When Mario Vargas Llosa won the Nobel Prize for Literature this week, the British literary betting agent Ladbrokes couldn't have been more pleased. Ladbrokes had given the Peruvian author slim odds of winning the prize, so when Vargas Llosa won, Ladbrokes avoided a massive payout.
Philadelphia surpassed Detroit as the largest U.S. city with a casino when SugarHouse Casino opened for business on the Delaware River today, the Associated Press reported.
In California and Michigan, welfare recipients use their Electronic Benefit Transfer cards to withdraw the funds from ATM machines in casinos. If they proceed to roll the dice with the money, wouldn't this be state-backed gambling?
As the World Series of Poker advances to the November Nine, online poker sites are betting on the players. Sponsorships are in such high demand that one agent called the process of signing players this year "World War III." Why has this become such a high-stakes sport for sponsors?
The bond-trading specialist is taking bets and setting odds for the new M Resort Spa & Casino. But instead of simply handicapping games and accepting wagers, Cantor's tech-savvy braintrust has turned betting into something more akin to trading.
Think the Playboy brand is dead? Think again. The company, famous for its iconinc magazine and velvet-clad bunnies, is heading to the world's biggest casino playground this year: the Chinese gambling region of Macau.
The U.S. casino gaming market is finally improving, according to a recently released report from Moody's Investor Services. After more than two years of negative outlooks, Moody's has changed its view to neutral and recognizes "signs [that the] industry has bottomed out."
The Fertitta family is battling to salvage parts of their company as unsecured lenders scramble to recoup some of the $2.3 billion they had put into the company -- when the Las Vegas scene looked far more promising.
On Tuesday, the Unlawful Internet Gambling Enforcement Act will go into effect, prohibiting financial institutions from transferring funds to so-called "unlawful Internet gambling" sites.
Poker may be the best-known gambling game to attract professionals, but blackjack also has become a lucrative business. In his book Repeat Until Rich: A Card Counter's Chronicle of the Blackjack Wars, Josh Axelrad sheds some light on how these blackjack businesses work. It turns out that blackjack rings operate much like investment banks.
In Vegas these days, it's the restaurants that make the casino. Many casino operators have abandoned the pursuit of gimmicky themes -- think the Venetian with its gondola rides -- for celebrity chefs and well-established eateries.
