Companies and individuals everywhere have been affected by the recent financial crisis in America. Banks went under, stocks plummeted, and you can’t seem to find the excess money to enjoy yourself at the casino anymore! It seems like it’s getting harder and harder to have a good time without risking your rent payments these days. What’s worse is that you’re not alone! That’s right, because the average American gambler has found themselves in financial straights and thus can’t gamble at the rate that they once could, casinos are beginning to see their once unfathomably deep pockets run out faster than The Core emptied theaters a few years back. Some casinos are actually in danger of closing their doors if the economy doesn’t start to straighten up and fly right.

Enter Barack Obama, the supposed econo-superman for the new “changing” times. Will Obama’s proposed plans rescue the economy and thus save the casinos from shamefully closing the doors on their legendary gaming floors that have brought so many people laughs, fortunes and good times? Nope! As a matter of fact, if Obama implements the plans he speaks of, it will spell “snake eyes” for casino’s everywhere. Just ask the NRO:

“This is disturbing news on the taxation front. The Wall Street Journal’s Steve Moore says Obama’s tax plan would add up to a 39.6 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 39.6 percent dividends tax, and a 55 percent estate tax. “>In other words, Sen. Obama is a very-high-tax candidate. Whether Wall Street has fully discounted this, I have no idea. Probably not yet. But somebody in the investor class ought to be thinking about it, because it’s not good.”

If casinos are having trouble making ends meet with the way the economy is right now, how can they ever hope to stay open with a 52.2% tax on income? The “tax the rich and give to the poor” mentality has its serious consequences. It is the rich that run business, including the good old American staple, the casino. If they are taxed more than half of their over-all income, Americans may have to go back to the kitchen table to get their fix of cards, because there will be more money leaving the casino than coming in. Seeing as it appears that Barack does not understand that a business needs more income than expenses to keep its lights on, this scary possibility may actually become a reality. It certainly appears that when Barack is dealing the cards, the deck is ice cold.

International investors have been buzzing about the explosive growth potential of this relatively new market. Currently, the global market for online gambling is capitalized at about $10 billion. But even the most conservative estimates predict that figure will skyrocket to $100 billion or more within the next decade. The resulting math is enough to make an investor’s mouth water: if online casino stocks are currently trading at 15-20x earnings, and the above growth actually happens, the market could wind up with a valuation of $2 trillion or more.

Proponents of investing in these new stocks also point to the strength of casino stocks in general. Since 2006 (the year the entire industry fell prey to a witch-hunt against Internet payment systems), casino stocks have rebounded strong and held their ground. The online casino stocks in particular have risen in value even during 2008’s current financial meltdown.

The fact that we are in a global financial meltdown makes this an even better opportunity, since the irrational despair of most people is swaying them away from taking risks on new investments. The relatively few people who take a chance and invest in online casino stocks could reap huge rewards.

All of this suggests that now is the time for astute gamblers to get it on the ground floor and buy some of these exciting new stocks. Sometimes life (like the casino) is a game of chance, and moves like this are a great way to tilt the odds in your favor.

Don’t let the uncertain market sway you. Act boldly!

The neurochemistry of a pathological gambler is slightly different than that of the average person. One major difference exists in the Amyglada part of the brain. Problem gamblers have an overactive Behavioral Activation System (BAS) that is coupled with an under-active Behavioral Inhibition System (BIS) due in part to a slightly lower level of Norepinephrine (the stress neurotransmitter). What this essentially means is that the potential rewards and pleasures that could be incurred from a behavior seem more appealing to these people, while at the same time they feel less inhibition toward performing that behavior. To give a practical example:

A child thinks of taking a cookie from the cookie jar. In an average child, the thought will trigger expectations of punishment. These expectations are anxiety provoking, and so a number of things will biologically occur within the child.  Heart rate will increase, perspiration will go up, blood pressure will increase, etc. Since our bodies don’t like anxiety, the mind will try to stop thinking about taking the cookie. Soon after the thought has stopped, the child’s biology will return to a non-aroused state, relieving the anxiety. Relief of anxiety is naturally reinforcing and so the child unconsciously learns to stop thinking about doing bad things.

In the compulsive gambler, the problem comes when step three does not occur, causing every subsequent step not to occur and, the behavior is simply carried out regardless of the punishments involved. If you add increased BAS activity to this equation, you wind up with a person who’s only thought process on behavior is: Environmental Trigger -> Action. This is essentially the same psychological make-up that predisposes people to being a crime recidivist, or a drug or alcohol addict.

Take this same person and stick him in Vegas for a weekend, and you have just pulled the pin of a grenade. The hedonic tone of a casino aggravates this diathesis for compulsive behavior, and the person is willing to put their life savings “on black” and let the wheel decide what will come to be. Seeing as the type person we are discussing is not the average person, “the casino” is no more responsible for problem gambling than “Captain Morgan” is responsible for alcoholism.

The filing also noted that for the first six months of 2008, casino earnings were “insufficient to cover fixed costs” by over $80 million. It’s an astounding loss for the once-mighty casino, which just a few short years ago was practically printing money to the tune of $600 million in annual cash flow. Industry insiders believe this could trigger problems with Las Vegas Sands’ $8 billion in long-term loans.

However, the struggles of Las Vegas Sands is only a microcosm of how tough life has become for many high-flying enterprises. TIME blames the lackluster revenue and losses on gamblers (particularly those in Las Vegas) “growing more reluctant to part with their money.” In times where buying groceries or paying the mortgage are day-to-day uncertainties, playing poker or craps has slid down the financial priority lists of many.

How long this situation lasts depends, in large part, on the actions of new President-elect Barack Obama. If he follows through on his campaign rhetoric of taxing wealthy individuals and business owners (like Las Vegas Sands’ owner, the 75 year old billionaire Sheldon Adelson), things will become even worse. The worst thing to do when consumer confidence is low is raise taxes, as this only discourages the entrepreneurship and risk-taking necessary to restore confidence to pre-meltdown levels.

Whether this will actually happen is anyone’s guess, but at this rate, Las Vegas’ casinos may not last long enough to find out. We can only hope the newly minted Obama administration will not make things harder than they already are.

Real estate expert and Harvard MBA John T. Reed explains this (without knowing it) in his article on McCain:

“No one can support him [McCain] because they like his record because there is no coherent theme to his record. He is guaranteed to have spit in your face on some important issue, no matter what political point of view you have, and if he has not yet, he will soon. Conservatives have been saying he’s not conservative enough. That makes many say he must be liberal or moderate, which they like. NO! He is not anything enough. Politically, he is not anything, period. He is just some guy who may take all sorts of positions—including extreme right and extreme left—depending upon his whim.”

Surely this random choosing of positions doesn’t apply to gambling rights, you say. Skeptics and McCain supporters will point out that McCain is himself an avid gambler, reasoning that since he gambles, he would never jeopardize the gambling rights of others. But is that reason enough? If his voting record is any indication, McCain has no great loyalty to the principle of individual rights. The campaign finance reform bill he co-sponsored, for example, basically made it illegal for citizens to donate money to the politicians they like. The bill also made it illegal to air TV ads criticizing Congressman seeking re-election, creating a situation where, as one editorial opined, “congressional incumbents can sit back and cruise” to re-election despite the public will. Many see the bill as a blatant slap in the face to freedom of speech, which it arguably is.

McCain is also an unapologetic supporter of volunteerism, the recent trend of coercing young people into state-supervised charity work out of an alleged duty to “give back” to society. Some school districts have taken this so far that they now have compulsory service requirements. If students refuse to do unpaid charity work, they are literally not allowed to graduate. Puzzling, isn’t it, that this alleged pro-freedom Republican maverick has no problem forcing kids into what can only be described as politically sugar-coated slave labor. (The official euphemism is that McCain and others are creating a “culture of service” or some such.)

How does this relate to McCain’s likelihood to protect gambling rights? Simple.

Picture this. 2010 rolls around and public support for gambling is at an all-time low. Lots of heartbreaking stories about little old ladies losing their life savings at the blackjack table, poker websites “desensitizing kids to the risks of gambling”, so on and so forth - the usual nanny state, “there ought to be a law” rhetoric. Remember Tipper Gore’s crusade to ban violent video games “for the children?” Like violent video games, gambling is an easy target for high-minded social criticism and regulation. And really, what assurance do we have that John McCain will stand up to that type of pressure and defend the all-American right to gamble?

It’s bad enough that politicians are “anything it takes to keep my power” sociopaths. But combine that with McCain’s bizarre, whimsical, no-rhyme-or-reason political stances and it’s tough to see him taking any kind of principled stand for gambling rights. Is that a chance poker enthusiasts or slot lovers can afford to take? You’ll get the chance to decide in a few short days.

If you think we’re talking about China, think again. All of the above is now sadly true of Kentucky! Based on nothing more than state lawmakers’ dislike of Internet gambling, a state judge has ruled that 141 online gambling domain names will become state property unless the owners block Kentucky users from accessing them within 30 days.

The ruling came down in the form of a 44 page court order from Judge Thomas Wingate of the Franklin County Circuit Court on Wednesday. To the owners of the challenged domains, the message is clear: somehow find a way to block everyone in Kentucky from accessing your websites, or you will lose them. Lest there be any doubt about whether the Judge really “means it”, see the following quote regarding how his decision could impact Internet gambling on a global scale:

“This doomsday argument does not ruffle the Court.”

What is even more outrageous than the idea of selective government censorship is how many of these gambling sites are completely harmless! In fact, several of them don’t even offer web-based gaming or gambling. They just link to other sites where gamblers can download software programs - programs that don’t even connect to or interact with the challenged domain names!

Despite numerous Motions to Dismiss filed by gambling industry associations and advocates, the Judge has denied all opposition and seems totally prepared to move forward with the arguably unconstitional banning of Internet gambling within Kentucky borders.

Time will tell whether his decree stands up, but anyone at all sympathetic to gambling rights has to be outraged at what’s transpired so far.

The concept will be launched in November in front of a select crowd of gambling industry insiders at Las Vegas’ Hard Rock Cafe. If the reception is positive, Dream Team says, team poker could soon be available at casinos around the country.

According to Dream Team co-founder Dan Delshad:

“Poker is inherently an individual game, but team poker is not a new concept. A lot of the difficulty in introducing it is in structuring it both for the general public and for the casinos to be able to manage the game.” The key to making team poker more palatable to the gambling public lies in Dream Team’s patent-pending scoring system, which functions without changing the way normal poker tournaments are run.

The new game format calls for players to win cash prizes based on their own performance (as is the case currently) but also retain a stake in the outcome if they get eliminated. By cheering on their team and offering moral support, eliminated players can earn a share of the prize if their teams go on to win.

Team poker also offers the possibility of bringing people into casinos at a time when revenues are dropping at an alarming rate. The novelty could entice gamblers to come in and see what all the fuss is about.

“Dream Team Poker introduces people to the game who normally might be uncomfortable in tournament play, but would be comfortable playing with friends”, said Delshad.

It remains to be seen whether team poker has long-term viability, but it sounds like an exciting development thus far. Whether you’re a long-time poker buff or an aspiring novice, this new game might be worth a look!

1) Bugsy (1991)

The true story of New York mobster Benjamin “Bugsy” Siegal’s trip to California. Bugsy leaves his wife and kids behind and begins hanging out on the movie sets of Hollywood, until he falls in love with a young and beautiful actress. Bugsy then decides to build and operate a Vegas Hotel and Casino and turns his sights on the big bucks. What happens when he turns his back on the mob? Watch “Bugsy” and find out!

2) 21 (2008)

Starring Jim Sturgess and Kevin Spacey, “21” tells the true story of the M.I.T 6. Six students from M.I.T who figured out how to count cards in Blackjack and gamed the casinos for big money! Eventually the casinos begin to catch on and begin to punish the group for cheating their system! Anyone with designs of gaming the casinos would do well to watch this one as a cautionary tale of what could happen.

3) Casino (1995)

Martin Scorsese has a long history of cranking out amazing gangster films. What happens when you combine gangsters with gambling? The movie Casino is born! Starring DeNiro and Pesci, the mob takes to Vegas to run a casino, and of course, action and drama ensue! Add to that a beefy love triangle and you’ve got an enthralling, engaging gambling movie!

4) Casino Royale (2006)

The latest installment in the action packed “James Bond” series, Casino Royale, sends Bond to a French casino to beat a Soviet assassin at a baccarat game. Packed with all the action, sexiness and drama that identify the Bond series, Casino Royale will keep you on the edge of your seat and may even cause you to want to go play some baccarat! (Just try to focus on the gambling aspects of the film and NOT the lack of Pierce Brosnan.)

5) Oceans 11 (2001)

George Clooney’s remake of the old “Rat Pack” movie features an all star cast including Brad Pitt, Matt Damon, Bernie Mac and Andy Garcia. The plot involves 11 highly skilled con-artists attempting to rob a casino vault of 150 million dollars. Featuring just the right mix of comedy, action, suspense and gambling, Oceans 11 is a must see for any fan of the casino!

6) Showgirls (1995)

Showgirls holds the title of being the first big-budget Hollywood movie to receive an NC-17 rating! The movie tells the story of Nomi Mallone, a stripper with the dream of becoming a famous Las Vegas showgirl. The story chronicles her pursuit of this goal, and the action and drama that comes along the way!

7) The Cooler (2003)

The cooler tells the story of a man who has a long history of losing at just about everything, and what happens when he begins winning. Fortunately for the viewer, its pure chaos! A trip to Vegas and a heated love affair make the movie an excellent one for any fan gambling or drama!

8 ) The Good Thief (2002)

The Good Thief tells the story of a retired master thief and gambler spends his days a heroin addict hanging out in shady gambling dens. This is, of course, until an attractive woman presents him with the chance to come out of retirement for one last big heist. Engaging and clever dialogue, top-notch acting and uncommon camera work make this movie wildly entertaining!

9) Owning Mahowny (2003)

The true story of Canada’s most famous criminal: a man who stole over 10.2 million dollars to feed his gambling habit. His excuse? “I don’t have a gambling problem, I have a financial problem!” Whatever his problem was, his story is an amazing one, and the movie is a must see for anyone interested in gambling. Gamblers should pay special heed to it, as it is, again, modeled after a true story instead of just a cool-sounding plot.

10) Intacto (2002)

Science fiction meets gambling in this tale of a group of people who have a supernatural ability for superstition and gambling luck. Revenge, love and gambling mix into this wonderfully dramatic movie that will keep you guessing until the very end of this suspense-filled classic.

11) Gambling City (1974)

The story of a mysterious newcomer and card-shark named Luca Altieri who begins to become a threat to “The President’s” authority. When this mob kingpin begins hunting him down, Luca must use wits and violence to get out of town and disappear from the radar!

12) Indecent Proposal (1993)

A honeymoon in Vegas between a loving and newly-wedded couple turns into a moral conundrum when a gambling billionaire offers the husband a million dollars for one night with his new wife. Drama and action ensue as the wife decides to make the decision on her own, but can the marriage last? Find out in Indecent Proposal!

13) Jinxed (1982)

This black comedy, taking place in the fictional gambling town of “Loserville”, tells the story of a young and attractive lounge singer and a young blackjack dealer turned obsessive gambler. This classic was director John Siegel’s last film, making it a must-see if for no reason other than that.

14) Boiler Room (2000)

What goes on in seedy boiler room (dishonest brokerage firms) operations across America? Deceit, lies and a whole lot of action! When a rich and young casino owner seeks out the help of a boiler room operation, his world begins to crumble! The only hope is to investigate this scam and dive deep into its inner operations! What was uncovered? Watch “Boiler Room” and find out!

15) Kaleidoscope (1966)

A high class card shark designs a system for beating casinos out of big money! His plan involves breaking into the factory that makes cards for the casinos and marks them all with a code that only he can read! Packed with comedy and style, Kaleidoscope is a classic for the ages, standing the test of time that has spanned over 40+ years!

Sadly, what should be celebrated as a step in the direction of gambling and advertising freedom is being criticized by - you guessed it - the church. Here’s what the Church of England had to say in their official statement on the allowing of gambling ads:

“Whatever people are searching for on Google, it probably isn’t the chance to risk developing a serious problem that could have a hugely negative effect on themselves and their family. As people are facing more financial uncertainty, the fantasy of instant wealth could become particularly attractive and the consequences of losses correspondingly serious.”

The Church’s criticism comes a day after a study indicating a 25% spike in people seeking help for gambling problems, and many seem to agree that Google’s change of heart is ill-timed.However, Google is characteristically taking a pro-active stance on the issue. They insist that all advertisers promoting gambling sites or products will have to be regulated. Gambling sites advertising on Google will also be required to post links to sites that offer help and counseling to problem gamblers.

The Church would do well to realize that many controversial and potentially harmful things are advertised, on Google and everywhere else. The key to stopping problem gambling is counseling and psychotherapy for those with addictive personalities, not banning all advertising of casino games.

Naturally, we at Pitboss applaud Google for making it easier for gambling sites to promote themselves to free thinking gamblers on the Internet. Let’s hope the United States ban is lifted next!

This is a mistake!

That’s right. The widespread irrational despair, paranoia, and fear that is causing the mass public to stop enjoying themselves (at casinos and elsewhere) is completely misbegotten and unnecessary. What people don’t realize is that this is the very behavior that prolongs economic disasters and worsens their negative effects on us.

Think about it. What happens when every TV reporter and newspaper journalists floods the news with disaster proclamations and warnings that consumer confidence is vanishing? If you answered “consumer confidence gets even worse”, go up to the front of the class. You are correct. The never-ending naysaying of those in the media and economic press actually worsen the very problem they are complaining about. People get scared and hold on to their money. (That’s why the stock of perfectly healthy, profit-producing companies plummeted all last week. Fear led people to sell in mass quantities, and thus devalue, otherwise valuable stock!)

So how does this relate to you and whether to keep gambling? Simple. There’s really no such thing as “consumer confidence.” There’s just individuals like you, who decide every day whether to buy a big screen TV or not, whether to book that vacation or not - or whether to gamble, or not. Add your decisions to everyone else’s, and that’s how you figure out where “consumer confidence” is. That means if we all decide we’re NOT going to be paranoid and stuff our money under the mattress, economic troubles need not plague us for very long.

So do your part. If you have a casino trip scheduled, go and enjoy it as planned. Spend money without guilt on the fun and entertainment that makes life worth living - and encourage others to do the same! If enough people ignore the doomsday proclamations, we might just get out of this mess a lot sooner.