Monthly Archives: May 2012

New Research Shows That Gambling Isn’t Really An Addiction

Gambling

There is always alot of hype in the media regarding gambling addiction and problem gambling, and this has often been the reason that many US politicians have used for not legalising online gambling when it is quite obvious that they are more concerned about lost tax dollars to offshore based operations.

Nevertheless, many have asked the question, “Is gambling really an addiction? ” and it seems that Australian researchers have the answer. According to academic researchers at the University of Sydney’s Gambling Treatment Clinic gambling is not the addiction it has long been believed to be and what’s more they have a better treatment for it than ever before.

In a recent press release Dr Fadi Anjoul, Education and Training officer at the clinic who has worked with a treated so called “gambling addicts” for over 15 years stated that the idea of gambling addiction is widespread, but inaccurate. According to Dr Anjoul unlike drug and alcohol addiction with which gambling addiction is usually grouped, problem gamblers rarely display symptoms such as tolerance and withdrawal. Based on these facts, Dr Anjoul believes that gambling is better thought of as a misguided obsession rather than an addiction which means that those with problems are making habitual and poorly informed decisions rather than responding to a biological process that is beyond their control.

This distinct different holds important implications for treatment as badly informed decisions and behaviours can be modified with the help of cognitive therapy which enables those undergoing treatment to understand why they gamble, how they ended up in a problem gambling situation as well as how to alter their thinking towards their involvement in gambling.

After years of research, Dr Anjoul has developed an innovative method of cognitive therapy that has produced significantly improved results in comparison to traditional therapies rooted in disease and addiction models of gambling. Dr Anjoul believes that the reason for the difference in the success rate of his program in comparison to traditional therapies is due to the fact that traditional therapies focus on helping people to deal with their urges as they arise, leading to high relapse rates once therapy is terminated, but with his model people find that by the conclusion of treatment, gambling urges arise infrequently if at all.

Professor Alex Blaszczynski, head of the University’s School of Psychology and expert on problem gambling issues stated that the results achieved with the new cognitive therapy at the University’s Gambling Treatment Clinic were very exciting and although the program is in its infancy, better treatment outcomes and lower relapse rates than can be found anywhere else are very promising.

The psychology of gambling is a very fascinating subject, to read more here.

Closing Your Casino Player Account

Player Account Closed

Recently there has been a great deal of activity on the player forums regarding the closure of player accounts and how at some online casinos doing so seems like an impossible task.

One of the main culprits who are non-responsive to player’s requests to close accounts is Red Flush Casino. It seems that this casino is so desperate to keep players that request for account closure are met with bonus offers, which if you were a problem gambler could be detrimental to your financial and mental health.

These types of practices are not altogether uncommon though and many accredited casinos are slower at closing accounts than others. Then again there are some like Spin Palace Online Casino that will close your account upon request, no questions asked…it all depends where you choose to play.

But what should you do if you genuinely wish for a casino to close your account, especially for those that don’t just do this easily? Follow these few easy steps:

  1. Inform the casino in writing via e-mail of your wish to have your player account close, including your player details such as your name, last name, and player account number (they will never need your passwords so don’t supply these).
  2. Give a definite reason for wanting to close your account eg. You have a gambling addiction. Using reasons like “I am not winning enough” may not be enough for some casinos to take your request seriously.
  3. Follow up on your mail with a call to customer support to confirm in person that you wish to close your account and in order to verify that they have received your mail. Do not let friendly staff convince you to change your mind.
  4. If you are offered bonus offers in return, do not accept them.
  5. Do not attempt to login to your player account on a regular basis – online casino software tracks everything and player retention specialists may see your attempts to login as you wishing to withdraw your closure request.
  6. Uninstall the software from your PC, laptop or mobile device.

It is always advisable to search casino players’ forums and casino review sites like Bettingcorp.com in order to ascertain which casinos players are having problems with before you start playing as this can save you time and the inconvenience of having to deal with unresponsive online casinos.

Microgaming Sees Another Major Progressive Slot Hit

Major Millions Progressive Slot

On the 28th of April this year, after much anticipation, the famous Mega Moolah online progressive jackpot slot finally paid out at a whopping 1.3 million and just a few days later on the 5th of May the Major Millions Slots Jackpot was hit and paid out 1,800,600 to a very lucky player!

The last time Major Millions was won was on the 4th of January 2012 and paid out at just under the 1.8 million mark and in the whole of 2011 only paid out once to the value of just under 500,000 so it looks like 2012 is going to be a lucky year for this slot!

The Major Millions progressive slots jackpot is available in 3 different variations namely the original 3 reel slot version, the 5 reel and 15 payline video slot game and of course the Mega Spin slot. According to Microgaming the original 3 reel Major Millions slot is a player favourite.

In spite of there being 3 variants of this slot, the possibility to win the progressive jackpot prize remains the same across all versions, provided of course that you’re playing the maximum bet! Should you not be playing the maximum bet and see the jackpot winning combination land on your screen you will not be eligible for the jackpot prize, so always make sure you’re betting the maximum when playing progressives.

Since the hit, Major Millions has been reset to its usual 250,000 minimum but in just a few short days is already passing the 550,000 mark and Mega Moolah is already back to over 1 million!

When it comes to Progressive Jackpots, Microgaming pays out players in the currency in which they are playing, so for example, if you’re playing in Euro’s and happen to be lucky enough to hit the jackpot then you’ll be paid out in Euros.

Online Gambling Moguls Make Sunday Times Rich List

Sunday Times Rich List

The much anticipated UK Sunday Times annual “Rich List” profiling Britain and Ireland’s top 1000 wealthy people has been released. The 2012 list which was compiled by Philip Beresford is based on what is termed “identifiable wealth” including land, property, racehorses, art and of course shares in public companies. Due to the fact that bank balance information is not available in the public domain this factor has been omitted when compiling the list, so those featured on the list may in fact be considerably wealthier than reported on the list, but presumably this should not alter the rankings too significantly.

In addition to the main list, the Sunday Times also features categories and sub categories according to industry and even features an online gambling section within the digital and online industry. The fact that this section exists is a positive reflection on the country and can be attributed to the fact that the UK was one of the first nations to legalize and regulate online casinos and gambling.

When it comes to the featured names in online gambling, father and daughter duo Peter and Denise Coates, owners of Bet365 take top honours with a whopping £750 million fortune. What is truly amazing though is that this figure is up £250 million from 2011′s results, pretty much proving that they and Bet365 are in fact recession proof. In terms of the national list the Coates are featured in 90th place overall which is no small feat considering that their business is relatively new in comparison to brick and mortar business empires which have been around for generations.

In second place are Ruth Parason and Russ DeLeon, founders of the famous PartyGaming. Their estimated wealth stands at a massive combined worth of £733 million which is not far behind the Coates family, but this figure is down £99 million from their previous year figure.

Yet another duo occupies third place, namely the owners of Betfred, Fred and Peter Done, whose assets are valued at around £660 million.

Fourth place is occupied by Vikrant Bhargava also of PartyGaming with a fortune of £230 million while Victor Chandler is in 5th place with assets worth £160 million.

Others making the list in 6th and 7th place are Ed Wray and Andrew Black of Betfair with £125 million and £132 million respectively as well as Richard Koch with accumulated assets valued at £92 million.

Towards the bottom of the list is Phil Cronin of Tombola who is valued at a respectable £82 million which is £27 million more than reported last year.

As you can see, no matter what the economy does, the online casino and gambling business is still a very lucrative one for those who know what they are doing.

If you can only dream of fortunes like this at the moment, then why not play for them? A jackpot win could change your life!