Do Owners of betting companies bet?

[maydna]

~snip~

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

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[Marykeller]

Yeah, they do but it is always in rare case for someone to see a casino owner partaking in their own gambling company. They one's that those, always do it in secret with their cartel friends not openly when they are seen, or even better, they move to a different casino where they are not known by anyone.

[madnessteat]

~snip~

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

It seems to me that big business owners, which I include casinos, can get dopamine even without gambling. When you see your bank account balance increasing on your monitor screen every day, you hardly need this kind of entertainment. You are constantly in an elevated and euphoric mood. I think such people have more pleasant options for spending their leisure time. Such people know the value of money and use its value as much as possible.

[noormcs5]

~snip~

It might be in the ethics of gambling that the owners and workers don't gamble, I wouldn't know the reason why, but I'm guessing that they know the implications of being addicted in gambling, perhaps they'd rather have their customers do the gamble and be addicted while they can be more focused on collecting the money. I have a friend that worked in a sports bet company, he told me that as workers that they're not permitted to bet, I asked him why and he replied that it's the instruction that they're given. He also told me that if they want to bet, that they do so through a second party, so I concluded that bet and casino companies knows that loses are greater than winnings and they don't want themselves or their employees to be distracted, in the case of loses that'll affect their work.

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

It seems to me that big business owners, which I include casinos, can get dopamine even without gambling. When you see your bank account balance increasing on your monitor screen every day, you hardly need this kind of entertainment. You are constantly in an elevated and euphoric mood. I think such people have more pleasant options for spending their leisure time. Such people know the value of money and use its value as much as possible.

We need to know why we bet or why people bet and the main reason is that people want to win the bet and gain money.
The gambling casino onwers are rich already and they do not need to bet in order to win and earn money. They are already earning good through the betting site, they do not need to go to another site and bet.

Betting is risky and not as profitable as being a bookie or owning a gambling casino site. In my point of view, the betting site onwers may not gamble themselves but provide the services.

[AbuBhakar]

We need to know why we bet or why people bet and the main reason is that people want to win the bet and gain money.
The gambling casino onwere are rish already and they do not need to bet in order to win and earn money. They are already earning good through the betting site, they do not need to go to another site and bet.

Being rich is not a good reason for owner to don’t gamble or not use other casino. They enter the casino business industry because they love gambling which means they are playing too. Most of the time people want to have a change of atmosphere that’s why they try other competitors casino to scout or have different ambiance on game because playing on your own casino doesn’t really feel like gambling because you own the casino bankroll too.

I really believe that owners play gambling during their free time including visiting other casino.

[Unbunplease]

Being rich is not a good reason for owner to don’t gamble or not use other casino. They enter the casino business industry because they love gambling which means they are playing too. Most of the time people want to have a change of atmosphere that’s why they try other competitors casino to scout or have different ambiance on game because playing on your own casino doesn’t really feel like gambling because you own the casino bankroll too.

I really believe that owners play gambling during their free time including visiting other casino.

I think casino owners visit other casinos just to see the different innovations and implement them in their casino. In fact, there is no other point in visiting other casinos, because the set of products offered does not differ much from one casino to another

[Synchronice]

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.

Does McDonalds owner eat in McDonalds? Sounds like this question but gambling is a little different business. I am not 100% sure but I assume, owners of betting companies don't bet on their own platform because it can be against the interest of other investors and probably their internal company policy might prohibit them from doing this. By the way, I think we should keep in mind the country where casino is located. If it is in a corrupt country where crime is high and rich people want to feel like a gang bosses, then they might bet in their own company to look cool but in normal companies, that doesn't happen I assume.

[Issa56]

Yeah, they do but it is always in rare case for someone to see a casino owner partaking in their own gambling company. They one's that those, always do it in secret with their cartel friends not openly when they are seen, or even better, they move to a different casino where they are not known by anyone.

Seriously, I haven't seen or heard any gambling site owner gambling. In my country, you won't even get to meet gambling site owners because gambling sites are always established with high capital, so only influential people are able to create gambling sites, so you won't get to see them easily. So even if they are gambling, then you won't really know about it, and if they are gambling, they will be doing it just to have fun, and they won't be gambling for the sake of money, because I know most of them will be gambling on their site, and nobody will even know about it.

I think casino owners visit other casinos just to see the different innovations and implement them in their casino. In fact, there is no other point in visiting other casinos, because the set of products offered does not differ much from one casino to another

Sure, you are right. Casino owners do visit other gambling sites just to see the latest updates on those sites so they can implement some of those futures on their own site, but they won't gamble with a huge amount of money, they might just deposit a small amount and be gambling with it just to compare other gambling sites with their own, but they won't be gambling just because they want to make money.

[GxSTxV]

In your question there are many things you didn't understand maybe, the platform (Casino) and the sportbook are two different things, unless the casino owns a sportbook. So to answer this you nees just to imagine the owner as any other player that set a bet, the money goes to the sportbook first. If the bet was successful I believe both the casino and sportbook are both responsible to pay the player's winnings, the same thing when the bet is lost in this case both of them share the initial bet amount.
Now, imagine the owner of the platform now is betting on his own platform, similarly to what I mentioned above. Except that, in case the owner won the bet he will still lose half or a percentage (depends on how much the sportbook takes).

So, it's not a good idea for owners to bet on their platform. They can bet in orher platforms to receive the full winnings.

[Raflesia]

Having your own casino business is more profitable for casino owners because they can make a lot of money. We know that this gambling business is a big business that can provide big profits for the owner. A casino worker is not allowed to gamble at the casino where he works. But maybe that is an exception for the casino owner, especially if it is an online casino because the owner can create a new account for himself to gamble so that no one knows that he is also gambling at his own casino.

And there is a possibility that casino owners will visit other casinos to gamble. This will be even easier if it is an online casino because the casino owner can gamble at any online casino without anyone knowing that he is a casino owner. But if it was an offline casino, there's a chance some workers from other casinos would recognize him.

A fundamental question. What are they doing that for?
I think they know that the conditions that occur in the sites and gambling that they develop have a much greater loss ratio and apart from fun I think there is no reason for the owner to do that because in the end he must also realize that apart from wasting time, this is also not profitable for him so in this case when a gambling boss is gambling on their own site it just indicates that he is bored so he is doing something that is not useful for him.

They are businessmen and I don't think they have more free time just to gamble at their place unless there are some urgent matters such as wanting to try out the site they are developing or indeed just to fill boredom.

[Odusko]

I'm sure they do and they probably but given that they're a businessmen, I don't think they have the time to think about betting or even analyzing the right teams to pick and players to bet upon. Not to mention that it's also a big eyebrow raise if they're betting right? Because some might think that he's got an insider information on who's going to win anf it's going to be a scandal even if that owner is innocent.

I also dobt believe that, casino owners will have that luxury of time to gamble, since the business would have kept them engaged, many time we think that since it their line of business, they will fine it easy win, but games analysis is something that have to involve alot of time on building the knowledge and information on various games and for that, casino owners may not be abke to sacrifice such time unless they dont run the casino themselves.
But if they do, having to combine gambling and operating a casino may lead to a serious mix up which could affect the overall satisfaction of the individual involved..

[Docnaster]

I think most of them do not place bets, because this can lead to the destruction of the business if you get too carried away with it. The owners know perfectly well how their business works, and if it is a profitable business, then why all this? They can also place bets and show how they play or test new games. I have been following one public gambler for a long time; he lost huge sums, but at some point he decided to open his own casino. Now he has moved to live in Portugal and is buying himself expensive cars. Despite this, he continues to place bets, because his business allows him to do this and he is very happy with his life. Still, there are very few public casino owners and we cannot know complete statistics on their bets, but it would be very interesting to take a look at this.

The op asked this question because he did not understand the power of ownership. Once you recognise the owner of something, it therefore means that the owner has the right to do whatever things he wishes to do with his possession. Asking if the owner of a casino can as well gamble in his casino. Whether or not it is ethical is just like asking if the owner of a grocery store has the right to purchase goods in his own store. The question doesn't correlate very well of course.

Where the importance should be placed is if the owner actually uses money to play or he gambles for free as the owner which we know too well will be very detrimental to the business.

[Accardo]

If the casino dealer is watching over all the operations happening in the casino, he would restrict anybody from cheating the system. Including the owner? not sure, the only confusing thing right now is the relationship between the casino and the game providers. Don't know if the casino would be able to manipulate results from a game provider's server. As these two parties are different and have some restrictions. There are some things a casino can't do with a gaming provider. Take for instance a game provider that can restrict people in a specific location from playing their game, while the casino allows for anybody to use the casino. But, when it comes to that specific game provider the player has no right to participate in such game, except with a VPN. The provably fair system has to do with the casino, not the gaming provider, this is where I don't understand what happens, in terms of the results we get from a casino.

According to research, the casino controls the results, but the provably fair system would still be there to make sure that the house edge allows players some time to win. Hence, it's quite complicated to know the kind of treatment the casino boss or owner would be getting in terms of results. Another common example would be the streamers, we have rumors floating around the gambling niche that streamers get favor from the casino to win more than the players who join the casino to wager games. I think the casino boss would have to decide what happens or for some reason won't derive joy from using his casino. Maybe he'll be interested in other types of games or participate in a higher level of gambling, with top gamblers or fellow casino owners. I always have this feeling that they'll be focused on buying games and helping the bookmaker with football odds to place on some specific teams to maximize profits.

I see that point and it is possible that casino owners can deal it with the provider, just with how we are seeing those streamers who manage to win just for the sake of advertisement and to attract gamers to use the platform, I'm not sure about the set up and if it's really for real I guess it wrecked the purpose of fair gaming.

Though, maybe there's internal setup with this kind of situation and depends from how both the owner and providers negotiation about this adjustment from the gaming system.

Since they work together, you are right, they'll have a way of reaching to an agreement that allows the casino some authority over the results of the game. Atleast to keep the casino from going bankrupt. Running a casino is quite risky, hence if the casino is not in control of the results, players may be winning too many times and running down the funds of the casino. These things happen behind the scenes but still leave the authenticity of provably fair, questioned. Casino promises with the use of provably fair features, the gambler has a transparent result and doesn't have any reason to bother about manipulated results. And the rumors of the streamers have been too real recently, as those wins are becoming more often than any average gambler may have experienced. As for the CEO on second thought, he may not be given any much privilege to receiving a made-up result.

The business is his, so no need for that, I just thought about it from this perspective. A bookseller doesn't need to pay to read his books. But if he's in a book shop he'll buy those books. If the casino owner is playing using his account he can fund his account the same way he does for the streamers. But, if he's playing using a different account to enjoy the fun of gambling, he'll pay to gamble. Because if he's seeing more manipulated results, the owner won't be able to enjoy the fun of gambling. The money he wins still goes back to him as the owner of the casino. So, gambling wouldn't freak such men anymore. That's why in my response, I said that they engage in other activities meant for casino owners. Additionally, they'll be very busy managing the business, handling complaints, and maintaining the authenticity of the casino. Even if they gamble, it won't be on a regular base.

[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.

I do not think that it is necessary for an owner of a gambling company who takes people's money to begin gamble again. They make the bigger money by being the owners, so why would they want to waste their monies again. Incase of the purpose of having fun, they can bet on their platforms. Mind, when they are betting, they aren't doing so as the owners but as a gambler because on the front screen, they cannot determine what happens behind untill they are there.
But if you say I should take a same opinion or my personal opinion, I would say that majority of casino owners do not even gamble anymore. They might be gambling before owning the casino but might eventually stop gambling when they start making monies from people.

Maybe what you say is true, the casino owner seems to have stopped gambling or stopped gambling because he has pocket a lot of profits from his users, so even though he gambles, in my opinion, the winnings or losses are his own because the gambling is his, but there are also owner who participate. carry out gambling to encourage users that they are also taking part in gambling so that user will also become more enthusiastic if they see the casino owner also doing the same activity.

However, even though the casino owner gambles, they may consider it just for fun, they don't really consider winnings or losing to themselves because the casino belongs to them and the money will go back into their pocket, even though it sound like a waste of times, this doesn't matter if the owner continue to gamble, after all, the winnings can be achieved in manipulation, for example, if the casino owner plays bets with the user, the owner may already know the result and that can make more profits by gambling as the owner.

[Obari]

I think I’ve also read about similar puzzle about allowing casino owners gamble on their casinos and I think it is not totally legally permitted for a casino owner to gamble for some severe gambling reasons and just like the cases with players and boxers not betting on their matches, I think same thing also applies to cases like this and I personally don’t think it is right for a casino owner to even gamble for the first place not to even talk of gambling in their casinos

~snip~

I think casino owners visit other casinos just to see the different innovations and implement them in their casino. In fact, there is no other point in visiting other casinos, because the set of products offered does not differ much from one casino to another

I think there are several reasons why a casino owner might visit other casinos and you already stated one already and aside that I think they might also want to get to see and compare things themselves not because they don’t trust their team but they want to be certain and try to do everything to stay relevant

[maydna]

It seems to me that big business owners, which I include casinos, can get dopamine even without gambling. When you see your bank account balance increasing on your monitor screen every day, you hardly need this kind of entertainment. You are constantly in an elevated and euphoric mood. I think such people have more pleasant options for spending their leisure time. Such people know the value of money and use its value as much as possible.

Those who see additional money entering their bank account will make it fun entertainment because they see more money entering their account. Yes, they don't need any other entertainment, and they may not even be interested in gambling. That could be what rich people experience who only look at the monitor screen to check how much money has entered their account. But there are also business owners who need other entertainment by gambling at their casinos or at other casinos, as well as meeting their customers or guests so they can interact directly. This will create an emotional connection between the casino owner and his customers, and this can make the customers feel cared for by the casino owner.

~snip~

A fundamental question. What are they doing that for?
I think they know that the conditions that occur in the sites and gambling that they develop have a much greater loss ratio and apart from fun I think there is no reason for the owner to do that because in the end he must also realize that apart from wasting time, this is also not profitable for him so in this case when a gambling boss is gambling on their own site it just indicates that he is bored so he is doing something that is not useful for him.

They are businessmen and I don't think they have more free time just to gamble at their place unless there are some urgent matters such as wanting to try out the site they are developing or indeed just to fill boredom.

They may visit other casinos to meet with their owners and arrange cooperation agreements in other business areas. A casino owner can do a lot by visiting other casinos, especially when he sees something that can provide him with another source of income. A businessman can see opportunities to get a source of income than most people because their intuition is usually sharper, and they can understand things better. It's not a waste of time for a business owner, especially when he sees an opportunity to make something. He will make observations to gather more information to develop his ideas.

Business people have free time because they have been trained to use their time well. Even though they are in their free time, they can even come up with interesting ideas that can give them the opportunity to open up opportunities to get a source of income. And even just by chatting with their friends, they can get business ideas that will become a new business if implemented. Their way of thinking is different from ours.

[Odohu]

Yeah, they do but it is always in rare case for someone to see a casino owner partaking in their own gambling company. They one's that those, always do it in secret with their cartel friends not openly when they are seen, or even better, they move to a different casino where they are not known by anyone.

I don't think it is logical to think they bet because one will be wondering who they want to win, unless in a case of them betting in a different company. Within the gambling operations and management cadre, the people that gamble actively despite being part of the operation are the agents and super agents. It is easier for them since they are not the owners.

I even see a problem with the gambling operators being active gamblers themselves because it will surely affect their business negatively due to conflict of interest. Assuming some of them develop gambling addiction which is possible, the might use their business capital to gamble and lose it. Of course you know how this will impact the business. So I do not feel the operators should be involved in gambling.

[Raflesia]

A fundamental question. What are they doing that for?
I think they know that the conditions that occur in the sites and gambling that they develop have a much greater loss ratio and apart from fun I think there is no reason for the owner to do that because in the end he must also realize that apart from wasting time, this is also not profitable for him so in this case when a gambling boss is gambling on their own site it just indicates that he is bored so he is doing something that is not useful for him.

They are businessmen and I don't think they have more free time just to gamble at their place unless there are some urgent matters such as wanting to try out the site they are developing or indeed just to fill boredom.

They may visit other casinos to meet with their owners and arrange cooperation agreements in other business areas. A casino owner can do a lot by visiting other casinos, especially when he sees something that can provide him with another source of income. A businessman can see opportunities to get a source of income than most people because their intuition is usually sharper, and they can understand things better. It's not a waste of time for a business owner, especially when he sees an opportunity to make something. He will make observations to gather more information to develop his ideas.

Business people have free time because they have been trained to use their time well. Even though they are in their free time, they can even come up with interesting ideas that can give them the opportunity to open up opportunities to get a source of income. And even just by chatting with their friends, they can get business ideas that will become a new business if implemented. Their way of thinking is different from ours.

In this case the context is different because the original thread the OP asked about was about betting on the site they developed so the statement you made  IMO actually quite off the mark because to be in business and cooperate with business rivals is a different story from betting on one of the sites or casinos owned. As i said earlier there is no clear reason other than those who really have nothing more to do to try to bet where they know that it is only in addition to wasting money it also wastes their important time.

Their thinking is already very different because what they see is only about business not like our thinking as gambling players who only bet for fun and try their luck so there is no reason for them to be on a site that they obviously develop for the profits they make because even if they (business owners) profit it also doesn't really matter because the profits come from the business they develop.

[oktana]

Conflict of interest in his own company? Unethical? Not at all. He owns the damn company, if he wants to gamble too, he will gamble. It’s a service they are offering. Is it a crime if he uses his own service? Uber owners shouldn’t book an Uber ride? It’s his choice. But think of it, Uber owners definitely have their cars, so technically, the owner of the gambling company would most likely have so much money that he doesn’t need to risk anything to earn more money. Just sit all day and make more money. Haha.

Logically speaking, if the owner of a gambling company makes money on a gambling platform that he created himself, of course this is impossible, because he knows what gambling is and he will definitely make money, but if the owner gambles to look for fun or try out the platform that he owns, that is This is normal and there will be no problems that will occur, there will be no internal problems, unless he uses the back keys that he knows in his platform and uses them to gain double benefits.

But who knows, since some casinos do not require self-certification to play, it might happen. I agree with you that the owner not using his own platform is not a problem and as far as I know it is not a rule that the owner does not use it.

How do you mean that there would be no internal problem? How would there even be a problem when the person in question owns the company himself? No one is above him, remember. So maybe if it was an employee, and the company has rules then it’d be wrong to go against the rules. Also, you mentioned using back keys/knowledge of how the platform works, I don’t think any game has a defined algorithm on how it works, as I believe, it is really really randomized (though in a way that favours the company). Even if he could, I don’t see why someone would have so much money and still cheat in their own game.

[maydna]

~snip~

In this case the context is different because the original thread the OP asked about was about betting on the site they developed so the statement you made  IMO actually quite off the mark because to be in business and cooperate with business rivals is a different story from betting on one of the sites or casinos owned. As i said earlier there is no clear reason other than those who really have nothing more to do to try to bet where they know that it is only in addition to wasting money it also wastes their important time.

Their thinking is already very different because what they see is only about business not like our thinking as gambling players who only bet for fun and try their luck so there is no reason for them to be on a site that they obviously develop for the profits they make because even if they (business owners) profit it also doesn't really matter because the profits come from the business they develop.

Actually, not really because many possibilities could happen to the casino owner. We assume that the casino owner gambles on his own platform, and then they meet some business partners or people they already know and then chat. And in that conversation, they have business ideas. We know a businessman has a different view of something and can get ideas to create another business. Another assumption is that they gamble at other casinos, and someone recognizes them as casino owners. They will invite him to chat about many things, and from there, a business idea will emerge between them, which will be followed up at the next meeting.

And there will be no conflict of interest between business owners, whether gambling on their own platform or other platforms. He could instead find a business idea that could give him a new source of income together with people he already knows. This provides opportunities for all of them to work together to realize their new plans. We also don't know whether the business owner gambles on his own platform or at another casino, and that is his secret, which he will not tell anyone.