[VIDEO] ‘It’ll Be a Short Night’: Krauthammer & Crew Reveal Their Final Predictions for Who Will Win the ElectionPosted: November 7, 2016
Katie DeLong reports: A 50-year-old Waterford man is accused of beating up his own uncle over a $3 pot during a card game called “(Expletive) On Your Neighbor.”
Back on January 10th, officials responded to the 29000 block of Elm Island Drive in Waterford for a report of an assault.
There, officials spoke with a 69-year-old man who advised he was playing cards when his nephew, Scott Labisch attacked him — kicking him in the ribs multiple times. An officer observed small cuts above the man’s right eye, and the man said his nose bled as a result of the attack.
The man was taken to the hospital for treatment. There, he was diagnosed with non-displaced fractures to the three ribs, according to the criminal complaint.
Officials spoke with another man who indicated people were at his home playing cards when Labisch “beat up” his uncle over approximately $3 that was in the pot during the game. Another person confirmed the assault. Read the rest of this entry »
Gambling Firms Aim to Raise Funds for Macau, Overseas Casino Operations
HONG KONG— For WSJ, Kate O’Keeffe & Yvonne Lee report: China’s international financial hub, located a quick ferry ride from the world’s casino capital, has seen a throng of gambling companies rush to its equity markets over the past year.
“The Asia gaming industry should be one of the fastest-growing sectors in the next decade.”
— CLSA analyst Aaron Fischer
Since July 2013, at least six casino and VIP gambling companies have unveiled plans to list in Hong Kong, often through so-called backdoor listings. These companies are either hoping to raise funds to expand abroad or to bolster business at home in Macau at a time when the enclave’s $45 billion gambling market is suffering its first revenue declines in five years.
Most recently, Nasdaq-listed Iao Kun Group Holdings Co. last month filed a formal listing application to go public “by introduction,” where no new funds are raised, hiring Rothschild (Hong Kong) Ltd. as its sponsor. The company is part of Macau’s junket industry, which brings high-spending gamblers from mainland China to Macau, issues them credit and collects players’ debts in exchange for commissions from casinos. Read the rest of this entry »
For WSJ, Jun Hongo reports: A group working under the Ministry of Health, Labor and Welfare estimates that some 5.36 million people in Japan, or 4.8% of the adult population, may have a pathological gambling problem.
“The report said Japan had higher percentage of pathological gamblers than other developed countries.”
A ministry-funded study of the issue was led by Susumu Higuchi of the Kurihama Medical and Addiction Center, a national medical institution. In a survey of 4,153 randomly chosen adults in July 2013, the group found 8.7% of men and 1.8% of women in Japan could be described as being addicted to gambling.
The report said Japan had higher percentage of pathological gamblers than other developed countries. Earlier studies showed lower numbers in Canada (0.9% in 2002), France (1.24% in 2008) and South Korea (0.8% in 2006), it said. Read the rest of this entry »
A. Barton Hinkle writes: Baptists do not abide drunkenness, which is why (it has been said) they never recognize one another in the liquor store. In much the same vein, Virginia will not abide gambling.
Gaming and the laying of odds, however, are another matter.
Gambling is a low and dirty act that starts in cupidity and ends in crime, bankruptcy and broken homes—or at least so say its foes, as they have been saying for centuries. As early as 1727, Virginia adopted the Statute of Anne—which rendered gambling debts unenforceable—and in 1744 the colony prohibited gambling in public places altogether.
Such attitudes linger today. Thirty-nine states have some form of casino gambling, but Virginia is not one of them, noted a Washington Post article a little while ago. The story quoted Richard Saslaw, the Democratic leader in the state Senate: “Forty-nine states will have it before we get it,” he said before adding, “maybe 48” — a nod to Utah’s Mormon ways. Small chance, then, that Sen. Louise Lucas’ proposal will win approval. She wants to introduce casino gambling to Hampton Roads.
Yet if gambling as an end in itself is an outrage against decency in the state’s eyes, then wagering as a means to other ends is something else altogether. Thus the state runs a hugely successful lottery. And like all those in the numbers racket, Virginia’s “house” fixes the odds in its own favor: Last year alone, the state raked in nearly half a billion from suckers who played its games of chance and lost.
But the official line denies that this constitutes gambling. It is, rather, government-provided “fun”—and it raises money for the schools! One hundred percent of the state’s proceeds go to Virginia’s K-12 education system, the lottery website notes. (It does not note that this transfer thereby frees up money for lawmakers to spend on other things.)
While other forms of gambling are useful, none offers the opportunity to develop real world skills like poker.
Matthew Rousu writes: Organizations that oppose gambling will often claim that gambling has no benefits. This isn’t true. Beyond the enjoyment we experience, many forms of gambling can teach useful skills. Blackjack, for example, teaches us about odds, variance, and money management. Placing bets on horse racing can also teach people an enormous amount on odds and probabilities, as betting on different horses offers different payouts for winning. Even those with limited mathematical backgrounds quickly learn that betting $5 on a horse with 14-1 odds will pay them back $70 for a win. Similar skills can be learned with sports betting.
While these and some other forms of gambling can provide some skill development, none offers the opportunity to develop real world skills like poker. It seems fitting that the most glamorous of all gambling games can teach us so much. After all, Mark Twain spoke eloquently about poker and it’s been played regularly in the Oval Office by many presidents. It is estimated that 70-80 million Americans play poker. While some play for low stakes and some play for high stakes, Americans love this game that combines instinct, mathematical ability, psychology, and luck.