You must expect great things of yourself before you can do them. —Michael Jordan |
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16th August 2017 | SHARE THIS | ||
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The Story | |||
Genting Casino has launched a probe after losing £200,000 to a bunch of crooks who fiddled a game called punto banco. |
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How did the fraudsters pull off the sting? |
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The casino has been tight-lipped on the whole incident but the inquiry was called after the casino’s security experts spotted a “potential fraud.” It only said that the group won the money “illegally” by playing punto banco over a four-month period. |
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Despite the possible fraud, the cops were not yet called in. |
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Citing a source, The Scottish Sun reported that “the casino has been desperate to keep this quiet.” Genting’s spokeswoman said that the casino will seek prosecutions under section 42 of the Gambling Act in case that the investigation proves any criminal activity. |
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This is not the first time that punto banco fraud caused a headache to Genting. |
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Genting is not a stranger to baccarat cheating as it is involved in a fierce legal battle with popular poker professional Phil Ivey. Ivey and his buddy Cheung Yin Sun supposedly used ‘edge sorting’ techniques to win £7.713.650.60 playing punto banco at Crockford’s Casino in Mayfair, London last August 2012. |
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Ivey’s fate still hangs in the balance. |
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Ivey sued the casino to collect his winnings but lost the case before the Court of Appeal in 2016. However, he got a permission from the UK Supreme Court to appeal the decision that he had cheated in a form of “advantage play.” |
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Takeaway |
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Genting should reconsider ramping up its anti-fraud measures as it continues to gain losses due to punto banco. |
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Chris Kamara: Sports comic relief is a serious business |
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In this interview with Becky Liggero, television presenter and football analyst Chris Kamara talks about the seriousness of sports and sports betting ban on player. |
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LRWC net income slump extends in Q2 |
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Philippine-listed holding company Leisure and Resorts World Corporation (LRWC) has reported a 72% plunge in its net income due to the continued exodus of online gambling locators from First Cagayan Leisure and Resort Corp. |
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Australia’s TopBetta enters US market with 2 new licenses | |||
TopBetta has announced that its two subsidiaries—TopBetta Pty and The Global Tote—have been granted operational licenses in the United States. |
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Atlantic City casino revenues down 2.7 percent | |||
Atlantic City has posted an overall gambling revenue – including internet gambling and the shuttered Trump Taj Mahal Casino Resort – of $267.8 million last month, lower than the $275.2 million in July 2016. |
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As many as 51 percent of all South African women gamble. What's more, females are also more vulnerable and are likely to be more severely affected by problem gambling. |
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As early as now, look into how virtual reality technology can complement your current business. For in the next five to 10 years, we may be seeing future virtual reality arcades and VR-enabled slot machines. |
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i-pools launches £1million “Beat the Streak” Jackpot games |
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I-pools has added £1million Jackpot Bonus in its sports prediction games, allowing players to win the bonus in addition to the normal prize pools. |
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Poker players will witness history unfold as the World Poker Tour is set to pay out their one-billionth dollar during the WPT Legends of Poker. The event is currently underway and its Main Event will take place on Aug 25 to 31. The player who wins the billion prize dollar will be given a seat into the Legends of Poker Main Event plus a couple of night’s stay in The Bicycle Hotel and Casino. |
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