gamblers

11 Stories

Phil Mickelson Made Nearly $1M on Insider Trading: SEC

Commission names pro golfer in federal lawsuit

(Newser) - The Securities and Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading, the AP reports. The SEC says gambler William Walters received tips and business information about Dean Foods Co. from Thomas Davis, former head of Dean Foods, between 2008 and 2012. The SEC... More »

Casino to Gamblers: You Owe Us $1.5M

Golden Nugget casino says mini-baccarat cards were unshuffled

(Newser) - So you failed to unshuffle the deck—why is that our problem? That's essentially what a group of 14 gamblers are arguing in an effort to retain $1.5 million they won at an Atlantic City casino in 2012, the AP reports. They filed a motion yesterday in an... More »

Gambler Sues After Losing $500K While Blackout Drunk

Mark Johnston says casino should not have issued lines of credit

(Newser) - A California man lost $500,000 while gambling at a Las Vegas casino over Super Bowl weekend, but he doesn't think he should have to pay—because he was so drunk at the time. "I feel like they picked my pockets," says Mark Johnston, who is suing... More »

Coming Soon: Drug to Treat Gambling Addicts?

New study discovers why some people may take financial risks

(Newser) - Why are some stock traders and gamblers so willing to take financial risks? A new study shares a possible answer: Scientists found that people with higher levels of the neurotransmitter norepinephrine in a critical part of the brain related to sensory and reward systems are less sensitive to the pain... More »

Why Gamblers Can't Walk Away

A near miss gives that winning feeling, study finds

(Newser) - Scientists have unlocked a key to obsessive gambling—the lure of the near miss. In search of the reason gamblers keep playing even after strings of horrible losses, Cambridge University researchers examined the brains of gamblers. They found that a near miss—putting a bet on a horse that finished... More »

Penny Slots Bring In Big Bucks

(Newser) - Casinos are making big bank off the tiniest—and oft-most derided—denomination, USA Today reports. Gambling outfits have added penny slots at an amazing rate—in the last 2 years, Nevada has removed 12,000 more costly machines to make room for 7,000 penny slots—and the move has... More »

Palin 2012 Odds See a Sharp Rebound

Betting suggests gamblers believe Palin can go the distance

(Newser) - Gamblers were rushing to place online bets as soon as they got wind of Sarah Palin's resignation, Keith Thomson writes at the Huffington Post. The odds of her winning the nomination in 2012 shot up sharply the day of the resignation. They then shortened amid a surge in betting as... More »

China Test-Runs 'Immoral' Horse Betting

Horse racing returns to mainland for first time since Communist victory

(Newser) - China is taking slow and cautious steps towards unlocking its huge betting market, the Economist reports. Gamblers at a Wuhan racecourse recently became the first people allowed to try their luck on the horses since the Communists outlawed gambling in 1949—although a winning pick only rewarded customers 20 lottery... More »

States See Lottery Sales Take Rare Dip

Recession crimps this usually safe revenue stream

(Newser) - In good times and bad, state governments have relied on the lottery to bring in as much as $1 billion for education programs and other beneficiaries. But last quarter, sales of tickets fell by $215 million nationwide, only the second dip in 16 years. At a moment when states are... More »

Bookies Call Game 5 for Phillies

Under Vegas rules, the fat lady sung at the bottom of the fifth

(Newser) - Game 5 of the World Series is stuck in a rain-soaked limbo in Philadelphia but it's all over in Vegas, the Las Vegas Review-Journal reports. Nevada gaming ‘house rules’ state that a canceled game reverts to the score of the last finished inning, making it a 2-1 victory for... More »

Bookies Pay Out on Longshot Clinton Bets

At 100-to-1, Hillary's victory startles political gambling websites

(Newser) - Clinton supporters of an apolitical kind had reason to celebrate after her surprise win in New Hampshire: bettors on a Hillary victory reaped huge payoffs after her odds dropped to a low of 100-to-1. Bloomberg reports that the Dublin-based Intrade had made an Obama result a near certainty, leaving contrarians... More »

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