Good turnover but profit drops at Betbull
Betbull, an AIM listed online gambling joint venture owned by FUNTech and the Austrian public company Bwin Interactive Entertainment AG. has reported mixed results for 2006, with record revenues on the one hand but high costs on the other which drove profits down.
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Do you know that:
- Las Vegas is a testament of the powerful ability of gambling to foster economic development. Because of gambling, Las Vegas has shown impressive job growth, developed into a major city with a low tax burden that many state and local governments look at with envy.
- 1946: Two famous landmarks open: Bugsy Siegel's Flamingo, and the Golden Nugget. Nevada levies its first gaming tax.
1949: Benny Binion sets up a high-stakes poker game at his Horseshoe casino between Nick "The Greek" Dandalos and Johnny Moss. It turns into an epic five-month poker match, laying the foundations for the World Series of Poker. - Although the Greeks had a profound understanding of mathematics they had no concept of probability, and assumed that the outcome of games of chance was due to the will of the gods.
- U.S. News and World Report did a comparison of crime rates in cities with gambling versus those that do not. The crime rates were significantly higher in the places that allowed gambling.
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