Playtech Software
Playtech, who provides software for many online poker rooms, bingo games, and casinos, was founded in 1999. The IPO gained Playtech's founder, Teddy Sagi, $295 million. The company, based in the United Kingdom, floated early under the symbol PTEC in 2006 for around £550m. The flotation price was 257p. Their software is certified by BMM International, top consultants to various gambling and gaming regulators in Europe, Asia, and United States. Top websites like Golden Palace and BetFred use Playtech's software, as well as many other lesser known gambling entities. Mor Weizer is the current CPO of Playtech.
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Various bingo sites are also powered by software from Playtech, most of which are members of the Bingoland network which share chat, games, and jackpots, and are generally only differentiated by their websites and graphics. However, some of the larger sites, like BetFred and Golden Palace, have enough business to sustain their own standalone population and have instead chosen to use a "Licensed Network" type model. These sites do not share players or games with the other, smaller sites, but still use software developed by Playtech.
Playtech software also powers iPoker, a group of online poker rooms who share software while offering different looks and feels to provide a unique playing experience at each separate website. Manchester United is developing a poker website through an agreement with BetFred, and their software is also being created by Playtech.
The company's stock fell over 40% in one day when the SAFE Port Act was passed in the United States, basically outlawing the transfer of funds from any US financial institution to a gambling website. The company, like all publicly traded gambling websites, has since closed its doors to all players from the United States. By February 2007, the company had recovered its losses and stood near its 52-week peak and continues to provide software and back-ends for various online gambling entities.
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Compulsive Gambling What is it?
Compulsive gambling at
online casino room is defined by an overwhelming desire to bet or gamble even when the consequences are likely to be really harmful. Often, compulsive gamblers are aware that they have a problem but are unable or unwilling to stop gambling even though they can admit that they should. Compulsive gamblers can cause a lot of financial and relationship problems for themselves and their loved ones. In extreme cases, many compulsive gamblers borrow money from friends and family to feed their addiction, and, once those resources are depleted they may turn to loan sharks or seek other high risk loans. As their debts stack up, compulsive gamblers can become erratic and desperate; they may contemplate committing dangerous crimes to gain more money or hurting themselves to escape debt and shame.
What are the symptoms?
Friends and family of compulsive gamblers are the first to know that they have a problem. Compulsive gamblers can be identified by their preoccupation with gambling, and their tendency to gamble even when circumstances dictate that it endangers their relationships or financial circumstances. Other symptoms include a tolerance for gambling, or the need to bet more and more money, withdrawal symptoms such as restlessness and irritability after long periods of abstinence from gambling, lying to hide gambling habits, risking employment or personal relationships on gambling habits, and consistently trying to win back losses with increased gambling. In effect, any gambling habit that significantly contributes to financial problems or relationship stress can be considered problem gambling and is the sign of a compulsive gambler.
How can someone stop?
When it comes to compulsive gambling, the road to recovery is often a difficult one. Much like alcoholism, the most tried and true way to treat compulsive gambling is to stop gambling altogether. Joining a support group such as Gamblers Anonymous, seeking counseling from a qualified professional, and admitting the problem to friends and family and asking for their understanding and support have all been shown to be successful methods.
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Compulsive Gambling What is it?
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