Gambling
85-Year-Old Avoids Prison Sentence for Running Illegal Gambling Business
BOSTON (Associated Press) - Three Cape Cod men who pleaded guilty in 2011 to running an illegal gambling ring have avoided prison time.
Federal prosecutors say 86-year-old Adam Hart and 62-year-old William Neofotistos were sentenced to two years of probation, including six months of house arrest.
They were also fined $40,000 and $10,000, respectively.
Also, 34-year-old Timothy Reardon was sentenced to two years of probation and fined $3,000.
WSEX Founder Left Suicide Note: Hated Having to Stiff Customers
World Sports Exchange founder Steve Shillinger reportedly left a suicide note behind prior to taking a gun to his head last week.
Pathological Gambling Caused by Excessive Optimism
Compulsive gamblers suffer from an optimism bias that modifies their subjective representation of probability and affects their decisions in situations involving high-risk monetary wagers. This is the conclusion drawn by Jean-Claude Dreher's research team at the CNC (Centre de Neurosciences Cognitives, CNRS / Université Claude Bernard Lyon 1). These findings, published in the May print edition of Psychological Medicine, could help explain and anticipate certain individuals' vulnerability to gambling, and could lead to new therapeutic approaches.
Internet Gambling Bill in Illinois Would be Standalone
Whether this reduces the chances of passage remains to be seen but an Internet gambling measure in Illinois will now be presented as a standalone.
The measure was originally added to a much broader gambling expansion bill that Illinois Governor Pat Quinn as already shot down. He has stated that a more thorough review would be required before allowing Web gambling in the state, adding he was "not excited about it at all."
Hong Kong Police Arrest 4 in Hacking Death of Triad Boss: Disemboweled in Front of Many
Hong Kong police announced Monday the arrests of 4 individuals ages 18 through 30 for the brutal hacking death of alleged triad boss. Only the age (30) and surname (Tse) of the victime were disclosed.
The attack occurred outside a hospital in front of many onlookers. One of the strikes nearly disemboweled the victim.
Bally Reports Record 1st Quarter Profits
Bally Technologies, Inc. (BYI), a leader in slots, video machines, casino management, interactive applications, and networked and server-based systems for the global gaming industry, today announced record quarterly diluted earnings per share (“Diluted EPS”) of $0.93 and record quarterly revenue of $259 million for the three months ended March 31, 2013.
Canadian Government Caught Off Guard by Bitcoin Emergence
OTTAWA – (Canadian Press) - Canadians buying and selling an emerging digital currency are running afoul of established banks and operating in uncharted territory for financial regulators.
"The Canadian government doesn't know what a Bitcoin is, doesn't recognize the Bitcoin, and there's no regulatory agency that knows what a Bitcoin is," said Joseph David, the owner of VirtEx.
His Calgary-based website lets Canadians trade Bitcoins through an online market similar to a stock exchange. David said the two-year-old company facilitated $15 million in transactions this year.
Michigan Lottery to Come Online Despite Opposition
LANSING — (Associated Press) - The Michigan Lottery sees the Internet as its new frontier for business, where more tickets can be sold and games can be played to ultimately pump more money into public schools.
Some lawmakers fear increased gambling addiction, debt and a hit to brick-and-mortar stores participating in the lottery.
Everett Enters Into Agreement With Steve Wynn for Massachusetts Resort Casino
EVERETT, Mass. (Associated Press) — Las Vegas casino operator Steve Wynn would make $30 million in advance payments to the city of Everett and more than $25 million in annual payments once a proposed resort casino was open for business, under a host community agreement announced Thursday by Mayor Carlo DeMaria.
More Internet Cafe Raids Reveal Gambling, Drugs, Booze
CBS13 in Sacramento has uncovered what appears to be an illegal gambling business at a local Internet café.
From CBS13:
Legends Sports - Where is My Money: The Latest Account Transfer Information
Gambling911.com isn’t sure whether all Legends Sports customers received an email detailing the transfer of their accounts (keeping in mind that many emails from offshore gambling sites end up in one’s spam folder then go on to get lost). As many of you are finding the Gambling911.com website through search engines for terms related to Legends Sports, you’ll be happy to know we have the answer for you as to where your funds have gone.
Borgata Hotel Unveils Online Gambling Plans
Fast forward to 2024 and $3.23 billion had been generated over the past year from online casino gaming in the U.S. with New Jersey accounting for a cool $1.5 billion.
Equity Group Sports Betting Bill Clears Nevada Senate
A bill allowing private equity groups to place large wagers at Nevada sportsbooks has passed with a near unanimous vote on Tuesday. Senate Bill 346 will now head to the Assembly for a vote.
Z Capital Partners Files Investor Presentation for Affinity Gaming Board
LAKE FOREST, Ill. -- Z Capital Partners, L.L.C. ("Z Capital"), a Chicago-based private equity firm and the largest shareholder in Affinity Gaming (the "Company" or "Affinity"), with over 30% of outstanding shares, today filed an investor presentation supporting its nomination of two highly qualified, independent candidates to the Affinity Gaming Board.
Schillinger had Questionable Past: Was Fugitive Right Up to ‘Suicide’
World Sports Exchange founder Steve Schillinger came under fire early on in his offshore gambling days. This past weekend, one of online gambling’s pioneers was found dead in his Antigua condo, shot in the head, in a story first broken by Gambling911.com on Monday morning.
888.com Expects Big Dividends From Online Poker in US by 2015
LONDON - (Reuters) - Gambling company 888 Holdings Plc expects to launch online poker in Nevada this summer and should start to see the full effects of more open U.S. markets from 2015.
Nevada, home to gambling centre Las Vegas, granted the London-listed company a licence last month and 888 is also seeking clearance to operate in New Jersey, another state where a ban on Internet betting is being lifted.
Will BuddyBet be the Next Social Online Gambling Phenom
Social gambling website BuddyBet has secured $3 million in funding from private investors.
BuddyBet lets buddies play against one another as opposed to playing against the actual website or a bookmaker. The site itself focuses exclusively on sports betting but will move into other sectors in the coming months.
VentureBeat.com explains the BuddyBet concept:
Colorful Characters Emerge in High Stakes Poker Case With Russian Mob Ties
NEW YORK — (Associated Press) - It’s a case teeming with colorful characters: a reputed Russian mob boss once accused in an Olympic scandal, a wealthy art world impresario who hung out with Leonardo DiCaprio and a woman named Molly Bloom who gained a celebrity following by hosting them at high-stakes poker games.
Foul Play Not Ruled Out in Shooting Death of WSEX.com Founder Steve Schillinger
Homicide detectives on the Caribbean island of Antigua have not ruled out homicide in the shooting death of World Sports Exchange (WSEX.com) founder Steve Schillinger.
The 60-year-old businessman was found dead in his Darkroom Beach condominium late Friday. He had been shot in the head with a .380 pistol.
Foxwoods Inks Deal With GameAccount
Foxwoods parent company, the Mashantucket Pequot Tribal Nation, has inked a partnership deal with GameAccount Network as a means of pursuing legalized online gambling in the US.
Initially, the site will offer play-for-fun Web gambling. Other operators could ultimately join the Foxwoods network.
Bet365 Named in Affidavits Tied to Criminal Complaint
Bet365 was recently mentioned in the affidavits supporting a criminal complaint filed against two individuals in the United States District Court for the Northern District of New York who are accused of money laundering connected with an Internet gambling operation. Bet365 was not named as a defendant, but the question remains; can a non-U.S. facing site be at risk for prosecution as a result of customers who obtain access to their sites through masked IP addresses?
Legends Sports Defendant Spiros Athanas Helped Police Solve Brutal Murder
A man indicted for his alleged role in a massive sports betting ring actually helped US authorities capture a vicious killer, Gambling911.com can reveal.
WSEX Founder Shoots Self in Head: Commits Suicide
World Sports Exchange founder Steve Shillinger killed himself late Saturday, it was learned by Gambling911.com.
The company he founded was forced to shut down this past week as it was insolvent.
Shillinger shot himself in the head.
It was not immediately clear if the other two founders of WSEX.com, Hayden Ware and Jay Cohen, still had access to player funds.
The Legends Sports WagerWeb Bailout Explained
A number of Gambling911.com readers have inquired as to the nature of a 5-time rollover requirement in order to withdraw funds from their Legends Sports betting accounts, which are now in the process of being transferred over to WagerWeb. Good news, WagerWeb has informed Gambling911 that the rollver requirement is now 5 times (not 10).
BetOnline Now Offering Skill Games: Online Dominoes, Yahtzee, Spades, More
BetOnline announced Saturday it will begin offering skill games as part of its extensive online gaming platform.
WagerWeb Takes Over Legends Sports Accounts: 5 X Rollover Required
Not exactly the most attractive deal in the world but WagerWeb.com is a good book and the situation could be far worse all things considered. They have informed Gambling911.com that the rollover requirement for the Legends bailout is 5 x as opposed to the previously reported 10 x. Good news for Legends customers indeed.
World Sports Exchange Finally Shuts Its Doors: Sinisterly Apologies
After years of slow pays and no pays, one of the first online gambling websites has unceremoniously shut its doors.
World Sports Exchange is officially dead following 17 years in business.
Philadelphia La Cosa Nostra Capo Anthony Staino Pleads Guilty to Racketeering, Gambling
Anthony Staino, 55, of Swedesboro, N.J., pleaded guilty yesterday to participating in a racketeering conspiracy as a capo in the Philadelphia La Cosa Nostra (LCN) Family and committing loan sharking and illegal gambling.
Caesars Interactive Entertainment Seeks New Jersey Online Gambling License
Caesars Interactive Entertainment is the latest company to apply for an online gambling license in the state of New Jersey.
Caesars Entertainment operates the World Series of Poker and currently holds an Internet poker license in Nevada. But the Silver State only has around 3 million people living there compared to New Jersey’s nearly 9 million along with the other couple million just across both rivers in New York City and Philadelphia. New Jersey will permit anyone to access licensed online gambling sites provided they are physically located inside the state.
Producer of Showtime’s ‘Ray Donovan’ Denies Wrongdoing in FBI Poker Sting
Bryan Zuriff, an Executive Producer for the upcoming Showtime drama “Ray Donovan” has denied any wrongdoing in connection to an FBI probe of high stake poker games and sports betting with ties to the Russian Mafia.
