Harry Kakavas

Harry Kakavas Once described by the High Court of Australia as the ‘highest of high rollers’, Harry Kavakas was, in his heyday, an eminently successful property salesman. He accrued a multi-million fortune selling houses on the Gold Coast in Queensland, in northeastern Australia, but frittered away everthing he had, and more, at the Crown Casino in Melbourne. In a 14-month spell between June 2005 and August 2006, Kakavas staked an eye-watering A$1.5 billion on baccarat, betting up to A$300,000 a hand, and lost A$30 million, including $A2.3 million in less than half an hour on once occasion.

Kavakas later made legal history when, in 2007, he sued Crown Casino for ‘unconscionable conduct’. Kavakas’ laywers argued that Crown Casino has exploited his ‘pathological urge to gamble’ by providing him with complimentary accommodation, food and drink and travel, plus so-called ‘lucky money’, at up to A$50,000 a time, to a total value of nearly A$10 million. Crown Casino, on the other hand, argued that Kavakas presented himself not as a problem gambler – which, by his own admission, he was – but rather as an affluent businessman, who could afford to gamble the astronomical sums involved.

Kavakas’ claim for A$20.5 million in damages for his net losses, heard in the Supreme Court of Victoria, was dismissed on the grounds that Crown Casino was legimately competing for his business and Kavakas had, in fact, demonstrated that he found it possible to refrain from gambling. Kavakas subsequently appealed to the Court of Appeal in Victoria and, finally, to the High Court of Australia but, in both cases, his appeal was unanimously dismissed.

He’s Got a Bit(Coin) of a Problem!

As many of you will no doubt know, bitcoin is sometimes used as a payment method in online casinos. Such avenues to spend (and of course win!) are only natural for an online currency, and arguably contribute to its place and relevance for society. That said, I don’t actually own bitcoins myself even thought I’ve often talked about them over the years. Really I’m kicking myself because if I’d ‘had a punt’ clearly right about now I’d be sitting pretty.

He's Got a Bit(Coin) of a Problem! For the longest time I didn’t actually check the value of them on account that I knew I’d messed up and didn’t want to see how badly. The sense of dread that sets in when you realise that a virtual currency you pondered buying at $4000 a few months prior is now at the $30,000 mark. Still, however bad I feel it pales into insignificance when compared to the Bitcoin experience of Newport, Wales man James Howells.

Howells had the foresight to obtain a substantial 7500 bitcoins in 2009 for almost nothing, but unfortunately also had the misfortune to accidentally throw out his hard-drive in 2013, when the coins were worth a cool £4,000,000.

“I had a clearout of my old IT equipment – I hadn’t used this drive for over three years, I believed I’d taken everything off it… so it got thrown in the bin.

I had been hearing a few stories of a chap from Norway who had bought a number of coins for a very low price and had sold them for a high price and that’s when I got back into checking the price and seeing what I’d done.

When I found out what the price was, the penny dropped and I realised the coins I have ‘mined’ were on the drive I had thrown away. There was not a lot I could do.”

Without backups and with no joy getting the local tip to search on the local landfill site all hope was lost. To make matters worse the coins would now be worth an astonishing £210m. Howells has again recently pleaded with the council to let him search the tip, and has had interest in helping him. He’s even volunteered to donate a very substantial portion of the money if he’s allowed to do so, but so far hasn’t received a positive response.

 

So the next time you regret not buying bitcoins back when they were giving them out like candy, at least be glad you’re you didn’t buy and then lose them, like this unfortunate soul and many like him!

 

Beginner’s Guide To Gambling With Bitcoin

Beginner's Guide To Gambling With Bitcoin Bitcoin has morphed from a little known payment tool to an asset the organizations stove to own because of its innate feature as a means of storage. In this beginner’s guide to gambling with Bitcoin, we shall see how to utilize this payment tool in gambling.

What is Bitcoin?

This is a peer-to peer payment instrument that practically eliminates the need for third-party services. It is easy to transfer from one person to another, it is also divisible and can be used as a store of value as well as a payment tool. These are all the features of money. The implication is that Bitcoin (BTC) can be used as money to transfer value.

Features Desirable for Gambling

Bitcoin Casinos  have some features that have endeared it to the gambling industry. This is why many online casinos now support the use of the cryptocurrency to play games.

Anonymity

Bitcoin transactions are nearly anonymous. In fact, you would need an active blockchain analysis to track the origin and history of a coin. If such has not been linked to an individual through an exchange, it would be an even tougher job tracking the owner.

There are many gamblers that are not eager to reveal their identities, especially by using the more obvious conventional payment methods. This makes BTC an ideal form of payment for such players.

Low Fees

Everyone wants to save money. This is even more apparent when they make regular transactions that demand commissions and fees. We all know that these fees add up. Bitcoin eliminates the need for third-party payment processing platforms. This saves the users more money. For the casino and the player, this is a win-win situation.

Transparency

Transactions made on the Bitcoin network are transparent. This means that with the transaction ids it is possible for anyone to check the authenticity of any claims of payment.

The technology behind Bitcoin which is the distributed ledger technology (DLT) can also be used in tracking the fairness of the games available in a casino.

This is a confidence-building feature that gives the players the assurance that the games they’re playing have not been intentionally rigged to favor the house.

Speed

Bitcoin transactions are fast and easy to track. When a transaction is made, the receiving party can receive the coins instantly. When there is a transaction delay, the receiving party can easily check on the blockchain to know if the fund has been sent.

What Games Can You Play With Bitcoin?

There are many online casinos that support the use of BTC for gambling. These casinos would let you play available games if you have bitcoins. Some of the games that you can play with BTC are:

Bitcoin Crash

This game enables you to guess how high the multiplier goes. Guess correctly and win.

Bitcoin Baccarat

You can bet on the player, the banker or a tie in this card game.

Bitcoin Craps

This classic dice game gives you a lot of betting options and opportunities to exploit a low house edge.

Bitcoin Poker

Strive for a higher hand in BTC poker and win some good rewards.

Bitcoin Video Poker

Take the frustrations off poker by playing the BTC video poker version, which effectively is a more relaxing version of poker.

Bitcoin Sports Betting

Bet on your favorite teams in different leagues using Bitcoin.

Bitcoin Keno

This is one of the most exciting games. The same keno is available to be played with bitcoins.

Bitcoin Scratch Cards

This game enables you to reveal concealed prizes and win what you scratched.

Bitcoin Lottery

Everyone likes the lottery, even though few win. This allows you to play it with BTC.

Bitcoin Sic Bo

This dice game is strictly for you if you’re feeling lucky.

Bitcoin Rummy

Not ringing a bell, but Rummy is another exciting game to be played with BTC. Just know the right card to discard.

Bitcoin Bingo

Bitcoin also brings its excitement to the bingo game you already know. You could play the various versions of the game in BTC casinos.

Bitcoin Table Games

These are collections of the games you play on the table in the casino, now available with Bitcoin.

Bitcoin Live Dealer Games

Feel the connection with real people instead of playing with a machine. Live dealers give you the sociable feeling and still isolate you from the one-on-one contact.

Bitcoin Hilo

Predict that the outcome is either high or low and win on Hi-Lo with BTC.

Bitcoin Minesweeper

Navigate through the minefield safely while clearing them. Minesweeper has been monetized and available to be played with BTC.

Bitcoin Plinko

This ball game enables you to cascade and get the best of scores based on the slot your exit from at the base of the pyramid.

Bitcoin Slots

The one-armed bandit is well-known. You can even win the jackpot on it.

Bitcoin Dice

With 1% house edge, you can try your luck predicting the outcome of rolled dice.

Bitcoin Blackjack

Compare your card value with the dealer’s and win if you’re closer to 21 that they.

Evolution of online scratchcards and benefits of playing scratch cards in lotteries

Evolution of online scratchcards and benefits of playing scratch cards in lotteries Well, if you want to make your gambling game easier and stress-free, try picking a scratchcard. Depending on where you are playing, scratchcards are called different names. Some call it scratchie, scratch ticket, scratch game, scratch and win, etc. However, the scratchcard is a small card made of a tiny piece of paper and plastic to secure PINs. Some areas are concealed on this scratchcard and will need you scratching off the opaque covering to reveal the PINs. Be sure to note that scratch cards were birthed in the 21st century. Casino genie remains your number one trusted portal in playing this easy and fast-growing game.

EVOLUTION OF LOTTERY SCRATCH CARDS

The dawning of the computer age came with an invention, suggesting a change in the gambling community. John Koza, who studied computer science, suggested a randomized game with low costs simulated by computers with instant payout. With this technology, you no longer have to wait some days before checking if your lottery number is a lucky winner. John and his marketing associate Daniel came up with the scientific game in 1974, which later became a multi-billionaire company.

Massachusetts became the first state to sell scratch cards. With Daniel Bawler’s marketing strategy, he confused them to incorporating these cards into their lottery games. This, however, was a success, and the average income was doubled from $1 million to $2.7 million in sales.

Within a few years of sales, scratchcards soon became rampant all over North America. In 1985, Cal Tigner thought of a revolution and brought scratch cards to the streets. His invention was simple, consisting of a clear plastic dispenser just like those used in grocery stores. Before these inventions, cards were put away only to be available when requested by customers. Tigner’s company sold over 200,000 pieces of scratch cards by the turn of the century.

WHY SHOULD I PLAY SCRATCH CARDS?

Until now, scratch cards were played in the lottery booth. In 2010, they began playing online, which gives comfortability and accessibility at the same time. All you need do is visit the scratch card specialty section at the online casino

If you are looking for a break from the regular casino games, you might want to choose the scratch card. It’s relatively easy and straightforward. It has minimal losses and no specific strategy to win. Why should you play? You should because:

  • Your potential payout increases with an increase in your bet size.

  • Instant payout, easy, and no technical strategies to learn.

  • You need not visit a lottery booth; see the online casino

How do I play the online scratch card?

The first step is choosing an online casino. Then, you register but be sure that you are 21 years and above in other to join. The signup session is easy and straightforward; all you need to do is follow the steps closely. Fill in your bio data and verify your account by clicking a unique link sent to your mail. Upon successful login, you can sign in and claim your welcome bonus while you deposit via Bitcoin or USD. Once these are completed, you can now begin playing online scratch cards for real cash.

Be sure to note that scratch cards at online casinos are similar to those at the lottery booth. All you need to do is select your bet amount, which could range from $0.01 to $150 or more. Then you set up your playing card. After this, you get to scratch away to reveal if your online scratch card is a winner. That’s everything about playing online scratch cards.

Differences between online scratch cards and the regular scratchcards

Be sure to remember that technology has helped online scratch cards to enter the lottery community in style. Apart from the fact that the online scratch card is played online, it also comes with audio effects and animations. However, these two cards co-exist, but the online scratch cards are frequently played due to their jaw-dropping incentives. Some of the differences include

  • Anonymity:

By playing online scratch cards, you are 100% anonymous. No one but your browser and the online casino knows what you’ve been up to. It’s is, however, not the same as the physical card. If you want to keep your business private, you’d rather have it done online where it’s just you and your gadgets.

  • Bonuses:

Online scratch card players often enjoy bonuses. Online casinos often give these bonuses as incentives, and they come conveniently. Bonuses help to improve better payout chances and the player’s bankroll. Physical scratchcards do not give any bonuses.

  • Easy to play:

The online and physical scratch cards involve scratching off an opaque covering off the card to review the winning card. You’d have to use your hand for the physical card while cleaning and having to scratch gently. On the other hand, the online scratch card gives the comfort of just a click to check if your online scratch card is a winner.

Neil Channing

Neil Channing Born in Reading, Berkshire in 1967, Neil ‘Bad Beat’ Channing is best known as a professional poker player. Indeed, his total live earnings of $3,458,652 rank 27th on the England All Time Money List, according to the Hendon Mob Poker Database. Channing collected his best live cash so far, $1,263,261, or €801,400, when winning the Irish Open Main Event at the Citywest Hotel, Dublin in March, 2008 and was unveiled as a Sky Poker Ambassador in November, 2014.

Despite his prowess on the felt, Channing describes himself as a ‘professional gambler‘. He started playing poker, recreationally, as a youngster and, in his early twenties, graduated to playing tournament poker, albeit sporadically, at the Grosvenor Victoria Casino, London. Although, by his own admission, he was not the most attentive student, Channing graduated from the City of London Polytechnic with a degree in economics, by which point his focus had reverted to his first love, horse racing. He spent several years on the racecourse, making a decent living from placing and taking bets but, in his late twenties, his fortunes took a turn for the worse and he was forced to seek alternative employment.

Channing subsequently joined City Index, where he demonstrated a natural aptitude for spread betting, as an odds compiler and as a punter. Indeed, when he was made redundant, he opened an account with his former employer and won £140,000 in a nine-month period. Inevitably, his account was closed and he was also banned by Grosvenor Casinos for winning ‘a bit too much money’. Nevertheless, he continued to play tournament poker, with no little success, at Russell Square Casino, London – in the days before it was acquired by Grosvenor Casinos – but resisted the temptation to turn professional because of his involvement in other gambling ventures.

Channing formed a lucrative horse racing syndicate, such that, by the age of 33, he never had ‘less than a few hundred grand’ in his current account. In 1998, the deregulation of bookmakers’ pitches presented a new opportunity and he invested heavily in pitches at racecourses nationwide. However, the abolition of off-course betting tax, in 2001, coupled with the rise of online betting, sounded the death knell for that venture and Channing turned, once again, to poker, but this time as a full-time career. He was re-admitted to the Grosvenor Victoria Casino, albeit as a guest, where he played high stakes Omaha with money he ‘couldn’t afford to lose’.

Through thick and thin, Channing continued to visit Las Vegas for the World Series of Poker (WSOP), whether or not he could sensibly afford to do so. He collected his first live WSOP cash, $8,895, for finishing seventeenth in a Texas Hold’em event at Binion’s, Las Vegas in May, 2001, in the days when the fields were smaller ‘but everybody was a good player.’ Channing has yet to win a WSOP bracelet, but went agonisingly close to doing so when beaten in heads-up play by American Henry Lu, in a field of 2,770, in a No Limit Hold’em event at the Rio All-Suite Hotel & Casino in June, 2012.