's population regularly gamble and more than 17% of them play online. The gambling industry is growing and thriving, over time the income of companies that are involved in the gaming industry will grow at lightning speed. To some extent, the development of technologies provokes this growth, because experienced players have simple and convenient access to gaming content, and new ones have the opportunity to try content for free without any risk of losing real money.
Although in November 2018 the voters backed a state amendment restoring voting rights to over one million felons who completed their sentence, State Governor Ron DeSantis and State Secretary Ken Detzner said it would not be active in time for the February elections. This contradicts the directive from the Florida Department of State. https://theintercept.com/2019/01/08/florida-felon-voting-rights-amendment-4-2/
Ahead of 2018 election, election board seeks to close 7 of 9 polling locations because they are not compliant with the Americans with Disabilities Act, rather than improve disabled access https://thinkprogress.org/ada-voter-suppression-cd7031080bfd/
7th U.S. Circuit Court of Appeals in 2019 upholds Federal ruling blocking Indiana law to purge voter registrations without verification or notice, solely based on Crosscheck https://apnews.com/48214553535a404aac3376451387190a
DMVs give false information up until two days after registration deadline, telling citizens that they can only vote for federal offices, not state. Kobach had declared voters cannot vote for state offices back in June 2018, despite two court orders to register thousands of suspended voters https://www.kcur.org/post/kansans-got-wrong-information-dmv-until-voter-registration-deadline
Self-branded investigator of Voter Fraud and Kansas Secretary of State and Chief Elections Officer Kris Kobach driven to recuse himself in 2018 after the Secretary of State's office reported multiple election discrepancies from county tallies, where he claimed victories that county clerks claimed he lost. He stated however he would not recuse himself should there be a recount. https://www.cnn.com/2018/08/09/politics/kris-kobach-kansas-republican-governor-primary/index.html
3 Federal Judges in 2019 rule Michigan map is unconstitutional for gerrymandering, following email leaks of GOP staffers admitting to intentional gerrymandering, describing a finger-shaped district as "giving the finger to Sandy Levin... I love it," and strategist Robert LaBrant being concerned a 10-4 seat advantage would be too "blatant." On May 26, 2011, LaBrant wrote “We needed for legal and PR purposes a good looking map that did not look like an obvious gerrymander.” Each year the GOP took 9 of 14 House seats despite getting only 46% (2012), 47% (2014), and 48% (2016) of the votes. https://www.nytimes.com/2019/04/25/us/michigan-gerrymandering.htmlhttps://www.bridgemi.com/public-sectoemails-suggest-republicans-gerrymandered-michigan-weaken-dem-garbage
In 2016, suits challenged Voter ID laws and state gerrymandering. On the floor, House Rep David R. Lewis, chairman of the redistricting committee, said “I think electing Republicans is better than electing Democrats ... so I drew this map in a way to help foster what I think is better for the country.” https://www.nytimes.com/2016/03/11/us/north-carolina-voting-rights-redistictricting-battles.html
Democratic governor accuses GOP of blocking both 2018 investigation and interim Board of Elections after the North Carolina Board of Elections and Ethics Enforcement declined to validate the election results. The investigation was forced to dissolve and the Republican chair is declining to nominate for the interim board, resulting in no investigation hearings https://lawandcrime.com/high-profile/north-carolina-gop-accused-of-derailing-investigation-into-election-fraud/
"I don't want everybody to vote... As a matter of fact our leverage in the elections quite candidly goes up as the voting populace goes down." -Paul Weyrich, co-founder of Heritage Foundation and ALEC, 1980 “Look, if African Americans voted overwhelmingly Republican, they would have kept early voting right where it was,” Wrenn said. “It wasn’t about discriminating against African Americans. They just ended up in the middle of it because they vote Democrat.” -Carter Wrenn, Republican consultant in North Carolina “There's a lot of liberal folks in those other schools who that maybe we don't want to vote. Maybe we want to make it just a little more difficult. And I think that's a great idea.” -Cindy Hyde-Smith, Republican Senator of Mississippi, 2003 Seeking more examples, if you have them. Get out and vote. https://www.vote.org/
Illinois’ gambling laws cover individuals, natural persons, public or private corporations, governments, partnerships, unincorporated associations and other entities. Gambling is a Class A misdemeanour and certain subsequent convictions may result in a felony conviction. Under the Video Gaming Act, it is a Class 4 felony to own, operate ... While Illinois’ criminal code doesn’t specifically address social and private gambling, we can again refer to Article 28 to see that betting on anything outside of licensed options is illegal. As unfair as it may seem, Illinois doesn’t even want you playing low-stakes card games with your friends. Significant enhancements to Illinois online gambling laws were introduced in 2019, with the passing of the Illinois Gambling Act. Governor Pritzker signed the bill into law on June 28, 2019. The law makes sports betting in IL legal, at both land-based venues and online. The Act contains provisions to expand the state’s gambling industry ... Illinois law defines gambling as “playing games of chance or skill for money or other thing of value,” which leaves very little wiggle room for creative interpretation. Some people believe that playing on offshore sites shouldn’t be considered unlawful because the issue of online gambling hasn’t been addressed directly. Illinois Compiled Statutes Sec. 5-2. When accountability exists. A person is legally accountable for the conduct of another when: (a) having a mental state described by the statute defining the offense, he or she causes another to perform the conduct, and the other person in fact or by reason of legal incapacity lacks such … Illinois Gambling Laws Read More » The Illinois Gambling Act (230 ILCS 10) is available online on the Illinois General Assembly website. A hard copy of the Act can be found in the printed Illinois Compiled Statutes (any publisher), which is available at all law libraries and many public libraries. Go to 230 ILCS 10/1 et seq. Pennsylvania online gambling has reached biggest success within public, promoting numerous events and games. It is 100% legal and secure. If Vegas is mecca for rich people, spending thousands on hotel, planes and restaurants, we can call PA online gambling is a starting point for everyone. Gambling laws in the State of Illinois specifically address the issue of online gambling. Under Illinois gambling laws, it is illegal to operate, maintain or establish a website that allows a person to use the internet to play a game of skill or chance for money or anything of value or to make a wager on the outcome of any contest, game, political nomination, election or appointment. Illinois gambling laws say the legal age to gamble in casinos for Illinois residents is 21, and it’s strongly advisable for residents to wait until they are of an appropriate age to do so in order to avoid legal fines, court dates and even a probation period. Despite the seemingly harsh laws against it, Illinois’ online gambling industry is growing fast. More individuals are playing at IL sports betting sites every single month. This is especially true now that the state decided to legalize sports gambling. To sum it up, the state’s online sports betting industry is in kind of a gray area.
GTA Online Gambling Update BANNED in 50 Countries - Inside ...
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