The Symbiotic Relationship Between Sports and Gambling

However, it does go a long way toward proving my point. I applaud the most recent comments of Adam Silver, the commissioner of the NBA and the legislative efforts of Chris Christie of New Jersey.

Perhaps the most troubling part is the negative spin often associated with sports betting. They both require the responsible management of risk capital and making the best possible investment decisions after a thorough analysis of the information. This magical interaction now intensifies, bringing a deeper quality to the game. The NFL needs the gamblers just as much as the gamblers need the NFL. Everything suddenly matters more, every call and every play. All of us have felt the adrenaline surge for a must-have fourth down conversion or seen the handy camera work pan to a fan, whose eyes are closed, and is in solemn prayer. The days of offering game odds driven by rumor and “on the ground” contacts are over. I would also venture to say that more than fifty percent of those UK fans have laid a bet with one of the publicly traded companies licensed to accept wagers. She told him they had won, and he erupted with absolute glee. If morality is truly the reason, can you imagine a scenario where the NFL questions fans before allowing entrance to the stadium, and then denies entrance to the gambler and issues a refund? No chance of that. They are riding a roller coaster during a speculative course of events, and it’s those crucial actions on the field that manifest themselves on both the physical (a racing heart) and spiritual (praying to the Football Gods) plane. I continue to draw comparisons to any financial market that entertains a speculative investment. I’m going to use the NFL as my example because of its universal appeal and because football betting drives the largest number of bets here in America. With such a big secret one would think the message would be broadcasted across the wire, but instead sports betting continues to channel in a gigantic whisper.

Consider that the base, and now let’s spike that unquantifiable interest with a financial stake in the game. Do I think Ben loves sports? Without question. At seven years old, and to his frustration, his bedtime curfew cannot embrace the whole game. She asked him, “Ben, why are you so happy about that?” and he replied with a smile, “My friend owes me a dollar today.” Obviously, I do not condone elementary betting, but I’ll chalk this up to kids having fun. It’s directly related to the profitability of every professional league, but to acknowledge its importance and interdependence would grate against history. The NFL has never been more successful than it is today. The days of back-room alleys and street bookies are largely over, as even they have moved to the Internet, though they are still breaking federal law. Right now, the offshore bookmakers and the underground world are hoping things continue unchanged while they happily siphon millions of dollars each year catering to the voracious betting appetites of the American public.

I must assume the NFL throws the public red flag on grounds of morality, though it’s completely disingenuous. Sports betting is the most taboo yet pervasive activity among sports fans and grows in popularity exponentially. It would be foolish to think otherwise. In today’s fantasy crazed-society, the stats and information available are at worst equal to, but in my opinion better than, information one could obtain before purchasing stock of a company. The games are now broadcasted up to three times a week, and the viewership of these games allows the league to command enormous sums of money for the privilege of advertising to its fan base. Sports betting is the secret love that everyone in the room is sharing, and it has never been bigger in the United States than it is today. Fans are “active viewers” and are engaged on a second-to-second level.

Blayne Davis, Author of Wild Game, an international legal thriller about a sports betting hedge fund.

This Blogger’s Books and Other Items from…

For millions of Americans, the mere mention of football season triggers sweaty palms and stomach churning. She told me the first thing Ben wanted to know when he woke up was if the Cowboys beat the Bears. Those responsible for setting the Vegas line are surrounded by banks of computers running calculations and formulas as complex as those used by hedge funds on Wall Street.

Fortuitously, when I started to the write this article, my wife relayed to me a funny story about our son. Simply put, the advertising pays the multi-million dollar player contracts and justifies the billion-dollar stadium. They openly recognize the existence and the economics behind creating a regulatory framework. Delving into the hot demand for the NFL product, we must move into some basic psychology behind watching a game versus watching a sitcom. All of these factors create the level of drama and excitement that we all secretly desire in our lives. Yelling at the big screen at a dropped pass (that we could’ve caught, right?) or a questionable penalty, (the conspiratorial referee, right?). Do I think he will ever place action again in his lifetime? I’m betting that he will.

. There has always been, and there will continue to be, an intrinsic relationship between sports and betting. Eyeballs drive this marketing monster — the larger the viewership, the more money media outlets can demand from their advertising partners.

The undeniable truth remains that regardless of the public message put out by the league, if miraculously all betting stopped there would be a dramatic decline in revenue and the financial repercussions would rock the league. It’s awesome.

Let me explain the correlation of sports and gambling from a superficial economic standpoint. We want this action; we need it.

But let’s go back to those initial viewership numbers and exactly why they are so great in the first place. As the NFL continues its Read more

Richard Gere Interview on 9/11, New Movie ‘Arbitrage’ Video

The trainers. I left early in the morning. One of them is your wife. How do you think I pay for them? She wanted to cut that scene because I listed 50 things. And we remember the victims of those attacks, 11 years ago today. That moment seems so fresh. You knew nothing? I knew nothing until I got there because I had the radio off. The festivals that I’ve been to. Let’s show a little of that. He’s wealthy, yeah. You know, at the peak of your power right now. Just like today. They started to tell me what was going on. The movie is not easy. Especially the european ones. Talking to my producer, kate, about this early this morning. I was making too good of a case. But you’re also rooting for him. If you really look at the film, there’s nobody in this film that doesn’t make some bad decisions. They’re more normal people, certainly living at a different stratosphere. “Arbitrage” comes out friday. Like san sebastian, the whole town, the whole region comes out. Take sure your family is okay. Were you in washington then? I was here. It recalls the bernie madoff scandal. Yeah. I do want to move on to your movie. You play a wall street titan, a benevolent billionaire on the outside. Our actions, our thoughts, our morality, resonates through every part of our lives. You have to be of a certain age and they start giving you this stuff. Richard, thank you very much.

Transcript for Richard Gere on 9/11, New Movie ‘Arbitrage’

This transcript has been automatically generated and may not be 100% accurate.. He’s not quite a billionaire. I don’t know if he’s a billionaire, by the way. ? The land of the free and the home of the brave ? a bell tolls. Thank you for sharing that. The unhappiness. And we’re back, now, in the studio, with our next guest, richard gere. I was here in new york. But these are the dinosaur awards. You know, she’s gotten very comfortable with the lifestyle. How does it feel to get the lifetime achievement awards? It’s a little premature. I’ve had close friends come up to me who were really angry with me because they were rooting for the guy. I was on my way to a retreat up in massachusetts. We had to pull some out. One of the things you get into, are the masters of the universe, also try to create their own moral universe. Yes, the charities. The movie’s going to be a big hit. This is something ripped out of the headlines. If you look at her actions and where she’s coming from. It’s very generous and very loving. And I come into this retreat that’s on a lake. This guy makes very bad decisions. It is getting such great reviews all across the country. I forgot this was the 11th until this morning. But it’s very nice. And in business we can be this, at home we can be this. One thing about this movie, but people think — you and I and probably the 400 people who are here, we think we can compartmentalize our morality. And everyone was okay. It’s just filled with love and affection. I left like 7:00 in the morning. By the time, the movie was released, it had gone past bernie madoff, who was obviously a very sick man. I couldn’t call back home. That’s what everybody was doing that day. And our other relationships. From the cops. But make the same kind of moral bad decisions. I don’t know what’s going on. The wonderful, charities. It doesn’t work that way. Test Text1 plain On this 11th anniversary of the 9/11 attacks, we pause, now, to remember that moment, when the first plane hit the world trade center. It’s hard not to get caught up in that, richard. Absolutely. It was such a beautiful day. The shopping. You remember, it was the most beautiful day. She says one of the things you pull off here in the character, is everyone is watching this thing, knowing at some level, your character’s a very bad guy. Although, as you say, no. And everyone is stunned. The phone wasn’t working. I didn’t even want the radio on. Susan sarandon. So, three hours later, I’m up there. Also getting honored, I saw at the zurich film festival. But on the inside, your world seems to be crashing in on you. The cell wasn’t working. How do you think I’ve tolerated all this? Tolerated? What about me? What about the complaining. I was driving up to massachusetts. They’re all connected. I think europeans are — the whole town comes out. I finally got through to the family. The drinking. Mid life. You know, when we made the movie, bernie madoff was kind of the archetype of everybody’s idea of corruption, and money, funds, greed, and all that. Everything. And now, we’re seeing all these bankers and fund managers, who are more like us. And it was such a beautiful day Read more

12 Effective Tips to Get Rid of Gambling Addiction

He lies to his family and friends, borrows money, and loses control over his mind and behavior. When a gambler with severe ludo mania meets certain criteria, the condition is diagnosed as ‘clinical pathological gambling’. Analysis of casino customer data may help identify problem gamblers, but casino owners do not share this data for fear of losing their most lucrative customers (may be 25 – 50%). Researchers have noticed increased rates of mental health disorders in gamblers with severe ludo mania. Gambling addiction is referred to as ‘compulsive gambling’ or ‘impulse-control disorder’, where the behavior of the gambler is similar to that of a person who has substance addiction.

When an individual realizes that gambling is destroying his family and social life, he thinks of quitting, but in just a few hours or within a couple of days, he is again found in a gaming zone or casino. Despite being aware of the serious negative consequences, or despite having a strong desire to quit, he cannot stop himself from gambling. To experience the same excitement, he needs larger wagers or more frequent gambling.

There are chances that he has other psychiatric problems at the same time; for example, substance use disorder, mood and anxiety disorder, personality disorder, etc. Addiction to gambling at a young age increases the risk of suicide. But studies show that suicide attempts are usually made by older people with problem gambling. Here are some useful tips regarding lifestyle changes to get rid of a gambling addiction.

. He may lose his job and may commit crimes to get money for gambling. Study results show that a gambler who has not been treated for compulsive gambling during his desperation phase is likely to commit suicide. As he spends more gambling, he requires more money to recover his losses. ‘Problem gambling’, also known as ‘ludo mania’, can destroy the life of the gambler and also of his/her family members Read more – ‘Rings’ odds-on Oscar favorite

It’s such a lock, in fact, that a bettor will win a scant $1 for each $20 wagered if the film is nominated.

Rounding out the field of favorites for a best picture nomination are, in order, “Mystic River,” “Cold Mountain,” “Big Fish” and “House of Sand and Fog.”

But with the advent of legal online betting, offshore companies not only take bets on who will win but on who will be nominated.

Story Tools

The Academy of Motion Picture Arts and Sciences (AMPAS) will announce the nominations for the 76th Academy Awards on January 27, 2004.

“Invariably, we’re the first to get odds up, and invariably, we offer the biggest selection of bets,” said Stuart Doyle, chief betting officer at, an Antigua-based firm that takes primarily sports bets.

. The final chapter in the trilogy is due December 17.

Copyright 2003 Reuters. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


LOS ANGELES, California (Hollywood Reporter) — Las Vegas has been disseminating odds on who will win Oscars for years, though actual betting on the outcome of the annual Academy Awards contest isn’t allowed there.


You can even bet on whether the movie gets more or fewer than 9.5 Oscar nominations.

This year’s overwhelming favorite for a best picture nomination is “The Lord of the Rings: The Return of the King,” according to odds posted at

Doyle said the site boasts only about 50 users who regularly bet on movie box office performances each week, making that aspect of its business more an attention getter than a profit center. Create your own alert to be notified on topics you’re interested in.

Or, visit Popular Alerts for suggestions.

In fact, also is offering a whole slew of wagers surrounding Wednesday’s opening of “The Return of the King.” The over-under for the film’s three-day opening, for example, is $65 million, and it’s heavily favored to beat the five-day opening tally of slightly more than $102 million for its predecessor, “The Two Towers.”

Odds-posting and gaming Web site says Tolkien’s tops

Elijah Wood has played Frodo Baggins in all three “Lord of the Rings” films. But the Academy Awards garner about 1,500 bettors each year.

Follow the news that matters to you Read more

Sports Betting Arbitrage – Win Every Time You Bet

It was a mathematical certainty. What you will need is a

PC and internet connection and of course my powerful package

which shows you step by step how to start earning immediately

with sports betting arbitrage – and gives you a powerful website

which spoon feeds you the best daily arbitrages – in real time.

You can also do this from anywhere in the world, right from the

comfort of your own home.

Before moving on are you worried that just because “arbitrage” is

used by financial institutions that it will be somehow complex,

difficult or require mathematical or specialist knowledge of

some kind? Well let me tell you that this technique is so

outrageously simple that even a 7 year old could understand it

and use the one-step technique you’re about to learn to make

piles of cash – from day one. I

mean “free money” is pretty much what we’re talking about right?

It’s all a scam isn’t it because we all know there is no such

thing? Well actually no – stick around for a few minutes and I’ll

prove to you without a shadow of doubt that not only is this

“secret” (actually it’s an investment technique) very genuine,

but a lot of individuals are using it to make tens, hundreds and

even thousands of dollars/pounds/yen etc…every single day.

Did you know that there are now several thousands of online

bookmakers all over the world? Everyday, in every country more

and more continue to spring up (because lets face it betting is a

huge industry with bookmakers keen to take the money of millions

of hungry gamblers). That’s very good news for us and I’ll explain

more on this shortly.

Sports Betting Arbitrage – Win Every Time You Bet

 by: Ray Fearnley

Are you ready now to learn and apply this incredibly simple

technique to start earning money every day? Remember that you

need no specialist knowledge on anything. As the number of online

bookies has seriously increased over the last couple of years so

the number of highly profitable arbitrage opportunities have

exploded. I

went with the above example because it is the lowest paying kind

of arbitrage opportunity – I wanted to be conservative – but

there are numerous arbitrage opportunities paying out 3%, 15%,

20% and more every single day.

Get more information at

Rayzee has had an Internet presence since 1996 and specialises in

thinking “outside of the box”. It’s

not even investing strictly speaking because with all of these

things it’s possible that you can make a loss – but with sports

arbitrage there is no possible chance of you ever losing – you

know the exact profit you are going to make before the sporting

event even kicks off. Use this incredible but simple investment technique to earn

money for you everyday for as long as the internet is around,

regardless of the economic climate or where you happen to live.

You can use this method in the USA, UK, Australia, Asia,

Europe…anywhere with an internet connection and PC. Arbitrage is zero risk and

guaranteed profits – it is a high paying, very short term (a

couple of hours) investment that will ALWAYS result in you

walking away with a certain profit. I have just

shared with you an incredibly powerful formula to tap into a

huge stream of wealth whenever you like – every single day.

Does it surprise you that some people actually do this full time?

It’s their work-from-home “J-O-B”! Wouldn’t it be nice to earn a

living just by logging onto a couple of bookmakers, placing a

few “sure bets” and walking away a few hours later with a

guaranteed profit? You see, with sports arbitrage you’re taking

advantage of the price differences that exist by betting on

opposite sides of the same sporting event – so no matter who

wins/loses/draws, you are guaranteed to come away with a risk

free and guaranteed profit – every single time.

Hopefully you are now starting to understand the potential of

arbitrage trading. It is not trading. It is the power of

the internet that has brought this to your attention. Victor Chandler saw Davenport to win at

odds of 2/5 while Tote saw Clijsters at 3/1.

Thanks for taking a few minutes to read this letter – you must be

quite curious right about now, but I bet very suspicious too. That’s quite a claim but from the

actual proof that you’re going to read below you’ll see why this

is no exaggeration – there are literally hundreds of

opportunities every single day for you to apply this technique

and make as much free cash as you want. Isn’t it better to use this amazing technique now

rather than later?

2. He believes the Internet gives

ordinary people the opportunity to make extra-ordinary income

working from home. It can

never be closed down (you’ll see exactly why in a minute) and as

the internet grows (believe me, we’ve only seen the very tip of

the internet iceberg to now) the opportunities to earn sure,

risk-free money from this simple strategy will multiply by

hundreds of times. At 3/1 the total amount to invest in Clijsters to return

$100 was $25.

About The Author

We’re now getting to the real interesting part.

But it gets even better you see, because this simple but money

generating technique can never be monitored or regulated. First, you need absolutely no

knowledge either of investment arbitrage or sporting events to

make a certain, 100% guaranteed profit every day with this simple

technique. Most of these bets take

under 5 minutes to place online, and after the sporting event has

finished you simply collect your profits and move on to the next

arbitrage opportunity.

The fact is this information is priceless and is unheard of by

most investors, let alone the general public. Can Read more

10 Steps You Can Take To Stop Gambling Today

Put up pictures of them & when you see it, remember that’s who you’re stopping for.

Recognize that if you gamble, you’re letting them down.

Remind yourself of all the bad things that have been caused by your obsession to gamble.


If you want to stop gambling right now, the first step begins by stopping to carry money. Carrying recovery reading & phone numbers help. You make lifelong friends who will always understand and care.

This step can be done by attending Gamblers Anonymous, Celebrate Recovery, & finding online support and help. He’s overcome his own addiction to gambling & has helped many others do the same. There are 1000′s of people who once were severely addicted to gambling, haven’t gambled for months and even years. A gambling problem is very strong, plays many tricks on on our minds, & tries to convince us of many lies. He is an author, life coach, sponsor, & former GA chapter president, husband, & stepfather.


What does this mean exactly? It means you must submit,commit, & trust in the program of recovery you choose. (Email the author at for online communities you can join today). Good help seems to come from ex-gamblers themselves because they’ve been there, & they understand. In the moment, you’ll want a plan of action to take when the urge to gamble attempts to overwhelm you.


Get or print off pro gambling recovery literature & carry it with you at all times.

Read it daily, especially in first months. Gamblers Anonymous is one. This includes credit cards, debit cards, access to bank accounts, checks, loans, etc. Know what to do & who to call if a thought or urges to gamble hits you….(and unfortunately they will).

These 10 steps are an excellent start to stopping gambling today.

If you have any unanswered questions or need to be pointed in the right direction email


To overcome something as powerful as a gambling problem or addiction, we must get help from others.

Help is out there in many forms. Carry only a very small budget for food each day and thats it.( absolutely no more than $5). Don’t know where to turn to for help? Email


Stopping Gambling isn’t easy. You help yourself and others triumph over a common enemy. It may sound funny, but joining a group of fellow recovering gamblers gives you strength & power over your gambling. If you want to stop starting right now, block all access to money.


Only those who never give up on themselves & their program of recovery beat gambling. In the beginning the constant thoughts and urges to gamble can be intense. Know that there are 1000′s of recovering gamblers. Know that if they can do it, you can too. There are therapists, counselors, & life coaches out there trained to help you stop. Have phone numbers listed for people to call who support you in your recovery. Call them ANYTIME you need to. Inpatient Treatment is another. If you gamble online, get gamblock today.


Recovering in numbers is key. If needed, list them out. The only time casinos won’t let you gamble, is when you don’t have what they want……money.


Make a list of the people you love & love you back. You trust that the program will solve your gambling problem, as long as you never give up on it.

Author’s Bio: 

. Connect your gambling with the the negative consequences its brought into your life.

When you absolutely must stop gambling right now, here are 10 steps you can take today.

To learn the secrets to stopping gambling now, & to get 1 on 1 coaching from Jason visit or email Jason at


When your next urge comes, what will you do? You’ll need to know the answer to this. (because it is the truth).

There is but one good throw upon the dice, which is, to throw them away. Its best to find someone who’s been in your shoes, but hasn’t gambled in quite some time.

Make sure you like them, they have your best interest in mind, & truly do help you. Combat this with the previous 9 steps & a one on one coach, sponsor, or therapist. -Author Unknown.

Jason is a recovered compulsive gambler of over 5 years and a certified professional life coach.


If you go to a local casino, take a caring friend and ban yourself for life.

If you play online, contact the online casino and have your account closed permanently, & demand to be banned from their site Read more

10 Tips for Betting on Football

“Thus, the bookies love and cherish the squares.”

Certainly not back into the pockets of the average bettor.

Moseman agrees and especially likes home underdogs.

“There is probably no better bet in sports than playing an underdog at home,” Moseman says. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”

2. There are almost an infinite number of scenarios that can happen in a single football game. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”.

So, how much should you bet a game?

So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points.

But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.

5. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”

“The talking heads on TV know nothing about sports betting,” says Sevransky. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. Giving 11 to 10 odds is almost always the cheapest price you can give.”

However, Konik adds that there are some bettors who actually know how to beat the bookies. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world. So underdogs tend to be slightly undervalued – except by the sharps.”

“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says.

Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. The only locks that exist are those that need keys to open them.”

Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined.


Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”

6. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with for nearly 40 years. Thanks to the juice, the only one who profits in this scenario is the bookmaker. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”

9. If North Texas is his best bet on a Saturday then that is his bet. “The key to proper money management is to be sure not to bet more than you can afford to lose.”

And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”


“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”

Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.

10. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005).

“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says. Oakland comes to mind) seem like the Super Bowl. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. “Squares usually bet later in the week and they tend to pick the favorites.

Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns. “There will be more discrepancy in the numbers at different sports books. But, when you’re struggling, that’s when you want to reduce Read more

Platinum Partners to shut main hedge fund following arrest of associate | Reuters

It has averaged annual returns of more than 13 percent, according to the private fund data seen by Reuters.

The soon-to-shut Value Arbitrage fund gained nearly 8 percent in 2016 through April, according to a private HSBC Alternative Investment Group report seen by Reuters. hedge fund Platinum Partners is returning the majority of its assets to clients following the arrest of a longtime associate on allegations he orchestrated a $60,000 cash bribe to secure an investment from a New York city union.

The development comes after the arrest last week of Murray Huberfeld, who was accused of bribing Norman Seabrook, the president of the New York City prison officers’ union.

Huberfeld is a longtime associate of Platinum head Mark Nordlicht. That strategy recently controlled more than $500 million, the balance of Platinum’s about $1.35 billion in overall assets as of April.

New York-based Platinum told investors on a conference call on Tuesday that recent negative media attention and requests for the return of capital had forced it to begin the liquidation of its more than $700 million Platinum Partners Value Arbitrage Fund, according to a person familiar with the situation who requested anonymity because the information is private.

NEW YORK U.S. The fund produced average annual returns of more than 17 percent since inception in 2003 with no negative years.

. News of the liquidation was first reported by the Wall Street Journal.

Nordlicht told investors on the call Tuesday that a decision on whether to shut the credit fund would come in a matter of weeks, the source said.

The firm is also considering shutting its Platinum Partners Credit Opportunities Fund, the person said.

Nordlicht said on the conference call that the charges against Huberfeld were unfounded, the person said.

Founded in 2003, Platinum has racked up profits that are the envy of the hedge fund industry. He was an early backer of Platinum and remains an investor in the firm.

For Reuters’ Special Report on Platinum, click here

According to a U.S. An external spokesman for Platinum did not respond to requests for comment. Department of Justice complaint against Huberfeld and Seabrook, an intermediary gave Seabrook a Salvatore Ferragamo bag filled with $60,000 in cash as the first of what was intended to be several kickbacks for ultimately steering $20 million of union money into Platinum’s coffers.

The still-open credit fund has also never lost over a calendar year since inception in 2005. The Centurion Credit Management hedge funds he ran were also taken over by Nordlicht and Platinum in 2011. But its winning strategy of lending to troubled companies carries risks that many institutional investors would just as soon not take, according to a Reuters investigation earlier this year.

Huberfeld, through an attorney, declined to comment on the charges against him and the Platinum news Read more

Advice for The Victims of Gamblers

You need the attention of the individual not the shadow or a glance.

Don’t blame yourself for what the gamble fails to see or acknowledge.

You can’t change the way the gambler thinks, only you change the way you think and do.

The situation had deteriorated, and the problem went on with the same mistakes.

Don’t protect the gambler that would not work out well for you.

Only he can acknowledge that part about him.

She had a problem with her husband’s habits. To wait for that ticket that does not show up as the winning ticket is another problem.

I don’t know how much more one can become fed up of that addictive habit of gambling.

These mistakes are once again repeated in the second marriage.

A family is supposed to be safe, through their financial lives and through their emotional lives.

This time the gambling is slowly ruining her so I decided to help as a good friend.

A gambler must show responsibility for their gambling behavior.

You need to take care of you and don’t think of what the gambler is up to.

Conversations have failed when his money belongs to him, and only him he can do whatever he wants to.

It looks like everything is falling apart and he can’t or fails to see how his habits are affecting his loved ones.

Sometimes the individual looks drained from her energy and tired with worry.

You can’t make a conversation if a gambler looks elsewhere. It is time for a gambler to control their debt and their lives.

I know the gambling problem is not the woman’s fault she did not know from the time of meeting this man that everything in her life would go down so badly.

She had tried and tried to get him to stop or lower the cost of gambling.

Do not let the gambler know how much money you have in your bank account that would draw the individual to your money.

Gambling can put a heavy load on any relationship.

The best advice as follows:

We had discussed the gambling issue and came to a few decisions.

When a gambler is penniless you can be in the same shoes if you help out the gambler financially.

Be open in conversation when with the gambler. Giving money to gambler is like crucifying you.

How can a family feel safe if the gambling has taken over their lives?

Lies comes in quickly you don’t need to help them with their issues. In this case the gambling is causing a lot of insecure moments.

No one can force him to stop the daily gambling.

A tough situation and is becoming a daily problem.

They become isolated and love it that way.

Communication completely fails when a gambler is just focused on bets.

Protect yourself from the gambler’s life and debt.

The wrong idea would be is to try and be in charge of a gambler’s life.

The gambler can look at you funny for letting them know of their gambling problem.

I just can’t erase some thoughts from my mind after recently talking to a friend.

Enjoyable times are lost and one can become very lonely.

The exact same occurs like he is dwelling in the past, and holding onto something that no longer exists.

Social lives are horribly affected.

He tried even harder to get her into the gambling game.. They got to know how you feel directly.

Don’t take the strain of gambling on your shoulders it is not your problem or your fault.

Eat correctly and be happy and live your life.

The gambling as far as I am concerned is not going to bring light to their married life.

You can try to seek professional help and on most times that too can fail.

You can try to support a gambler only to certain limit.

Gamblers don’t admit their addiction and that can be the worst of all on your list of advice.

If you think you can have control over a gambler’s life then be ready for the unhappy you.

It can be exhausting to cope with such an individual.

A gambler does not spend money on any pleasure moments mainly on gambling and wait on targets with money.

Don’t be unhappy be positive and free from that thought.

A sad life for two people when he goes on like this not thinking of what is supposed to be important.

Everything stops in a person’s life when with a gambler and the individual does not see that as a problem.

It would drive them apart more and more and day by day.

It is most difficult to trust a gambler.

They are afraid he will sell their belongings, or will secretly take loans and would want others to bail him out.

Avoid speaking of figures.

Be in control of your life and finances.

Sometimes talking or discussing the gambling problem won’t make sense to the gambler.

The long wait is an ongoing process. He was a compulsive gambler.

Always tell a gambler you don’t have any money Read more

Offshore Gambling Operators to fall under Secondary UK Online Gambling Tax

If the stricter laws are sanctioned, such disparity will soon be a thing of the past.

The commission that has been formed by the UK officials has been established with the purpose of analysing the relevance, bearing and outcome, should a secondary taxation be implemented on the offshore operators. The results have been worth a glance.

The relatively easier law that governs offshore gambling ventures was adopted by the UK online gambling legislation in the year 2005. I hope the Government sees sense on this.” For the very purpose of evading high taxes in the UK, William Hill had moved its operations headquarter from the country to Gibraltar. Views of many of experts from the industry as well as several gambling ventures representatives will be considered by the committee before a conclusion is arrived at. There is a major discrepancy in the profits earned by the offshore and local ventures, thanks to the extremely lenient taxation rules that are levied on the offshore operators. More people will go overseas or to fly-by-night, unregulated sites where the consumer is not protected.

The survey revealed that should the taxation be levied on such operators, gamblers and betters in UK would not shy away from playing at unlicensed sites, just to avoid the complications. Owing to such rules, offshore ventures have managed to cash in much more than their UK-based operators have been able to do. With a growing number of people voicing their opinions against this glaring differentiation, the government of UK has been forced to rethink its policies. This survey conducted by William Hill also brought to light the fact that if the tax is 10%, ventures would lose 27% of their revenue while if the tax is 15%, ventures would lose as much as 40% of their revenue. With this new law being passed, William Hill would be back to the mess it was in three years back. Going by the report, tough times are predicted for offshore online gambling operators as the government plans to impose taxation laws that promise to be more stringent than they have been in the past. However, there are other ventures like Rank PLC that believe giving offshore ventures the advantage of not having to pay tax is against the EU legislation.

In the recent turn of events, UK officials have decided to investigate the online gambling taxation scenario in the country and have declared that a commissioning body has already been formed for the same. As a result of this, the government has decided to apply a secondary tax on all such offshore gambling ventures.

. Currently, the offshore operators who provide online gambling facilities in Britain have an upper hand on the British operators which has, understandably, disgruntled the local land and online operators. However, since the time of its inception, this has come under scrutiny and has been widely criticised not just by local land-based casinos and betting establishments related to sports but also by several prominent politicians and public figures of the country. Speaking about the issue, Ralph Topping, CEO, William Hill, said, “Money will always find a way out. With so much talk surrounding the UK government’s impending secondary taxation and licensing implementation, legendary William Hill decided to go ahead with its independent survey Read more