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The mother of South Korean actress Han So-hee has been arrested on charges of running illegal gambling dens.

According to TV Chosun, Han So-Hee’s mother, Shin, operated 12 gambling establishments across South Korea from 2021 until the end of August 2024.

Shin is alleged to have used business operators as proxies to establish locations where customers could access casino games. She is said to have been issued a fine for illegal gambling in the past and has a previous criminal record for fraud.

Shin is believed to be estranged from her 29-year-old daughter; the actress has opened up about being raised by her grandmother after her parents divorced.

her mother had run up debts of over 40 million KRW ($29,871) in her name

In a blog post in 2022, the actress stated that her mother had run up debts of over 40 million KRW ($29,871) in her name, which she only became aware of when she turned 20 years old.

After repaying the debts, her mother would do the same again, leading to the star facing a lawsuit. Eventually, the Ulsan District Court ruled in her favor and freed her from the liabilities incurred by Shin.

The post Han So-hee’s Mother Arrested for Illegal Gambling Operations appeared first on Vegas Slots Online News.

Foreigners detained in gambling raid

More than 150 foreign nationals were arrested in a raid on an illegal gambling facility in the Philippines this past Saturday.

The facility, in Lapu-Lapu City on the island of Cebu, was home to around 162 foreign nationals, mostly from China and Myanmar, who are alleged to have been involved in illegal gambling and scam call operations.

the raid came as part of a request from the Indonesian embassy

According to Winston Casio, spokesman for the Presidential Anti-Organized Crime Commission, the raid came as part of a request from the Indonesian embassy.

“We’ve seen enough evidence to be able to file a cybercrime offence, for facilitating cybercrime-related gambling, cybercrime-related qualified trafficking”, Casio added in a live-streamed briefing.

Philippines cracks down on POGOs

All offshore gaming operators in the Philippines, known as POGOs, were banned in the country in July 2024. POGOs mostly target nationals in other countries, such as China, and have been involved in other crimes such as human trafficking.

The Philippines has been carrying out a major crackdown on illegal operators this year, even raiding a plastic surgery center which was being used by online casino operators to change their identities.

At the time of the ban, around 40,000 people were estimated to be employed in the industry in the Philippines, which contributed a gross 166.5bn pesos ($2.9bn) of revenue a year to the Philippine government.

Government officials, however, have claimed that the net cost to the Philippines was around 99.52bn pesos ($1.7bn) annually. The costs are largely attributed to reputational harm and crime, which negatively impacts both foreign investment and tourism.

Immigration laws breached

The Anti-Organized Crime Commission also stated that “All foreign nationals will be brought to Manila to face inquest proceedings for violation of immigration laws.”

Norman Tansingco, the commissioner of the Bureau of Immigration, also said that operators could be held responsible for any undocumented immigrants found to be operating on their premises.

we will suggest to the authorities to file cases against resort owners”

Tansingco said: “We will suggest to the authorities to file cases against resort owners that allow their properties to be used by illegal aliens in their covert operations.”

“This will serve as a warning to those who might attempt to start illegal online gambling operations, which has already been banned by the President.”

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Just in time for the upcoming football season and September’s Responsible Gaming Education Month comes a new study from the American Gaming Association (AGA) showing that American attitudes toward casual gambling have shifted. Consumers now show favorable ratings toward sports entertainment mixed with wagering as a positive way to pass the time.

contributes to communities, prioritizes responsibility, and provides unmatched entertainment”

Joe Maloney, AGA Senior Vice President, Strategic Communications, said: “These latest survey results highlight a consistent trend over the years: as gaming expands to new audiences, Americans increasingly see the benefits of a legal, regulated gaming marketplace that contributes to communities, prioritizes responsibility, and provides unmatched entertainment.”

As reported by ReadWrite, compared to last year’s study, the feedback shows that there has been a 10% increase in the American public’s perception of how problem gambling can be tackled. Overall, there has been growth in:

• Familiarity with responsible gaming resources
• Effectiveness of responsible gaming programs
• Increased awareness of responsible gaming messages
• Responsible marketing and advertising

In perhaps the most stunning increase in a favorable metric, the AGA’s study notes a jump from 55% to 65% of Americans now believing the gaming industry is committed to responsible gaming and resolving problem gambling. The report shows an even higher rating among those who engage with the industry directly, with 81% of physical casino players and 88% of sports bettors agreeing with this sentiment, up from 70% and 78%, respectively, last year.

Given that some states—indeed, countries across the world—are still coming to grips with the benefits that legalized gambling can bring, it’s surprising that the consumer sentiment rating now finds that 75% of Americans support legal sports betting in their home state. Some countries like Brazil and Thailand are pushing for legalized gambling, while American states like South Carolina and Nebraska continue to see active lobbying heavily in favor of legalizing gambling.

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Study analyzes regret and gambling decisions

Good decisions determine the long-term gambling career of each person, and a new study shows that the results may have more to do with our state of mind than previously thought.

The new study comes from Temple University faculty member Crystal Reeck, whose paper was recently accepted for publication in the journal Cognition and Emotion. The paper, titled “Reining in regret: emotion regulation modulates regret in decision making,” outlines how our memories can be reimagined to change our feelings of regret—and ultimately our gambling decisions in the here and now. The study was co-authored by Kevin LaBar, a Professor of Psychology and Neuroscience at Duke University.

Regret is really a great example of an emotion that can have a profound influence on decision-making.”

Reeck, Associate Professor of Marketing and the Associate Director of the Center for Applied Research in Decision Making in Temple’s Fox School of Business, said: “Regret is really a great example of an emotion that can have a profound influence on decision-making. With regret, we often wish we had done something differently, and that then leads us to change our approach moving forward.”

Reeck went on to say that people become interested in regret due to its profound influence on people’s behavior. Her hypothesis on the consequences of unmanaged regret speaks to how people approach wins and losses in gambling, and whether those wins or losses lead to suboptimal decisions. She added: “So, if I’m worried about a very small risk of losing a lot of money, it might lead me to avoid what would otherwise be a really good investment because I’m worried about anticipating that regret.”

Study utilized results from real bets

The study relied on more than self-reports or meta-analysis. For the new study, Reeck and her colleague asked 60 participants to place real bets where they could win or lose money. The participants were then asked to utilize two specific emotional regulation strategies: the portfolio approach, or the immediate results approach.

Referring to the portfolio approach, Reeck said: “Essentially, you’re going to win some and you’re going to lose some when it comes to making decisions. Don’t worry about that, just try to come out ahead overall.”

With the other strategy, Reeck asked participants to focus on the immediate impact of each gamble as though it was all that mattered. Participants who used the immediate results strategy were far more likely to experience regret and inhibition for their next gambling decisions. The participants overemphasized the results rather than the overall portfolio of their wins and losses. In other words, participants who used the portfolio approach still appreciated the times they won, both recognizing their long-term results and whether they could have suffered far greater losses.

when you try to focus on the gains, it is easier to not be bogged down by past regrets”

According to Reeck, that’s the approach that people should use when looking at past regrets in life, too, saying: “When people look at their past decisions like that and instead focus on the good, they see that overall, they are coming out ahead. That’s true for a lot of us. We are all going to experience some losses. That’s inevitable. But when you try to focus on the gains, it is easier to not be bogged down by past regrets.”

The post Study Reveals How Regret Informs Our Gambling Decisions appeared first on Vegas Slots Online News.

Somewhat quietly, Genius Sports (NYSE: GENI) is one of this year’s best-performing sports wagering stocks as highlighted by a year-to-date gain of 23.30%. That includes a 12.72% rally over the past month.

Some analysts believe the sports betting data provider has more upside in store for investors. In a note to clients today, B. Riley analyst David Bain reiterated a “buy” rating on Genius with a $10 price target, implying upside of 31.2% from today’s close.

On its 2Q24 earnings call, GENI stated it expects 20%-plus revenue growth for the ‘foreseeable future,’” wrote Bain. “However, calendar year (CY) 25E consensus sales growth is 14%. 20% growth from CY24E estimates implies an additional $29M of CY25E revenue versus consensus. Using GENI’s general midpoint flow-through guidance implies an additional $12M of EBITDA, 11% higher than CY25E consensus EBITDA estimates.”

With the arrival of football season, Genius could further be in focus because it is the exclusive provider of the NFL’s real-time, official play-by-play statistics, which are in high demand by sportsbook operators because football is the most wagered on sport in the US.

Genius Sports Could Notch Near-Term Upside

The arrival of football season is seen as a boon for a variety of gaming companies and while Genius is a business-to-business firm, expectations that bettors will wager more than ever before on the NFL could be a legitimate catalyst for the already high-flying stock.

“We estimate a 500 bps mix shift to U.S. OSB NFL-only in-play from pre-match wagering equates to an additional $3M of EBITDA to GENI. Operators have been transparent about increasing the in-play mix of betting with additional propositions, placing in-play betting opportunities, and using low-latency technology (including GENI’s BetVision),” noted Bain.

The analyst added that markets may not yet be fully appreciating the potential positive impact in-game wagering expansion could have on Genius shares.

Genius Sports Has Other Catalysts

In July, Genius announced a deal with X (formerly Twitter), one of the largest social media platforms in the world. Under the terms of the agreement, Genius will leverage its ad-tech products to deliver advertisements specific to conversations taking place on X.

With more media rights negotiations coming up, ad-tech could be unheralded catalyst for Genius shares while diversifying the company’s revenue stream.

“While more difficult to quantify, we believe many of GENI’s new ad tech offerings — ads placed directly into live streams or a self-service platform offering GENI’s unique data for advertisers to use in ad buys (100% margin business for GENI) — are potential levers for media growth relative to consensus. We believe some U.S. take-rate negotiations will benefit GENI’s media division with higher go-forward commitments,” concluded Bain.

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Dallas Cowboys owner Jerry Jones has long supported bringing regulated sports betting to Texas and he recently reiterated that view, noting that the state is missing out on substantial tax revenue by failing to legalize that mobile sports wagering.

In a media session earlier this week following a Cowboys practice, Jones said he thinks the Lone Star state will eventually have sports betting, but until then, Texas is missing out on an opportunity to generate significant tax receipts.

I think ultimately you’ll have sports betting in the state of Texas. Until that time, the state does lose an opportunity for huge amounts of revenue,” the Cowboys boss said.

Jones didn’t speculate as to when the state could approve mobile sports betting, but it appears that is highly unlikely to happen prior to the 2027 legislative session. If it happens then and the matter is approved by voters later that year, it’s possible Texas would have mobile sports wagering in advance of the 2028 football season.

Jones Wants Transparency in Texas Sports Betting

Jones and other owners of professional teams located in Texas have been vocal supporters of regulated sports wagering coming to the state because it’d be a money-maker not only for the state, but for their franchises as well.

“I think that properly, properly supervised, by the people that play the games and people that have the teams that play the games and the individual athletes — you’ve got to make sure that the perception is and the reality is that there’s just no compromising on it all being very competitive and up-and-up,” he told the press. “I think that takes some time in some places more than it does others.”

Jones has some gaming investments, including ties to an Arkansas casino plan. Along with several other professional team owners, he was an early investor in DraftKings (NASDAQ: DKNG).

Texas Sports Betting Outlook

In 2023, both casino gaming and sports wagering made more progress than the issues previously had in Texas, but both ultimately perished because there wasn’t momentum in the state Senate to take up the related bills.

Lt. Gov. Dan Patrick (R) controls what bills are heard in the Senate and his opposition to gaming expansion is well-documented.

Due to this being an election year, the Texas legislature had a brief schedule, making it difficult to consider gaming issues. The legislature is scheduled to reconvene in January, but the prevailing wisdom in sports betting circles is that politicians there won’t prioritize sports wagering.

The post Jerry Jones: Without Sports Betting, Texas Missing Out On Big Revenue appeared first on Casino.org.

Crypto poker expanding

Decentralized poker games have often been speculated as one potential use case for blockchain technology, although both players and sites have been slow to adopt it. Soon, however, players will have two serious platforms from which to choose: CoinPoker and the soon-to-be-launched Phenom Poker.

CoinPoker, which is backed by Antanas “Tony G” Guoga, was launched back in 2018, but has recently hosted a series of high-profile cash games involving streamers such as Jonathan Little, JNandez, and KakiTee. The platform has seen a slight uptick in cash game traffic as a result, but still lags well behind traditional online poker giants like GGPoker and PokerStars and has failed to generate significant traffic in tournaments.

the app has signed a host of brand ambassadors to publicise the platform

The next contender on the block will be Phenom Poker, which is scheduled to launch this year. The app has signed a host of brand ambassadors to publicize the platform ahead of its launch, including Alec Torelli, Brian Rast, Ari Engel, and Ben Heath.

The site promises a host of features at launch, including variants such as stud and open-face Chinese poker, customizable 3D avatars, and a new ERC-20 token which will function as the centerpiece of the site’s rewards system.

What makes crypto poker sites different?

Both CoinPoker and Phenom Poker use blockchain technology to operate a decentralized random number generator (RNG). This method claims to improve transparency and security, and is a key use of blockchain technology for both platforms.

CoinPoker’s site states that “Our new, decentralized random number generator (RNG) software uses input from all players at a table to shuffle the deck, giving you the power to prove the fairness of the shuffle.”

our revolutionary RNG module is impossible to reverse engineer”

“Using the same cryptographic hash function used on the Ethereum network (KECCAK-256), our revolutionary RNG module is impossible to reverse engineer. This makes it possible to safely disclose information about the order of the deck, and boost transparency in online poker.”

Phenom Poker uses a similar decentralized model for its RNG, stating: “Essentially, this algorithm allows two or more players to play a game of cards together, each shuffling, dealing, and even discarding cards without the need for a trusted third party.”

Is crypto poker really decentralized?

These systems have not been without criticism, however, and are not truly decentralized since they do not take place entirely on-chain. One notable skeptic is Jason Mo, a well-known figure in both the poker and crypto worlds.

“[The] issue is that eth and evm chains are slow, and poker hands are quick. You can’t have all people send you encrypted data in real time. They notice this and then do everything off chain”, said Mo in one of several posts on X he made criticizing the platform.

“The problem is, this defeats the purpose of a decentralized shuffle: if you do it off chain you have to trust what happens off chain.”

there is a very big reason why poker sites don’t use this model”

“You have to trust them to execute the shuffle correctly,” Mo added. “If you do or not is another story, but assuming you do, the mental poker model is not needed and just adds plaintext attack risk… there is a very big reason why poker sites don’t use this model.”

Legal Issues of crypto poker sites

RNG is not the only issue that crypto poker sites may come up against. Mo had also previously criticized CoinPoker, drawing attention to the fact that it was unlikely to comply with money laundering regulations, which could pose future problems for the app. While the site has since published a Know Your Customer (KYC) policy, the “About Us” page on the website still advertises that transactions require “no KYC checks.”

While players in certain jurisdictions where online poker is illegal have long had plenty of offshore options to choose from which have remained online, such as America’s Cardroom and Bovada, directly promoting the site as KYC-free is another matter entirely. Phenom Poker is yet to launch, but the site claims it will employ a strict KYC policy, requiring proof of age and address.

Whether Phenom Poker will have any better luck than CoinPoker remains to be seen. The product certainly has a fresher, more modern-looking user interface, and has the backing of plenty of well-known faces in the poker world.

For now, however, neither site seems likely to seriously challenge the likes of PokerStars, GGPoker, and even offshore sites like America’s Cardroom. Building a player pool from scratch is no easy affair, as Phil Galfond already found out, and the fact that CoinPoker has been around for six years shows the need for patience. For Phenom Poker, time will tell.

The post Can New Crypto Poker Sites Challenge Industry Leaders? appeared first on Vegas Slots Online News.

Morris Bailey, a New Jersey real estate tycoon whose DGMB, LLC, owns Resorts Casino Hotel in Atlantic City, announced on Thursday a phased development to expand the Monmouth Park Racetrack grounds into a mixed-use destination.

Through his JEMB Realty, which has vast office, residential, and entertainment experience throughout the Garden State, Bailey revealed his plans to overhaul Monmouth Park’s roughly 80 acres of paved surface parking lots and undeveloped property into a vibrant mixed-use complex.

Bailey says construction at Monmouth Park is slated to begin in the fourth quarter of 2025 after permits are secured and construction teams are procured.

Monmouth’s Mammoth Project 

Monmouth Park is located in Oceanport, less than two miles west of the Jersey Shore. Bailey says the multiyear, multiphase development will “reimagine” the storied horse racetrack that’s home to the annual Haskell Invitational, a major race for three-year-old thoroughbreds that comes in July after the conclusion of the Triple Crown but before the Breeders’ Cup.

We are embarking on the next phase of a journey that began over a decade ago when we developed plans to reimagine and reinvent the Monmouth Park experience that has brought so much joy to generations of horse racing enthusiasts,” Bailey said in a press release. “We have always been staunch advocates for returning the area to its rightful place as the premier destination for horse racing and family entertainment while including important components that serve the community at large.”

Bailey says the project comes with the support of several state agencies, including the NJSEA and the New Jersey Thoroughbred Horsemen’s Association. New Jersey Gov. Phil Murphy (D) applauded the initiative.

“Monmouth Park Racetrack is an iconic New Jersey attraction,” the governor said. “We are thrilled to see this project move forward, which will bolster the local economy and ensure that the area is a popular destination for generations to come.”

Along with the 200-key hotel, the Monmouth Park blueprint includes plans for a 298-unit residential building, indoor and outdoor sports facilities tailored toward youth sports, and an outdoor pool complex. Bailey says the mixed-use complex will also offer a live music venue.

No Casino — For Now

Brick-and-mortar casino gambling in New Jersey remains confined to Atlantic City, though retail sports betting is allowed at the state’s three horse racetracks. Monmouth Park was one of the first retail sportsbook locations to open outside of AC following the 2018 Supreme Court repeal of a federal law that had limited single-game betting to Nevada.

In May, Monmouth Park broke ground on its trackside Caesars Sportsbook. The track’s sportsbook operation has remained inside the grandstand in a dated sports bar since the facility gained sports betting privileges more than six years ago.

New Jersey Sen. Joseph Pennacchio (R-Morris) has been fighting to amend the state constitution to allow slot machines at racetracks for over a decade. His continual constitutional referendum proposals have suggested directing 30% of racino slot taxes directly back to the nine casinos in Atlantic City.

Pennacchio’s 2024 Senate Concurrent Resolution 14 failed to advance out of the chamber’s State Government, Wagering, Tourism & Historic Preservation Committee.

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Australian sportsbook operator BlueBet said it’s withdrawing from the US market to focus on its sports betting business in its home country.

The gaming company made the decision as part of its strategic review of its US operations, and it arrived about two months after BlueBet announced plans to leave Indiana. At that time, the operator indicated it intended to continue doing business in Colorado, Iowa, and Louisiana, but it also told investors the strategic review was ongoing. By leaving the US, BlueBet can better focus on its Australian business, which is thriving.

The company’s stated objective is to exceed 10% market share in the short- to mid-term through a combination of organic and inorganic growth,” according to a statement. “It is confident its expertise in building and scaling Australian wagering operators and ongoing investment in technology will deliver outstanding experiences for customers and create value for shareholders.”

BlueBet acquired Aussie rival Betr in April, combining the buyer’s technology stack with the target’s strong customer base. By leaving the US, BlueBet can focus on tapping synergies in that deal.

BlueBet Will Save Cash By Leaving US

Although the US is the newest large regulated sports wagering market in the world, it’s fast become one of the most competitive and expensive to operate in. Those costs especially weigh on smaller operators such as BlueBet.

“The decision to exit the US comes as slower than expected regulation has hampered total market growth and hindered interest in the company’s B2B SaaS platform, which BlueBet viewed as a significant opportunity,” the company added in the statement.

Though it didn’t mention any rivals by name, BlueBet acknowledged the difficulties smaller operators face in the US when going up against larger rivals. Currently, the US sports wagering is essentially a duopoly controlled by FanDuel and DraftKings.

With BlueBet, US Sports Betting Casualties Piling Up

With BlueBet confirming it’s abandoning the consumer-facing side of the US sports betting market, “deaths” in the space are piling up at a rapid pace. BlueBet’s decision arrived less than two weeks after Betfred said its considering a similar move.

BlueBet added that it will continue to seek monetization of its technology assets in the US and abroad. It expects to take one-time charges related to the closures of its various state-level operations.

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