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1121  Economy / Gambling discussion / Re: Advice when you are going a bit far in gaming and betting on: May 15, 2023, 09:35:59 PM
This is just the basics, but anyone should be aware of it:

Budget: set it BEFORE you start gambling and stick to it.
Have a break from time to time, it is important to let your brain stop and consider.
Avoid drugs / drink as much as possible, they will make you loose some control innevitably.
Seek help if you feel you are no longer in control. Make a phone call to a friend or go out and speak with someone.

Anything else anyone can think of? Like... read this post before gambling? Tongue

These are really good tips, especially the one about staying away from drink and drugs, or any intoxicant is important. Even the stimulation from something like the caffeine in coffee or coca cola can be bad for you - even if you get hyper focused at the start, this could lead to mistakes or you could even get a sugar crash later, it's better to keep a balanced demeanor throughout your playing session. You should definitely limit the total overall time that you spend on this activity as well, even if you are taking breaks, because it's super easy to lose concentration (thinking of poker) so better to limit yourself to 3-4 hour sessions, go get some fresh air or simply do something else with the rest of your day.
1122  Economy / Economics / Re: Do you spend more-do you get more? on: May 15, 2023, 09:31:36 PM
There is an opinion that the more money you spend, the more you get in return, it is interesting to find out who really works in this direction. I spend enough money, but I have a fixed income, therefore I will not be able to get more. I don't have rich relatives, and I don't expect an inheritance either. I want to get rich, not to deny myself, but I have to save on everything. Who really faced big expenses and received even more? How does it work, maybe I don't understand the essence of it correctly?

I think what you're referring to is the poverty tax. Take shoes for example (this is commonly cited) - a poorer person might end up buying a cheap pair at $25, but has to replace them every year so in five years spends $125. However a richer person might spend $75 and the pair might last those same five years. That means that someone with less money has to buy something that will cost them more in the long run. This can be applied to all sorts of every day examples and even aspects of life such as healthcare. If you can buy better food then you may stay healthier for longer with less ailments. There is a slightly different expression which says buy cheap, buy twice - so low quality can also break, eliminating any cost advantage the cheaper version might have offered.
1123  Economy / Gambling discussion / Re: Some needed features of an online casino. on: May 15, 2023, 09:21:56 PM
Gambling is now really accesible nowadays, it starts with the tradition gambling wherein you are going to specific place to play personally or to gamble personally. It is now easily accessible because it already developed and we can now gamble online, there are so many websites online where we can gamble and the woeful fact is that people with any age can now gamble, if the website requires the idendtity then they can also use their parents ID or someone the know with valid ID.

Ive seen a qoute saying One has to know the risks and how to protect themselves,” she said. “[Gambling] does have alluring qualities that people have to be aware of this one says everything, there are a lot of gambler who have lost their lives becaus of addiction, addiction turns into depression this is not already a joke because it can really kill people. This is really destructive as it is now accessible 24/7 nowadays for only using phone or computer.

I am hoping that people who gamble can still prevent themselves from being addicted on it, there are still a lot of things that we can do to prevent addiction and those gambling websites or application can also help their customer by doing these things.

1. They can use more secured ways to identify the real identity of their customer, the best thing to do here, aside from valid ID is they should add "take a selfie" on identity process.
2. They can also set a time limit of playing for a player, give notification if this would be their last game anymore for today.
3. Set a notification showing how long they've been playing.

With these kind of features, they might actually help or lessen the addiction of a gambler.

In reality most fiat based casinos have been seeking out more and more validation requirements for their customers over the years. It is only now after crackdowns that crypto casinos are having to crank it up or get heavy attention from regulators in the country they are headquartered in. If people have to go through this KYC and they don't want to share their identity, maybe because it would reveal assets otherwise unknown to the government or taxman, then there is no incentive to use these casinos over normal fiat currency ones. As for notifications, they are a sticking plaster - they have little real effect on a hardcore gambler who will immediately disregard the underlying message that they've played too much - it might even have a reverse effect for a stubborn player.
1124  Economy / Economics / Re: Deposits-in the bank or in gold? on: May 15, 2023, 09:18:29 PM
How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

For anyone who has been watching gold over the years, it can be such an erratic way to store value and it's pure random luck what's happening when you want to sell. In good economic times, money can often pour out of gold because it doesn't give a regular return (you're just hoping you can sell it higher after you buy it). In bad times, the big money has often already moved into it long before and the average investor is usually very late to the party so will be lucky not to lose a chunk of their investment in the waves of boom and bust. If you like it because it's shiny and you have plenty of spare money around, it is a perfectly fine investment but you should limit it to 5-10% of your assets (maybe having a crypto amount within that total too)
1125  Economy / Gambling discussion / Re: Do you blame someone for your gambling losses? on: May 14, 2023, 12:24:29 PM
Court sentences mother, son to 7 years imprisonment and what did they do?

The mother and the son after gambling away 5.6 million naira, that is about $8,000. When the reality dawned on them, they gave false information in petition, accusing someone of fraudulently transferring the fund from their Opay account to the sport betting account without their authorization.

Could this be a case of making someone pay for what they didn't eat or a case of double standard.

Bet as you can sustain and not allow your emotions have a better part of you.

This seems like a simple case of fraud, they didn't specifically accuse someone of taking part in this "heist" but just claimed that some unknown hacker must have done it. The first thing any police officer will do however, is try to establish a motive and seek out the people who stand to gain the most from this - which clearly leads back to the original account owners. This has probably happened many times to casino's and payment processors, so they are easily able to identify the red flags, plus they'll have sophisticated fingerprinting software that can easily catch abusers out.
1126  Economy / Economics / Re: Concers About Going in Business with a Friend on: May 14, 2023, 12:04:45 PM
Many years ago, I heard the story of a man whose business partner did dirty. They were business partners for almost 5 years and the suddenly the business partner left with company's money. Even after several years, this man didn't recovered. He ended up sounding it as a warning to his kids never to go into business with anyone. The trust was destroyed and never recovered. This is just one of those sad stories.

On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.

I think there are far fewer stories of success in businesses started by friends and family, than there are disasters where relationships have suffered great strain because of issues in the business. Business often requires a single leader to drive the direction, so if you end up with compromises or stuck with opposing views on important decisions then you might fall out. It adds a whole new dimension of extra stress and may bring out a hidden, worse, side in some people x
1127  Economy / Gambling discussion / Re: The madness of gambling addicts. on: May 14, 2023, 11:58:18 AM

Quote
There are three licensing objectives which support the whole basis of gambling regulation:

- that crime should be kept out of gambling
- it should be conducted in a fair and open way
- children and other vulnerable persons should be protected from harm or exploitation from gambling.

There are always going to be very bad people, who take their addiction linked crimes to the extremes because their mind has gone beyond warped. However the approach of the UK gambling commission is really sensible and a base set of rules that could lay the groundwork for laws in most countries. Crime can be huge in casino's as they are cash based and have historically been used in vast money laundering operations - even up to recent times like the scandal that hit the biggest Australia casino's recently.
1128  Economy / Economics / Re: Success is fundamentally determined by luck, not effort. on: May 14, 2023, 09:23:16 AM

Recently I have had numerous reunions with Uncles from my extended family. Some of them are successful businessmen for decades. They built their business from nothing and are living quite a comfortable life now. We had long conversations about life in general, including their key to success. I knew very well that they have been hard workers ever since I had a memory so I would contribute their success to endless efforts. However, one thing they had mentioned in common was luck. They believe pure luck made them meet and grasp those opportunities and become successful rather than their smartness and efforts. I've thought about this before and couldn't agree with this more. They've set very good examples to me, including my father, and now I tend to focus more on work itself consistently and let luck or fate takes the rest.

People who get success can sometimes have a distorted view of how they arrived there. They often overlook all the tried and failed attempts at business ideas, which many others would never even attempt. Luck can play a small part, but it's often a case of generating your own luck and that is the key difference. If you are pro-active, going out to seek new fortune, it is different than never attempting anything at all - hoping that it will fall into your lap. There is a big difference with many examples in business, like choosing to focus on one product or service while cutting loose the other less profitable ones, it's a small step but it is based on reasoned prior experience rather than some defined fate.
1129  Economy / Gambling discussion / Re: Politicians behind the development of gambling platform on: May 14, 2023, 09:03:51 AM
A politician in the Philippines claimed to have had a hand in the development of the very controversial e-sabong platform he operated e-sabong so he can make a lot of money so he can use for the campaign, and his family to win local elections because the election in the Philippines is very costly many candidates are buying votes to secure their win, there were reports that he murdered their family's opponent because of e-sabong.
Do you think that government should have a rule or a law for election candidates not to have a franchise in any form of gambling, in fact, there are a lot of politicians who are operators of illegal small-town lotteries this is to accumulate funds they can use for election campaigns.

The trouble with politicians getting involved in such companies is huge because gambling sites make huge money with a lot coming in and little going back out again. Politicians should be banned from any connections with certain industries because they can have a large influence on laws designed to regulate them. They can also direct pressure against competitors and make it an unfair environment, maybe directing some sort of police harassment. It's a recipe for disaster really and becomes a dangerous cycle, where they use the money generated to climb up the ladder to become even more powerful. Even the biggest countries with the strongest systems struggle with these conflicts of interest.
1130  Economy / Economics / Re: As an Economist how do you tackle inflation? on: May 12, 2023, 10:14:55 AM
The price of commodities are becoming more scary by the day. As an economist with lots of bills to settle how do you deal with the price hikes, the expensive cost of living, The fluctuation in volatile assets and the demand to meet our every day needs.

Most nations are facing currency devaluation, economic downturn, Static GDP and slow revenue generation. What are your secrets for meeting the day to day expenses regardless of the inflation.

Currency devaluation is a funny one really, because countries like America and China aim for this all the time. America in particular has sold a lot of debt, so it they're able to make their money cheaper that debt is worth less and becomes easier to pay back later on. However for other countries, who are unable to sell debt in their own currency, having their currency devalue can be devastating especially if they import a lot from other countries and have to pay much more. It's a tricky game.
1131  Economy / Gambling discussion / Re: sending bank statement for verification on: May 12, 2023, 10:09:33 AM
i registered at an online casino and my deposit was not arrived(in casiono) and i contact to their support and they said you need to wait for 10 business days for your refund.

10days are completed and i still didn't received my refund, and they told that "if you don't receive your refund in 10 days then you can contact us with your bank statement"

my question is, is it safe to share bank account statement for verification purposes?  the site is reputable, but in bank statement all my information are available. is it safe to share?

Identity fraud is quite big business at the moment and casino's face all sorts of dirty tactics where people abuse special offers with multiple accounts. It ruins it for everyone else so those fraudsters are the ones to blame and forced them to get stricter with verification. If you're comfortable handing over an identity document to a gambling company then you should be equally comfortable with sharing bank statements, because they will be (or should) be treated with the same level of security.
1132  Economy / Economics / Re: Looking for online investment method for 50$ daily on: May 11, 2023, 07:38:58 PM
Looking for investment method for 50$ daily

Is there online investment that return 50$ daily

There is no easy or quick way to make this much money online well - not one that is going to be shared freely. Anyone that does have such a method will milk it for as long as possible, because more competition will push down their reward. You need to find or carve out your own niche, not expect a ready recipe to be handed to you for no effort. Be very wary of anyone who claims they have such a method because it probably involves scamming you or others for money.
1133  Economy / Gambling / Re: Limited in every bookmaker on: May 11, 2023, 07:34:29 PM
Unfortunately, I dont have idea where to make a betting account,
I was limited at almost every crypto or online bookmaker.

If you have losing account on bk88, betnomi, roobet or even some normal online bookmaker, reply me here or in inbox.

I have an offer you can't refuse

An offer you can't refuse is a threat from scarface. It's more like an offer that you should refuse if you don't want to lose money and potentially be sucked into a fraudulent deal that is most likely to end up with the poor victim seeing financial problems while you run off and hide. The reason you were banned is because you are doing something that breaks the contract and gambling companies are much smarter than you, it is simple. Anyone who takes up your offer will suffer.
1134  Economy / Economics / Re: Why do people stay poor? on: May 11, 2023, 07:31:17 PM
I have always wanted to ask this question is it that there is no opportunity or they do not want to get rich
Mate please more to this I am confused here.

Education may be able to elevate you higher than your parents were able to achieve, because standards are generally raising higher over the decades. However things like a poorer diet, the lack of experience opportunities due to lower salaries of your guardian and potentially less nurturing due to them having to work longer hours are among small factors that can collectively build towards a stunted growth experience compared to peers with richer parents.
1135  Economy / Gambling discussion / Re: Questions of the day for gamblers on: May 10, 2023, 08:01:44 PM
If a online casino claims to be a decentralized platform does this mean that their games are fully decentralized too?

Do you guys know that some casinos regulates their own slots machines themselves, can you gamble with ease of mind on such casinos?

If slots games is all you are good at, are you really good at it or you are just lucky? Can you use the word 'good at it' with slots game?

What is the most convenient games you play on gambling platforms?

Is using leverage about luck or skills? Or even a rigged game?

Using "leverage" has no meaning in gambling because you have no influence or knowledge of the outcome. Leverage is an empty illusion, another gimmick buzzword that casino's work into their narrative to pretend that the customer has any degree of control. If one party exists to take money from the other, and specifically engineers that outcome, then leverage has absolutely zero meaning. It simply means that you will lose your money faster if it multiplies your losses. It's always a rigged game when no skill is involved.
1136  Economy / Economics / Re: Bittrex Files for Bankruptcy in Delaware on: May 10, 2023, 07:45:10 PM
I am not skeptical but now I have started to think that US is really looking at down side of the crypto currencies throughout the continent. Now if someone is really trying to convince me that congress had meet up regarding the bitcoin and have plans for proper infra structure then I would simply laugh on that.

This is a 5th case in the US alone where giant exchangers, banks, and other type of financial institutes have been strictly monitored, dug out for unreal information, had worst tax evasion complaints and finally making them go bankrupt as the investors lose faith due to such allegations. A similar case is now popping up and its well known exchanger Bittrex.

In Bittrex case, it was none other than SEC who sued them and months after trial and testing Bittrex goes for bankruptcy filing.

Key Points:
  • Liabilities: $500 to $1 billion
  • Lay off 80 employees in february
  • SEC sues Bittrex CEO and Global CEO
  • Lack of regulatory clarity in the U.S.
  • They still posses 100% customer funds

Congress meeting to come up with a plan for crypto infrastructure, eh? Crypto is meant to be decentralised, why would you want them involved in deciding the future direction of it? The less interaction they have in its future the better quite frankly. There is however a bit of naivete involved here as well, as if crypto related entities can do no wrong and that somehow any government clampdown is a bad thing. That's incorrect and it's good that regulators are casting an eye over these companies that are accepting hundreds of millions in deposits and taking action when necessary.
1137  Economy / Gambling discussion / Re: Another side of Sports betting you may not know about on: May 10, 2023, 06:56:56 PM
Quote
Congress has long-recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events.

This topic stems from the suspension of Jameson Williams for 6 games because he violated the gambling policy. I dug a little and found out the reason for the policy. My understanding of this is that there are two sides to sports betting, the gambler's side and then sports contest games. But this is the first time I am reading that sports betting can affect the game negatively and results in reduced public confidence. Does this apply to the NFL only? What about soccer and other sports? Are they exempted? Let's talk about this.

Any time bet rigging is found the consequences should be very severe (and often are) because it is such a devious way to defraud, but also very hard to gather evidence on. We only hear about the successful prosecutions, sometimes based on atrocious or completely unexpected playing patterns, but there will have been plenty of bet rigging involving sport participants that has gone undetected in the past. It can make all parties quite rich if done very subtly and often only betting companies see the major red flags but might still not have enough proof to escalate.
1138  Economy / Economics / Re: How to increase profit in business on: May 10, 2023, 06:53:24 PM
From my experience as a business person, in buying and selling, I have discovered some helpful tips on how to increase profit. I an happy to share some in this forum.
Customer relation, a business person must understand that customer is king and should be treated like a royalty. Even it they are buying the least thing in your shop. When they leave your shop delighted, be assured that they will always come back to patronise you. And they will even market your products to their friends. Meaning more patronage for your business which will be increasing your profit.
Your business should have at least one season when you give out rewards and discounts to customers when they buy your products. This will increase your sales geometrically and when you remove the cost of the reward and discounts, you will still have increased profit.
Stock different brands of the products that you sell. Customers will prefer to enter a shop where they will see different varieties of what they need. More customers will enter and will even be tempted to buy more than they planned for. More customers equals more profit.

Please feel free to drop your own ideas on how to increase profit in businesses.


Re-evaluating your product and services line on a regular basis should definitely be part of any successful business strategy. For example if you've got ten product lines but 90% of your profit is coming from a single product, then it might be worth ditching the other 9 products and focusing all your efforts on the most successful one as boosting that will bring much higher profits and you'll not be wasting time elsewhere.
1139  Economy / Gambling discussion / Re: The madness of gambling addicts. on: May 09, 2023, 08:53:37 AM
Quote
A Shanghai man was sentenced to prison for kidnapping his own granddaughter so he could maintain his gambling addiction with the ransom money.

The kidnapping — orchestrated by a 65-year-old man identified only by his surname, Yuan — was first reported by the Shanghai Law and Rule Journal. The legal news outlet didn't specify when the incident occurred but wrote on April 18 that Yuan had just started serving his prison sentence.

Yuan kicked off his plan by picking up his four-year-old granddaughter from her kindergarten and taking her out to eat and shop without her mother's knowledge, the Journal reported.

many gambling addicts have lost their minds because their desire to continue gambling overpowers their common sense, hence the importance of "gambling responsibly"

Quote
There are three licensing objectives which support the whole basis of gambling regulation:

- that crime should be kept out of gambling
- it should be conducted in a fair and open way
- children and other vulnerable persons should be protected from harm or exploitation from gambling.

We see this sort of criminal activity in any strong addiction and it is very damaging for the communities who have to put up with it. It would be better and probably cheaper to treat all these people as a health problem instead but also far before they get to the point of stealing to fund their habit. If people want help there should be plenty of resources to fund it, but ultimately there will always be people who take their habit to the extremes and not much can be done to help society except keeping them incarcerated in prison.
1140  Other / Politics & Society / Re: Is a new pandemic imminent? on: May 09, 2023, 08:36:17 AM
Who has officially canceled covid, I think this is a big turnover of money in healthcare, but there are many indicators that a new pandemic is possible. To what extent does this correspond to reality, measles is also multiplying, will the world be covered by new diseases on a large scale? Or is it an economic process?

Imminent? Not necessarily but it's still a major threat that has not gone away. It might be in a year, it might be in 50, but it will likely happen again because viruses and bacteria are always evolving as they pass through different bodies. They learn, adapt and overcome as they try to simply survive or even increase their infectability. The climate is also changing which could mean that some viruses that previously did not transfer well could start to exist in new environments. The interconnectedness of the world today means that it can spread on a scale never seen before.
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