Poker’s Popularity Means More Teen Gambling Addicts

To ask for help is a tremendous strength.”

Sarah Wallace, of ABC News affiliate WABC, contributed to this report.

. “So that’s pretty high.”

It’s a lesson one father — who wanted to remain anonymous — learned too late.

“You can get hooked on it,” said Corey Klar, “but when you do lose a lot of money, you are usually broke at the time and then you can’t play.”

Some Parents Say OKSo what do parents of teens think about their children’s afterschool activities?

“I find it somewhat comforting to know that any given time, if I have eight, nine, 10, 12 kids here,” said Mitch Bleistern, “that they’re all under one roof …

Playing for MoneyIn Long Island, N.Y., a group of teens sat around around a green felt table in the finished basement of a suburban home one recent evening, as clay chips and crisp $20 bills changed hands.

Know When to Fold ‘EmBut addiction specialist Sandy Klepner is worried about the growing number of teens she sees turning to gambling for fun.

The teens say they can win as much as $150 to $200 a night, but despite the risks, they’re not too concerned about getting hooked.

Losing, Then Betting MoreRyan says he had enjoyed neighborhood games of blackjack and poker, but only developed a problem when he spent a semester abroad in Monterrey, Mexico. “So I bet $1,000 on a game and then I’m down $2,000. Whether it’s Texas Hold’em, 7-Card Stud or Let it Ride, poker has been experiencing a major revival in recent years, and also reaching a younger audience that sometimes doesn’t know when to walk away. A disagreement about money, he feared, could quickly turn violent. But it wasn’t the depth of the hole he’d dug that scared him, it was his reaction to it.

“My recourse was to bet again — $500 and get even,” Ryan said. But after using a credit card to place his first wager of $500 and losing, Ryan didn’t stop betting — he did more of it. And unlike substance abuse, a gambling addiction can be tough to identify — you can’t see it, or smell it.

His concern for his son, he says, was not just for fear his gambling would spiral out of control, but for his physical safety, considering his son was playing with people who were drinking and could possibly be carrying weapons.

“That’s part of what makes it the activity that they want to do,” Jeff Granat said.

“Gambling brought me to a place where I never want to be again,” said one teen recovering from a gambling addiction, who asked not to be identified.

At first, Ryan says he just wanted to make up for money he had made in past summers as a camp counselor. “Right now gambling is riding the crest of popularity.”

Granat also said that with poker shows all over television and a wide variety of poker-based video games, it’s hard to argue against the game’s appeal.

“I can’t pinpoint it exactly, but I had a strong sense that I was out of control,” he said.

“If you have 10 kids playing, two of them are going to have problems,” she said.

“Not just with other people, but with yourself,” he said, “and to know that to ask for help is not a problem … “My reason to get out of the hole was to bet more — it wasn’t to stop and find help.”

Ryan finally came clean, graduated from an Ivy League college and now helps counsel other young gambling addicts. playing one game.”

These parents argue it is a positive activity that keeps them off the streets and out of trouble. it’s not a weakness.

He had no idea until months later that his teenage son had moved on from games in his Long Island neighborhood and was instead sneaking into Manhattan — gambling at various underground poker rooms.

“I thought I could bet on sports with my sports knowledge and win the money, but I found out that wasn’t the case,” he said.

“When you play for money, there is something to win and something to lose,” said Matt Bornstein. These teens say they often play more than that.

He says the key to overcoming a gambling addiction is honesty — with yourself.

The family is now in treatment through Gambler’s Anonymous, the same organization that offered help to Ryan, another young gambling addict.

“We thought he was at the movies with his friend,” the father said. The I was starting to get worried.”

Before he knew it, Ryan says he was $20,000 in debt. “When you don’t play for money there is no point.”

A recent nationwide study estimates 2.9 million young people are gambling on cards on a weekly basis. “It actually brought me to a place where I was actually considering ending my life as opposed to the reality I’d created for myself.”

A recent study found that more than 50 percent of kids who gamble reported problems like over-spending

Underage Teens and Online Gambling: The New Generation of Addiction

Andrew is now left with a great deal of guilt. According to the state Department of Human Services, one in every 25 teens already has a gambling problem. Additionally, she never considered money being a factor as she knew her son had no access to money. Leslie had always made a great deal of money as a private RN but recently lost the client she cared for and was having a hard time finding a comparable salary. It is our responsibility to keep them safe and share the affects of gambling and it’s addictiveness. Like any gambling addict he was caught in a vicious cycle looking for that win, the win that makes it all better. Andrew, a sophomore in high school, was a star student.

These findings are a huge wake-up call, especially to parents. Although laws are set up to restrict children from using these sites, the restrictions rarely work. Leslie had a huge eye opener as a mother and is now left with an excessive amount of debt as they were living off of that savings while she was looking for a higher paying job. Four of her children are grown and living on their own except for her youngest son Andrew, 15. Even more upsetting is knowing that someone he loved, his older brother, introduced him to such an addicting habit. At first she figured it was a bill here and there, being busy with work she brushed off the subsiding dollar amount in her savings account. She asked again, and again he refused. At first she contemplated where the money had gone, how it got spent, was it fraud? She decided to go into the bank and spent hours investigating the charges. Many parents may not even be aware of the fact that their children are involved in online gambling until it is to late.

In November, 2009 a single mother of a 15 year old boy told the horrifying story of her sons secret online gambling addiction that cost them almost everything that they had. In addition, 46% of children can get around blocked websites that their parents may have placed and 65% of children know how to clear website history (NCH and Tesco Telecoms 2006).

Our children are much more technologically inclined than we may know. Leslie teared up as she re-told this story, her eyes were filled with both hurt and disappointment.

Some of the most popular gambling sites are those that offer poker and other card games where tournaments can be played and children can make live bets against other members for money. In fact, the Federal Trade Commission did some searching of there own and found out the extensive number of online gambling sites that allowed children to sneak their way in regardless of age and credit card access. Andrews mother figured the changes were due to him being a typical teenager. Leslie was aware of her son playing poker online but figured it was a way for her two sons to connect, it was something fun they did together and she was told no real money was involved.

~Introduction to gambling early on in life can increase the likelihood of becoming an addictive gambler later in life.

~Children of parents who are heavy gamblers are more likely to become problem gamblers themselves.

~Boys are more likely than girls to develop gambling problems.

~Children with gambling problems are more likely to use drugs and alcohol.

~Children with gambling problems are more likely to experience depression, anxiety, and suicidal thoughts and or attempts.

~Children with gambling problems are more likely to perform poorly at school.. Gambling is becoming the new generation of addiction. He was part of the high school football team, a great athlete, and brilliant with web design and video production. Finally being left with no other choice he admitted what he had done, with his head hung low Andrew muttered the words, “I spent the money, it was me”. is the single mother of five children. But for this story, like so many others, nothing got better- it only got worse. The Gambling Commission did an extensive study in 2008 and they found a great deal of important information in regards in regards to children and gambling:

Apparently Andrew was concerned about his mothers financial state and after his older brother introduced him to the world of online gambling he felt he could help. Ca. The Cramers were facing hard times just as many others is in today’s economy. He gained access to her bank account information and signed up for an account that drafted money from her savings account.

Images Courtesy of: sxc.hu

Online Gambling: The Multi-Billion Dollar Addiction

Online Gambling is on the rise among young children and teens. He knows he was wrong and knows that it became a very bad and addicting habit. In this case it was an older sibling. Another study, conducted by ICM on behalf of NCH and Tesco Telecoms, found that 13% of children are never supervised while using the internet. It is usually parents who set this example and children tend to follow. Sadly, an innocent gesture turned into a horrible addiction that cost his mother her entire savings.

Most children who find their way into the world of gambling do so by learning from others. Online e-casinos allow children the possibility of accessing online gambling right from their own home. Living in a more upscale neighborhood in California and trying to make ends meet, Leslie was left stressed and her struggles often showed. Parents must be aware of how and when their children are using the internet. After a few weeks she decided to call the bank as her balance was now substantially low and had gotten significantly lower within a few short days. Andrew spent much of his time with his older brother as his mother worked long hours as an RN. In regards to problem gambling, poker has become one of the top three gambling addictions. The more he lost, the more he spent. If only she has seen the signs sooner.

Leslie Cramer, of Ladera Ranch. To many poker is seen as the new sport of the century. She never had reason to doubt her son as he has always been honest and was a good kid. Upon returning home she confronted her son, she asked him to log into his account on Poker Stars, where he spent most of his time playing online poker, he refused. Regardless of where it is learned, it is a serious problem that needs to be addressed. No one knows just how he squeezed through the system as a 15 year old, but he did. Additionally, one in every ten teens is at risk for developing a gambling problem. Andrews older brother introduced him to online gambling a few months back. One of the greatest resources for children to access gambling is online. Tournaments are televised, we watch celebrities play poker on TV, and now kids can have their own version of casino style poker right at their fingertips. The sudden recent increase in money he spent gambling was due to the fact that he became worried, he wasn’t winning the money he had planned on and he was spending more than he knew he should be.

If you feel your child may suffer from gambling addiction help, advice, and treatment referrals can be obtained through the National Council On Problem Gambling’s confidential hotline at: 1-8000-522-4700.

Other articles on online gambling:

Over time Leslie began seeing her bank statement balance decrease. Upon contacting the bank she was informed that over $7,000 had been spent on internet transactions over the course of a few months. In the recent months Andrews grades started to slip, he quit football, and lost interest in almost all of the things he use to love. Although online sites are suppose to restrict access to children there is no full proof way to keep kids out. The more he spent, the more he lost. The implications of underage gambling are detrimental

State-led gambling busts lead to forfeiture, selective prosecutions

Authorities note that in Georgia, wagering money on golf and small card game betting is by law considered gambling and therefore illegal.

. The money is from a $175,000 settlement via ‘forfeiture’ from one of the Macon gas stations involved in a large gambling raid which occurred in November 2014. Based upon this cooperation, no criminal charges will be filed with respect to this location.”

On Wednesday, January 7, Central Georgia’s NBC affiliate — Macon’s WMGT-TV– reported that the Bibb County Sheriff’s Department will be the beneficiary of a check given by David Cooke, the district attorney in Bibb County. However, remarkably, no one was officially indicted and the six people who were arrested will not face a trial or any jail time.

Cooke officially presented Macon-Bibb Sheriff David Davis with a check for $43,929 for the sheriffs offices share of the settlement, which Davis said would serve as seed money to eventually help outfit deputies with body cameras. The cost, according to Davis via the Telegraph, could reach $300,000.

At a press conference David Cooke, Bibb County’s district attorney, said the following: “Based on the evidence we developed in the course of this investigation, the owners of the Shell station ultimately decided to cooperate with the state. In December 2014, Bibb Sheriff David Davis had gone on record publicly in voicing his support for the use of body cameras and is hoping that he can equipped his deputies this summer.

Even though Macon’s District Attorney did not file charges regarding local convenience store owners, fourteen people who were arrested from a separate June 2014 bust in the southwest Georgia town of Albany were formally indicted in early January 2015.

The scale of the arrest was so large that District Attorney Greg Edwards recused himself from prosecuting the case. A special prosecutor had been named for the recent high-profile gambling case involving former Albany mayor Willie Adams, businessman Robert Bob Brooks and 12 others. Davis, who assumed office after being elected in November 2012, estimates that three hundred cameras will be needed to outfit all patrol deputies. … Eleven Macon-Bibb convenience stores were raided and six people were arrested. A formal funding request is likely to be forwarded to the nine-member Macon-Bibb Board of Commissioners sometime when Fiscal 2016 budget is up for discussion and passage in July 2015. Statements from those arrested noted the game had been ongoing for years. The Georgia Bureau of Investigation raided a poker game at the former Riverhouse Restaurant on Lake Chehaw. The June 2014 arrest originated from a search warrant which was executed at a suspected gambling house in Albany. Plus, the collaborative effort of the Georgia Bureau of Investigation and the Macon-Bibb County Sheriff’s Department produced Bibb County’s largest-ever commercial gambling bust–ever

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Congress should act on ‘scandalous’ fantasy betting: Reid | Reuters

The group declined to comment.

(Reporting by Andy Sullivan and Diane Bartz, writing by Andy Sullivan; editing by Alan Crosby)

Meanwhile, Representative Frank Pallone and Senator Bob Menendez, both New Jersey Democrats, asked the Federal Trade Commission to look into the fantasy scandal.

Both companies confirmed on Monday that a DraftKings employee won $350,000 from a $25 entry fee in an American football contest. But they may raise the DraftKings incident as another example of perils of online betting as they make their case, according to a former congressional aide now working to ban online gambling.

Critics say daily fantasy sports services allow fans to bet with a frequency akin to gambling and led to the rise of the two industry leaders.

So far, fantasy sports services have escaped the restrictions that have outlawed sports betting in most states.

The two privately held companies say they temporarily banned employees from playing daily fantasy sports.

Reid’s statement raises the prospect of congressional scrutiny and possibly new regulations for websites such as DraftKings and FanDuel that have drawn millions of users who pay a fee to compete for daily prizes by assembling teams that accumulate points based on how the players did in actual games.

WASHINGTON The top Democrat in the U.S.

Online gambling foes who are pushing for a nationwide ban on casino-style Internet gambling are not yet targeting fantasy sports services. . Senate called on Congress to examine fantasy-sports betting services on Tuesday after reports that an employee with access to insider information placed bets in the unregulated multi-billion-dollar industry.

The House of Representatives could hold hearings this fall, said Pallone, the top Democrat on the Energy and Commerce Committee. According to a trade group, the employee inadvertently released player data – a practice that experts liken to insider-trading.

“There’s absolutely scandalous conduct taking place through those programs, fantasy sports,” Senate Democratic Leader Harry Reid told reporters. The Republican-controlled committee is looking into the issue, a spokesman said.

The issue could draw the attention of conservatives like House Judiciary Committee Chairman Bob Goodlatte, who has pushed to outlaw other forms of online gambling. “I think it also should be a warning-shot to everybody that online gaming is a real scary thing and we ought to look at all of it,” said Reid, who is a former Gaming Commission head in Nevada, a hub of the industry.

The Fantasy Sports Trade Association has spent $80,000 over the past year to defend its interests in Washington, lobbying records show

Sports betting vs. the stock market: Which is riskier?

Manning is really, really good at what he does for a living.

All or nothing: Gambling on sports tends to be a zero-sum game.

Such hedging tools are not as readily or even feasible to sports gamblers, Fine said.

They both believe they can predict the future, and they sometimes fall into the trap of making decisions with their hearts instead of their brains. He asked for his identity to be withheld due to legal concerns.

To put it another way, the stock market is a lot more forgiving than the MGM Grand (let alone your local sports bookie).

However, someone sinking $500 into Apple stock has little risk of losing that entire initial investment, especially in the short term.

Related: Apple and 9 other stocks hit new records

Investors also have the ability to spread their money out among many stocks.

“You can hold onto your betting tickets all your life, but you’re not going to get squat,” said Stovall.

But don’t let those similarities fool you.

But take it from one person who has lots of experience in both worlds.

CNNMoney (New York) First published August 31, 2014: 8:14 AM ET

.

And investors have greater access to tools that can minimize the risk of losing money.

At the same time, investing in stocks actually carries higher upside potential. For example, a stop-loss order instructs a broker to dump a stock when it tumbles below a specific price. People often invest in funds that buy dozens or even hundreds of stocks, which helps reduce the risk. And of course, they both hate to lose. Gambling on football star Peyton Manning to win might seem like a safe bet, especially compared with picking winners in the stock market.

Related: How $2 billion Clippers bet could pay off

Gamblers and investors also have far different time horizons. And in neither instance can you be guaranteed to be correct,” said Randall Fine, managing director of The Fine Point Group, one of the casino industry’s largest consulting firms. Which casino in Atlantic City, Las Vegas or Macau pays the bettor 73% of the time?” said Sam Stovall, chief investment strategist at S&P Capital IQ.

“A large, steady company has a low chance of plummeting and causing you to lose all your money, but even Peyton Manning doesn’t cover the spread sometimes,” he said. It’s easy to see why fans may be tempted to gamble on their favorite teams and athletes. Gambling on sports may be more fun, but it’s definitely a more risky use of money than putting it in the stock market. While many stocks offer steady returns, investors sometimes hit the jackpot (think: buying Apple back in early 2009 or Tesla in 2012).

In the long run, investors have the chance to make more money because there are fewer downside risks.

The same can’t be said for those who bet big on the Denver Broncos last Super Bowl.

“Betting is more difficult and riskier,” said one resident of Hoboken, New Jersey, who bets on illegal gambling sites and also invests in stocks. Heck, even his commercials are funny.

Related: 4 reasons September could be good for stocks

The betting appeal: Americans bet an estimated $380 billion each year on sports.

“You’re making a wager based on some facts and some intuitions.

Those are pretty good odds.

Even the unlucky investors who jumped into the market at its peak in October 2007 eventually made their money back when stocks reclaimed their pre-recession levels in 2013.

A stock can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye. The stock might go up and down some, but it typically doesn’t go to zero. A bettor gambling on the Green Bay Packers will instantly lose his or her entire $500 bet if Aaron Rodgers and his teammates fail to win or cover the spread.

“A lot of people regard investing as gambling, but I frequently say no.

That’s the percentage of time that Stovall’s research shows the S&P 500 — the gold standard in the stock market — has increased in value during the years since 1926

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N.J. becoming 3rd state to offer Internet gambling

One casino, the Golden Nugget Atlantic City, was left out of the test after its systems did not pass rigorous state testing.

But the Golden Nugget said it hoped tobe cleared to join the others later Thursday or on Friday.

The casinos approved by the New Jersey Division of Gaming Enforcement collectively will offer 13 websites where customers can make real-money bets. . “Testing has been going on for months. – New Jersey is poised to allow adults in the state to click a mouse or swipe a screen for a chance to win money, making it only the third state to offer online gambling.

“This is a very exciting time for Atlantic City and for the gaming industry,” said Alisa Cooper, a commissioner with the New Jersey Casino Control Commission.

He said all indications suggest the system should work as designed to meet strict regulation and protect players.

The participating casinos are the Borgata Hotel Casino & Spa; the Tropicana Casino and Resort; Trump Plaza Hotel and Casino; the Trump Taj Mahal Casino Resort; Bally’s Atlantic City and Caesars Atlantic City.

A five-day trial period of Internet gambling begins Thursday night when players invited by casinos to test their systems make real-money bets online.

PokerStars, the world’s largest poker website, was not cleared to participate in the test with its land-based casino partner, Resorts Casino Hotel. PokerStars spokesman Eric Hollreiser said the company is continuing its talks with the state Division of Gaming Enforcement.

“However it is now apparent that we will not have approval in place to launch on Nov. Gaming Enforcement Director David Rebuck said he hopes to push the system and test its capacity.

“I’m cautiously optimistic,” he said. 26,” Hollreiser said. ”We remain committed to working with the division to complete the review process.”

Six of the seven casinos given permits to conduct Internet gambling in New Jersey were cleared to start taking bets during the trial run starting at 6 p.m. Thursday. I don’t think there is any online gaming anywhere in the world that is going to be monitored as closely and protect the integrity of the games and players’ money as well these will.”

“With the dawn of Internet gaming, we are on the cusp of perhaps the biggest change – and challenge - since the first casino opened here,” Cooper said.

If all goes well, Internet gambling will be available to gamblers in New Jersey starting Tuesday. The test also will evaluate electronic payment technology and the integrity and functionality of the casino games.

Regulators say from 500 to several thousand people could be online at any one time during the test period. The test period was established to determine whether sophisticated technology designed to ensure that all gamblers are in New Jersey and at least 21 years old works correctly. The only other states with online gambling are Nevada and Delaware.

Hours before the test was to begin, a state lawmaker unveiled a proposal to lure foreign online gambling companies to New Jersey. Sen. Raymond Lesniak’s bill would entice foreign betting firms to set up shop in the state – even though they could only take bets from overseas gamblers - and be subject to New Jersey’s famously tough casino regulation.

The payoff to New Jersey would be a 15 percent tax on their winnings, plus payments into a fund to raise $20 million a year for three years for New Jersey’s struggling horse racing industry. Lesniak said the foreign companies want the stamp of approval that strict New Jersey regulation would bring.

Online betting will mark the biggest expansion of gambling in New Jersey since casino gambling began in 1978.

ATLANTIC CITY, N.J

A Bet You ALWAYS Win – How Sports Betting Arbitrage Works

They then exploit this difference by selling in one location and buying in the other. Each online betting site has to maintain it’s own ‘book’, and it would be a strange world indeed if they all had the same number of punters, all betting the same way and the same amount, meaning they all had to offer the same odds!

Generally, you can bet risk free on any sporting event with either 2 or 3 outcomes, such as Football, Baseball, Boxing, Basketball, Tennis, Soccer, Golf, Snooker, Cricket, Hockey, Ice Hockey and Darts. Are the odds always as good as in the example? No. The main problem is the size of the account you need to make a useful profit. The difference between the odds offered by 2 bookies, and exploited by an arbitrageur, may only amount to a fraction of a percent, meaning that you may have to wager several thousand dollars to win 5 bucks. Nothing wrong with that, you think? Not if the bet is 100% guaranteed? But what about if thru the vagaries of the internet, you manage to get one side of the bet on at the right odds, but not the other? You are left holding a LARGE position. Simply exploit the difference. Also, accounts of this size are viewed with some suspicion by the bookies – they will want to know that you aren’t (for example) money laundering.

Enjoy!

About The Author

Mr Schultz is a writer for www.supabets.com bet site an archive of free tips and trix for betting fans, where he concentrates on sports betting rules.

This article was posted on February 10, 2005

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. For example, in a boxing match, the US champ will, of course be favored by the US bookies, but the UK challenger will be top bet at the UK bookies. As you recall, it was close. Sometimes, the differences are deliberate. But what you could have done is put on a bet with UK bookie Coral that Kerry would win, and the odds they would give you would have been 6/4 (i.e. Usually the difference will be small.

So how does 100% winners, no risk sound? Groovy, huh? But there are, of course, problems. By exploiting the inefficiencies of some brokers, a win can therefore be guaranteed. It works even within the US too – a Varsity football match, for example, may find the out of state team offering you an opportunity to arbitrage within the home team state depending on the demographics of the customers using two US online bookies.

A Bet You ALWAYS Win – How Sports Betting Arbitrage Works

by: Kevin Schultz

Betting arbitrage is a method of creating a bet that has a zero risk – in other words, you always win! The concept of ‘arbitrage’ comes from the financial world, and describes the activities of traders who find two different places offering the same trade, but at different prices. No one knew for sure which way it would go. The advent of online betting sites meant that the punter could suddenly check prices at a multitude of different locations very quickly, and open bets at those that had ‘slipped’ out of line. The same thing applies to betting arbitrage, typically on sporting events. That is why you need large accounts.

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So ok, you know the risks, but how does it actually work? Let’s go back to the US election between Bush and that Herman Munster guy, the Democrat fella with the long face (Kerry? Curry?). Whatever happens to price, they make a profit on the difference between the original 2 prices. a US 1.5 – bet $800, return $2,000).

At the same time, your fave US bookie might have given you odds of 6/4 on Bush! That means if you took both bets, you are betting (risking) $1,600, but will win $2,000 WHATEVER the result! Easy money or what? Bank a cool $400 for nothing.

How often does this happen? Quite a lot