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The Casino, Club and Hotel Environment

 

 

1. According to Delfabbro (2009) games of chance can be classified across four dimensions.
Explain one of these dimensions and identify a form of gambling at each extreme point of
this dimension.
2. Do you agree with the statement that ‘people gamble because it is fun’? Explain why or why
not.
3. Using the history of gambling in the USA, describe the economic and technological
influences on the expansion of gambling.
4. Reflect on what you have learnt so far in this unit. Have you found any of the material
insightful or challenging to the view you had on gambling before you started the unit?
Why do you think this is?
1000-word answer (30%)
You have $500 in your pocket and must gamble this at Crown Casino, in Melbourne, Victoria,
Australia. You want to maximise your chances of winning (or more accurately minimise your
losses) and can only play one game. The games to choose from are poker machines, blackjack,
traditional baccarat, roulette 0, roulette 00, and craps, and you are really looking for the game
6 | BUS00211 The Casino, Club and Hotel Environment (Session 1, 2016)
with the best odds. In your answer you need to state your choice of game and provide an
example of your betting strategy. You should also explain how the game you have chosen is
played and briefly indicate why you preferred this over the other choices, in terms of providing
you with the best odds.

 

 

 

 

Subject Business Pages 12 Style APA

Answer

Gambling
1. Dimensions of Gambling
One major dimension of gambling is the continuity of the gambling activity. This is a term used to describe time interval between the wagers or rather the initial stake, and the results or outcome from the gambling activity. The definition extends to covering the frequency with which an individual who is gambling can resume staking after the first, or initial outcome has been determined.
Continuity as a gambling dimension divides it along various lines. For instance, there are activities which have long continuity interval whereas others have short continuity intervals. For examples, bingos and lotteries are characterized by very small continuity intervals. This is because there are usually long intervals between drawings and purchasing of tickets. However, there are little chances for immediate repeating of actions or staking. An example of a gambling practice with a long and continuous interval is keno. This involves sports betting on horse racings. In this situation, outcomes normally occur between 5 to 15 minutes. However, the exact time is determined by the context in which the game is being played. However, electronic gambling machines present the most continuous form of gambling. There is repeated placing of bets per every 3 to 4 seconds (Schwartz, 2013). This continuity allows players to gamble for up to 15 times per minute. As a result, there are increased chances of reinvesting different amounts from the winnings or rather recover losses.
Therefore, continuity is an important gambling dimension that characterizes almost all gambling games.
2. Do “people gamble because it is fun”? Explain why or why Not.
People do not gamble because it is fun.

This is because there are various reasons which drive a person to gamble. These motives include entertainment, gambling as a social activity, as exhilaration, a behavioral disorder, or gambling for the hope of winning. For instance, a person who is fascinated by the appearances and sounds in the casino will likely see gambling as a source of entertainment. An individual who views gambling as a way of interacting with other people will probably see gambling as a social activity. However, some people get thrilled by the gambling activity itself if they feel that the dice or cards are going as per their expectations (Mayeroff et al., 2014). Despite this reasons, nearly all individuals who take part in gambling have a hope of winning even if it is very marginal. However, there are individuals who are naturally addicted to gambling. This may be due to mental disorder or behavioral disorders. Therefore, the illusion that people gamble for fun is not conclusive. This is because it focuses on the relationship that exists between gambling and entertainment only. It does not consider the connection between the drive for gambling and the desire for winning (Epstein, 2012).

References

Epstein, R.A., 2012. The theory of gambling and statistical logic. Academic Press.
Mayeroff, J. and Morishita, R.R., Battle Born Gaming, Inc., 2014. Method, system, and device for conducting a gambling game to issue an escrow award. U.S. Patent 8,851,973.
Schwartz, D.G., 2013. Roll the bones: The history of gambling.
Stinchfield, R. and Alliance, N.P.G., 2015. Gambling and Problem Gambling among Older Minnesota Adults.

 

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