BallaDoc Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
Uhtred Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
GD4ELI Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
P.K. Posted September 28, 2018 Share Posted September 28, 2018 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.... Link to comment Share on other sites More sharing options...
Non-Believer Posted September 28, 2018 Share Posted September 28, 2018 E-gaming is getting to be the ONLY sector we have, let alone one to be proud of. Link to comment Share on other sites More sharing options...
yootalkin2me Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
Shake me up Judy Posted September 28, 2018 Share Posted September 28, 2018 The 'addiction economy' is nothing to be proud of, but the Island is long used to whistling and looking the other way if it makes a few rupees. Link to comment Share on other sites More sharing options...
GD4ELI Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
yootalkin2me Posted September 28, 2018 Share Posted September 28, 2018 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.. Link to comment Share on other sites More sharing options...
P.K. Posted September 28, 2018 Share Posted September 28, 2018 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.... Link to comment Share on other sites More sharing options...
BallaDoc Posted September 28, 2018 Author Share Posted September 28, 2018 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 Link to comment Share on other sites More sharing options...
Shake me up Judy Posted September 28, 2018 Share Posted September 28, 2018 It accounts for the greater portion of our increased Gambling Domestic Product figures just announced. Link to comment Share on other sites More sharing options...
Lxxx Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
Billy One Mate Posted September 28, 2018 Share Posted September 28, 2018 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. Link to comment Share on other sites More sharing options...
P.K. Posted September 28, 2018 Share Posted September 28, 2018 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.... Link to comment Share on other sites More sharing options...
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