Online Gambling Profits

1. Online Casino Profits
2. Sports Profit System Online Scam
3. Online Gambling Pros

1. 04, 2021 (GLOBE NEWSWIRE) - Online Gambling Market Overview 2020 was a game-changing year online gambling market, mainly due to the online gaming & gambling legalization in the US.
2. For many of us, gambling means buying the occasional lottery ticket on the way home from work, but the Internal Revenue Service says that casual gambling also includes raffles, casino games, poker, sports betting—and, yes, even fantasy football. When you win, your.

Online Casino Profits, poker c3303i, tobacco road casino, how to play king pulsar slot on pc. The answer is yes, but the good thing about gambling tax law for big winners is that, unlike income taxes, gambling taxes are not progressive. Whether you win $1,500 at the slot machine or $1.

Gambling is a 400 billion dollar industry. This means there are 400 billion dollars on the table to grab, placed by punters and bettors worldwide. That is the gambling pie. Now, grab a spoon and read how you can take a bite.

First, let’s say a few words about how the big guys work in this business.

The gambling industry is mostly made up of sports betting operators, casinos and poker rooms. These are the industry’s big winners, due to how games are stacked against players. Bookmakers make money due to vig, casinos are guaranteed to profit due to the house edge and poker rooms receive rake from every pot.

If you want to win big and constantly, you need to start a gambling business. No other way around. You cannot take a bigger cut of the gambling pie unless you are one of these companies. Even the most successful poker players and sports bettors cannot compete them in profitability.

Yet, these businesses are not one-man shows. Plenty of people work in the gambling venues, from dealers and odds compilers to marketers and public relations staff. They are real businesses with business plans that guarantee them a profit for offering a service to the public. That service is entertainment. Because that is what gambling is.

Entertainment.

For all that people to work and get paid their salaries, gambling companies need big cheques and margins. Otherwise, their business isn’t sustainable.

There are two ways to accomplish that: by either having bigger-than-average profit margins or increasing their turnover. Usually, brand new gambling companies go for the former. As they build up their customer base, they reduce their margins to attract more turnover and compete with the big guys. By the time a gambling operator generates sufficient revenue and net profit every year, their business is safe, as long as they don’t fall behind to competition.

Then, it’s a matter of how many more gamblers find their service attractive. The more they do, the bigger the cut for the company.

Either way, gambling companies are after punters’ money. Those 300 billion dollars. Gamblers are feeding the whole gambling industry. Even in poker where at first glance whales (wealthy bad players) lose to better, regular players. Note “regulars”. Eventually, those regulars will keep playing, paying rake on a daily basis, giving a portion of their winnings back to the poker room.

So, here’s how to stop feeding the gambling industry.

Stop gambling!

If you have been gambling, stop. Unless you are a winner, you need to stop. And since you are reading these lines, you have been losing money. So, stop losing money!

So simple.

Now that your bankroll stopped depleting, it’s time to understand the ins and outs of the gambling industry. That is known as the iGaming industry if you are gambling online.

In gambling, someone has an edge. It’s either you or the man on the other side of the betting line. That usually is the house, standing for bookmakers and casinos. That edge is either predetermined (think of roulette, where you are paid 35-to-1 on a 37-number wheel) or fluctuating (think of betting odds that move up or down).

The best way to comprehend the edge is a coin toss.

Imagine you bet on a coin flip, at less than even odds. No matter your choice of heads or tails, you are going to lose money, in the long run. You are betting on a 50-50 chance but only get paid less than double your money on each coin flip! Depending on how much less you are getting paid, your bankroll will withstand a certain amount of bets.

So, if I’m offering you 1.90 (decimal odds) for each coin flip, your money will end up in my pockets after 200-300 coin flips. That’s how you have been feeding the gambling industry. And that’s what the house edge is all about.

But how do I know how big is your bankroll?

Risk management in gambling

Before you even think of beating the casinos or the bookies, you must understand risk management. Also known as bankroll or capital management, risk management will be the decisive factor in your success. No matter how much edge you gain over the gambling companies, bad risk management will make your betting bankroll evaporate.

If you are going to remember one thing from this article, note this:

Always risk maximum 1% of your gambling capital.

That’s easy to remember, right? Set aside a specific amount of money for your gambling habit and split it into 100 parts. No matter your gambling medium, you should risk no more than one part on each bet you are placing.

That’s pretty much it!

That would also get you in a safe distance from disastrous staking plans, like martingale systems. When the time comes, you’ll move up to more advanced staking strategies than flat betting, such as the Kelly staking plan. Until then though, stick to risking 1 per cent of your bankroll and you’ll be fine.

Remember that this rule applies to small and big bankrolls alike! So, your bankroll’s size doesn’t matter when it comes to risk. Size only determines how much money you will make or lose in currency terms.

Find a gambling system

Now comes the really tedious task of creating a profitable gambling strategy. Finding an edge in the market isn’t easy, I’ll tell you that. If it were that easy, and given the simple risk management rule I explained, everyone would be a winner. But you already know that only 5% or so of gamblers can make it pay.

In order for you to make money, someone has to lose. It’s a zero-sum game, where gambling operators also get their cut. Thus, we need to exploit the market, looking for leaks and biases, like the favorite-longshot bias . The average gambler follows specific betting patterns. You mustn’t do the same. Always do something different, always think different.

Be the first to … or be the best in exploiting a known fallacy.

Oh, and if you do, don’t let the world know unless you are after fame and reputation. Otherwise, your edge will diminish as more people will imitate you, and market finds its new balance.

Finally, don’t worry if your first betting system fails!

Be disciplined, stay on your toes and avoid burnout

So, by now you should have a viable system and know how much to bet on the next game. You are on your way to becoming one of the elite professional gamblers. What can go wrong?

First, you may not be disciplined enough to follow your own rules! Wouldn’t it be pity to lose money, after all that research and study? Yet, even reputable and notable sharp bettors may lose their discipline after a long losing streak.

Don’t be that guy.

Trust your proven strategy, stick to your risk management plan and always be prepared for variance. Embrace the drawdown and never question yourself at tough times, as long as you are doing everything by the book.

By the time you experience several months or years of successful gambling, there’s a big chance you feel… bored! Yes, believe it or not, no matter how much money you are making, doing the same, dull thing every single day, will get you bored. At first, making money from gambling seems like a dream. But like in every other business, routine will take the pleasure away.

Find the missed fun, by exploiting new markets, trying something new or improve your methods.

Finally, burnout is a serious hazard in all kinds of successful gambling. Take breaks, go on holidays, and enjoy your profits and hard work. Don’t let gambling consume you, no matter how big you are winning.

Enjoy life, because in the end, isn’t that the meaning of living?

Let’s not hurry things up though. Most probably, you’re having a difficult time to break even to say the least. Winning in the long run seems too far away at the moment. Don’t despair. Stop gambling your money away, find an edge, forward test your system in paper and when you feel ready, do not risk more than 1% of your bankroll. I am sure, we’ll be hearing from you soon!

Below, you can find the five most recent articles I wrote about gambling.

Online Casino Profits

Gambling is an activity undertaken by many Australians. Over 80% of Australian adults engage in gambling of some kind, which is the highest rate of gambling in the world.^[1] This number includes some 4% of the adult population who play the pokies once a week, accounting for some 62% of locals' annual gambling spend.^[2]

Gambling is a significant public health issue, with around 80,000 to 160,000 (or 0.5 - 1.0%) of Australian adults experiencing significant problems from gambling and a further 250,000 to 350,000 (or 1.4 - 2.1% of adults) experiencing moderate risks that may make them vulnerable to problem gambling.^[3]

Revenue

In 2015–16, gambling revenue made up 7.7% of state and territory taxation revenue. The rate was lowest in Western Australia (2.5%) and highest in the Northern Territory (12.0%). Gambling revenue made up 2.5% of total state revenue when other revenue sources were taken into account. The rate was lowest in WA (0.9%) and highest in Victoria (3.2%). Gambling revenue as a portion of state taxation revenue has fallen for all states and territories between 2006–07 and 2015–16.^[4]

Total Australian gambling revenue in 2008-09 was just over $19 billion and the share of household consumption was 3.1%^[3]

New South Wales

New South Wales has a long history of gambling; Australia's first official horse racing meeting occurred in 1810 at Hyde Park in Sydney; the first official Australian lottery occurred in 1881 at the Sydney Cup; and registered clubs operated the first legal poker machines in Australia from 1956.^[5]

Approximately 95,800 of 'pokies' are in NSW, a state total beaten only by Nevada, which operated 181,109 gambling machines in 2014.^[6]

Between 1 December 2017 to 31 May 2018 NSW Clubs made a net profit of $1,945,161,625 and hotels made a net profit of $1,169,040,731 from pokies alone.^[7]

Fairfield

Fairfield had the highest poker machine revenue in the state for 2013, generating $298 million in clubs and $93 million in pubs, from the start of the year to August.^[8] This figure is $123 million greater than the combined total of profits generated from poker machines in the City of Sydney.^[8]

Hunter Region

From January to March 2013 poker machines in the Hunter region had a turn over of $4.5 billion, showing an increase of $500 million since 2010.^[9] Daily figures show a spend of $12.5 million, working out to be $8682 per minute.^[9] The Office of Liquor Gaming and Racing found that Newcastle was the Hunter Regions most profitable location with the 3206 poker machines averaging $44,963 each.^[9]The top five most profitable clubs for gaming revenue in the Hunter region in 2010 were:^[10]

• 1. Western Suburbs Leagues Club (Wests), New Lambton
• 2. Wests (formerly Club Phoenix), Mayfield
• 3. Wallsend RSL & Community Club, Wallsend
• 4. Belmont 16 Foot Sailing Club, Belmont
• 5. Cardiff Panthers, Cardiff

The top five most profitable hotels for gaming revenue in the Hunter region in 2010 were.^[10]

• 1. The George Tavern, East Maitland
• 2. Bay Hotel Motel, Bonnells Bay
• 3. Hotel Jesmond, Jesmond
• 4. The Lake Macquarie Tavern, Mount Hutton
• 5. Warners Bay Hotel, Warners Bay

Central Coast Region

According to the latest figures from Liquor and Gaming NSW there are 4,046 poker machines in 39 clubs on the Central Coast, and 626 poker machines in 29 hotels; making a total of 4,672 poker machines on the Central Coast. That means 2.37% of the total number of poker machines in Australia are on the NSW Central Coast.^[11]

Gosford has approximately 1928 pokies, spread across 37 venues. That is the equivalent of one poker machine for every 71 adults. In 2010–11, venues in Gosford made approximately $95,865,000 in profit from pokies. That equates to $700 for each adult member of Gosford's population.^[12]

Wyong has approximately 2608 pokies, spread across 35 venues. That is the equivalent of one poker machine for every 47 adults. In 2010–11, venues in Wyong made approximately $123,159,000 in profit from pokies. That equates to $1,000 for each adult member of Wyong's population.^[12]

The Central Coast has a higher prevalence of problem gambling than the NSW average. Young men between the ages of 18-24 living on the Central Coast are the biggest players of poker machines in NSW and are the highest risk group for problem gambling.^[13]

In 2008 Central Coast Gambling Help carried out a survey of 200 young people aged from 13-24 and found:

• 96% of people from 18-24 had gambled for money or possessions
• 62% of those under 14 years old and 77% of those aged up to 17 had gambled for money or items, including mobile phones and MP3 players
• 25.5% of 14- to 17-year-olds and 55% of 18- to 24-year-olds had lost more than they had intended
• and 6% under 18 had played a poker machine^[14]

Regulatory authorities

Since the introduction of new gambling services, including online gambling, the Commonwealth has taken a more active role in the regulation of gambling, but the Australian gambling industry is also regulated by State and Territory authorities:^[15]

• Australian Capital Territory - ACT Gambling and Racing Commission
• New South Wales - New South Wales Office of Liquor, Gaming and Racing
• Northern Territory - Licensing Commission
• Queensland - Office of Liquor and Gaming Regulation
• South Australia - Independent Gambling Authority
• Tasmania - Tasmanian Gaming Commission
• Victoria - Victorian Commission for Gambling and Liquor Regulation
• Western Australia - Department of Racing, Gaming and Liquor

Sports Profit System Online Scam

Key legislation

Traditionally gambling has been legislated at a state and territory level rather than by the Commonwealth:^[16]

• Australian Capital Territory
  • Betting (ACTTAB Limited) Act 1964
  • Casino Control Act 2006
  • Gaming Machine Act 2004
  • Interactive Gambling Act 1998
  • Lotteries Act 1964
  • Pool Betting Act 1964
  • Race and Sports Bookmaking Act 2001
  • Racing Act 1999
  • Unlawful Gambling
• New South Wales
  • Betting Tax Act 2001
  • Casino Control Act 1992
  • Charitable Fundraising Act 1991
  • Gambling (Two-Up) Act 1998
  • Gaming and Liquor Administration Act 2007
  • Gaming Machines Act 2001
  • Gaming Machines Tax Act 2001
  • Liquor Act 2007
  • Lotteries and Art Unions Act 1901
  • Public Lotteries Act 1996
  • Racing Administration Act 1998
  • Registered Clubs Act 1976
  • Totalizator Act 1997
  • Unlawful Gambling Act 1998.
• Northern Territory
  • Gaming Control Act 2005;
  • Gaming Machine Act 2005;
  • Northern Territory Licensing Commission Act 2001;
  • Racing and Betting Act 2004;
  • Soccer Football Pools Act 2004;
  • Totalisator Licensing and Regulation Act 2004; and
  • Unlawful Betting Act 2004.
• Queensland
  • Brisbane Casino Agreement Act 1992
  • Breakwater Island Casino Agreement Act 1984
  • Cairns Casino Agreement Act 1993
  • Casino Control Act 1982
  • Charitable and Non-Profit Gaming Act 1999
  • Gaming Machine Act 1991
  • Interactive Gambling (Player Protection) Act 1998
  • Jupiters Casino Agreement Act 1983
  • Keno Act 1996
  • Lotteries Act 1997
  • Wagering Act 1998.
• South Australia
  • Authorised Betting Operations Act 2000
  • Casino Act 1997
  • Gaming Machines Act 1992
  • Lottery and Gaming Act 1936
  • State Lotteries Act 1966
• Tasmania
  • Gaming Control Act 1993
  • TT-Line Gaming Act 1993
• Victoria
  • Casino control Act
  • Casino (Management Agreement) Act 1993
  • Gambling Regulation Act 2003.
• Western Australia
  • Betting Control Act 1954
  • Bookmakers Betting Levy Act 1954
  • Casino (Burswood Island) Agreement Act 1985
  • Casino Control Act 1984
  • Gaming and Betting (Contracts and Securities) Act 1985
  • Gaming and Wagering Commission Act 1987
  • Gaming and Wagering Commission (Continuing Lotteries Levy) Act 2000
  • Racing and Wagering Western Australia Act 2003
  • Racing and Wagering Western Australia Tax Act 2003
  • Racing Restriction Act 2003
  • Racing Bets Levy Act 2009

Online gambling

The Interactive Gambling Act (2001) was passed by the Australian Commonwealth Parliament on 28 June 2001.^[17] It received assent on 11 July 2001^[18]

The Act is targeted at online gambling operators, making it an offense for them to offer 'real-money' online interactive gambling to residents of Australia. It also makes it illegal for online gambling operators to advertise 'real-money' interactive gambling services (such as online poker and casino) to Australian citizens.^[17]That being said, the amount spent on online gaming by Australians reached some $800 million by 2010, according to the official 2010 Productivity Report of the Australian Government.^[2]

Accessing and using the interactive gambling services is not an offence. It is also allowed to companies based in Australia to offer their gambling services to gamblers located outside Australia with the exception of those countries that were called 'designated countries'.^[19]

Taxation laws on gambling in Australia

Gamblers' winnings in Australia are not taxed. There are 3 main reasons for that:

• Gambling is not considered a profession, it's treated as a hobby or recreational activity.
• The Australian government views gains from gambling activities not as income, but as a result of good luck. Even if someone wins big, they also lose a lot in other gambling sessions.
• The government taxes gambling operators instead.^[20][21]

Online Gambling Pros

Taxation of gambling operators in Australia differs from state to state and different gambling services are taxed in a different way. There are taxes on the turnover, on player loss and net profit. As gambling operators need to obtain a license to offer their services, certain fees must also be paid at this stage of gambling business development.^[22]

The use of different tax rates and tax bases makes it difficult to compare taxes across states. For example, the ACT's keno tax rate of 2.53% of turnover is equivalent to a tax rate on gross profits of 10.12%.^[23]

Tax rates (2015–16)^[24]

See also

References

1. ^Bryant, Nick 'Australia in thrall of gambling mania', BBC, 30 January 2007
2. ^ ^abAustralian Gambling Habits
3. ^ ^abProductivity, Commission. 'Productivity Commission Inquiry Report'. pc.gov.au/. Australian Government. Retrieved 22 January 2015.
4. ^Fourth social and economic impact study of gambling in Tasmania (2017), Volume 1: Industry trends and impacts(PDF). ACIL Allen Consulting. pp. 57–60. Retrieved 17 January 2018.
5. ^Australian Institute of Gambling Research. 'Australian Gambling Comparative History and Analysis'(PDF). www.vcgr.vic.gov.au. Victorian Casino and Gaming Authority. Retrieved 29 January 2015.
6. ^Ziolkowski, S. 'The World Count of Gaming Machines 2013'(PDF). www.gamingta.com. The Gaming Technologies Association. Retrieved 29 January 2015.
7. ^McNally, Caroline. 'Gambling in Australia'. problemgambling.net.au. Central Coast Gambling Help.
8. ^ ^abNeedham, Kristy. 'Punters in west pile money in pokies', 'The Sydney Morning Herald', Australia, 23 March 2014. Retrieved on 10 September 2014.
9. ^ ^abcPage, Donna. 'Hunter punters blow $8682 a minute on pokies', 'Newcastle Herald', Australia, 4 October 2013. Retrieved on 9 September 2014.
10. ^ ^abPage, Donna.'How the Hunter gambled $4bn', 'Newcastle Herald', Australia, 26 July 2010. Retrieved on 9 September 2014.
11. ^Office of Liquor and gambin NSW 2018 https://www.liquorandgaming.nsw.gov.au/resources/gaming-machine-data
12. ^ ^abMarkham, Francis. 'Who wins big from gambling in Australia'. theconversation.com. The Conversation. Retrieved 29 January 2015.
13. ^ACNielsen. 'Prevalence of Gambling and Problem Gambling in NSW – A Community Survey 2006'. www.olgr.nsw.gov.au. NSW Office of Liquor, Gaming and Racing. Retrieved 29 January 2015.
14. ^McNally, Caroline. 'Gambling in Australia'. problemgambling.net.au. Central Coast Gambling Help. Retrieved 29 January 2015.
15. ^Parliament Library: Gambling Policy and Regulation
16. ^Australian Gambling Statistics, 1986-87 and 2011-12, 29th Edition, 2004, p. 7.
17. ^ ^abInteractive Gambling Act Receives Assent
18. ^Interactive Gambling Act 2001: Compilation
19. ^Review of the Interactive Gaming Act 2001
20. ^Australia’s future tax system - Report to the Treasurer 2009^{[permanent dead link]}
21. ^Australian Gambling laws: Taxes
22. ^ ^ab'Australian Gaming Council: Gamblng Taxes'(PDF). Archived from the original(PDF) on 22 March 2012. Retrieved 3 November 2011.
23. ^Joint Select Committee on Future Gaming Markets: Final Report. Parliament of Tasmania. p. 146. Retrieved 11 January 2018.
24. ^Joint Select Committee on Future Gaming Markets: Final Report. Parliament of Tasmania. pp. Tables 6–10. Retrieved 11 January 2018.