...unsatisfied by money because of their view on it. Some people perceive money to be evil because of the way it controls a financial life-style, but it is merely just a tool from a rational perspective. Changing the perspective of money can change the outlook of life because it can help avoid selfish desires and make a person more financially stable (Klontz). If there was only one person in the world, and he was a billionaire, he couldn’t be considered “rich” because he wouldn’t have the “poor” to compare to. If rich and poor are measurements of wealth, they only exist due to comparison. This means that eliminating a view point based on comparison also has an effect on a person’s view of wealth. Gambling is the perfect example of the human’s dilemma. Many people are aware that gambling has a higher loss ratio when it comes to winning stakes. If people are aware that they are bound to lose, then why do they still do it? For this there are many reasons. Typically people who choose to gamble are financially unstable and desire a method to get-rich-quick (Masmasika). Statistically, gamblers are designed to lose because it has a win/loss pattern, and when a gambler wins,...
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...Assignment Two: Crown (Casino Operations) Issue One: The chosen organisation is Crown, with our team’s focus specifically on casino operations in the High End and Mass Market segments to allow a more detailed analysis of the marketing mix and future direction of the brand. Crown has a strong value proposition, highlighted as the Asia Pacific leader in integrated gaming, entertainment and resort facilities, with gaming operations in a broad and highly lucrative market segment both within Australia and overseas. In Australia alone, over 70% of age appropriate citizens participate in some form of gambling activity in a market worth over $20 billion annually (Australian Productivity Commission Report on Gambling – 2010). According to the same APC report, casino gaming now makes up over 20% of the total gambling market and the use of poker machines in both casino and club environments has increased from 29% to 55% of spend in the last 20 years. Whilst a strong customer centric approach is essential for Crown to secure market share and build long term, loyalty based relationships with customers, the business also represents an example of both product and market orientation in its approach. The product orientation is indicated through Crown’s continuous development of table games and customer service programs, with the market orientation indicated through Crown’s detailed understanding of customer needs across its target markets (VIP, High End & Mass Market) and its delivery...
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...Marketing is, fundamentally, an effort to change the way a person feels about a product and engender a desire to change one’s purchasing patterns. Commercials play on our psychological desire to be “cool,” to fit in, or to feel good about ourselves. Anyone who has seen the Malboro Man straddling a horse and smoking a cigarette, or a bunch of attractive men and scantily clad women frolicking in the mountains drinking beer, can understand the popular association of coolness and fun with these activities. That is, until you recall the image of your friend vomiting at a party or constantly reeking of smoke. The marketing of games of chance, such as lotteries and casino games, is very similar. It often focuses on psychological tendencies and weakness as well as misconceptions, such as the possibility of rising from one’s current socio-economic state, internal and external loci of control, and counterfactual thinking, to attract customers to their business. From an economists standpoint, the choice to gamble has historically been somewhat disconcerting. According to standard theory, people will almost always choose to pay a premium, like insurance, to eliminate uncertain future outcomes. Yet gamblers regularly seek out opportunities to participate in gambles where the odds are overwhelmingly against them. In his May 1981 paper in the Quarterly Journal of Economics, Bruck [1] evaluates a modified utility curve to explain the apparent inconsistency with economic theory...
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... …6~7 Conclusion …8 Evaluation …8 Works Cited …9 Introduction Many card games can improve the chances of winning through mathematical manipulation and the understanding of probabilities. This is because throughout most games you are required to pull the right card in order to win, and since a deck of card always consists of a certain number of cards, there is always a way of calculating the probability of getting the specific card you are looking for. However, poker is a gambling card game that many people consider to be based on pure luck. It originated from Europe in the middle ages but modern day poker emerged specifically from the French game “poque,” in the late 18th century. Other countries such as Germany had a similar game called “pochen,” which meant, “bluff,” hinting at the games cunning play style. This was an indicator to many people that perhaps the game consisted of psychology and luck. However as proven in this exploration, bluffing in poker is not a cunning physiological maneuver but a mathematically essential part of the game. Rationale As someone who always believed that poker was a game of luck, simply played by the rich for a quick adrenaline rush, this was a very interesting topic to choose. Not only did it intrigue me because I did not believe the hypothesis but because I played every once in a while and thought that exploring this topic would widen my knowledge of the game resulting in the slightest...
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...Discuss psychological explanations of two or more types of addiction. (9+16 marks) Addiction to smoking occurs when a smoker has developed an uncontrollable dependency on cigarettes so that they find it almost impossible to stop smoking. A gambling addiction is usually termed pathological gambling, which indicates a progressive addiction characterised by increasing preoccupation with gambling and a loss of control over their gambling behaviour. Experimenting with smoking usually occurs during adolescence and is governed by mainly psychological motives. In some groups, smoking is seen as a rite of passage into adulthood, and so in a smoker's peer group the message conveyed is that smoking appears to be an enjoyable activity that promotes popularity ( ( McAllister et al.). ( Jarvis states that children who favour this view of smoking often come from backgrounds that approve of smoking, or where smoking is common. Jarvis argues that this desired image is sufficient for the new smoker to tolerate the unpleasantness of the first few cigarettes, after which the physical effects of the nicotine take over. This claim that smoking is popular among adolescents is supported by ( Mayeaux et al's study. They found a positive predictive relationship between smoking and popularity two years later at the age of 18 (boys only). However, it is possible that increased awareness of health problems that are associated with smoking among slightly older children would make it seem less mature...
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...the dice and legalize gambling as a revenue winner. The advocates view on legalizing gambling point out that its productive way to bring in new jobs, a first class, environmentally friendly resorts, and a steady long term revenue stream for the state and several towns. On the flip side critic our set on the belief that legalizing gambling is going to strike back at the people and their homes creating addictive gamblers, crime level will sky rocket and local business will suffer from the new change. The Voice of the Pro Advocates Why is gambling being so frowned upon by critics? The present movement to legalize gambling which got under way in 1960 is still making some gain, but has however become greatly unpopular, and has slowed down! Although some short of gambling is legal in all but two states (Hawaii and Utah) why does it continue to be denounced? One reason that keeps pooping up, is critics feel the right to label it as being “unproductive” and therefore wasteful, but what is productive then? Back in the early 18th century one early view was that only agriculture was productive, and that manufacture was unproductive since they relied and where supported by agriculture, but by the end of the 19th century being able to produce a service or a physical good was considered productive. A musician for example was no longer viewed as unproductive along side with servants, dancers, and players because they produce a service a customer demanded. If gambling turn out to be productive...
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...which made the reader believe that the ending would end happily. However, the short story had a lot of key characters which led to the suspenseful and unexpected ending where Paul dies. Some of the important characters in the story were Uncle Oscar, Paul, and Paul’s mother. Later in the story, Uncle Oscar plays a key role in Paul’s life when he encourages Paul to gamble. Shallow and egotistic, Uncle Oscar does nothing to help Paul’s family through their financial difficulties. When he learns that Paul earns money through gambling, he takes advantage of the boy by betting on the winners that Paul selects. "That's right, son! ...Don't you stop till you get there", he tells Paul. Although Uncle Oscar acknowledges that Paul engages in the bizarre activity of compulsively rocking on a toy that he has outgrown, but he does not say anything to Paul's mother, “All right, son! We’ll manage it without her knowing.”. Also, rather than taking steps to stop Paul from gambling, he encourages him and asks him for tips on winning horses. Before Paul dies, he mutters the name of his pick for the Derby and Oscar runs off and places a bet on the horse. Through these actions, it shows how irresponsible he is. Paul is the protagonist of this short story and he unexpectedly meets a tragic fate in the end of his journey. Since his mother always talks about luck and money, Paul “inherits” his mother’s obsessions and wishes that he could fulfill her desires. His winnings will free his mother from being...
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...Site Selection: The location of a casino is an important decision, because this raises strategic, regional and local considerations (Hannigan, 2007). A framework of site selection criteria, therefore, should work out to determine the casino location. Selection Criteria: The locational determinants are documented as followings to determined our casino development location: (Rephann, 1997) 1. Proximity to larger urban areas 2. Quality of transportation infrastructure: 3. Restrictiveness of state casino gaming regulations 4. Proximity to non-casino-gaming states 5. Scale of casino development 6. Presence of other recreational attractions 7. Qualified Personnel inputs In addition, other aspect of the potential destinations such as the reputation of the destination, the economic development situation, the potential tourism development opportunities, accessibility problem in VISA restrictions and the risk analysis of the destinations will be taken into consideration. Attracting elements in choosing Singapore: After conducting the site selection analysis, it is found that Singapore could be one of the potential destinations to be developed for a new casino. General speaking, the high revenue generated by tourism, the high proportion of people in the highest socio-economic categories, the presence of Singapore’s iconic attractions, the high concentration of hotels and so on making Singapore being a higher potential for the new casino development...
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...Raven, a young girl, is walking home with her mother’s lottery ticket in her back pocket. While walking home she runs into one of her ex best friends that grabs the lottery ticket out of her back pocket. Her ex best friend, London, then switches her lottery ticket with a different one. Raven starts to rush home before the streetlights come on. She doesn’t want her mother to miss the numbers. Just barely making it be for the lights come on Yolanda, her mother, starts to scream outside the apartment window. “ Hurry up Raven they about to show the numbers” Yolanda says. Raven starts to run up the stairs as fast as she can. Busting threw the door running towards the TV her mothers screams the numbers. Looking at the ticket Raven’s mouth drops. So far all of the numbers are correct and they both wait for the last set of numbers. Not thinking they will win the announcer says the winning number for the mega millions. “3-8-1” the announcer says. Raven looked at the numbers shown on the TV and then looked at the ticket and says nothing. Yolanda automatically thought that they lost and just turned the TV off. Yolanda walks off in shame and then, Raven runs up to her mother screaming that they won. Her mother thought she was crazy so she turned the television back on and looked at the ticket. They jumped up and down in joy. Yolanda calls her job to let them know that she quits and told them never to call her again. Raven is so excited that she calls her new boyfriend Monte to tell...
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...Cricket, Gambling and India Gambling has gambled heavily on India. It’s appetite to enter Indian market, over the years, has shown only signs of strengthening. Now it has on its side some of the biggest moguls of Indian industry like Subhash Chandra (Zee) and Vijay Mallya (Kingfisher). Subhash Chandra might be famous as a media biggie but as early as in 2007 he earned almost as much from his lottery brand Playwin as the rest of his media, packaging and real estate businesses added together i.e. a cool Rs. 2400 crore. According to Playwin website, the company has at least ten games to offer. The lotto & gaming brand of Pan India Network Ltd. claimed in June 2010 to have created 71 crorepatis and over 3,000 lakhpatis from all over India within a short span of 8 years since its establishment. Of course it doesn’t talk about the many people who would have gone bankrupt due to gambling. But this is the visible picture. According to a story published in the Businessworld in 2008, unlawful betting in the IPL cricket season averaged $100 million per match in 2008. Indians bought over 30 million lotteries a day and the lottery market alone was estimated to be upto Rs 50,000. The total gambling industry was upwards of Rs. 100,000 crore in 2008 itself. There is hardly any doubt that despite all the recessions, the gambling industry has only gone up. Howsoever we frown at the moral aspect of gambling, it remains the most popular vice. That it can’t be stopped is clear. That it...
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...CONSUMER SPENDING ON LEISURE AND VALUE Gambling Several factors have contributed to the dramatic growth of gambling in the UK like the internet .The technologies that drive the internet have improved internet gambling allowing anonymous gambling without physical travel and provides the highest level of gambling to date. Gambling and betting employs 20,000 people in London, and has sales of almost £900 million. Casinos are particularly significant – London has 60 per cent of the nation’s casino bets. Gambling is declining in popularity, but the market is being changed drastically by developments in internet gambling. Department of culture media and sport The government transformed gambling legislation with the 2003 act for several reasons it has been argued that the government wanted to offer a safer regulated internet gambling environment .In the UK the gambling commission has a responsibility under the gambling act 2005 to provide advice to the government on gambling issues. WHO GAMBLES Men are more likely than women both to gamble (76% of men and 68% of women gambled in the Past year) and to participate in a greater number of gambling activities (1.9 per year and 1.3 per Year, respectively). • The only gambling activity that women are more likely to participate in than men is bingo. Men Are more likely than women to play the football pools and fruit machines, bet on horse and dog Races, and to make private bets with friends. • Gambling is most common among people in the...
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...Analysis………………………………………………………………...…Page 11 Economic Analysis……………………………………………………………………………………..Page 12 Political Analysis……………………………………………………………………………………..…Page 14 Evaluation of Outcomes………………………………………………………………………...……Page 15 Works Cited………………………………………………………………………………………….……Page 17 Overview The industry of gambling provides a country’s respective government with large amounts of financial support. Furthermore, gambling is a multi-billion dollar industry worldwide. The misfortunes and losses of people are the monumental and overwhelming gains to government or non-government regulated casinos. The establishment of government owned casinos creates much-needed jobs for citizens as well it creates a flow of profit to the country. This inflow of cash assists the government in completing necessary tasks and is beneficial to the public because taxes are not being raised to complete such tasks. Over the last twenty-five years, the regulation of gambling has become prevalent. There are still many situations in which gambling occurs in a deregulated form such as Internet gambling, which although many people partake in, is not officially legal in Canada. The criminal code played a large part in the prohibition of gambling in Canada. In 1969, an amendment was made to the Canadian Criminal Code to allow the use of lotteries to help provincial governments fund projects (Stevens). Following the introduction of the lottery, in 1985, provincial governments were permitted...
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...Marketing Position………………………………………………………………..18 Company & Industry Growth Marketing Strategies Analysis of Management Stock Performance International Strategies Strategic Position…………………………………………………………………………………21 Current Core Competencies Competitive Advantages Performance Indicators Recommendations and Discussion………………………………………………………………23 Long-Term Options SBU Level Recommendations Short-Term Options Corporate Social Responsibility Environment and Sustainability Introduction Las Vegas Sands Corporation (LVS) is a multinational casino and resort company that began in 1989 when Sheldon Adelson purchased the Sands Hotel in Las Vegas, Nevada. Since 1990, LVS has grown into a luxury hotel, entertainment, and gambling corporation with locations in the United States in China. Among their most well-known American properties are The Venetian and Palazzo, both of which are in Las Vegas, and they also boast ownership of the Four Seasons Hotel, Sands Cotai Central, and The Venetian Macao in the Cotai Strip in Macao, China. Additionally, they operate the Marina Bay Sands in Marina Bay, Singapore. LVS is hoping to increase their presence in Singapore and Japan as well. They are planning to open The Parisian Macau, another...
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...EFFECTS OF DOTA Playing this game also triggers the player to lose his/her temper and values. Why? It simple because of the different languages used during the game or what we called “Trash talks”. Trash talks such as foul languages can really lose their temper and values. As a result, the both sides will fight against each other. Gamble is also present in the game, the highest bet is 5,000 pesos and the lowest is 300 pesos. Again, money for them is not that important anymore. Many players says that “Dota is the best past time ever,” so it’s Ok for them to waste their money. Due to playing, eating is irrelevant; the satisfaction they get form playing is the same as the satisfaction they get from eating. As a result, the body’s immune systems are getting weaker and now expose the different viruses and diseases. All in all, Dota really affects the life style of the youth who are in to this game, although it has one good benefit, but it corrupts the mind and the way the youth think. It also weakened the body system, money and moral values were not given importance because of this game. There are many students and even some young professional are addicted to Defense of the Ancients or Dota. This is a kind of computer games that can be played by many players and is one of the most popular games to young students. Many students get addicted to this game and they even long hours inside the computer shop just playing this kind of game. There are studies that getting addicted in playing...
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...There are two types of distinct interpretations of the term probability which is to determine the probability of a particular outcome and observing the relative frequency over many repetitions of the situations. The first method is to make assumptions about the physical world. For example assume that dice are made in a way such that they are likely to land on any of their six surfaces and that the way in which I throw one dice has no effect on how it lands. The probability of the number six showing on top is one out of six. The second method is if I would have to stand there and throw the dice several different times and based on how it lands can determine the probability. Making a determination on the least amount I throw the dice will have a bad outcome Davis, (2001). My decision to use the throw of dice in this example is not probabilistic but choosing a very specific reason in describing the way in which I have heard about business decisions made by companies. The level of technology as a service offering to its customers and public ownership of the company are of a stable influence in making decisions based on short and shallow analysis of their probability for success. You can see this on the news almost every day or by reading The Wall Street Journal. In this economy is driven by expense, so much more in public owned companies where shared of resources to research and investigation are often recognized as pointless by stockholders. My point is that if you can not invest...
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