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BallaDoc

E-gaming is a sector we can be proud of, says Quayle

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http://www.iomtoday.co.im/article.cfm?id=43051&headline=eGaming is a sector we can be proud of says Quayle&sectionIs=NEWS&searchyear=2018

Ye Gods.  Am I the only one who has a problem with this?  As I understand it, the basics of e-gaming are these: you take a pound from each of 100 people on the basis that they all have a chance of winning a lot of money.  99 out the 100 get nothing.  The remaining one gets 85 pounds.  The organisers get 15 pounds (assuming a gaming yield of 15%, which I believe is the industry standard).  No physical goods are produced.  And this, according to Quayle, makes up 28% of our economy, and that's a good thing. 

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Ah yes, but Howard Quayle is a fatuous ignoramus and his pronouncements carry zero weight (unlike the man himself) so ignore him and move on with your day.

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14 minutes ago, BallaDoc said:

http://www.iomtoday.co.im/article.cfm?id=43051&headline=eGaming is a sector we can be proud of says Quayle&sectionIs=NEWS&searchyear=2018

Ye Gods.  Am I the only one who has a problem with this?  As I understand it, the basics of e-gaming are these: you take a pound from each of 100 people on the basis that they all have a chance of winning a lot of money.  99 out the 100 get nothing.  The remaining one gets 85 pounds.  The organisers get 15 pounds (assuming a gaming yield of 15%, which I believe is the industry standard).  No physical goods are produced.  And this, according to Quayle, makes up 28% of our economy, and that's a good thing. 

'when combined with ICT'

But yes, it's a good thing. High tech, world-leading company, lots of investment.

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Someone pointed out that "To some people gambling is a disease which makes the IOM a nasty little pool of infection in The Irish Sea...."

How you can have a pool in a sea wasn't explained....

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E-gaming is getting to be the ONLY sector we have, let alone one to be proud of.

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Ah yes, the three legs of Mann should now adorn fishnet stockings, suspenders and high heeled stilettos seeing as it continually whores itself out for any kind of dirty money, being doing it for over 30 years now...time for a change go the national emblem. 

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2 minutes ago, yootalkin2me said:

Ah yes, the three legs of Mann should now adorn fishnet stockings, suspenders and high heeled stilettos seeing as it continually whores itself out for any kind of dirty money, being doing it for over 30 years now...time for a change go the national emblem. 

Gambling has been around for 5,000 years at least and there are no signs that it'll disappear any time soon.

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8 minutes ago, GD4ELI said:

Gambling has been around for 5,000 years at least and there are no signs that it'll disappear any time soon.

Thanks for the history education but it's irrelevant, killing has also been going on for thousands of years, if not longer, and we don't make money out of that.....oh hang on...TT....FoM..

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26 minutes ago, GD4ELI said:

Gambling has been around for 5,000 years at least and there are no signs that it'll disappear any time soon.

Ahhh... So that's all right then!

Errrr Hang on a minute.

No it isn't....

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Some say that gambling's a sin
But I'll bet you 15 to 1
That gambling has been in this world
Since horses and greyhounds could run

Seven Deadly Sins, The Dubliners

But there wasn't anything in the song about 28% of the economy being based on it

Edited by BallaDoc

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The City of London is worth trillions, fuels the UK economy, all funnelling little bits of data around screens, a lot of it funny money and some of it certainly immoral.

Silicon Valley produce some of the largest companies in the world; Airbnb is the biggest company in it's sector  by market cap. They don't produce anything. The worlds largest transport company is Uber and they just act like a high tech taxi switchboard operator. Producing nothing.

We need to stop obsessing about how we produce wealth and focus on attracting more of it before we become even more irrelevant than we already are.

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Must admit I struggle with this being a positive from a moral prospective in that its an industry just distributing money from one person to another and not actually producing anything, although some would say people get enjoyment from it just like drinking a pint down the pub. However its a Global Industry, here to stay so why not have a good share of it on the Island and encourage its growth as it definitely produces economic benefits for our Island.

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5 minutes ago, Lxxx said:

The City of London is worth trillions, fuels the UK economy, all funnelling little bits of data around screens, a lot of it funny money and some of it certainly immoral.

Silicon Valley produce some of the largest companies in the world; Airbnb is the biggest company in it's sector  by market cap. They don't produce anything. The worlds largest transport company is Uber and they just act like a high tech taxi switchboard operator. Producing nothing.

We need to stop obsessing about how we produce wealth and focus on attracting more of it before we become even more irrelevant than we already are.

We need to stop obsessing about wealth and focus on people because they should be the most relevant part of our lives....

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