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Online Casinos attract the 9-5 gamblers, making poker a career |
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Online casinos are seen by some as
a place where luck and chance collide. Rarely is skill mentioned
in gambling at online casinos. But the $12 billion dollar online
casino industry is now seeing a new breed of white collar
gamblers. Those players who frequent online casinos and do the
math, calculate the statistics, and play at online casinos “full
time” in order to gain an edge and win big. Despite the
stereotypes of smoke-filled betting shops and Las Vegas strips,
gambling is not what it once was, as online casinos have now
taken over.
The abolition of betting
tax for punters in the United Kingdom in 2001 and the growth of
online casinos have revolutionized the industry and opened the
door to a new breed of gambler, who is choosing gambling at
online casinos it as a career. Matthew Benham, managing director
of one of the top online casinos, had placed just a handful of
bets in his life before he became a professional gambler last
year. He was a City trader for eight years before setting up his
company, which bets exclusively on football. The 36-year-old
employs 13 full-time staff, mainly made up of mathematicians and
statisticians. He also has 25 part-time employees around the
world who collate data on their country's league. Once the
analysis is done, he and just one other colleague decide what
bets to place at online casinos and sports books. "After leaving
my job I was looking for something new," he says. "I have always
been into football and I noticed betting on games was really
taking off. A lot of what I did in the City feeds into what I do
now. I use the spreadsheets and financial models I did as a
trader to assess odds. "Five years ago professional gambling was
hard work, but times have changed. With the internet it is much
easier, from getting all the data to analyze a bet to placing
it.”
"I know more and more
people who are taking it up full time and it is becoming a
legitimate career choice. Some people are still suspicious of
what I do and expect me to carry round suitcases full of cash."
Benham says it is his unemotional attitude towards gambling at
online casinos that makes him successful - he makes a profit,
although declines to say how much.
There are no figures for
how many people gamble professionally, but the money staked in
all gambling style activities rose to £63.8bn in 2002-03,
according to the government. Online casinos have spurned this
growth. Politics graduate Paul Motty, 32, worked in the betting
industry after school but left in 1997 to go to university
because there were few prospects. But after the explosion of
online casinos he became a full-time gambler. He knows more and
more people who are gambling at online casinos professionally
and they are mainly young. Is there a gambling revolution
underway in Britain? |
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