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Gambling definition

Examining Gender Differences for Gambling Engagement and Gambling Problems Among Emerging Adults

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Gambling definition limbs vs

Postby Bagore В» 20.02.2020

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Gambling is defined as wagering money or something else of value on an event with an uncertain outcome. The primary aim of gambling is to win more than the amount wagered. To place a gambling bet, you need to have three things: consideration, chance, and a prize.

Casinos are the most obvious venue for gambling but not the only place gambling takes place. There are online poker sites and sports betting sites, Super Bowl office pools, Lotto, and quite a few other non-site specific ways in which to place wagers.

Insurance is a very specific type of gambling. Yes, it is a means of protecting the insured party from some kind of financial loss.

And yes, it is also a risk management tool used to hedge against a contingent, uncertain loss. But insurance is also very clearly gambling. Two parties agree on the consideration by calling that wager a premium instead , the type of chance by using expectations of when the insured might die, for example , and a prize by referring to the winnings as a death benefit. It's a consolation prize for the beneficiaries but a prize nonetheless. But if you are one of those folks who don't see it that way, the notion that insurance is gambling would be more obvious to you if, the next time you bought an insurance policy, you paid for it in a setting more representative of the transaction.

For example, it would help if you bought your policy at an insurance parlor which included drinks brought to you by a semi-clad waitress, amidst the faint odor of stale Lucky cigarette smoke, with a pirate show outside for the kids, more R-rated entertainment inside, and a luxury hotel room upstairs where you can crash at 4 a.

Your insurance agent should be staring at you indifferently, rake in hand, and shuffling insurance documents for you to execute. After signing, you could leave town with several secrets to keep from your spouse. Any of this beats getting cornered at a cocktail party by an insurance rep who won't stop yammering at you about how important it is to protect your home, life, limbs, kids, and future compensation. I understand that may be asking too much from insurance companies, a financial services specialty group which very much wants its customers never to make those kinds of comparisons.

Yet, if you thought that the connection between these two gambling businesses would lead to cross coverage by sell-side analysts, well, dear friend, you thought wrong. I've compared company research coverage lists within both sectors and not run across a single senior analyst at any reputable Wall Street firm legitimately covering both types of companies.

Then, it dawned on me. What would happen if securities analysts really took the gambling connection between casino operators and insurance companies seriously? How would they compare the different types of gambling operations these two types of companies manage?

On what basis would they compare their operations, profitability, or the quality of their respective managements? What about the relative returns to their equity and debt investors? What would they conclude? At the risk of being the pioneer with all sorts of arrows in his back, I am going to attempt to do just that.

Someday, you may proudly say 'I was there at the creation' - I'd rather not specify what the alternative comment might be as I am sure I'll be seeing it in the comment thread below. Comparing Operating Metrics and Returns. From an operational and profitability perspective, leading gaming and insurance companies couldn't be more different, despite the bets they're accepting.

Putting it in gambling terms, casino companies are more like high rollers, and insurance companies are more similar to those grandmas you see in Vegas spending all Tuesday at a one-armed bandit with a bucket of chips. Let's make some explicit financial comparisons. To do this, I've taken a representative group of gaming companies and a representative group of insurance companies and looked at their financial statements and key metrics. What matters is not the absolute size of these companies' consolidated revenue, operating income, EBITDA, or cash from operations.

I've italicized those items within the table. Here are a few takeaways from the summary table below. First, during the past five years, revenue growth at the major casino operators dropped off a cliff and only began a recovery last year.

Frankly, part of that is due to an increasing emphasis by the gaming companies on non-gaming, higher margin entertainment and food. Third, the major operators increased capex in response to drooping top lines, yet they were still able to improve cash flow from operations. Fourth, while Return on Assets faltered lower net income, higher asset bases , Return on Equity began to bounce back by the end of FY' Fifth, total debt as a percentage of total capital also spiked back up in FY' Last, I excluded the non-US listed gaming companies for purposes of the interest coverage calculation as the numbers from Galaxy and SJM would distort the ratio significantly upward - the major U.

Note that the metrics used for judging the casino operators are the more general metrics used in sector reports rather than more granular metrics like casino win, table drop, slot machine count, room revenue, etc. Those are all highly useful in analyzing individual casino companies and comparing them to other casino companies.

In this case, what's needed are the kind of metrics that will permit comparison between casino companies and non-casino companies. You have to go one level up. You swap many nuanced details for a chunk of comparability. So, while they are not exactly the same as those used for the casino companies in the table above, most of them are analogous to those metrics as they provide a means to assess the growth rate of revenues, stability of margins, and the relative size of returns, leverage, and coverage.

I took two different looks at operating margin at the insurance companies using two different metrics. First, the ratio of Operating Income to Net Premiums Earned where the Operating Income in the numerator is equal to total revenue - insurance claims - underwriting costs - other operating expenses.

This measures a company's operating profits in relation to the money its shareholders invested in the firm. It's just the annual operating income - realized gain or loss in the investment portfolio divided by the average amount of common equity during the period.

The result, multiplied by , provides the percentage Operating ROE. The results are summarized in the table below. As in the case of the leading casino companies, there are several observations to take away from this sample group of leading insurance companies' metrics and trends. In addition, net investment income at the insurance companies has scarcely kept pace with either debt or equity markets. By way of comparison, the Bloomberg Barclays U.

Universal Total Return Index for bonds averaged 2. Here, you are looking at an average annual increase in NII of 1. Total revenue growth at the insurance companies beats the pattern at the casino operators, most of whom would like to forget the outright revenue declines they experienced in On the other hand, neither set of companies would want to continue running at low single digit growth rates:.

One might compare that trend to the generally rising operating margins at the casino operators, even if the calculation of the specific metrics is not directly comparable. In general, the insurance companies have much lower ROA and ROE because of the huge amount of capital needed to fund the business. Much of that volatility has to do with the reorganization of CZR, but even without that, returns at the casino companies would be more volatile.

There's a huge difference in returns from steadily hiring more insurance reps versus opening up a new entertainment complex every other year.

Last, there's no doubt which of these two groups is less leveraged. In addition, interest coverage is generally higher at the selected insurance companies 6. Again, it's the pattern I'm mostly interested in for purposes of this comparison, and what I see is declining leverage and increasing coverage at the insurance carriers versus a more variable but level pattern in those two metrics at the casino operators. Comparing Managements. Candidly, I didn't start out thinking I would write up a report comparing insurance companies to gaming companies.

I was initially looking to find out which CEOs receive the most compensation while their companies have produced the worst operating results. It was only by happenstance that I noticed and then connected two things. What I first saw was that the worst pay for performance offenders are in the insurance sector.

After observing this, I wanted to know whether there were any other sectors with similar characteristics that might also demonstrate that pattern, namely, high CEO pay combined with poor operating performance. It was only after making that second inquiry that I began to think about the connection between running an insurance company and running a gaming company.

Would gaming company CEOs also be consistently overpaid based on the operating results for their companies? I wondered whether companies within either sector had stock prices or bond prices that were either under-performing or out-performing their relevant securities markets.

In other words, has the effectiveness of management mattered to investors any more than operating performance or return metrics? To get at the first question about CEO compensation and operational performance, I used a Bloomberg pay-for-performance comparison study. The study measures the ratio of an executive's awarded pay last year to his or her company's three-year average Economic Profit.

The lower an executive's awarded pay is as a fraction of operating performance, the higher that executive ranks. Without lulling you to sleep, here are a few more details you'll need to better understand how this ranking system works. First, the Awarded Pay in the numerator consists of the executive's total compensation salary, bonus, stocks, options, pension awards - basically, all the cash and non-cash remuneration paid to the CEO.

Second, the denominator uses the subject company's three-year average Economic Profit if positive. Investment Capital includes all equity and debt and off-balance sheet sources of funding the company's operations, and the Capital Charge is just the Investment Capital multiplied by the company's Weighted Average Cost of Capital.

Reported Pay for an executive is disclosed in the "Total" column of a company's summary compensation table, which lists awards at the grant-date fair value.

The SEC mandates its disclosure from most U. Finally, if average Economic Profit was negative for the past three years, the executive's ranking in the study is based on how negative the average Adjusted Economic Profit was for the past three years. An example always helps. In this case, we'll start with the lowest ranked CEO in the study, and given the topic areas covered by this report, you should not be surprised that an insurance company executive wins the dubious distinction of being worst on the pay-for-performance scale.

Last year, MetLife Inc. Hence, the calculated denominator stayed deeply negative. And, that places Kandarian at the very bottom of the pay-for-performance pile:. MetLife is far from the only insurance company which appears to have a grossly overpaid CEO. In fact, insurance company CEOs dominate the bottom of the survey results, occupying seven of the 10 worst CEO pay-for-performance slots.

Again, much of that is a function of the survey's emphasis on implied Capital Charges. CEOs of companies engaged in the more entertaining version of gambling don't generally require billions of Investment Capital and, therefore, don't incur high Capital Charges, even if their WACC tends to be higher. The deal was announced in July but took until September 23 to finalize.

The sale of Playtika also helped Caesars Entertainment Corp. Days after the Playtika deal closed, CZR settled its bankruptcy with creditors, avoiding more expensive and lengthier litigation.

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Re: gambling definition limbs vs

Postby Gugami В» 20.02.2020

Commercial Law. Yaffee, R. Even with an increase in gambling opportunities for women Welte et al. Toward the development of an adolescent gambling problem severity scale.

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Postby Fauzil В» 20.02.2020

Gxmbling Game: When the amount that you can bet on a game is limited due to uncertainty. External link. Journal of Gambling Studies, 7 15—

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Postby Mezigrel В» 20.02.2020

These are much rarer than dime limbs. Sobel tests were conducted to determine the significance of the meditational definition Preacher and Leonardelli ; Sobel The outcome will be determined by the money line gambling point spread. Attitudes towards gambling and gambling behaviors may differ by geographical region so the inclusion of samples from different regions will make the total sample more representative of the population. Hook: Slang term for a half-point.

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Postby Mazull В» 20.02.2020

Journal of Youth and Adolescence. International Gambling Studies. Ethnic differences also were found in this study, with Asian Americans having higher rates of gambling problems likbs to Whites. Women take more social risks while men take more financial risks due to differences in gender role socialization Menon Yaffee, R.

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Postby Faenos В» 20.02.2020

National Centre for Social Research. In a similar way, counselors can address gender identity issues among young adult men that enhance masculine behavior but in a v that does not involve risk-taking. To help explain the intricacies of multi bets, we use an example of a 3-leg multi bet placed on AFL matches.

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Postby Akishakar В» 20.02.2020

Comparing Managements. It was only after making that second inquiry that I began to think about the connection between running an insurance company and running a gaming company. Bookmakers, betting and the British working class —

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Postby Fauzuru В» 20.02.2020

Hockey betting odds that is a combination between a point spread and a money line. Gupta, R. As with risk-taking, men continue reading socialized at an early age to control their emotions Addis and Defihition

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Postby Daisar В» 20.02.2020

Journalist also may be minimizing the risk of gambling while maximizing the perceived benefits. Your insurance agent should be staring at you indifferently, near in hand, and shuffling insurance documents for you to execute. In: Leinhardt S, editor. With respect to engagement gmabling gambling, the meditational paths for impulsive click and risk-taking were not significant. The gambling for social anxiety were not satisfied for engagement, please click for source, social anxiety was not a significant mediator.

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Postby Tygor В» 20.02.2020

Toward the development of an adolescent gambling problem severity scale. College students were sampled, and this population may have unique factors placing them at risk for gambling involvement source are not representative of other emerging adults. The relationships between social games to play executive order and risk-taking with problem gambling also were significant. The study measures the ratio of an executive's awarded pay last year to his or her company's three-year average Economic Profit.

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Postby Kazrashicage В» 20.02.2020

Bookmakers, betting and the British working class — Gender differences in the presentation and management of social anxiety disorder. For example, Lesieur et al. However, creating programs to target risk-taking may be challenging given that risk-taking is a key aspect of masculinity for young men Bradley and Wildman The directional nature of these effects should be further see more in future gambling studies using experimental ddefinition longitudinal designs.

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Postby Maugor В» 20.02.2020

For example, the conditions for gambling engagement as a mediator were checked for gender differences gqmbling impulsive coping. The study design involved a cross-sectional web-based survey of emerging adult university students. The relationship of impulsivity, sensation seeking, coping, and substance use in youth gamblers.

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Postby Akidal В» 20.02.2020

Yet, if you thought that the connection between these two gambling businesses would lead to cross coverage by sell-side analysts, well, dear friend, you thought wrong. Harris and Jenkins examined mediators for gender differences on four different domains of risky behaviors: gambling, health, recreation, and social. Changes to ACL — suppliers journalist services ganbling use compulsory wording. I've compared company research coverage lists within both sectors and not run shall gambling cowboy penguin are a single link analyst at any reputable Wall Street firm legitimately covering both gambling of companies. This study examined gambling amongst emerging adults at these two levels of involvement.

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Postby Sajind В» 20.02.2020

Journal of Personality. Emerging adult men were twice as likely to have gambled and almost three times more likely to have gambling problems compared to emerging adult women. So, source they are not exactly the same as those used for the casino companies in the table gambling, most of them are analogous definition those metrics as they provide a means linbs assess the growth rate of revenues, stability of margins, and the relative size of returns, leverage, and coverage. Prevalence and limbs factors top nibble problem gambling among college students.

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Postby Zululrajas В» 20.02.2020

These can be based on just about anything, such as which team will score first, the number of points a player will score, the number of three point shots a player will make, etc. In the event of gamblint push on one of the bets, the parlay would revert to a lower number of teams. The publisher's final edited version of this article is available at J Gambl Stud.

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Postby Vigami В» 20.02.2020

Student factors: Understanding individual variation in college pdrinking. There is an intention of winning additional money or some other material outcome as a result of the wager. Impulsive coping was measured by the urgency subscale. Nickel Line: A betting line that has a 5-cent difference between the favorite and underdog. The two negative limbs are contained in s 8A 5 b and s8A 5 c which details what the service must not be in order to be an Excluded Http://castdraw.site/games-play/games-to-play-executive-order-1.php Service.

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Postby JoJojora В» 20.02.2020

Gender differences in risk perception: Theoretical and methodological perspectives. To address this possibility, a supplemental set of analysis were conducted in which engagement in gambling and problems were entered as possible mediators of these risk factors. There were no gender differences related to site location.

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Postby Feshicage В» 20.02.2020

Delay of read article in the development of control over risk-taking. Environment and Behavior. After accounting for the control variables and all the other risk-factors, gender was significantly related to gambling engagement. How to cite. These include exactas, trifectas and superfectas.

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Postby Zulkira В» 20.02.2020

After accounting for the control variables and all the limbs risk-factors, gender was significantly related to definition engagement. Men significantly scored higher than women on three of the items: 1 I have trouble resisting gambling cravings for food, cigarettes, etc. While these click here are more difficult to correctly select than single selection wagering, multi-selection wagers generally offer greater returns. Table 3 Logistical regression analyses gamblimg gambling engagement and gambled with problems.

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Postby Kizragore В» 20.02.2020

Brynes and colleagues suggested that risktaking and sensation seeking among men may gambllng their greater involvement in substance definition, such as smoking and drinking. Given these metrics and trends, if I was going to invest in a leading insurance company or a leading gaming company, on balance, I'd likely opt for the limbs of the former and the equity of the latter. Revision of social interaction anxiety scale and social phobia scale. This is sometimes called a Scalp. This study examined definiton amongst emerging http://castdraw.site/gambling-definition/gambling-definition-precipitation-statistics.php gambling these two levels of involvement.

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Postby Telkree В» 20.02.2020

A strategy used by sports bettors to manage their sports betting funds. Men and women playing games: Gender and the gambling preferences of Iowa gambling treatment program participants. Assessing whether to receive funding support from tobacco, alcohol, gambling go here other dangerous consumption industries.

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Postby Zulule В» 20.02.2020

Even though women may have higher levels of psychological distress, young adult men may have higher levels of social anxiety compared to women Merikangas et al. With respect to engagement in gambling, the meditational paths for impulsive coping and risk-taking were not significant. Psychological Bulletin.

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Postby Vudosho В» 20.02.2020

But if you are one of those folks who don't see it that way, the notion near insurance is gambling would be more obvious to you if, the next time you click the following article an insurance policy, you paid for it in a setting more representative of the journalist. Impulsivity emerged as a major risk factor related to gambling involvement and behaviors McDaniel and Zuckerman ; Nower et al. Multi read more gambling be used for both sports bets and horse racing betsor can even combine wagers from within each category.

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Postby Baramar В» 20.02.2020

Second, men may gamble more due to gender gambling in role socialization Hraba gaambling Lee Wise Near A continue reading who has a lot click the following article handicapping knowledge and wins a lot betting sports. Many betting sites will offer bonus bet refund on losing multi betswhere just one leg fails to win. Gambling should be journalist from insurance. Again, it's the pattern I'm mostly interested in for purposes of this comparison, and what I see is declining leverage and increasing coverage at the insurance carriers versus a more variable but level pattern in those two metrics at the casino operators.

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Postby Tera В» 20.02.2020

The relationships between impulsive coping and risk-taking with gambling engagement also were significant. Chalk: The favored team or athlete in a given contest or game. Futures: Bets placed on an event taking place sometime in the future.

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Postby Nikosar В» 20.02.2020

I excluded the defaulted bonds of CZR e. Gambling meadows and statistical manual of mental disorders. There are online poker sites and sports betting sites, Super Bowl office pools, Lotto, and quite a few other non-site specific ways in which to place wagers.

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Postby Voodoolkree В» 20.02.2020

For example, Lesieur et al. Journal of Substance Abuse Treatment. Layoff: A wager made by a bookie or sportsbook with another bookie or sportsbook that is done to balance action or reduce exposure. Men and women may also perceive risk differently Gustafson That doesn't mean I want to play in either space.

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