Posts Tagged ‘gambling’

Gambling on Grades

GradesLittle time today, I’m afraid, to do much more than point you to an article of mine over on the Betfair poker site that went up today –> “Cash for Grades?

You might have read something this week about a website — called Ultrinsic — that is allowing U.S. college students (at 36 different schools) to place real money wagers on the grades they receive in their courses. No shinola!

The story came via the Associated Press and got picked up by dozens of papers and websites across the U.S.

One element of the story of particular interest to poker players (I think) was the discussion of whether or not the site — based in New York — was, in fact, offering “online gambling.” Our buddy I. Nelson Rose, the law professor and gambling law expert, actually turns up in the article to opine on the issue with regard to Ultrinsic.

As you’ll see if you go read my article, I’m no fan of the idea of college students betting on their grades. Obviously I’m not opposed to gambling per se, but I don’t like the idea of artificially adding this extra significance to grades (which I already think are made out by many to be more significant than they should be).

Besides, the site itself also looks more than a little sketchy to me. Check it out if you are curious, and tell me what you think.

And then have a good weekend!

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Doyle Brunson Wins Big on Super Bowl Bet

Like many people accross the world yesterday, Doyle Brunson put down a bet on football’s biggest game of the year: The Super Bowl.  In his blog Doyle said he placed $50k down on New Orleans.  Brunson posted on the 4th, “This will be an enjoyable event this year as I made a 100k bet on [...]

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Did Gambling on the Super Bowl Alter Your Brain?

Gambler's BrainReally enjoyed that there Super Bowl yesterday. Was mostly just hoping for a good, competitive game, which after the first quarter didn’t appear was gonna be the case. But the Saints were solid from the second quarter onward, and definitely deserved the win. Great fun watching, capping an entertaining season of football viewing for yr humble gumshoe.

I did not bet on the game nor did I go for any of the many prop bets (longest field goal, length of national anthem, coin flip, etc.), though I enjoyed following on Twitter the travails of others who did. The Super Bowl is, of course, the single most gambled on contest in sports. Saw estimates ranging from $2 billion to as high as $10 billion being wagered worldwide on the game. Hard to know for sure, of course, since so much of that betting is not necessarily on the up and up, but it is safe to say a ton of cabbage changed hands yesterday based on what happened down in Miami.

For many people the Super Bowl is the one time all year when they will gamble on sports. The Super Bowl also often becomes a favorite time of year for pundits to opine about gambling, generally speaking. Among those articles one caught my eye over the weekend on the Fox News site, one titled “Super Bowl Gambling May Alter Your Brain.”

The article appeared in the “Science/Technology” section, so I guess what we’re looking at there is technically reporting, not editorializing. Actually, it probably doesn’t qualify as either, really. The piece basically just compiles quotes from three sources as a way of trying to support that sensationalistic headline.

First, the author quotes a junior faculty member in the Department of Psychology at the University of British Columbia pointing out that while most believe “gambling is enjoyable and harmless,” for some “it is as destructive as being addicted to drugs.” No argument there, but that doesn’t really speak to the idea that our brains are changing.

The next source quoted is Kyle Siler, author of that study on online poker that appeared in The Journal of Gambling Studies. I wrote a few weeks ago about Siler’s article, which he titled “Social and Psychological Challenges of Poker,” mainly noting how Siler’s findings got muddled by USA Today in its reporting. The Fox piece similarly misrepresents Siler’s study, suggesting that it “showed that the more hands of poker someone plays, the higher the chances that he’ll walk away with smaller profits.”

I read the study and it actually says nothing at all like that. After pumping 26.9 million hands into Poker Tracker, Siler did find that the players with higher win rates were not the ones who won the most hands, percentage-wise. Then he offered some speculations about why that might be the case, including suggesting that winning small pots might gird one against the pain of losing big ones. But Siler does not suggest playing more hands leads to winning less — rather, his main point (the one that keeps getting misrepresented) is that winning more hands does not directly correlate to winning more money.

Casino OnlineA more accurate summary of Siler’s study — one that sticks more closely to the text of his article as well includes a real interview with Siler (and not just a quote-grab) — appears over at Casino Online. Some interesting discussion there about this “counterintuitive incentive structure” Siler says characterizes poker, as well as some further talk about the online game, if you are interested.

Getting back to the Fox News piece, though, we’re still not talking about how the brain works yet. Only the third source quoted in the piece offers anything along those lines, a researcher named Luke Clark who works at the Behavioral and Clinical Neuroscience Institute at the University of Cambridge.

Last year Clark published a study in the academic journal Neuron that showed that when a person gambles, the brain responds similarly to near losses as it does to wins. That is, Clark looked at MRIs of people gambling and found the same parts of the brain appeared stimulated when they came close and lost as when they won. Clark’s study, titled “Gambling Near-Misses Enhance Motivation to Gamble and Recruit Win-Related Brain Circuitry,” concluded that these near misses actually “invigorate gambling through anomalous recruitment of reward circuitry,” increasing the desire to gamble despite the lack of monetary reward.

As he told the Fox interviewer, “a near miss is a signal you’re acquiring the skill, so it makes sense that your brain processes [it] as if [it] were a win.” This is even true, says Clark, when dealing with gambling games that are nothing but chance-based like slot machines (which were used in his study).

All very interesting, although if we go back to that headline, if gambling does “alter your brain” it sounds like it only does so temporarily — not quite like the way, say, drugs or physical trauma might permanently damage one’s brain as the article’s headline seems to imply.

Did Gambling on the Super Bowl Alter Your Brain?I do think Clark is probably on to something there with regard to the way coming close and losing can increase one’s desire to try again. But I also think one can easily go too far with talk about how gambling can “alter your brain.” Saying that suggests a greater than temporary change, which I don’t think Clark is necessarily saying. Such a claim also perhaps might encourage dubious arguments questioning the culpability of problem gamblers, too.

In fact, I’d compare what Clark is saying to the temporary “pleasure” I received from simply watching the game last night (without betting on it). I guess you could say my brain was momentarily altered by the experience. That cold medicine I took during the evening also probably altered my brain for awhile, too. But I think this morning my brain is pretty much the same as it was yesterday when I woke up.

Or maybe that’s just what my brain is telling me to say.

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Nice Product Placement Pokerstars

I was watching the video for Hard by Rihanna the other day (see below) and couldn’t help but notice a nice little product placement in the video for Pokerstars.com.  This is the first time I have seen an online poker site advertising within a popular music video such as this one (which is an amazing [...]

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The More Cowbell System

I’ve mentioned here a couple of times how I’m participating in an NFL pool this year, Pauly’s Pub. The league name comes from its commissioner, the Rt. Hon. Dr. Pauly. It’s a straight-up “pick ’em” pool — meaning everyone picks winners for all the games (i.e., not against the spread).

I started the year slowly with my entry — “More Cowbell” — then had a nice stretch of four weeks or so during which I got back into contention. However, with three weeks to go I am now a longshot to make the money (i.e., the top four spots out of 40). I’m currently tied for eighth, but am five games behind the two teams tied for third. Would be remarkable somehow for me to gain that much ground over the last 48 games, I think.

Overall this year I’ve picked 143 of 208 games correctly. That’s just 68.75% overall, although better than almost 96% of the tens of thousands participating in ESPN’s Pigskin Pick’em game. My worst week was Week 7, when I only picked a miserable 7 of 14 correctly. My best came the following Week 8, when I chose the right team in 11 of 13 games.

Kind of interesting to see that of all of entries on ESPN, the absolute best anyone has done is 158. That’s basically just getting one more correct per week than I have. The top entry in Pauly’s Pub, “Fear the Ginger,” a.k.a. Lance Bradley (Bluff Magazine Editor-in-Chief), has hit an impressive 155. He appears to have locked the sucker up, as our buddy Julius Goat (“Some Jive-Ass Slippers”) is in a distant second with 149.

Know Your GoatWe’re all searching for a system, I suppose. Except for those who have already discovered theirs. For example, if I understood a series of tweets Mr. Goat sent out last week correctly, he makes his picks following a complicated rubric based on the relative fear induced by team names.

Topping the list as the least threatening names (according to JG) are the Browns (“‘The Browns In the Superbowl’ sounds like a euphemism. Not a good sign”), the Cardinals (“only intimidating if you are a seed”), and the Chargers (“once was much stronger, but in the age of cell phones and laptops it has downgraded to wussy accessory”). Search his Twitter timeline for more. (And for even more grins, start following.)

I’m not much for gambling on sports, really. Not too long ago I wrote a post here called “Confessions of a Non-Gambler” in which I explained how poker actually tended to diminish rather than encourage whatever small urge I might have had to wander over to the sports book and place a bet. The utter lack of control — which I know some enjoy immensely — is what tends to make sports betting less fun for me.

That said, I’m digging having a rooting interest in every single game this year. I’m an NFL fan anyway, and can thus be engaged no matter who is playing or what the situation. But this year I’m finding myself living or dying with every friggin’ game. Whether I miraculously make the cash or not, the increased fun I’ve had following games was most certainly worth more than the modest entry fee.

Thus, relatively inconsequential games like that Detroit-Cleveland epic from Week 11 in which the Browns (whom I picked) lost on the last play 38-37 now stand out in my mind as the most memorable of the year. So do other, more significant games like that New England-Indianapolis debacle from Week 10 in which Belichick crazily went for that fourth down late. (Had the Pats there, I did.)

But I’ve won my share of games on last-second plays, too. Much like the percentages in poker, such things tend to even out, I guess.

Not surprisingly, I’ve done best when trying to predict games involving the league’s worst teams. Have only missed picking games involving the St. Louis Rams (1-12) and Detroit Lions (2-11) a single time all year. (And, as mentioned, could’ve been perfect with Detroit thus far if not for that game in which they beat the Euphemisms.) Also doing well with the two remaining undefeated teams, the Indianapolis Colts (13-0) and New Orleans Saints (13-0), having only picked against them twice each. Of course, I assume most everyone has done well with those teams.

Meanwhile, I’ve guessed incorrectly seven times when picking games involving the surprising Cincinnati Bengals (9-4), the uneven Jacksonville Jaguars (7-6), and the disappointing Pittsburgh Steelers (6-7). I also have missed seven games involving the hard-to-figure San Francisco 49ers (6-7), although one of those was a Thursday game I forgot to pick. (Did get the Niners right last night, though. Woot!)

So, fellow NFL prognosticators… how have you done? Let me know. Meanwhile, I have some injury reports to study.

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Party Gaming and BWIN to Merge?

According to several sources, Party Gaming and BWIN are currently in talks of merging their companies together.  If the 2 do merge together, the new group would be worth approximately 2 Billion Pounds.
Stories were first released last week in The Times and The Sunday Times stating that the 2 companies are currently in merger talks.  [...]

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