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Making Gambling a Less Risky Business

LAS VEGAS - USA - Gambling does come with risks, however everyone knows, you have to be in the game - to win the game. This perpetual hope is what keeps the gamblers and gambling business owners flocking to casinos every time.

Who would have predicted that gambling would be as popular as it is today here in the UK? But it’s not only hot-trending on our shores. In the USA, with the recent decision by the State Justice system to overturn the national banning of online gambling, individual states can now set their own policies, and this has led to a boom in betting over the internet.

In New York State for example (which is one of the eight states to have already passed legislation legalising it); the gambling industry has become the fastest growing job sector of any industry. It won’t be long before casinos are legally able to offer online sports betting.

Who would have bet on that 12 months ago? Who could have bet on that 12 months ago? Certainly not the Yanks – leastwise not legally on the web.

Calling all potential punters

Industries can’t afford to stand still, and in order to keep the number of new gamblers flocking in, lots of online casinos and websites now offer potential new punters a free bet package when they join up. Nothing, of course, is ever truly free, and such offers are intended to give those new to online gambling the flavour of the excitement.

The enormous recent growth of betting on the internet is down to the success of the World Wide Web, increased accessibility and the explosion of social media. Now, you can crow about your winnings, or cry about your losses, to the world at large, and lots of friends do just that, sharing their pain and celebrating their gain.

The house usually wins

Everyone knows that the house always wins, right? Okay, the odd punter does buck the trend and sometimes wins big. That, when all is said and done, is what attracts the hopefuls. It’s a bit like playing the National Lottery.

The odds of winning the big lottery payouts (and these payouts exist in online casinos and betting sites too) are enormously stacked against the player. According to an article published sometime ago in the Independent, you stand more chance of being crushed by a meteor than winning the Lotto draw. There’s a comforting thought.

But does that stop us buying that lottery ticket? No siree. We humans like to live in hope, no matter what the odds. So, we bow down to the motto that you have to be in it to win it, right?

Keep the customer satisfied

Like any growth industry, you must keep the punters happy, and the best way of doing that is to introduce new, exciting products. In the Gaming Industry, they have done this, first by introducing mobile betting, and secondly by recently bringing in something called “in-play” or live betting, and linking it to live sporting events.

Once-upon-a-time, after you had handed over your money, that was it. Nine times out of ten you could watch your horse in the last leg of your accumulator, trail around the track ruefully chasing the others, or see your team go two nil down and wallow in the misery of your wasted cash. But not anymore.

In-play or live betting

Things have changed. Today, if you place an “in-play” bet after the event has started and while the action is still playing out; you can alter your bet.
What’s more, you can do this any number of times as the action continues. It means that you don’t have to be a “clever Dick” and place your bet before the action has started. There seldom is a “sure thing.”

You can instead be a “smart Alec” and wait until the action has begun; get a feel for how things are progressing before placing your bet. If things change, you can change your bet accordingly.

Gambling is a risk thing

If it all sounds to be good to be true, it probably is. You can’t take the risk away entirely, and if you did it wouldn’t be gambling would it? There would be no fun. But what you can do is to lessen the probability of losing.

In-play betting increases your chances of winning, but you don’t get anything for nothing, so the odds are adjusted downwards accordingly. But when all is said and done, you wouldn’t expect bookies to be benevolent uncles, now would you?

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