Do Owners of betting companies bet?

[Casdinyard]

I think so yeah, but they probably do no bet for the money, perhaps kust for the hell of it. Might even be the case thatcthey bet in their own company using a pseudonymous name just so they can check and micro manage every feature and perk that they want to offer. It has happened in the past at least. It could also be the case where notable figures play in their casino and to keep them company the owner sits with them on the same table to make acquaintances and socialize, although this is primarily reserved for land-based casinos only. Either way owners betting on their own casinos isn’t so much as a far-fetched idea per se.

[Westinhome]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

The owner of the betting companies may be place the bet to check the performance of the site and to find the exact movement of the algorithm performance to the other people.The gambling owner only do the check test,but need to understand the fact the gambling owner won’t do the place of their bet into the other gambling sites and it’s not the necessary one at all.If they want to play the gambling,they will move to the real offline gambling sites and had their own real gambling in the offline mode.The reason for owner bet was to check t the beginning at they won’t follow at the end of the game in the gambling.

[uneng]

The owner of the betting companies may be place the bet to check the performance of the site and to find the exact movement of the algorithm performance to the other people.The gambling owner only do the check test,but need to understand the fact the gambling owner won’t do the place of their bet into the other gambling sites and it’s not the necessary one at all.If they want to play the gambling,they will move to the real offline gambling sites and had their own real gambling in the offline mode.The reason for owner bet was to check t the beginning at they won’t follow at the end of the game in the gambling.

Not only that, but a casino owner can also gamble because he enjoys the thrill of betting or to promote his business, like Stake's owner has already done promotions where he gambles side by side with his customers and offers special bonus and advantages on the bets he takes part in. There are different reasons why a casino owner may wish to play himself that go beyond the technical side of checking if the platform is working correctly or if there are any bugs happening. Anyway, it would be really ironical if a casino operator got addicted to his own games...

[7788bitcoin]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

If you start a casino, will you set a policy to restrict you from gambling ? As a owner you can do whatever you want as long as you are the owner as these are private business and you set the policy and rules and there is nothing unethical unless you start scamming your own business.

[CryptoHeadlineNews]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I'm not that deep into gambling policies, or neither am I a lawyer who specialized in that area., but with the few knowledge I have, I just think for the Owner of a betting company to gamble on it's betting platform is not a big deal in the first place, because literally he owns all the money and could pay himself if he eventually wins, and likewise the he loses have his fund deducted just like every other normal gambler, just like what most business vendor does by paying for those bought from their own shop just to ensure accurate record of goods by who so ever placed in charge of it.
So for me, I don't think it is any big deal

[AmoreJaz]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

If you start a casino, will you set a policy to restrict you from gambling ? As a owner you can do whatever you want as long as you are the owner as these are private business and you set the policy and rules and there is nothing unethical unless you start scamming your own business.

this aspect i believe is hard to know the truth. as these owners won't reveal if they are also betting or not. but the likelihood may be high especially if those persons are rooting for certain sports or team, as they will likely place their bets as well.
and besides, they will surely try as well some of the features of their site. that is to know also the feel of playing on their site.

[klidex]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

If you start a casino, will you set a policy to restrict you from gambling ? As a owner you can do whatever you want as long as you are the owner as these are private business and you set the policy and rules and there is nothing unethical unless you start scamming your own business.

this aspect i believe is hard to know the truth. as these owners won't reveal if they are also betting or not. but the likelihood may be high especially if those persons are rooting for certain sports or team, as they will likely place their bets as well.
and besides, they will surely try as well some of the features of their site. that is to know also the feel of playing on their site.

yes, maybe occasionally the owner uses their own site to try out what new games they are marketing, with that they can master the type of game they own, to be honest I don't really know and I'm just guessing, and I think maybe when the owner feels bored they also gamble with the aim of having fun, not to make money because they are well aware that they have made big profits because they are the provider of the gambling platform. Participating in gambling activities can increase the enthusiasm of other gamblers if the owner also experiences gambling on his own casinos platform.

[angrybirdy]

Do not forget that he is the owner. He can do whatever he likes. If the owner of a gambling site wants to gamble, he will prefer to use his own site that will benefit him to have fun than to gambling on the gambling site of others that will not benefit him.

I see this as off-topic though.

I don't think the owner will prefer to gamble in his own site because there's a Terms and conditions prior the gambling and I think that would result as a conflict of interest since he is the owner, though im not sure of that but for me it's basically prohibited.

[Sunderland]

Do not forget that he is the owner. He can do whatever he likes. If the owner of a gambling site wants to gamble, he will prefer to use his own site that will benefit him to have fun than to gambling on the gambling site of others that will not benefit him.

I see this as off-topic though.

I don't think the owner will prefer to gamble in his own site because there's a Terms and conditions prior the gambling and I think that would result as a conflict of interest since he is the owner, though im not sure of that but for me it's basically prohibited.

The answer is Yes and No, the reason for Yes are:
1. The owner want to make the site looks alive.
Any decent bet amount will always become a topic on the chat, no matter who is the bettor.
2. On a small and unfamous platform the owner need to raise the total wagered on the platform, for what? Prestige or own satisfaction or to show the investors that the platform has a good turnover.
3. The owner need money, and he will play on other platform same as ordinary users because the portion of the bet on his own platform might not count 100%, depends on the agreement with the betting provider.
4. The owner place bets for event and giveaways to their users.

For No:
1. The platform already big and famous
2. The owner already rich and famous
3. They prefer to stay low, only watch everything behind the curtain.
4. Tax or they coming from the country where online gambling is ilegal.

[Wexnident]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I highly doubt there'd be anything unethical about it since if there actually was, no matter the level (low or high) of being unethical the casino is, it stands to remain that the casino is doing some really shady stuff so no, they probably don't have anything against their owners betting on their own casino. I mean, it's still their money really, maybe a bit fewer but hell, with the amount of people that bet on a casino regularly I don't think they'd mind.

Unless, ofc, they just wanted to add that to their company laws or something. Wouldn't be that far off if they actually do really, some companies have weird laws anyway.

[Hirose UK]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

It doesn't seem like it because what is the point of gambling business owners like this betting on their own platforms and they of course just by doing business have made so much money that there is no profit in betting.
Maybe some gambling business people still bet or gamble, but it just entertainment to be able to laugh and drink together with their business partners no longer to make some winnings.
If we can reach the point where success in business and large amounts of finance can be achieved then we can understand what I am saying and it is no longer important to think about winning at bets.

Moreover, if the owner makes bets on their own platform and is known by the team or staff at the casino then it looks less ethical, as if he were risking money to get money that he already has in his alone casino bankroll.

[noormcs5]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

Let's first understand one thing. If we win any bet the casino will give us the winning amount from their pocket. On the other hand, if we lose any bet, our bet amount goes to the casino.

Now come to the point. If the casino owner bets on his own site, in case he wins, he will give himself the winning amount and if he loses, the money still stays with him. So logically it is useless to bet as a casino owner, as you are playing with your own money. Yes, if he bet on some other sites other than his own, then he can win or lose the money depending on the result of the bet, Because, on other sites, he will just bet as a gambler only (as he is not the owner at other gambling sites).

[Accardo]

It's a personal choice and a good number of people you expect to answer your question don't own a gambling business. But, looking at the lifestyles of gambling shop owners they mainly focus on running the business and attending to customer's problems. Not everyone feed on their product. It'll be at a minimal, as it'll look like cheating on themselves. When they win or lose, it doesn't count.  Though, in the movies, gambling owners do participate in board games to at least keep their customers entertained. Hence, in real life, people tend to continue playing when they see the owner also participate in games. In other words, few of them don't gamble, but, when they do, it could be a marketing strategy.

not seen an owner sitting on the table to play but i guess to fill one chair i guess he can join so that it appears there are players.  why not, they have money to spend. the baccarat game and the likes are like the owner/casino vs players.

they were hiring influencers to play on their website to promote the casino as well. the money used by the influencer comes from the owner, i think this is just like him playing in his own casino. the purpose is just different though.

Similar to what I referred initially as promotional purposes. And when the owner plays such games as baccarat it's like competing with himself. Which is not considered gambling anymore. Only a few of them do play table games, that's why most people like yourself may not have seen them play. Yet, it's important for the owner to occasionally gamble, so that he can effectively communicate with gamblers with terminologies understood by them. This will help retain some customers. Especially when in an offline casino settings. 

[|MINER|]

In my opinion, a gambling or casino website owner can manipulate his casino website in any way he wants, but the ones that casino owners can do this with are not trusted. But the owner of the casino company can certainly gamble as he sees fit but not abuse his power, I don't see anything wrong if he gambles in his own casino for fun purposes. Moreover, the casinos who provide the game software companies should take care that the trusted game providers must keep the third party manipulate option off.

[Z390]

He could, but to his own advantage, he is the owner so he is above all rules and regulations, but who dares go to the table with him? You can't win such person unless they decide to just have fun with no money involved, It is not common to see casino owners gambling in their own business, for them it's always about money, the question is why would they want to gamble anyway? Most of them don't come around, they are always far away from the casino.

They have managers doing the whole operation for them, remember that they don't lose money, only gamblers lose money, so I don't see any reason for them to gamble unless they are a fan from the beginning even before they become a owner of a casino.

Few casino owners in my country are only known by their name, till this day no one can say or describe how the casinos owners look like in person, if a casino becomes successful the owner turn into the set of powerful people, they will surely choose to stay far away and watch things from afar, they will never come around, if they want to gamble they will do it in their mansion.

[Spaceman1000$]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I've not see or stayed close to the owner of a betting company before, those guys are millionaires, you can hardly meet them randomly, so I cannot categorically say they play bet on their own company or not.
But I believe they might not play, because I feel is more like deeping your hands in your own investment or collecting from it.

[STT]

Running a business itself is a form of betting, all investment has risk and is a gamble on a variety of factors many beyond your control.  Often debt costs are not perfectly secure and known for the duration the business will need to borrow, quite a few businesses always operate leverage so are always taking on risk in the hope of enough profits to repay that debt.
   I think this question is more about accountancy perhaps, can the CEO just use money from the till without telling anyone no because thats really not legal.  He cant just bet without paying off losses but surely the CEO never has the option of a bet refused.  Could they alter the odds unfairly so they always win, again I view that answer through the balance sheet because it would be like taking money you havent earnt again not legal.
   A CEO could cook the books and all sorts of alterations to a business but its not allowed; I read about all kinds of office workers or those in finance doing things they arent supposed and they get found out usually so not a smart move.

[Saisher]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

Is there a way to know that an owner is betting on his own platform unless there is a leak and the people can trace him because gamblers can hide their identity until they agree to do KYC, he may play and bet on his platform to check the platform as a player because there is nothing in their terms that says that they cannot play on their own platform, and I don't think it's unethical if they choose on their platform as long as they abide with the terms of his casinos and they interfere wiht the operation and act as a normal player with no influence on the outcome of the games he is playing.

[redsun114]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

It depends on one's interest, however, I don't think that a person would choose their casino for their gambling activities. If they are into gambling, they like spending some time and money on gambling, they would probably choose another platform for that. There might be some that may use their casinos as well and I don't think there is anything wrong with that since they own the establishment and whether they win or lose, the money still goes into their pocket at the end of the day.

However, I don't have any factual knowledge about this matter to know whether casinos have any policy or rule regarding this thing that doesn't allow the owners or anyone from the management or employees to use the platform for their gambling activities, there might or might not be.

[Nerdy doctor]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

They are free to bet just like everyone else. It all depends on the games they stake on. They may have no control and interest in certain games and they’re just as lucky or unlucky in those games.
I think they do bet but are more wise and careful themselves. They run a casino that takes peoples money a lot more than they pay out wins. That alone should tell them that if they keep at it, they’re likely to lose money and go bankrupt.