Cambodia’s Star Vegas Resort Opens Poker King Club Room

Star Vegas Resort & Club located in Cambodia officially opened a poker room this Saturday. The new venue bears the brand of Poker King Club and promises to keep its customers entertained and satisfied at all times.
The opening will happen on the same date as an event from the Asian Poker Tour which will be held at Star Vegas. The week-long tournament commenced on the 1st of July and it will continue until the 7th of July. All participants in the tournament will have the opportunity to take part in a US$1,100 main event which is planned to start on the 3rd of July.
Tetsuya Tsuchikawa, a professional poker player from Japan won the welcome event of the tournament and now it is time for the next events to begin. On the 3rd of July, the US$1,100 Buy-in Main Event is scheduled to start. According to the organizers, the whole tournament has a No-Limit Hold’em deep structure, which is considered appealing to many of the poker players.
Poker King Club’s opening ceremony was attended by some former players of Manchester United. Some of the players who were there on Sunday were Nicky Butt, Philip Neville, Gary Neville, Ryan Giggs and Paul Schoels. Back in August 2015, Donaco announced it had signed a three-year sponsorship deal with the English football club, which appoints it as”exclusive casino resort partner” of Manchester in Thailand, Cambodia, Vietnam, Laos, Myanmar and South Korea.
Asian Poker Tour Southeast Asia will reside in the resort, located in the town of Poipet, which is close to Cambodia’s border with Thailand. Star Vegas Resort & Club is operated by the investor Donaco International Ltd. This event will coincide with the two-year anniversary since the acquisition of the resort by the Australia-based casino operator.
According to a research and background information provided by Donaco International, more than 90 percent of the customers in their casino are from Thailand. Moreover, there are more than 5,000 people being shuttled from Thailand to the resort on a daily basis. On the 1st of May Donaco announced it had signed a three-year deal with Kings Consulting Ltd. which will give Star Vegas Resort & Club the opportunity to host more than three international poker tournaments.
Kings Consulting is a unit of the Suncity Group, which is Macau’s VIP junket room investor and it currently owns the Poker King Club brand. The giant company is currently developing and expanding their name in Southeast Asia, and one of the ways they are able to achieve that is by making an investment in a casino project located in Vietnam.

Lottery Addicts in Bulgaria Buy Fake Hope with Scratch-Off Tickets

A new tendency seems to overwhelm people in Bulgaria and that is the National Lottery’s scratch-off tickets. Walking on the streets of any city (even villages) in Bulgaria, one can see small kiosks, flocked with people, who are frantically scratching the tickets of hope. Their hands are shaking most probably because they have scratched so much of these lucky cards, so that they have developed some form of hand tremor. It is not a single case in which an old lady or gentleman is waiting in the line at the supermarket, doing “groceries”, consisting of multiple scratch-off lottery tickets and probably a loaf of bread. At the cashier, if it turns out that the money is not enough, the chance to leave the bread and take only the tickets is times bigger.
Economic Situation in Bulgaria
It is not a secret that the most vulnerable people are those with financial difficulties. They often fall into the gambling trap, lured by the idea of winning “easy money”. To better explain the reasons why so many people are obsessed with these scratch-off lottery tickets, it is worth to shed light on the economic situation in Bulgaria, which is honestly not really thriving.
According to a research, conducted in 2016 by Eurostat, 2.5 million Bulgarians (which is 35% of the total population) live in poverty. These figures are more than alarming. Apart from that, it was estimated that more than 80% of the families’ income is spent on basic needs such as electricity, food and etc. Currently, the minimum wage in Bulgaria is BGN460 (€235.20) per month, while Bulgaria’s average monthly wage is more than BGN1000. This amount could be sufficient for the average Bulgarian to avoid any financial hardships.
Unfortunately, it appears that there is almost no middle class in Bulgaria, as the salaries are either really high or embarrassingly low. A major problem which appears among the working class is that many employees in Bulgaria work without a contract. These people are often either not paid at all, or they work for below the minimum wage.
Another shocking revelation is related to the retired people in Bulgaria. After a number of increases (the last being introduced on 1st July 2017), the retired people currently pocket the “solid” amount of BGN180 per month. Many people would say that this is the minimum amount and not all the people get the minimum. That is absolutely true, but the National Social Security Institute reported that almost ¼ of the retired people in Bulgaria count on the minimum amount. Speaking of the minimum amount, it is also worth to mention that the pension cap is BGN910 and around 2.8% of all the pensioners in Bulgaria can enjoy amounts above BGN800 up to BGN910.
This brief overview of the economic situation in Bulgaria excuses to some extent the gambling obsession of the country’s residents as hope dies last. No matter how unreasonable may sound, there are so many Bulgarians who prefer to spend their money on lucky tickets, coffee, and cigarettes than on breakfast.
Lottery Games in Bulgaria
Currently, lottery games in Bulgaria are 3 in total – the private National Lottery and Bulgaria’s National Lottery, and the Bulgarian Sports Totalizator, which is owned by the country. The two private lottery companies are known to be owned by the businessman Vasil Krumov Bozhkov, considered to be one of the richest (if not the richest) person in Bulgaria.
Mr. Bozhkov is also the owner of the sportsbook Eurofootball, through which he first promoted his lottery tickets, before these entered almost every shop in Bulgaria. The name of the Bulgarian politician Delyan Peevski also is linked to the private 2 private lotteries, as he is the co-owner. Nevertheless, it is a public secret that Vasil Bozhkov remains the leading figure behind the two lottery games and the sportsbook Eurofootball.
In 2014, it emerged on the surface that Mr. Bozhkov saved almost BGN30 million from taxes due to an amendment in the country’s gambling law introduced by the administration of Plamen Oresharski. Under the changes, which came into effect on 1st January 2014, all lottery games, card games and bingo halls were exempt from taxes. This led to a significant loss of at least BGN30 million, which could bridge some gaps in the country’s budget. Later on, the changes were repealed and in 2015 Bulgaria reported income of BGN37 million, generated by the 15% taxes on the gambling operations.
Moreover, it is worth to mention that Bulgaria’s current Prime Minister Boyko Borisov allowed the lucky tickets to enter every shop in Bulgaria. Along with the tax-free status for an year, this is the second time in which the Bulgarian government gave a strong push forward to Mr. Bozhkov’s lotteries – a business, which brings pretty stable income to its owners.
Vasil Bozhkov’s lottery games, including National Lottery and Bulgaria’s National Lottery, seem to earn from people’s despair, lack of money, and hope. Most of the people do not realize that scratching a ticket is a form of gambling and underestimate the problem. Even parents started to urge their children to choose a ticket, hoping that the kids are luckier. Another major problem is that everyone can buy a ticket, including minors under 18, teaching them to rely on their luck instead of on their skills in life. Bulgaria’s government needs to tighten its gambling law before it is too late and the things go completely off the rails.

Proposed Gambling Regulation Gains Momentum in Brazil

Brazilian officials consider introducing a new package of law, which is to relax the restrictions imposed on the gambling market. The local media JD1 Notícias published the results of a recently conducted public opinion research, which showed that the majority of the Brazilian residents support the regulation of the industry. This opens a great perspective in front of the Latin American country, as it can craft the best gambling law by extracting knowledge from the most successful regulated markets around the globe. Introducing an adequate and effective legal framework, on the other hand, will lead to economic benefits for the country.
Data Research Analysis
According to a research, conducted by Paraná Pesquisas, 45.7% of the Brazilian citizens gave their support to the regulation of casinos. The research also showed that most of the people, who supported the legalization of the gambling operations throughout the country are working and well-educated men. Moreover, men seem to be more supportive to the opening of land-based casinos than to the establishing of bingo halls.
The data also showed that mostly women and unemployed people did not welcome the idea. Analysts explained that the reason for this trend is that the opposing group of people are not among the regular players and hence they have no interest in regulating the market. Nevertheless, the supporting group seems to slightly prevail over the opposition, which is 45.3% of the voters.
Potential for Casino Development in Brazil
Speaking of the potential development of the gambling industry in Brazil, it should be noted that the country is in a very favorable position to regulate its market, being the 5th largest country in the world in terms of population. As aforementioned, many countries around the globe already opened their markets, introducing successful and effective regulations. Hence, Brazil can learn from these countries and pick up the best aspects, implementing them in its own gambling law.
Regulating the market also means that the country is to generate higher revenues and boost its economy, projecting an income of $5 million. This, on the other hand, will tap the leakage of money to the currently flourishing illicit gambling business. A regulated gambling market will also protect the players’ interests and rights, saving them from any possible frauds.
Another positive aspect is that the unemployment rate is expected to drop as more job opportunities will be created. It is also worth to mention that the gambling market has the potential also to attract more foreign visitors in the country and contribute to the further development of the tourism industry.
Brazil seems to follow the blueprints of its Latin American predecessors, facing the opportunity to regulate its gambling market. The initiative of regulating the market is triggered by a number of economic, financial and social benefits. It is yet to become clear if the country will regulate the market, but if so, legislators should be mindful in crafting the gambling law.

Canberra in Talks to Efficiently Fight Gambling-Related Harm

The local media Canberratimes reported earlier today that on Friday, 15th September, Canberra is to discuss any possible measures, aiming to curb gambling problems and prevent social ills. Among all the measures, a central place will take pokies pre-commitments systems in clubs. For the most efficient result, industry-involved people, officials, and players will discuss various ideas at a roundtable conference. Hopes are placed that the joint work will provide a more efficient result.
Pre-commitment systems for Pokies to Appear under the Spotlight
Problem gambling was a concern, voiced by most of the countries with a regulated gambling industry. Canberra is not an exception to the rule, as the Australian Capital Territory (ACT) government is exploring various ways to prevent people from the addictive nature of gambling and financial losses. The idea to introduce pre-commitments for pokies seems to gather momentum, as it is a potential solution to the problem, or at least part of it. In that way, players will be unable to fall into the trap of chasing their losses, as they will be required to stop playing the moment they reach a certain limit.
Players, Operators and Officials Join Forces
It was explained that the roundtable conference is to gather players, operators and officials at one place, to face the problem together and cope with it. The former problem gambler Professor Laurie Brown and Steven Willis (a prominent upholder of the responsible gambling concept) are approved to visit the meeting. They will share their views on the matter with ACT Attorney-General Gordon Ramsay and ACT Gambling and Racing Commission chief executive David Snowden on Friday.
Clubs ACT chair Kim Marshall, Canberra Community Clubs chair Athol Chalmers and Labor Club group chief executive Arthur Roufogalis will attend the meeting, presenting the operators’ viewpoint. Apart from the aforementioned participants, other important figures will become part of the conference, including ACT Council of Social Services director Susan Helyer, Care Financial director Carmel Franklin, Canberra Gambling Reform Alliance co-chair Jeremy Halcrow and Lifeline ACT chief executive Carrie Leeson.
Highest Tier Achieved So Far in Fighting Gambling Problems
It is interesting to note that a bill introduced last month focuses namely on the poker machines pre-commitments systems. Supposing the bill enters Australia’s legal code, players will be required to set in advance a loss limit, covering a period of 24 hours when playing poker machines at a casino. The upcoming conference, though, is to discuss the implementation of such pre-commitment systems also in clubs.
Mr. Ramsay explained that so far, the government included a number of measures to reduce the harm of gambling, but such a fast-developing industry requires more attention. He pointed out that the combination of the measures will encourage responsible gambling among players and prevent from social ills.

Amaya’s Former CEO Faces Trial on Fraud Charges

Amaya Inc. founder David Baazov will face yet another trial, as he was accused by an investor in Dubai of using the investor’s name to support the takeover bid for Amaya, which took place in 2016. The news came with another shocking revelation that Kalani Lal, the founder and President of KBC Aldini Capital Limited laid out a legal case against Mr. Baazov in January this year, claiming that Mr. Baazov benefited from his company’s name to give a strong push forward to the takeover bid, in which Mr. Baazov offered to acquire the company he had found himself.
Even though David Baazov stepped down from his leading position in the Canadian gambling company Amaya, his name still seems to be linked with a number of scandals. This Friday, the local news agency La Presse reported that Mr. Lal filed a legal case against Mr. Baazov, accusing him of leading his takeover bid under Lal’s name without having the permission to do so. The trial is expected to take place in November this year.
Mr. Baazov’s intentions to buy and privatize Amaya suffered strong public criticism. This undervalued Amaya’s price per share on the stock market. To boost his takeover bid, Mr. Baazov named KBC as a supporter, even though the company’s President Mr. Lal did not give his approval and denied involvement in the deal. This resulted in the current situation, in which the former Chairman and CEO Mr. Baazov will go to the court once again.
The Quebec securities regulator Autorité des Marchés Financiers (AMF) released the full official report on the case, explaining that KBC’s regular customers are mostly Muslims, whose religion strongly oppose any gambling activities. It was added that KBC will not put at stake its own clientele only to back Mr. Baazov’s interests.
David Baazov’s Previous Deeds
To make it clearer, it is worth to provide certain details regarding Amaya’s takeover bid and Mr. Baazov’s participation in it. In 2016, Mr. Baazov officially announced his takeover proposal to acquire Amaya for C$3.6 billion, or C$24 per common share. The entire deal was estimated to cost around C$6 billion as it included also taking over the company’s debt. In a filing to the US Securities and Exchange Commission, Mr. Baazov announced that he had the support of 4 companies, including KBC Aldini Capital Ltd., which may appear not to be completely true.
Here, it is interesting to note that at that time, Mr. Baazov was facing yet another legal hurdle, as he was investigated by the Québec securities regulator Autorité des Marchés Financiers over insider trading activities related to the acquisition of Isle of Man-based Rational Group. Supposing that the lawyers prove Mr. Baazov’s involvement in the aforementioned trading activities, he might be sent to prison for 5 years, besides the sentence he might get for unlawfully benefiting from Mr. Lal’s name.

Nebraska Lawmakers Discuss New Daily Fantasy Sports Bill

The astronomical growth of the daily fantasy sports industry has attracted the attention of politicians, looking to get a slice of the multi-billion dollar pie for the state funds. In recent years, the daily fantasy sports contests have exploded in popularity. Industry observers are convinced that it is a matter of time for the thriving daily fantasy sports industry to start be taking market share away from the traditional bookies. The number of people, who are regularly playing paid-entry fantasy sports is constantly growing.
Many states across the U.S. are currently trying to clarify the legal status of the daily fantasy sports industry. The most perplexing aspect of the industry is if the daily fantasy sports contests involve more skill or more chance. In other words, the lawmakers should decide if daily fantasy sports are a form of gambling or not. Industry experts claim that the sports betting contests can be best described as skill-dominant gambling games, as the outcome of the games is dependent on both factors.
The clamor to classify daily fantasy sports contests as gambling continues to grow across the U.S. This Tuesday, Nebraska lawmakers commenced debate on a state’s bill that would impose new regulations on fantasy sports websites. The legislative bill would ensure a safe and fair gaming environment.
Supposing that the bill enters the law books, all companies that offer daily fantasy sports contests will be required to register with the Nebraska Department of Revenue. Apart from that, the bill also includes a prohibition on college and high school sports. The companies that violate these requirements will face a hefty fine of $1,000 per violation.
The Battle of Skill vs. Chance in Fantasy Sports
Fantasy sports are contests where participants compete against each other. The players are building fictional teams of real players of a professional sport based on a statistics regarding the real performance of the athletes. The fantasy sports websites usually charge an entry fee and offer cash prizes. Some of the leading operators of daily fantasy websites include DraftKings and FanDuel.
Sen. Tyson Larson of O’Neill explained that the new regulations aim at protecting the players’ interests from the strategies of the daily fantasy “sharks” that use computer algorithms to stack the odds against their competitors. He explained that there are many industry-involved companies that offer as much as 3,000 entries at once, which means that an average player has almost no chances to win. Larson added that there is no authority that regulates the daily fantasy sports industry by far and some companies benefit from the situation.
Larson elaborated that the daily fantasy sports contests are predominantly based on skill. The lawmakers ended the debate without voting on the proposed new regulations. The opposition slammed the proposal, explaining that this it aims at expanding the gambling industry. Sen. Ernie Chambers of Omaha, who is a vocal opponent of the bill, explained that he plans to protract the issue.

Windsor Receives C$2.3 Million Third-Quarter Payment for Accommodating Caesars Windsor

Many countries around the globe are actively pursuing the legalization of gambling, hoping that the industry can alleviate the growing budgetary pressure. Canada is among the countries, which managed to benefit financially from gambling and pump a lot of cash into its economy. The weapon that the casino industry uses to attract municipalities to host a casino is the financial benefits that the gaming industry can contribute to foster local economic developments.
According to the latest news, Windsor received C$2,288,389 from the Ontario Lottery and Gaming Corporation (OLG). The quarterly payment is made because Windsor is among the Canadian communities that host a casino. The announcement was made by Ontario Finance Minister Charles Sousa in a media release. Sousa specified that OLG revenues support public services such as healthcare and education.
Since May 1994, Windsor has received a total of more than $46.3 million in non-tax gaming revenue for hosting Caesars Windsor. It is important to mention that OLG provides the Ontario government with its largest source of non-tax revenue. That sense, casino gambling provides substantial economic benefits to Ontario’s municipalities.
An equitable formula in the Municipality Contribution Agreement is used to calculate the annual hosting payment. The formula is an escalating scale of gaming revenue that is valid across all sites in Ontario. According to reliable sources, the Ontario government reaps approximately C$2 billion every year from the gambling industry. During the first quarter of 2017, Windsor received more than C$3.5 million for hosting Caesars Windsor. The second-quarter payment to Windsor amounts to C$2,477,896. The latest payment is the third-quarter non-tax gaming revenue payment.
Gambling Supports Local Economic Development
Caesars Windsor is one of the four gambling facilities located in the Detroit–Windsor area. It is publicly owned by the OLG, but it is operated by the American gambling conglomerate Caesars Entertainment Corporation. In May 1994, the casino opened its doors for the first time in a temporary location. Since then, the casino has turned into a preferred spot for the casino gambling enthusiasts. Only a few days ago, Caesars Windsor made the headlines after being named Tourism Industry Association of Ontario’s Employer of the Year with more than 2,500 employees.
Last year, Caesars Windsor reported that its revenues went up to stimulate the local economy. Needless to say, the casino is one of the largest employers in the area. In that sense, Caesars Windsor lowers the unemployment rate and stirs economic activity in the region. Another important factor is that the gambling industry also boosts the surge of tourists, which stimulates struggling local small- and medium-sized businesses.

Florida Advances Constitutional Amendment on Gambling

Florida Politics reported that the majority of Florida voters voted in favor of a proposed state constitutional amendment on gambling. According to poll results publicized this Thursday, 76% of the voters said “yes” to the proposed constitutional amendment, that is to allow locals to have their say on casino gambling industry. Under the suggested amendments, the voters will decide if casino gambling will be authorized throughout the state. The proposed constitutional amendment will appear on the November ballot as “Amendment 3”.
Florida voters could finally participate in the decision-making process when it comes to casino gambling. The proposed constitutional amendment “would require voter approval to authorize casino gambling in the state”. The amendment, which is also known as “Voter Control of Gambling Amendment” is backed up by Disney company and the Seminole Tribe of Florida. Disney Worldwide Services contributed $4.35 million and the Seminoles paid $1.3 million to support the Sowinski’s committee.
Last year, Florida lawmakers approved to include the gambling question on the November ballot. It is important to note that all constitutional amendments require 60% approval from the voters to pass. John Sowinski, chairman of the Voters in Charge political committee behind the amendment, explained that the proponents and opponents of the amendment are to invest millions of dollars to convince voters to share their respective point of view regarding the proposal.
The Constitutional Amendment is Likely to Pass
According to a press release, 76% of the voters initially supported the constitutional amendment and only 19% opposed it. Following a full presentation of arguments supporting both sides, the support for the measure reached 84%. Mr. Sowinski commented that the results should not surprise anyone, as people seek to regain control over the future of gambling expansion in Florida, which is currently in the hands of the electorate.
The survey was conducted by Hill Research Consultants. A total of 1,235 people, who are likely to vote in Florida’s November general election were interviewed. By adding that question to the November ballot, the lawmakers make sure that more people will vote in the upcoming election.
Earlier this week, Senate President-designate Bill Galvano announced that the state is considering certain changes to the gambling industry in Florida, so that the state is ready to compensate for potential revenue losses.
If the proposed constitutional amendment passes, the Legislature fear that it will lose the control over the future of the gambling expansion in Florida. Last year, the Seminole Tribe has agreed to continue monthly revenue sharing payments to the state in return for the state’s approval to agree with a judge’s ruling that allows it to continue to operate blackjack and other banked card games at its casinos. The deal expires in 2030.

OLG Confident Ontario is Not Short of Responsible Gambling Funding

Representatives of the Ontario Lottery and Gaming Commission (OLG) addressed concerns in relation to the construction of a new gambling establishment in the area of Chatham-Kent, located in the south-eastern part of the province.
The casino in question is to be built by one of the biggest gambling companies in Western Canada, the Gateway Casinos and Entertainment Limited and is planned as a part of the company’s Cascades brand of gambling venues. Gateway plan on building their casino on a piece of land, acquired from the local Brad Lea Meadows in the city of Chatham.
Plans for the construction of the casino were announced last week and caused a wave of concern among the local population. One of the biggest concerns had to do with gambling addiction and more specifically whether there will be enough problem gambling counsellors to support a new gambling venue in the area.
Shawn Rumble who occupies the position of a coordinator of the problem gambling program at the Hotel Dieu Grace Healthcare in Windsor, Ontario, previously expressed fears that the number of counsellors on problem gambling will not suffice. In fact, there are only two certified counsellors working for the Chatham-Kent Health Alliance (CKHA), he commented in front of the local media. According to Mr. Rumble, potential problem gamblers in the area will not benefit from a twelve-step program, either.
The coordinator of the program explained that Windsor’s Hotel Dieu Grace Healthcare is sometimes visited by problem gamblers who come all the way from Chatham in order to pursue treatment. Seven Chatham residents have visited the treatment program in Windsor during the previous year, with an increasing number of people seeking treatment for their gambling problem. As many as 1,100 people have resorted to the program to treat their gambling addiction for the past eleven years.
Mr. Rumble was also surprised by the fact the announcement of the plans for the new casino was made in March, which is Gambling Awareness Month in the United States. He also turned to the Local Health Integration Network with an appeal for them to provide the extra funding that is necessary to hire additional qualified counsellors in Chatham.
Gambling Addiction Rates Have Dropped over the Past 20 Years
Such concerns are exaggerated according to representatives of the Ontario Lottery and Gaming Commission who addressed this subject, explaining the rates of gambling addiction in the Ontario province have been decreasing over the past 20 years. Tony Bitonti spoke on behalf of the OLG, claiming Ontario boasts the best-funded program for responsible gambling not only on the territory of Canada but in North America as a whole.
Mr. Bitonti also noted that Ontario poured as much as CA$19 million into various programs for responsible gambling throughout the province. The additional amount of CA$38 million was spent on the funding of different programs with the Ministry of Health and Long-Term Care. The programs in question all had to do with gambling addiction treatment, prevention, and research.
Mr. Bitonti concluded by assuring there will be no shortage of problem gambling counsellors since the Ontario Lottery and Gaming Commission has established solid partnerships with counselling services in all communities where there are large gambling establishments.
The proposed Cascades-branded casino is yet to obtain the necessary approvals from the authorities and needs to complete the land acquisition of the site the venue will be built on. Construction on the proposed gambling establishment is likely to commence this spring.

Student Takes His Own Life after Losing Bet in Champions League Final

Football, or soccer as it is often referred to in Northern America, is one of the most popular sports in the world, especially when it comes to prestigious events such as the upcoming FIFA World Cup in Russia. The football tournament that dominated the world over the past weeks, however, was the UEFA Champions League and its highly anticipated final, which among others, has become the reason for a tragedy outside Europe. A young man in Tanzania has taken his own life after Liverpool’s loss to Real Madrid on Saturday.
The competition is organized by the Union of European Football Associations and involves the best top-division European clubs. It has become extremely popular, however, in many parts of the world and is generally known as the most prestigious tournament in the world of football. Just like other highly rated sports events, it is broadcast to millions of people and bookmakers take in millions of dollars in wagers. This, apparently, happened in Tanzania too during the Champions League, where betting on single sports events is regulated and legal. One punter, however, became so desperate after losing his bet on the final this weekend that he committed suicide, local media outlet report.
The young man, identified as Moses Mashaka was found dead on Sunday and according to the local police, he had hanged himself over losing a bet. The man was a student from Sinde ward in Mbeya Region, Tanzania, and he bet that English club Liverpool would win the final match of the Champions League. After Spain’s Real Madrid became this year’s champion, the young man realized he had lost his bet and hanged himself. The news was confirmed by Mbeya Regional Police Commander Musa Kaibu, who did not reveal the exact amount of money Mashaka lost over the game. It is also unclear whether the student took his life because his favourite club lost the most important match of the year, or because he lost a lot of money betting on the match.
Sports Betting Comes with Certain Risks
Most experts point out that sports betting comes with certain risks and many concerns have been raised in the past few weeks, following the U.S. Supreme Court’s decision to overrule the statewide ban on sports wagering. It is also important to consider all risks, as Canada is expected to follow suit sooner or later and introduce sports betting legislation on the federal level. And while many representatives of the Canadian gaming and betting industry urge the government to take steps to liberalize the market, others warn that betting on single sports events may come with dangers.
The potential profits in this industry certainly create more incentives for match fixing, but this is just one of the many issues associated with sports betting. As a form of gambling, it can also lead to addictions and compulsive behaviour. In this case, a young man has probably placed a huge bet on a match and once he lost, this caused him to lose a lot of money. Incidents such as this are, indeed, rare, but they indicate how dangerous extreme gambling behaviours can be.