Do Owners of betting companies bet?

[Hirose UK]

I don't have any close person who owns any betting company, but what I know of is that I have seen all these middlemen in the business bet in their shop but in rare cases. if at all, a betting company owner decides to place a bet on a different betting platform or company from his, then I think there is a reason behind that IMO,  and that looks fishy to me and this act should attract some kind of questions because he should be patronizing his company in the first place.

If we have a friend like that who owns a huge business like a casino, then I'm sure we are not here now in the Bitcointalk forum because we are likely a businessman as well, and you know them, they are always busy. A middlemen might be different from the casino owner. They don't own a casino, but if they know someone who owns it, then maybe they can choose to play on that casino as a way of showing a support.

As for the casino owner, I think it's obvious that they will always play on the other casino because how can they earn a profit if they will only play on their own? Unless if they are only playing to get entertained. That way, they will never lose any of their wealth.

No, if we have friend who is successful in the casino business that doesn't mean we are also successful because no one will ever know each person fate and friendship will never be measured by the success they get.
Example, of course you have quite lot of friends and I sure some of them have achieved success but are still you are still here.
Don't assume that when you have successful friends we are also successful people, that not true.
And the activity of casino businessman may only be checking and monitoring how the business is running so that there is still time to gamble if they want to.
But I not sure they use their free time to gamble because people with huge wealth and successful businesses always have different ways to have fun and get entertainment.

[Rabata]

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 don't think there is any problem if betting company owner takes a bet. Because Betting is an open platform anyone can bet however they want. Casino owners have no laws or regulations that may prevent them from betting. But usually the owners of betting sites are not encouraged to do this because they get a passive income from their site which is risk free for them. Since they are regularly earning huge amount of money from it daily and as their site expands their income will increase so they will always spend time to grow their business. They don't bet like normal gamblers.

[ethereumhunter]

I would guess that owners and their family members not being allowed to gamble at their own casino would not be on their TOS but on the law itself.

As in the case of state lotteries it is directly stated that those that are employees that take part on organizing the lottery cannot participate by buying lottery tickets for themselves or their families, since if this was allowed then there will be a temptation that will be too high to manipulate the results on their favor, and I would guess a similar regulation must be in place when it comes to private casinos.

In the case of the lottery, there are regulations that the owner, his family members and employees are not allowed to buy the lottery. They can buy lottery in other places so they don't manipulate the lottery results. But we don't know about other gambling games. Maybe they still gamble at the casino too

But as a casino owner, your focus should no longer be on gambling but on making money from your business. Casinos are places of business that can provide a lot of profits, especially if the casinos have developed and become increasingly popular.

[Negotiation]

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.

just like drug sellers, rarely will they be successful if they use drugs too so i don't think that the owner of a gambling business actively gambles, he is definitely too busy taking care of his business so he won't have time to gamble, besides that there are many things that must be taken care of if you set up a gambling business, being an active gambler is not something that is easy to control, especially since gambling is a game that doubles your money, but i can't be 100% sure that in this world gambling owners are not gamblers, maybe in other areas the culture is different.

Right said betting company owners do not bet his main task is to supervise all the responsibilities of the company and what is happening to them. The casino environment is maintained and controlled by the casino owner if the casino environment is not good then no one will be able to bet. It is his responsibility to make the environment of the casino beautiful so the owner of the betting company has to control everything well and take care of the gambling so that there is no problem in betting. Maybe he doesn't have time to bet on these duties.

[zuzie]

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.

Maybe, because he owns the company, he can do whatever he wants.
Unlike us ordinary people who play gambling apart from having fun and hoping to win at the casino, the company owner only has fun at his casino, he doesn't need to work hard to earn money just by staying at home and receiving deposits every day from gamblers who who placed the bet.
Therefore, it is no longer strange if company owners have a good or decent life compared to ordinary people who may experience adversity.

[Crypt0Gore]

They don't need to bet because they are already in money, if you see any casino owner that's gambling they are doing it for fun, and I believe that most owners don't even like gambling, they open the business for making money only.

* Owners don't come out in the open, they enjoy their privacy and that's for safety purposes too.

* Even if they are into gambling how will we know? They will rather do it in their room, away from the public eye.

Something just tell me that owners knows how crazy gambling can be, they might even be forbidding their families from gambling, they understand the risks of gambling, I say this because I believe they are doing it only to make as much money as possible.

[Blitzboy]

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.

just like drug sellers, rarely will they be successful if they use drugs too so i don't think that the owner of a gambling business actively gambles, he is definitely too busy taking care of his business so he won't have time to gamble, besides that there are many things that must be taken care of if you set up a gambling business, being an active gambler is not something that is easy to control, especially since gambling is a game that doubles your money, but i can't be 100% sure that in this world gambling owners are not gamblers, maybe in other areas the culture is different.

Right said betting company owners do not bet his main task is to supervise all the responsibilities of the company and what is happening to them. The casino environment is maintained and controlled by the casino owner if the casino environment is not good then no one will be able to bet. It is his responsibility to make the environment of the casino beautiful so the owner of the betting company has to control everything well and take care of the gambling so that there is no problem in betting. Maybe he doesn't have time to bet on these duties.

Yes, the boss of a betting company has a very important job to do: they are in charge of everything. Theres more to this than just "maintaining the environment," though. Putting together an experience, a world where every little thing matters, from the sound of a chip hitting a glass to the swirl of a drink. Owners aren't just monitors; they're also builders who make the world that draws you in. You dont have to bet to be good at gambling. Its the dance of risk and return that makes it art. And with all this planning for the ballet, who has time for a flutter? Finding the right balance between making money and appealing to people is like walking on a tightrope. What does the owner bet? Its on the house, which always wins because its where riches are made and dreams either come true or fail. And isnt that the real risk?

[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.

Maybe, because he owns the company, he can do whatever he wants.
Unlike us ordinary people who play gambling apart from having fun and hoping to win at the casino, the company owner only has fun at his casino, he doesn't need to work hard to earn money just by staying at home and receiving deposits every day from gamblers who who placed the bet.
Therefore, it is no longer strange if company owners have a good or decent life compared to ordinary people who may experience adversity.

What is the incentive of the owner who will want to bet using his own platform? I guess, nothing because, when an owner uses his own site to bet, he will be earning money against whom and in case of the loss, he won't be getting the loss too ?

I feel really odd to understand that a bookie himself doing the bet on his own site. Practically there should be no reason for this and this whole idea is worthless. Yeah, the gambling owner may be willing to bring his friends, and relatives to the gambling site as more people will bet using his platform, he will get the advantage.

[davis196]

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.

You will have to find some owner of a sports betting platform and ask him. Most of the forum members don't have sports betting platforms.
What's the main purpose of sports betting? I think that the answer is "making money". I don't believe that the people are betting on sports just for fun. Traditional casino games are made for fun. Sports betting is more like buying a bunch of lottery tickets and waiting for the jackpot.
If you own a sports betting company and you make big profits, then what's the point for your to make bets on your own betting platform?
This doesn't make sense to me at all.

[topbitcoin]

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 don't think there is any problem if betting company owner takes a bet. Because Betting is an open platform anyone can bet however they want. Casino owners have no laws or regulations that may prevent them from betting. But usually the owners of betting sites are not encouraged to do this because they get a passive income from their site which is risk free for them. Since they are regularly earning huge amount of money from it daily and as their site expands their income will increase so they will always spend time to grow their business. They don't bet like normal gamblers.

It wouldn't be a problem but I don t think they would do something like that because it's fooling themselves because they know that when they play they lose.
I think the perspective of the people behind the scenes of a casino or gambling site they just see this as a profitable business so they just need to organize their business to make a profit because their goal is money not games, Although there might be some fun when trying but if I was in the situation where I was behind the scenes I still feel I would not play gambling games on the site where I do business and this kind of thinking might happen for them too.

[dunfida]

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.

You will have to find some owner of a sports betting platform and ask him. Most of the forum members don't have sports betting platforms.
What's the main purpose of sports betting? I think that the answer is "making money". I don't believe that the people are betting on sports just for fun. Traditional casino games are made for fun. Sports betting is more like buying a bunch of lottery tickets and waiting for the jackpot.
If you own a sports betting company and you make big profits, then what's the point for your to make bets on your own betting platform?
This doesn't make sense to me at all.

Yes, answers wont really be that precise since we arent betting or sportsbook owners on which there's no way on confirming this whether they are allowed to make bets on their own platform or not.
If there would really be some regulation or prohibition in regarding this but actually thinking up on how things works then i dont see for it to be that wrong on betting on your own platform since you do
really own it on the first place, so you do have the full rights on what you should gonna do since its your business. Although there might be some certain circumstances on which they are really that avoiding and might
prohibit out such situation.

It would be great if we would be able to see or confirmation but asking out this question would really be something personal. So highly doubt that there would be
someone who owns a sports book will be answering out questions. Making up some searches online might really be able to patch up
those kind of questions and answers which you neither believe it or not.

[danherbias07]

They don't need to bet because they are already in money, if you see any casino owner that's gambling they are doing it for fun, and I believe that most owners don't even like gambling, they open the business for making money only.

* Owners don't come out in the open, they enjoy their privacy and that's for safety purposes too.

* Even if they are into gambling how will we know? They will rather do it in their room, away from the public eye.

Something just tell me that owners knows how crazy gambling can be, they might even be forbidding their families from gambling, they understand the risks of gambling, I say this because I believe they are doing it only to make as much money as possible.

That's correct.
If I am the owner, I will do the same. I would not let any of my family members gamble in either physical casino or online gambling sites because I know the risk that is associated with it and I know how the system works.
I may gamble but not to the extent that I will get hooked to it because that can ruin my own business. As the owner, gambling only during promotions or for advertising purposes is alright but sitting in front of a slot machine for a long time is wrong.

Let the gamblers waste their money while the owner keeps on taking it all. Business should be taken care of as a business and not because we want easy access to our own habits. It could just lead to bankruptcy if the owner is the one who is taking money from their own pot.

[piebeyb]

Let the gamblers waste their money while the owner keeps on taking it all. Business should be taken care of as a business and not because we want easy access to our own habits. It could just lead to bankruptcy if the owner is the one who is taking money from their own pot.

As long as the casino owner gambles in his own place there is no problem because the money will be returned to him too, after all that seems to be a common thing to do and the casino owner is usually a gambler too, just like the cigarette factory owner doesn't necessarily smoke but the casino owner definitely likes to play too. gambling because it is impossible for a casino owner not to gamble. During that time he was still gambling at his own place, he had kept his business running.

Did you know that every casino needs active gamblers to continue playing and gambling so that it appears on the front screen that there are active gamblers betting, that is the importance of the players or casino founders playing gambling to attract other gamblers to want to try the games at their casino.

[AicecreaME]

I haven't encountered a rule yet that prohibits the owner himself in betting in his own casino website or establishment. Oftentimes, there are casino owners that are even playing together with other people. I don't think it's really big of an issue especially if the owner and the casino already established a reputation in the gambling industry. It could be some sort of advertising as well, blending in with the crowd. Although some people might say something bad or even question whether he's doing it for gain by manipulating the results. But I guess it will be hard to do so, especially that machines are programmed and it follow an algorithm for fairness purposes.

As for me, I think it will be not their priority to bet and play everytime since they have a business mindset. Their goal is to profit and to maximize their knowledge in a way they will benefit.

[moneystery]

it is possible that the owners of these casinos will bet on their platform because it is much better to use their own platform compared to using other platforms. but the question is, why do they bet when they already have a lot of money in their account? it's more fun for them to watch people gamble on their platform and see how the money flows into their bank accounts, rather than having to get tired of betting and not being sure whether they're winning or not.

[Fredomago]

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.

You will have to find some owner of a sports betting platform and ask him. Most of the forum members don't have sports betting platforms.
What's the main purpose of sports betting? I think that the answer is "making money". I don't believe that the people are betting on sports just for fun. Traditional casino games are made for fun. Sports betting is more like buying a bunch of lottery tickets and waiting for the jackpot.
If you own a sports betting company and you make big profits, then what's the point for your to make bets on your own betting platform?
This doesn't make sense to me at all.

On point! If you're already making money, why involve yourself and risk your potential profits? unless you are part of a game fixing community though until now there's no concrete evidence that can point that out, but that's the only thing for me that will make the owner to place their bets, the reason behind of creating this kind of business is to make sure that they will make money, and there's nothing else that's more important aside from achieving it.

[Amphenomenon]

They don't need to bet because they are already in money, if you see any casino owner that's gambling they are doing it for fun, and I believe that most owners don't even like gambling, they open the business for making money only.

* Owners don't come out in the open, they enjoy their privacy and that's for safety purposes too.

* Even if they are into gambling how will we know? They will rather do it in their room, away from the public eye.

Something just tell me that owners knows how crazy gambling can be, they might even be forbidding their families from gambling, they understand the risks of gambling, I say this because I believe they are doing it only to make as much money as possible.

That's correct.
If I am the owner, I will do the same. I would not let any of my family members gamble in either physical casino or online gambling sites because I know the risk that is associated with it and I know how the system works.
I may gamble but not to the extent that I will get hooked to it because that can ruin my own business. As the owner, gambling only during promotions or for advertising purposes is alright but sitting in front of a slot machine for a long time is wrong.

Let the gamblers waste their money while the owner keeps on taking it all. Business should be taken care of as a business and not because we want easy access to our own habits. It could just lead to bankruptcy if the owner is the one who is taking money from their own pot.

True, I don't think any gambling addict can ever be able to manage or start up a casino that will be successful, they gambling isn't a bad thing because they know when to stop, their biggest concern will not just be about restricting their family from gambling but their successor. Their next in line shouldn't be having a glimpse of addiction to gambling or their business is doomed

[zuzie]

Maybe, because he owns the company, he can do whatever he wants.
Unlike us ordinary people who play gambling apart from having fun and hoping to win at the casino, the company owner only has fun at his casino, he doesn't need to work hard to earn money just by staying at home and receiving deposits every day from gamblers who who placed the bet.
Therefore, it is no longer strange if company owners have a good or decent life compared to ordinary people who may experience adversity.

What is the incentive of the owner who will want to bet using his own platform? I guess, nothing because, when an owner uses his own site to bet, he will be earning money against whom and in case of the loss, he won't be getting the loss too ?

I feel really odd to understand that a bookie himself doing the bet on his own site. Practically there should be no reason for this and this whole idea is worthless. Yeah, the gambling owner may be willing to bring his friends, and relatives to the gambling site as more people will bet using his platform, he will get the advantage.

Therefore, apart from self-entertainment, the owner of the company will also make a profit when fighting other gamblers on his own platform and that is not a problem for him either.

This may sound very strange to you, but in reality, some company owners also gamble on their own platforms, whether it is their way of attracting sympathy from their friends or relatives. And besides that, it could be that he is indirectly promoting his Casino platform.

[wxa7115]

I haven't encountered a rule yet that prohibits the owner himself in betting in his own casino website or establishment. Oftentimes, there are casino owners that are even playing together with other people. I don't think it's really big of an issue especially if the owner and the casino already established a reputation in the gambling industry. It could be some sort of advertising as well, blending in with the crowd. Although some people might say something bad or even question whether he's doing it for gain by manipulating the results. But I guess it will be hard to do so, especially that machines are programmed and it follow an algorithm for fairness purposes.

As for me, I think it will be not their priority to bet and play everytime since they have a business mindset. Their goal is to profit and to maximize their knowledge in a way they will benefit.

It is just common sense, if a casino owner begins to gamble at their own casino and they do so at a game in which there is a direct competition against other gamblers, if they begin to win some gamblers may begin to think they are being favored and the game is fixed, and that is a reputation that no casino can afford to have.

So even if a casino owner was just legitimately trying to get some fun like everyone else, the risk is too high as their actions could be twisted and be interpreted differently, and in that case it is better for them to not risk it and gamble at a different casino if they feel like making a few bets.

[EarnOnVictor]

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.

Yes, they do and so are their employees. Everyone is free to place their bet once they have their money to pay, but that's if it's not for a special purpose.

However, it's not entirely for free, regardless, if the boss deposited and gambled in his casino, it's still his money either winning or losing, so it doesn't matter. This subsists unless there is a program specifically designed for that where they can virtually credit the platform with money that will not in an actual sense represent a true asset though reflects and could be played with.

This is possible since it's their system and it might be what they will be using for many purposes including testing. Again, I don't see any reason for a conflict of interest at all, just like someone selling retail goods, they can be an end-user too. Nonetheless, in businesses that are technologically divine like casinos, they often test the platform to detect flaws, text new systems and check for fraud, so they would have provided such means for the boss and some employees to observe and bet within the system, and for free or will be reimbursed.