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The Gambling Industry

The Gambling Industry. Michael Tarwater Rachel Templin. Overview. Gambling means “to play a game for money or property; to bet on an uncertain outcome to stake something on a contingency” Sports Betting has become a specialized field of gambling

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The Gambling Industry

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  1. The Gambling Industry Michael Tarwater Rachel Templin

  2. Overview • Gambling means “to play a game for money or property; to bet on an uncertain outcome to stake something on a contingency” • Sports Betting has become a specialized field of gambling • Gambling has a long history and includes many different forms

  3. Attributes of Gambling • Potential source of financial gain • Competitive aspect • Continuous availability • Can become addictive • Legal issues

  4. Competitive forces • Threat of Entry of New Competitors • Internet provided new opportunities for competition • Players can play from any location any time of day • Online gaming has brought about competition against traditional brick and mortar casinos

  5. Competitive Forces • Bargaining Power of Suppliers • Power has decreased since Internet • Bargaining Power of Customers • At an all time high • Customers can now pick and choose where and when to gamble

  6. Competitive forces • Threat of Substitute Products or Services • Internet is a source for substitutions for casinos and bookies • Other than online sites, no real source of substitutes • Rivalry Among Existing Firms in Industry • Internet has increased rivalry between online sites

  7. History • First lottery can be traced back to 200 B.C. in China • Biblical traces • Lotteries occurred in all of the original thirteen colonies • Several gambling scandals have helped give it a bad reputation

  8. Forms • Charitable Gambling • Bingo often used to help raise money • Pari-mutuel Waging • Horse and dog racing • Lotteries • Powerball and state lotteries • Casino Gaming • Slot machines and card games

  9. Sports betting • Popular in the United States • Purpose is to predict the winner of an event • Fixed-odds type • “Some analysts think it is the largest category of gambling after casino games” • Pools

  10. Locations in the united states • Ten states • Hot spots include: • Las Vegas, Nevada • Atlantic City, New Jersey • Tunica, Mississippi • Riverboats • Dockside • Excursion • Indian Reservations

  11. Sportsbook.com • Gaming technologies • System programming • Business applications • Security applications • Database applications

  12. Changes due to It • Improvements in the security of casinos • Almost all security today is digital • Track frequent player for a rewards program type of system • Harrah’s casino’s program is Total Rewards • Facial recognition software packages • Help to identify people that have been black booked

  13. Future • Security Measures – IP and MAC addresses • SecurID • Webcam Capabilities • RFID

  14. What we learned • History • Locations • Scandals • Transformation

  15. sources • Mish, Frederick C., ed. “Merriam-Webster’s Collegiate Dictionary: 10th Edition.” Merriam-Webster Incorporated, Springfield MA. 2001, p477 • US Gambling Law home page. 2 April 2008 http://www.gambling-law-us.com/ • Encyclopedia Britannica Article http://www.britannica.com/eb/print?tocID=255571&fullarticle=false • Introduction to Gambling, Chapter 1. California Government. 9 April 2008 http://www.library.ca.gov/crb/97/03/Chapt1.html

  16. More sources • History of Gambling, Chapter 2. California Government. 9 April 2008 http://www.library.ca.gov/crb/97/03/Chapt2.html • National Indian Gaming Commission homepage. 7 April 2008. http://www.nigc.gov/ • Shelley, Ron. The Lottery Encyclopedia. Byron Publishing Services; Rev. edition 1989 • Google News. 15 April 2008 http://afp.google.com/article/ALeqM5j-AZKyV09jPeEypj13mT02x00cMw

  17. Even more sources • Huen, Christopher. Harrah’s bets on IT to understand its Customers. 11 December 2000. Information Week. 7 April 2008 http://www.informationweek.com/816/rbharrahs.htm • Liebert, Mary Ann. http://www.liebertononline.com • PokerStars Home Page. 8 April 2008 http://www.pokerstars.com • Full Tilt Poker Home Page. 8 April 2008 <http://www.fulltiltpoker.com>

  18. Not to mention these sources • Sportsbook.com Home Page. 1 April 2008 http://www.sportsbook.com • http://en.wikipedia.org/wiki/Gambling • http://uscode.house.gov/download/pls/18C50.txt • http://thomas.loc.gov/cgi-bin/bdquery/z?109:HR4954:

  19. The end

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