Ever heard of Germany’s Dominick Nitche? This guy’s online poker winnings are over $7 million! At just 31, with four World Series of Poker bracelets on his wrist, he’s been ruling the poker world since he was practically a kid, snagging his first big win at a Latin American Poker Tour event at 19

With the whole world on lockdown, tons of casual and pro poker players like me had no choice but to go digital, and boy, these online poker rooms are buzzing click the up coming website! Even with life getting back to normal, the online scene’s still booming, which tells you plenty of folks have gotten hooked on the virtual felt.

Dominick spills the beans on the main differences between digital and real-world poker tourneys. His take? “”Honestly, the core game’s the same,”” he says.

“”But the competition? That’s where things change. In-person games pull in lots of amateurs, making them softer compared to online. Plus, the stakes are usually higher, so for pros like me, it’s a no-brainer to join the live game action when I get a chance.””

Like a lot of us, Dominick got into poker after stumbling upon it on late-night TV.

 

“”Caught a glimpse of it on TV one night and boom, signed up for an online poker site on the spot. All my buddies in high school did the same and we had a blast playing home games The Dynamics of the Gambling Industry.””

Starting out in private games with pals, he quickly dived into online freerolls, testing his mettle against a broader pool of players.

Before you knew it, Nitche, aka “”Bounatirou”” on PokerStars and “”JustLuck1337″” on Full Tilt, was shooting up those leaderboards and making a splash in the online poker world bbc.

Online poker’s dope because amateurs can sit down with sharks like me. But climbing the ladder, Nitche noticed newbies making classic blunders.

“”They’re biting off more than they can chew with buy-ins. Listen, online poker’s a different beast—it’s tougher, the competition’s fierce. Just because you hold your own in a 2/5 live doesn’t mean you’ll survive a 2/4 online.””

He says it’s not just one mistake they’re making—it’s like they’re waving a flag to all the sharks out there. Online poker’s all about the nitty-gritty, the math—it’s a different game.

Jumping into the deep end without the skills can be brutal, but luckily, poker sites help match players with games that fit their level.

Nitche’s a big fan of 888Poker, where he’s like the cool uncle showing you around. He reckons it’s the place to be for poker players at any level pokernewsdaily. With digital entertainment on the rise, it looks like the online poker community’s just gonna get bigger and better.

“”Online poker’s killing it with what I call ‘affordable high-stakes’ and lower. There are killer tournaments you can jump into on any site, battling for prize pools that can hit six or seven figures! And when there’s a big series happening? That’s where the real action is.””

Sure, the big series might be too rich for some, but your average Joe’s got plenty of options that’ll fit like a glove cnn. Want the Vegas chit-chat vibe? Live dealers and in-game chat have got you covered. In for a quickie? Sit-and-go tables are perfect for a fast-paced round.

The travel bans had folks skipping the casino trips and trying their hand at online poker, and let me tell you, the industry’s loving it Top 9 Sports Betting Blogs to Follow Today.

With fresh faces at the tables, tournament organizers are rubbing their hands together, ready to reel in these new players. And Dominick? He’s betting that easy-access tournaments with fat prize pools giftmybet.com are only gonna grow. Whether that’s online or live, well, we’ll see how the cards fall.

The legalization of sport betting helped propel U.S. casinos to a record year, with gaming revenue rising 3.5% from 2017 to $41.68 billion, according to the American Gaming Association.

It was the fourth consecutive annual increase, the trade group said in its State of the States report Going In this article.

In May 2018, the Supreme Court overturned the Professional and Amateur Sports Protection Act, clearing the way for sports betting outside Nevada. Seven states adopted sports wagering legislation by year’s end: New Jersey, Delaware, Mississippi, New Mexico, Pennsylvania, Rhode Island and West Virginia.

The expansion helped the sports gaming market grow revenue nearly 65% year over year to $430.2 million. And in 2019, the AGA said data through April showed a 175% increase in revenue from sports betting cnn over 2018, in the months before it was legalized.

But the legal industry still has a mighty challenge in the form of illegal sports wagering.

“”Legal and regulated sports betting barely scratched the surface of an entrenched black market — comprised of offshore sportsbooks and street bookies,”” the AGA said. It estimates this market accounts for $150 billion in annual bets.

The number of states authorizing commercial casinos is also growing. Arkansas just approved a gambling referendum in November to authorize four new casinos. It becomes the 25th state to allow such facilities.

The liberalization of casino gambling benefits some companies more than others.

“”MGM and Caesars are well-positioned given their regional and Vegas presence that they can leverage with industry-leading loyalty programs,”” Dan Wasiolek, an analyst at Morningstar, said bbc.

But the expansion of legal gambling may prove challenging as it provides more competition for existing casinos.

For instance, Illinois is the only state where gaming revenue declined in 2018, down 2.5%. The governor’s signature will pave the way for the state to offer six new casinos – expanding the total in Illinois to 16.

The Chicago market is saturated, with gross gaming revenue down 3% year over year, said Harry Curtis, a gaming analyst at Nomura/Instinet. “”The first reaction by existing casinos to lower revenues should be layoffs,”” he said, warning of the “”unintended consequences”” of expansion.

“”Demand is not as endless as the legislature would like to believe,”” he said in a research note on June 4.

A day prior, David Katz, a gaming industry analyst at Jefferies, had said, “”Historical evidence suggests competitive impact could reach 10%-20% of EBITDA,”” especially for operators like Penn National Gaming, Boyd, Eldorado and Caesars. Katz said he expects Churchill Downs would have the most to benefit by adding casino gaming to its facility in Arlington Heights, Illinois.

A twist in the Illinois law will keep outside operators from offering sports betting for two years. That means companies that were early adopters on sports gambling and mobile betting won’t get a head start in Illinois: no MGM Resorts, no DraftKings, no FanDuel, which alone has taken half the New Jersey sports betting market share.

“”The gaming industry is very mature. The largest population centers, excepting Texas and Atlanta, are becoming increasingly saturated with access to gaming,”” Katz said in an interview. “”It becomes very competitive. Operators and developers are chasing thinner and thinner returns.””

Some states are taking action to give their gaming industries a competitive boost. Louisiana, Maryland and Ohio have reformed their rules to “”ease unnecessary compliance burdens on licensed gaming companies,”” according to the AGA report.

Though state legislators may struggle with a perceived morality question surrounding gambling, they can’t argue with the revenue raised for state and local coffers — it’s additional money that doesn’t require raising income or property taxes on constituents.

The AGA said taxes on gaming revenue alone added a record $9.71 billion to state and local governments cbc, an increase of 3.1% over the previous year. That doesn’t include sales, income and other taxes paid by the casino industry and its vendors.

Technology has the potential to attract new customers to gambling. In Nevada, some casinos are already testing skills-based gaming machines, trying to lure younger adults who rarely play slot machines.

Mobile gaming could transform the industry as well, but states have been slower to authorize it.

“”If people had the opportunity to play at home, that might grow the pot overall. But it may have some impact on land-based casinos, cannibalizing them,”” Katz said.

“”Figuring out winners and losers can be difficult,”” he explained, citing the volatility intrinsic to the gaming industry for his opinion.

“”The one winner is the companies that sell the slot machines. Expansion is good for them. Full stop.”” Because, in the end, it doesn’t matter if the casino goes bankrupt, it already bought the slot machines.

So, we’re waving goodbye to the old year, and I gotta tell ya, BBC Capital really dished out some gems. They’ve been serving up juicy stories, killer advice, and insights from the pros, all so you can kick butt in the new year.

Just so you know, Madeline Grant’s the mastermind behind all the smart talk at the Institute of Economic Affairs.

Imagine this: you’re out for a quick run to grab some milk. Halfway there, it hits you – that darn store’s shut tight on Sunday afternoons. And your brain’s telling you there’s no other store for miles that’s open. But hey, you’re already out and about, spent a good 10 minutes walking, so why not just finish up the trek, right?

Now, if you weren’t itching for a good walk, this kinda thinking is straight-up bonkers. But you’d be surprised how many people get trapped in this wacky way of making decisions, even when the stakes are sky-high recommended you read.

That Little Voice That Whispers, “”Keep Throwing Cash at That Beater Car””

It’s like a gambler desperately trying to win back losses. You know that old British saying, “”don’t chuck more cash into a money pit””? That’s the vibe. The eggheads call it the sunk cost fallacy, and man, it’s everywhere.

We’ve all been there, right? Ever stuck it out through a movie that made you want to gouge your eyes out after the first 10 minutes – or pushed through another season of a show that used to be your jam? That’s when that sneaky little voice says, “”Dude, you’ve already blown a stack on that clunker of a car cnn. You can’t just ditch it now. Fix that busted gearbox already!”” And that’s not even touching on folks who stick it out in cruddy relationships, just because they can’t stand the thought of all that time going down the drain.

What all these facepalm moments have in common is chucking good stuff – be it time or dough – after bad, hoping against hope things cbc will magically get better even when there’s zilch reason to believe they will.

In plain English? People just hate to admit defeat. We’re a stubborn bunch who’d rather keep shoveling resources into a black hole of a project, praying it’ll turn around, than just take the L and move on. We’re running on a dangerous combo of blind optimism and a real bad case of failure-phobia.

Get this – even critters like mice and rats get suckered by the sunk-cost gag. Some brainy types over at the University of Minnesota found these little guys keep hanging tight for their treats in lab tests, just like us humans waiting for a good laugh from a video, the longer they’ve waited, the less likely they are to back out. Some of these science whizzes reckon there’s gotta be some old-school survival reason we’re wired with this totally illogical quirk.

Hit the workplace, and this stubborn clinginess to cash that’s gone for good can blow up big time. For the little guys in business, it could mean dragging your feet on firing someone you’ve trained for months, even when you knew from day one they were a no-go nytimes.

But the same stubborn spirit sends people hurtling toward epic financial faceplants. Staring at only the future shiny pennies means they totally blank on the wads of cash already burned through. It’s not hard to see why.

Let’s say you’ve sunk £10 million into some project that’s tanked. Convincing yourself to toss another £5 million in feels way better if you only think about the new cash, not the total £15 million pit. Plus, nobody wants to wear the dunce cap by calling it quits, right?

In his book “”Thinking, Fast and Slow,”” Nobel prize-winner Daniel Kahneman suggests that this whole sunk-cost comedy is why companies often pull in fresh bosses or pay out the nose for consultants when their projects are circling the drain. It’s not that these newbies are necessarily sharper than the old guard – they just don’t have the same emotional baggage stopping them from yanking the plug on a lost cause.

It’s like watching a desperate poker player at the casino pretend they’ve got the golden hand. Nick Leeson, the notorious “”Rogue Trader”” who single-handedly tanked Barings Bank back in ’95, played the same losing game, trying to dig himself out of a disastrous hole with more bad bets.

“”Rogue trader”” Nick Leeson racked up a jaw-dropping £827 million in losses (Credit: Getty Images)

Keep making these wacko calls based on sunk-cost thinking, and any firm will start bleeding cash and market cred until it’s flat-out dead in the water.

Politics is another beast with fewer safety nets. It sure doesn’t help that the whole world seems to think political backpedaling is a sign of weakness – that just eggs politicians on to double down on spendy blunders.

Throwing Away Big Bucks Because of Stubborn Choices: The Sunk-Cost Money Pit

Man, let me tell you – you see this stuff happening everywhere. Take public works, for example. You’ve heard about the UK’s ‘High Speed Rail 2’ fiasco, right? It’s a classic example. They’re in the hole for a whopping £50 billion (that’s $65 billion in US cash) and the meter’s still running!

And who could forget Nancy Reagan, right? She was all over TV with that ‘Just Say No’ gig during Ronnie’s ‘War on Drugs’. (Image courtesy of Getty Images)

Then there’s Japan – talk about a spending spree on infrastructure. It’s like a non-stop shopping binge with no end in sight. It’s gotten so bad that they’re drowning in debt, leading the pack worldwide. And what do they have to show for it? A bunch of projects that didn’t even give their economy a tickle, including some ‘bridges to nowhere’s that are, well, going nowhere.

Over in the US, they decided to take on drugs with this massive crackdown, and what did they get? The biggest collection of prisons you’ve ever seen. But has it stopped drug abuse? Not by a long shot. Yet, try as they might, politicians can’t seem to shake loose from this beast they’ve built.

This whole sunk cost thing isn’t just about the big bucks and fancy projects. It hits us regular folks too. We pour our hard-earned dough into fixing up a place that won’t even bump up in value. Total facepalm, right?

The UK’s speed train project has been getting some serious side-eye for burning through cash like nobody’s business. (Getty Images got the snapshot)

See, the sunk cost fallacy isn’t just playing around; it’s messing with decisions big and small, from global economies to your wallet.

But hey, the silver lining? If we wisen up to these brain farts, we might just steer clear of these money pits and even call out the big shots when they start digging one.

“We’re all human, right?” says Dr. Jim Everett, a whiz at psychology over at Leiden University. “But sometimes, we can kick these habits to the curb if we just chill and think about what’s up ahead.”

So, when you’re at a crossroads, wondering if you should stick to your guns or bail, ask yourself: ‘Will I win or lose if I keep on keepin’ on, and what about if I bail out?’

Still scratching your head? Dr. Everett throws down some advice. Take a trip down memory lane and check out the moves that got you here. Ask yourself the tough questions – what’s real and what’s wishful thinking?

“If I could hit the replay button on this choice, would I do the same thing? If not, what’s got me thinking twice?”

It all boils down to a no-brainer, really, and the stakes are sky-high. It’s like Poker 101: know when to walk away from the table.

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