Slots To Smartphones: Pandemic Sends Australia apos;s Gambling Problem...

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But others could not help but discuss the tumult sweeping through equities, bonds and currencies. Boaz Weinstein, founder of hedge fund Saba Capital, would not predict when the stock market would reach a bottom.

The money managers were gathered for a charity tournament to play a card game that, in some circles, is taken almost as seriously as their day jobs.
As a DJ blasted music, competitors spent the evening shoulder-to-shoulder, setting aside work for play.

But gamblers' loss in online sports betting swelled A$3.2 billion or 80% to A$7.1 billion in the same period, showed figures supplied by industry consultancy H2 Gambling Capital, which excluded credit often rewarded in promotions.

They allegedly paid the winners cash if they handed over their winning cheques, which would then be issued in a syndicate member's name, and later attributed as legitimate gambling winnings in the bank.

After decades of gambling deregulation, governments are cautious about reversing course, given tax revenue and industry lobbying, even amid public concern about a habit that strips voters of A$25 billion per year - or A$1,000 per person, more than double the United States.

"To anybody who's 25 who thinks there are millions of dollars in there to be had, there aren't," he said. "There are millions of dollars to be lost." ($1 = 1.5024 Australian dollars) (Reporting by Byron Kaye and Praveen Menon; Editing by Christopher Cushing)

The champion was crowned after 1 a.m. The winner turned out not to be a hedge fund manager, professional poker pkv player or even a banker. She was Alejandra Cata, a real estate agent and model, who was playing in only her second-ever competition.

Roughly 400 attendees were spread out over about 30 tables under a massive domed ceiling modeled after ancient Rome's Pantheon. Wall Street's Morgan Stanley sponsored a table, as did famed hedge funds Pershing Square Capital Management and Third Point.

The 35-year-old's entourage asked owner Jim Ratcliffe to start him in the first match of the season, but Schmeichel found himself on the bench instead, having reportedly arrived with a 'very high' body fat percentage.

Winless Leicester went into the international break rock bottom of the Premier League, after a disastrous run of form and a destructive transfer window at the King Power, although they have the chance to move off the foot of the table against Nottingham Forest on Monday.

A 12-month investigation culminated in three arrests, with the Australian Federal Police on Wednesday announcing they charged a trio for allegedly dealing with at least $1 million worth of crime proceeds.

The evening allowed participants to set aside concerns about the bear market for stocks, surging inflation, rising interest rates and the war in Ukraine, which are fueling market volatility and creating plenty of trading opportunities.

While new Foxes No 1 Danny Ward has struggled to step up to the plate, Schmeichel has failed to assert himself as the undisputed first-choice keeper in France, sharing minutes across all competitions with Marcin Bulka.

The trio included the alleged ringleader of the syndicate, a 49-year-old woman from Springvale South in Melbourne's southeast, along with a 63-year-old man and a 61-year-old woman from Noble Park, also in the southeast.

"We seek to cripple their business models. The AFP has investigators, analysts and lawyers working consistently to outsmart anyone who accumulates wealth they cannot explain or lifestyle they cannot lawfully justify," she said.

Musk has said he would finance the deal with his own cash, co-investors and bank financing, and its unclear what impact, if any, the withdrawal of Apollo and Sixth Street might have on the structure of the deal.

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Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections.
Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look.

As lockdowns made a crime of many forms of socialising, gambling became more attractive among "socially isolated or bored" young men, said Rebecca Jenkinson, executive manager of the Australian Gambling Research Centre.