Memory: A Few Surprises

Ah, memory, our precious capacity. We recall past events, relive them, summon anew the emotions linked with them - and, of course, conveniently edit them for future needs.
Memory makes us human. No other creature can, with the flick of a neuron, revive the past, reignite old passions, reconvene special moments and treat these ephemeral visions as though they were real and palpable - not fleeting phantasms or illusions. Without a past, there could be no present.
For the poker-playing members of our species, our memories are precious weapons. We recall the patterns of actions of particular opponents. We remember the bozo in the Hawaiian shirt who dangerously overplayed his hands, the grizzled old codger who turned out to be a bit trickier marked cards than we first thought and, of course, we can rerun the vision of that sweet young thing in the cut-offs who ... ??? ... now what did she have that hand when she kept leaning over toward me ...?
And, of course, we need these "remembrances of things past." Our bankrolls depend on our memorial abilities. If we don't use them, we'll lay down the best hand against the bozo, get trapped by the old codger and dump (perhaps willingly) our entire stack into the lap of Sweetums.

Where am I? Where's my brain medicine?

But, take care. Memory isn't what you may think it is. Memory is not a recording tape; it isn't a video system. We don't just pick up information from the world about us and record it for playback.
Memory is very complicated and, so, here comes another of "the professor's" short lectures - poker lessons included.
First, we don't remember things we didn't pay attention to. In a fascinating study, while people were analyzing the video replay of a basketball game, a woman twirling an umbrella walked across the screen.
More than half the viewers never noticed her. Of those who did, many couldn't recall an umbrella. But if they were warned that something unusual might happen, they saw her and the umbrella.
Poker Moral: Watch what is happening around you at the table. Try not to get too absorbed in one part of the game because you will miss other information that may turn out to be important later.
This is particularly true when playing online, where it is easy to get distracted and not notice who actually put in the first raise. It is an especially important factor when playing multiple tables.
Second, we don't remember things with anything approaching accuracy. In fact, human memory is quite dreadful. We think that we know what we saw; we believe in our recollections, but the data show otherwise.

He was a short man with green hair, wearing pants on his arms if I remember correctly.

Studies of eyewitnesses to crimes are revealing, and upsetting. People's memories for the actions observed, the clothing, age, race and even sex of the offender are often wrong. What witnesses report are not things that actually happened but things that were important to them at the time. For example, if an intruder was armed, they will recall that marked card tricks, but not the color of his jacket.
Poker Moral: Don't trust your recall of particular hands. In fact, if you don't believe me, try this. Write down all the details of a recent hand you played. No "baby" hands please ("I raised with AA; he called with KK"). Pick a hand that had some play to it, with a raise or two and more than one caller. Try to lay it all out with enough detail so that someone else would know what happened.
See what I mean? Not easy, was it? Perhaps now you understand why you online mavens keep clicking on the "last hand" button. I know I do, if only to assure myself that I really processed what was happening.
Third, emotions will affect your recall. Sometimes they are helpful; others not so. An event that is poignant and significant tends to be recalled accurately.
I once lost a huge three-way pot (well, huge for the level I play, a tad over $5,000) when my red aces (against KK and the black aces) got leveled by runner-runner clubs. I recall the setting, the table, the other players; I still see the cards with a crystalline vision (although, admittedly, the size of the pot may have grown with the telling ... I can't recall ...).

I was surrounded by crocodiles ... I can't remember a thing!

On the other hand, emotions can also lead you astray. In those studies of eyewitnesses, the more frightening the setting, the less accurate the memory.
Actually, some of this effect is due not to a disrupted memory, but to an inaccurate or inappropriate interpretation of what happened. If you were frightened, angry or upset you're likely to mischaracterize what transpired so it fits with your emotional state. Intruders become bigger and fiercer; attack dogs grow more teeth.
Poker Moral: Don't misinterpret your opponents because you're upset. There is an understandable tendency to think that someone who sucked out on you is a terrible player. He may be. He may not be. But don't let the memory of that hand control how you interpret his actions in the future.
Fourth, memories are fleeting and what remains in our mind's eye is often a distant depiction of the truth. We recall the convenient; we twist events of the past to suit the present and misrepresent history to smooth the future.
Poker Moral: Don't trust your memory of how much you won/lost in any session more than few hours old. Don't believe the tales you tell yourself about how you played a hand, toyed with a table of tough Vegas regulars or dealt with a losing streak of epic proportions. Don't always believe your personal myths of mucked monsters, called bluffs, escaped traps.
Some of the tales you tell yourself may be right but, probably not. An awful lot of people can't recall whether they saw the movie or read the book ... or just heard the plot described by someone else.

Zen and the art of record-keeping.

Final Poker Moral: Be as honest as you can be with yourself. Keep records. Work on that Zen-like calm that will enable you to step beyond the many failures of our memory systems.
Author Bio:
Arthur Reber has been a poker player and serious handicapper of thoroughbred horses for four decades. He is the author of The New Gambler's Bible and coauthor of Gambling for Dummies. Formerly a regular columnist for Poker Pro Magazine and Fun 'N' Games magazine, he has also contributed to Card Player (with Lou Krieger), Poker Digest, Casino Player, Strictly Slots and Titan Poker. He outlined a new framework for evaluating the ethical and moral issues that emerge in gambling for an invited address to the International Conference of Gaming and Risk Taking.
Until recently he was the Broeklundian Professor of Psychology at The Graduate Center, City University of New York. Among his various visiting professorships was a Fulbright fellowship at the University of Innsbruck, Austria. Now semi-retired, Reber is a visiting scholar at the University of British Columbia in Vancouver, Canada.

How to Crush Live $1/$2 No-Limit Hold'em

$1/$2 No-Limit Texas Hold'em is by far the most popular poker game being played in casino poker rooms.
Without a doubt, your average table features a motley crew of fish waiting to give their money away.
With a little help from this article, you'll get your fair share of it.
The Game
The game is $1/$2 No-Limit Texas Hold'em, the Chevrolet Cavalier of poker. The minimum buy-in is $40 and the max $200.
$1/$2 is the smallest No-Limit game run in most casinos and for that reason the games are very, very soft.
Your Average Opponent
$1/$2 games are inhabited by everyone from 60-year-old nits, to first timers, to gamboolers who raise every hand, to young, sunglasses-wearing wannabe pros.
Some of these players are actually good, but most are not. They're first-level thinkers, thinking only of their two cards and nothing else.
They are going to be clueless to the fact that you've folded the last 30 hands and are now betting hard into them.
What they're going to be doing is thinking, "I has a pair of jacks; how much?" and then pushing the required chips into the pot.

Target acquired.

 

These players are your targets, and the source of the bulk of your winnings.
Loose-passive players have two major weaknesses - they call too often before the flop and they take their hands too far after the flop.
You'll often hear new players lament about how it's impossible to beat fish because all they do is call.
This sort of thinking is so fundamentally wrong it's laughable.
Players who call too much are the ATMs of the poker world, readily dispensing money to whoever has the patience to wait for a good hand.
Your Ideal $1/$2 No-Limit Hold'em Strategy
You play tight, you make top pair or better and you bet! Not exactly groundbreaking stuff. Play ABC poker, make your good hands and bet them.
Loose-passive calling stations will do what they do best: call. So let them call, stop bluffing them, and value bet your good hands relentlessly.
When you play tight before the flop, you make your post-flop decisions easier. By playing solid hands before the flop you will make solid hands after the flop.
When you eliminate marginal hands from your repertoire you'll find yourself with fewer difficult decisions after the flop.
Your goal is to flop top pair with a good kicker or better. You have to avoid getting caught up in the table flow.
Just because half the table is limping in up front with K♥ 3♠ doesn't mean you have to.
Stick to playing tight and focus on playing hands that can flop big.

Playable Hands at $1/$2

Big Pocket Pairs (AA - TT)
These hands are already made for you. A single pair is often good enough to win at showdown, so when you start with one infrared contactlenses, you're ahead of the game.
Big pocket pairs are such big favorites that you should always raise them for value when nobody has raised in front of you. With aces, kings, queens and even jacks you should often even reraise.

Stick to playable hands.

 

The profit in these hands comes from when you flop an overpair to the board or a set. When you do, bet.
Your loose-passive opponents will be more than happy to call three streets with worse hands.
Good Top-Pair Hands (A-K - A-J, K-Q)
Top-pair hands are hands that make top pair and when they do so, do it with a good kicker.
In a game where most of your opponents are loose-passive, your kicker is going to make you a lot of money.
For example, if you have K♣ Q♣ and the board comes king-high, you can bet three streets for value against a loose-passive player.
He will be more than happy to call all the way down with K♦ 9♠ only to find his kicker is no good.
Good top-pair hands are good enough for a raise when the pot has not been raised before you.
Top-pair hands do better against one opponent than many, so keep that in mind when choosing your bet sizes.
Speculative Hands
These are hands that are rarely going to win at showdown unimproved, but when they hit they make big-pot hands.
A big-pot hand is a hand like a set, a full house, a straight or a flush. Holding these hands, no matter what the action, you're ready to put your stack on the line.
They are speculative hands because they have to hit before they'll be worth anything. They rely on the implied odds that you win your opponent's stack when you do hit.
Ideally you would like to see the flop as cheaply as possible with these hands. Speculative hands do best when played in position, so be wary about playing them from up front.
Pocket Pairs (99-22)
Pocket pairs make huge hands when they flop sets. Sets are often hidden, and you can easily stack someone who has top pair or an overpair.
For that reason it's OK to limp pocket pairs from any position.
When facing a raise, you have to think about your opponent. If he is a tight player and is unlikely to pay you off when you do hit, you're best off folding.
If, however, he is a loose player (or you're multiway with more than one loose player), you can call a reasonably sized raise to play for "set value."
The main thing about pocket pairs is that when you hit a set you should almost always be looking for the best way to get all your money into the pot.
Suited Connectors, Suited One-Gappers (Q-Js - 67s, K-Js - T-8s)
Suited connectors are great hands, played within reason. They do make both straights and flushes - both big-pot hands.
The problem is they don't do it nearly as often as you might think.
When you're in early position, you're best off folding low suited connectors.
If your table hasn't been seeing too many raises before the flop, you can limp the best suited connectors like J♥ T♥ or Q♠ J♠. All others should be folded.
Suited connectors are hands that play well in position. More often than not you're going to miss the flop or hit a weak one-pair hand.
Playing them from out of position, in contrast, is going to put you in too many marginal spots after the flop.
Suited connectors should rarely be played versus a raise unless you are on the button and it is a multiway pot, or the raise is very small.
Suited Aces (A-9s - A-2s)
Suited aces are decent speculative hands because they can flop the nut-flush draw and they do have some high-card strength with the ace.

durrrr can play 6-3o. You can't.

 

Nut-flush draws obviously have value because you can stack smaller flushes.
The problem with flushes though is that they are right there in the open. Everyone is always aware when a flush draw comes in, and as such it is sometimes difficult to get paid.
Suited aces are good hands, but not good enough to limp in from any position. You should be more willing to limp the closer to the button you get.
Against a raise suited aces should seldom be played. You're not going to flop a flush nearly as often as you flop a pair of aces with a weak kicker.
A weak pair of aces can be a curse. You feel like you have top pair and should see a showdown, but by the time you get there you find yourself outkicked and half a stack short.
Weak Top Pair Hands (K-Jo, Q-To, etc.)
These are hands that you want to steer clear of for the most part. They are dominated hands and should be avoided at all costs unless you can get in cheap from late position.
From early position and/or against a raise they should not be played at all.
They don't make many straights or flushes, and when they hit a pair you're going to find yourself on the losing end of the kicker battle more often than not.
Everything Else
Everything else is trash and should not be played marked cards even if it is suited. Suited trash is still trash.
Players get themselves into trouble all the time playing weak suited trash because they think they're going to make a flush.
You don't make a flush with weak hands nearly as often as you may expect, and the rest of the time you're bleeding money. Stop playing them.

Position, Position and Position

The importance of position can't be overstated.
Many people think they understand the concept of playing in position, but they routinely call raises with marginal hands, only to play the rest of the hand out of position.
This is a leak that costs you money. When you're out of position you're playing a guessing game - you have to anticipate what your opponent may do.
They dictate the flow of the hand: if they don't want to put more money in, they don't; if they want to bet three streets, they do.
Which is why being in position is so important: it puts you firmly in the driver's seat. You get last say on everything.
If you want to see a free showdown you do; if you want to value-town someone, you do.
Your opponents will be guessing, just as you are when you're out of position.
As the better player, with the advantage of being in position, you'll ensure that they're guessing wrong more often than right.

First you get the cards. Then you get the moniez.

 

Sit Back and Wait for the Dollars
That's really all there is to it. The most important skill you can have at $1/$2 is patience.
Sit back and wait for a good hand. You should be folding 80% of your hands.
Do not get involved just because you are bored. Start with solid holdings and make solid hands after the flop.
When you're card-dead, that doesn't mean you should be sitting around watching TV. Pay attention to the game and your opponents.
Profile them in your mind; identify who the weak players are and what their tendencies are.
If you know who the loose players are and who the tight players are, you'll be able to understand their bets and raises and what they mean.
Once you figure out your opponents' tendencies, the rest is just a waiting game. Make your big hand and value bet.
Exploit the calling stations and force them to put their money in with worse hands.
$1/$2: it's an easy game.

Video Game Designer Puts New Twist on Poker with HTML5 CasinoRPG

Tired of losing to the house? Poker players will finally get a chance to BE the house in upcoming video game CasinoRPG.
James Simpson, an avid poker fan, and his company GoldFire Studios is trying to kick-start the ambitious game that will combine role-playing, social gaming and gambling games in a massively multiplayer format.
CasinoRPG has elements that may remind players of classic PC games like Railroad Tycoon and Rollercoaster Tycoon.
“This isn't Farmville with casinos, it is truly an MMORPG with a focus on poker and other casino games,” said Simpson.
“The game is played in real-time with friends and strangers alike, even away from the poker tables. Whether you are a marked cards poker, tycoon, city-builder, or RPG fan, there is something for you in CasinoRPG.”
The game is currently featured on Kickstarter and has already raised nearly $10,000 towards production.

From PokerRPG to CasinoRPG

James Simpson made his first poker video game in high school.

 

The 24-year-old Simpson is an intriguing story in his own right. He was motivated to design video games from a young age in Oklahoma City and GoldFire Studios was essentially born out of a number of projects he was working on during high school.
It was around this time Simpson started playing poker home games (he was too young to play in the casino) and quickly fell in love with the game.
Simpson wanted to do more than play home games, however. He wanted the complete poker experience. It was this desire that led him to create PokerRPG.
“The reason I started PokerRPG in 2006 was because I loved poker and I loved role-playing games but there was nowhere to play both at the same time,” he said.
The game gave users a chance to play cards but also customize their poker player avatar by designing their own pad, chat with friends and invest in poker stocks.
PokerRPG went on to develop a strong community and over 13 million hands have been played in the game.

Going Bigger and Better With CasinoRPG

Poker will play a big part of CasinoRPG

 

Simpson describes CasinoRPG as the next level of PokerRPG. You can still play poker in the game but there are also table games like blackjack and slots.
Players start out as a janitor in a casino but can eventually become the casino owner by gambling their way to the top. “As a casino owner, you can actually design and run your own casino, and other people can visit your casino and play your games,” he explained.
Poker is big business when it comes to social gaming. Games like Zynga Poker have hundreds of thousands of marked card tricks players.
“There is a large emphasis on poker specifically within CasinoRPG, and why we think this game will truly stand out in the crowd for poker players is because your winnings are no longer just a number,” he said.
“Most of today's free-to-play poker games just offer the poker, but no surrounding experience.”
Not so in CasinoRPG. In fact players will be able to able to build bigger and better casinos as well as lake-side mansions and sports cars.

CasinoRPG Part of HTML5 Revolution

CasinoRPG's entire world will run in-browser

 

Another major selling point of CasinoRPG is that it utilizes cutting-edge HTML5 technology, which means it will be playable in Internet browsers without any extra add-ons.
It’s a relatively new technology that’s still catching on in the gaming world.
“We've worked with platforms like Flash, Unity and native apps in the past, but they all have very specific drawbacks,” he said.
“HTML5 is finally maturing in a way that lets us address those drawbacks directly and present and truly cross-device experience that just can't exist on those other platforms.”
That means the game can be updated without players having to re-download the software. It also means CasinoRPG is fully accessible on both PCs and Macs.
“I believe people will be blown away by what they see running in a browser with no plugins or downloads,” he said.

How Video Games Could Change Real-Money Poker

Could a poker client like PokerStars be improved?

 

As someone that been designing games for a good portion of his life, Simpson has a unique perspective on the software behind major online poker sites such as PokerStars or Party Poker.
“I have played on PokerStars, Full Tilt Poker and Party Poker in the past,” he said.
“They all have solid pieces of software, but the common thread I've seen lacking has to do with communication. I almost never saw things like chat utilized by players at these sites.”
Simpson went on to say they’ve placed a heavy emphasis on community in CasinoRPG and one of the goals was to have players make friends at the table. There’s a great deal of communication and personalization at the tables.
“These are aspects that could still work well on real-money tables as well,” he said.
CasinoRPG has two more weeks on Kickstarter to make its goal of $20,000 in pledges. Poker fans can check out the Kickstarter page here.

Breaking Down the Three-Bet

In today's ultra aggressive online games, it seems like you can't sit at a table for more than one orbit without facing at least one reraise before the flop.
Many players, however, don't even understand the reasons behind their actions. They just three-bet because it's the popular thing to do.
Some players three-bet way too wide a range, and some way too tight a range.
Both extremes can be very exploitable, and understanding the underlying reasons behind three-betting will help you do it much more effectively.
There are essentially two types of three-bets: the three-bet for value and the "light" three-bet.

The Value Three-Bet

The value three-bet is the "traditional" three-bet and is the same as any other value bet.
You believe you have the best hand, and you'd like to get more money into the pot while you have the advantage.
Which hands deserve to be value three-bet is up for discussion.
It really depends on a variety of factors - the table dynamics, your image, your opponent's image/playing marked cards tendencies, etc.
The key ingredient is that you have a hand that figures to be best against your opponent's range.

Three-betting too tight makes you predictable.

 

Against a standard tight-aggressive player your three-bet for value might be fairly tight - something like AA-JJ and A-K.
If instead you're up against a loose-aggressive player or a fish who you know likes to call reraises light, your range might be much wider - something like AA-99, AK-AQ.
The problem with three-betting too tight a range is that you risk becoming predictable.
If you play with the same opponents, they are going to catch on that when you three-bet you have a monster hand.
If they can accurately put you on four to five hands every time you reraise, they'll be able to make perfect decisions against you.

The "Light" Three-Bet

The "light" three-bet is when you reraise a pre-flop raiser with a hand that does not rate as the best at the moment but that still has value for a variety of reasons.
A light three-bet is a semi-bluff. Basically your first goal is to win the pot immediately. You would like your opponent to fold to your reraise.
Thus, your ideal opponent to three-bet light is a player who is loose with their opening raises.
You know that they raise light and thus you can reraise them light, because you know that for the most part they are going to have to fold.
This will win you the pot without even seeing a flop.

Image

If you have the image of a supertight player, you are going to have a hard time getting paid off on your big hands.
That's because they know you're tight and that if you are coming out shooting, you must have a hand.

Image is everything.

 

When you start three-betting light, your image of being a nit will be thrown out the window.
Let's say you three-bet a guy with 8♠ 7♠ and end up showing down two pair.
Now your opponents will start to look at you in an all-new light.
They'll be thinking, "Man, this guy isn't a nit after all. He just three-bet me with eight-high. I am going to call that guy down more often. He's clearly FOS."
Three-betting counters whatever tight image you might have established and allows you to play a more rounded game.
If your opponents believe you're full of it, then you're going to make thin value bets all day long until they readjust.

Balancing Your Range

Three-betting light is essential to making sure your reraises are more balanced.
If you only three-bet a tight range - say AA-QQ and A-K - then your opponents know that when you three-bet, you can only have one of four hands.
Obviously, not a balanced range.
When your reraising range is so narrow, your opponents are always able to make the right decisions.
As mentioned, though, when you add the light three-bet to your arsenal, your opponent can't be certain as to what you hold marked cards lenses.
You could have double aces or you could have 4♠ 3♠. They'll be left guessing.
And when they're left guessing, you leave the door open for them to make mistakes.
They will end up calling you when you have the goods, and folding when you have nothing.

What's a Good Light Three-Bet Candidate?

There is no one "good hand" for three-betting but there are certain types of hands better than others.
When you understand that the light three-bet is basically a semi-bluff, it makes it easy to determine which is which.
Your goal is to win the hand without showdown, but obviously that isn't always going to work.
So, when you're called, you want to have a hand that can play poker on the flop.
Suited connectors are great light three-bet hands because those times you do get called, you have the ability to flop a strong draw and potentially stack a guy.

Keep yourself in check.

 

This just isn't going to happen if you are three-betting T♥ 4♣.

Keep Yourself in Check

Remember, most of the value from the light three-bet stems from the fact that it's a semi-bluff.
You are relying on your opponent to fold the majority of the time.
If you start three-betting too often, your opponents will stop giving respect to your three-bets and start looking you up more often.
When that happens, your fold equity is gone and there is less value in three-betting light.
Now would be a good time to switch gears and benefit from your confused opponents paying you off light.

It's Not Rocket Surgery

The primary reason to three-bet is for value. Everything else is just a product of that. You want to get value out of your good hands.
However, if your three-betting range is too tight, then your opponent will adapt and just fold every time you three-bet.
Three-betting light balances your three-bet range and leaves your opponents guessing - and when they are left guessing, as we saw, they're going to make mistakes.
And as we all know, those mistakes are just numbers added to your bankroll at the end of the night.

Macau Gambling Revenue Hits Record in December

Macau, the world's largest casino market, raked in $38 billion in annual gambling revenues in 2012 after monthly revenues for December hit a record, a signal of sustained strength in the only place in China where visitors are able to legally gamble in casinos.

December's revenue growth of 19.6 percent, which came in ahead of forecasts of 16-18 percent, was boosted by stronger visitation numbers during the holiday season. The monthly figure of 28.25 billion patacas ($3.54 billion) was the strongest ever, according to data from the Macau government released on Wednesday.

Located on China's southern coast, Macau, a special administrative region like neighbouring Hong Kong, had seen gambling revenue growth fall marked cards sharply in 2012 due to lower spending by VIP customers who account for 70 percent of total revenues. Annual gambling revenue for 2012 rose 13.5 percent versus 2011 when revenues rose 42.2 percent.

Slower economic growth in China, tighter scrutiny of money transfers and moves to combat the country's entrenched corruption had dampened sentiment last year.

As a result, casino operators, including Las Vegas tycoons Sheldon Adelson and Steve Wynn, who own properties in Macau, saw earnings growth topple from 2011 due to subdued appetite from VIP Chinese gamblers and growing competition from Asian operators such as Galaxy Entertainment Group.

The stronger-than-expected monthly figure is positive for the market said analysts, but with no new supply set to open in Macau for the next two years, a new anti-smoking regulation that comes into effect in 2013 and tighter scrutiny over the VIP junket market, casino operators are in a more challenging position to boost revenues.

"For 2013 we are still not expecting it to be a fantastic year because the casino properties are already running at full capacity," said Aaron Fischer, head of Asia consumer and gaming research at brokerage CLSA Ltd in Hong Kong.

Higher spending by China's burgeoning middle class has been a key factor in propelling revenue gains in 2012, offsetting a slowdown in VIP growth marked card tricks. Whether volumes in the high end VIP market will stabilise and accelerate further on the back of stronger economic growth is an issue over which analysts remain cautious.

Estimates for 2013 gambling revenue growth range from 5-10 percent with the central government keen to maintain Macau's growth rate at a similar pace to the country's GDP rate, say industry executives.

Authorities are pushing to diversify the gambling-dependent hub with more leisure offerings in the hope of attracting a wider visitor base, including a wedding incentive scheme the Macau government launched in November that grants 300 patacas per local guest for their activities in Macau.

Analysts remain upbeat for Macau's outlook, citing an improving economy in China and infrastructure developments that will shorten the journey from the mainland to Macau.

Gambling in Macau

Gambling in Macau has been legal since the 1850s when the Portuguese government legalised the activity in the colony. Since then, Macau has become known worldwide as the "Monte Carlo of the Orient".

Gambling tourism is Macau's biggest source of revenue, making up about 50% of the economy. Visitors are made up largely marked cards of Chinese nationals from the mainland and Hong Kong. With the entry of large foreign casinos from Las Vegas and Australia, Macau overtook theLas Vegas Strip in gaming revenues in 2007.

Until Western-style casino games were introduced in the 20th century, only Chinese games were played, the most popular being Fan-Tan. Generally, gambling in Macau can be divided into three different categories: casino games and greyhound racing. There is also sports betting and a number of lotteries. At the present time, Macau does not license online gaming operations.

History

In an attempt to generate revenues for the government, gambling in Macau was legalised around 1850. In the late 19th century, the government introduced a licensing system for the fantan houses (Chinese gambling houses). It is reported that over 200 gambling houses were required to pay gambling rent to the government. The second casino monopoly concession was granted to the Tai Heng Company in 1937. The company was, however, too conservative to fully exploit the economic potential of gambling. The industry saw a major breakthrough in 1962 when the government granted the Sociedade de Turismo e Diversões de Macau (STDM), a syndicate jointly formed by Hong Kong and Macau businessmen, the monopoly rights to all forms of gambling. The STDM introduced western-style games and modernised the marine transport between Macau and Hong Kong, bringing millions of gamblers from Hong Kong every year.^[1] The license was extended in 1986 for another 15 years but expired at the end of 2001.

Macau was transferred to the People's Republic of China in 1999 and became a special administrative region of China. During this transition, there were no changes to gambling policy in Macau.

In 2002, the Macau government ended the monopoly system and 3 (later 6) casino operating concessions (and subconcessions) are granted to Sociedade de Jogos de Macau (SJM, an 80% owned subsidiary of STDM), Wynn Resorts, Las Vegas Sands, Galaxy Entertainment Group, the partnership of MGM Mirage and Pansy Ho Chiu-king, and the partnership of Melco and PBL. Today, there are 16 casinos operated by the STDM, and they are still crucial in the casino industry in Macau, but in 2004, the opening marked card tricks of the Sands Macau ushered in the new era.

Economic aspects

The so-called "Monte Carlo of the Orient", Macau's economy relies heavily on gambling. Nowadays, the gambling industry generates over 40% of the GDP of Macau. Since the early 1960s, around 50% of Macau's official revenue has been driven by gambling. The percentage remained steady until the late 1990s. In 1998, 44.5% of total government revenue was produced by the direct tax on gambling. Then there was a 9.1% decrease in 1999, probably due to internet gaming. After the handover of the Macau from Portugal to China, the SAR released gambling licenses to other companies in order to eliminate the monopoly played by the STDM. In 2002, the government signed concession contracts with two Macau gaming companies, Wynn Resort Ltd. and Galaxy Casino. This opened the gambling market for competition and increased government tax revenue significantly. It also attracted more tourists to Macau. At this moment, according to official statistics, gambling taxes form 70% of Macau's government income.

Many forms of gambling are legal there, such as blackjack, baccarat, roulette, boule, Sic bo, Fan Tan, keno and slot machines.

However, the gambling industry is also a source of instability in the Macau economy, as the nature of gambling business is not susceptible to technological advancement or productivity growth. The gambling business is still dependent on the prosperity of other Asian economies, especially that of Hong Kong.

Things To Do in Las Vegas, Plan on Going Soon

Vegas is one of the most exciting cities in the United States. There are so many things to see and do while you are in Las Vegas. The city is home to some of the most elaborate and amazing looking hotels and casinos in the world. The city also has many attractions and not far from Vegas is the incredible Grand Canyon. There is always something to do while in Las Vegas and never a dull moment. Truly a city that never has a bedtime, the variety of things to do can be from inexpensive tours to the most high class and ritzy places in the state of Nevada, like the Strip. If you enjoy a game of cards, and there are a variety of places and games to fill your fun, or want to go to a Vegas show at one of the many venues that range from family marked cards oriented fun to "gentleman's shows" there is always something for everyone to do while they are in the lively city of Las Vegas Nevada.


For all the money savvy visitors, fear not for deals can be found. On Fremont Street hotels like the Golden Nugget have different deals they offer during the week that save you money and make the burden of spending lightened. From Fremont Street, there are casinos and free things to do that are all just a part of the experience of staying on Fremont Street during your visit to the city that never sleeps. A futuristic and exciting light show, with exotic sound effects, offers an awesome visual experience that is not likely to be forgotten once your visit to Las Vegas is complete. Hundreds of eager people make the journey to this take part in this visual genius, and participate in the entertainment that is so widely available. Fremont Street has a much different cheat poker vibe than that of the Las Vegas strip, in the manner of hotels and casinos. Most of the hotels that are close to those of Fremont Street usually have deals and bargains that are worth looking into. Other hotels with special bargains include the famous, Stratosphere Hotel, The Luxor, Tropicana Hotel, Excalibur, and other recognizable names in the industry of Hotels.

Those who are ready to spend money and spend their days visiting Las Vegas in the thick of it all, you might want to consider staying in one of the Award Winning Super-Resorts like the MGM Grand Hotel, The Wynn and Encore, The Bellagio Hotel, and other hotels that are honestly right where are the action is in the city. All of these luxurious hotels/mega-resorts have the most up to date and exciting gaming, fine dining with food prepared by world renown Chefs, and some of the most popular shows in the entire city, all within the bounds of the hotel you choose to stay in.
No matter the occasion for you visit, be it business or just to vacation, you will not be disappointed in the options available to you for entertainment that Las Vegas has to offer. Last but not least, the "Entertainment Capital of the World" which is better known simply as The Strip, is completely jam packed with things to do that will serve to anybody's interest.
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