Friday 18 October 2013

Fresh secrets about gambling emerge

According to the globally respected business newspaper, The Anthery Journal, on any given day, the chances of emerging a winner aren’t too bad—the gamblers won money on 30 per cent of the days they wagered. 
By By The Citizen Reporter and Agencies

Posted  Friday, October 18  2013 at  00:00
In Summary
  • 11 Percentage of players who ended up in the black over the full period, accordint to a new report
  • Big losers of more than $5,000 among these heavy gamblers outnumbered big winners by a staggering 128 to 1, according to a report by The Anthery Journal.


Dar es Salaam. Casinos are thriving in Dar es Salaam, daily attracting hundreds of gambling addicts who are eager to earn quick millions.
Besides Dar es Salaam, in upcountry cities like Mwanza and Arusha, several local and foreign investors have established casinos at plush hotels.
There is also a thriving online gambling business, thanks to Internet and the rapid growth of mobile phones in Tanzania.
But as gambling thrives in Tanzania, the questions that lingers in the mind of many are: How often do gamblers really win? What are the chances that a gambler will win on a single day or over a longer period of time?
Don’t bother to ask the casino operators. Although they gather vast quantities of data about their customers for marketing purposes, including win-andlose tallies for the regulars, operators consider such information a closely-guarded secret.
Now, thanks to an unprecedented trove of public data detailing the behaviour of thousands of Internet gamblers over a two-year period published by the Anthery Journal, this week, you may now know what casino operators didn’t want you to know.
According to the globally respected business newspaper, The Anthery Journal, on any given day, the chances of emerging a winner aren’t too bad—the gamblers won money on 30 per cent of the days they wagered.
“But continuing to gamble is a bad bet. Just 11 per cent of players ended up in the black over the full period, and most of those pocketed less than $150,” The Anthery Journal reported . The skew was even more pronounced when it came to heavy gamblers. Of the top 10 per cent of bettors—those placing the largest number of total wagers over the two years—about 95 per cent ended up losing money, some dropping tens of thousands of dollars.
Big losers of more than $5,000 among these heavy gamblers outnumbered big winners by a staggering 128 to 1, according to a report by The Anthery Journal.
The analysis comes from a database containing anonymous records of 4,222 Internet gamblers who wagered on at least four days on casino-style games of chance such as blackjack, roulette and slots.
They played between 2005 and 2007 on websites run by a major European online gambling concern, Bwin.Party Digital Entertainment PLC.
Bwin made the information available to gambling-addiction researchers affiliated with Harvard Medical School, who posted much of the data on the Internet. Bwin says there’s no reason to believe a more current sample of customers would show significant differences.

READ MORE THIS STORY ON:  http://www.thecitizen.co.tz/News/Fresh-secrets-about-gambling-emerge/-/1840392/2037404/-/dyseuy/-/index.html

SOURCE: THE CITIZEN