I love the energy behind this movement! WSB has become a decentralized hedge fund the likes of which the investment world has never seen before!
But all of you new guys arriving here over the past few days need to understand something:
I walk into a casino, sit a slot machine, pull the handle and hit a jackpot. I tell you to try it, so you pull the handle and hit a smaller jackpot! It seems that this particular machine is paying out! Now there are a crowd of people all taking turns, pulling the handle and getting paid!
The casino manager sees this, he closes down the casino to investigate.
Upon reopening the casino, the slot machine is no longer paying, but people are still trying.
All of us here, all of wsb and reddit are just the customers in the casino. Even our combined buying power is just a drop in the ocean compared to the leverage that institutions can access.
The GME story caught them off guard, it was a unique situation that is not easily repeatable.
Now that the hedge funds have had time to analyze and understand the situation, the algos have been adjusted and with every passing day the odds of the little guy winning here are dropping dramatically!
u/diamondhandthotslyr posting 💎GME💎🤲🏻💎🚀🚀💎🚀🦍🦍🚀 and getting +1000 upvotes may feel all warm at fuzzy at the moment, but it is not sound advice!!!
No amount of diamond hand emojis change the actual fact that more retail were selling than buying last week: https://i.imgur.com/rz8I3Vt.png
(source: https://www.bloomberg.com./opinion/articles/2021-01-29/reddit-traders-on-robinhood-are-on-both-sides-of-gamestop )
Short squeezes can, and do end as fast as they begin. Go look at the NOK chart to understand.
You new guys, do not feel as if you are going to miss out if you don't buy GME! There will always be more opportunities, be patient, take time to watch and learn!

Hello everyone! I have only been on Reddit for a few months but I learned so much from it that I figured I should try and give back to the community. English is my second language and this is the first time I ever write a full-length article, I hope you will enjoy reading it and I would be very thankful if you could provide some feedback about my writing, about the topic, or about anything else really… So here goes!
Why you should learn poker and game theory:
My story is similar to that of many: I learned about the game 10 years ago (during the golden age of online poker) when some friends of mine invited me to play a home game. Although I initially thought of poker as just another game of chance akin to playing slots or roulette in a casino, I quickly came to realize that there is a lot more to it as my more experienced friends would repeatedly get the best of me during these home games, which led me to start watching videos and reading strategy books to improve my skill… Little did I know it’d be the start of a journey that would impact many different aspects of my life way beyond the game itself, as most of the fundamental principles learned through poker can be applied to your decision-making outside of the game, especially when it comes to money management and investing. Now, let’s dive into a few of these principles:
​
- Risk management (i.e. Bankroll management)
When learning about how to be successful playing poker, the first big piece of advice most people come across is bankroll management or BRM. To understand BRM, you must first realize that poker has a lot of variance: you might be vastly ahead in a given hand but there is almost always a slim chance that you will lose in the end if one specific card hits. This implies that you will sometimes lose even though you were a 99% favorite, and that you will sometimes get unlucky and lose 2, 5 or maybe even 20 such encounters in a row. THIS is variance. It doesn’t mean that you played bad or that you made bad decisions, but rather that you got unlucky. Over time you will have lucky streaks and unlucky streaks, and these will average out in the long term… It’s just the way the game goes.
Now that we understand variance, let’s get back to BRM. What is it exactly? Let’s say you are the best poker player in the world but you only have 1000$ that you can EVER use to play with. Taking your whole 1000$ on one table and multiplying your stack at an exponential rate might seem like a good idea. Surely nothing can go wrong since you’re the best player in the world right? But variance can be a bitch ;) Even if you’re the best you will lose regularly and you will sometimes get unlucky, it’s just part of the game. The correct move here is to apply BRM, which means only using a small % of your available capital for each game you play in order to reduce the risk of going broke. Using only 100$ per game would already be a lot safer, but you still run the risk of going under on a streak of bad luck. If you only allocate 10$ per game you play, then it becomes virtually impossible for you to ever go broke, even on a huge streak of bad luck. Sure it’s not as exciting and you won’t be making money quite as fast as you could, but this is the way to go to make sure you don’t go broke…
This approach to risk management translates very well to investing:
- Only invest what you can afford to lose. Once the money is on the table it’s as good as gone, which is why you should only use your “spare” cash and never invest with your living expenses or worse, borrow money to invest.
- Diversify your investments. There is always a chance, however slim it might be, that you will lose most of your investment. This is why going all-in on a specific investment is generally a bad idea (this applies particularly well in the crypto space).
Proper BRM allows you to make sure that you will come out ahead in the long run if you play well, which basically comes down to making more good decisions than bad ones. But that’s assuming you don’t let emotions come in the way of your decision-making, which brings us to our next point…
​
- Emotional management (i.e. Handling tilt/Positive mindset)
Nobody likes losing… In the same way we enjoy winning because of the dopamine rush, we feel bad when we lose which is totally natural. Overcoming this and avoiding tilt (irrational decisions made out of angefrustration) is an essential skill for any successful poker player. You might play a sound game of poker and apply good BRM, but you will still lose if you let your emotions get the best of you.
After a loss, rather than being angry and frustrated, you should evaluate your decision-making. If your decision-making was good, you just got unlucky and you shouldn’t worry about it since you are playing for the long run (remember that variance teaches us that anything can happen in the short-term). If your decision-making was bad, you need to learn from your mistakes and move on. The key here is to always have a positive mindset: making mistakes is part of the learning process and should be seen as an occasion to improve. Being angry and ranting, on the other hand, rarely result in anything positive.
Again, this translates very well to investing:
- Don’t be impulsive, don’t let your emotions cloud your judgment. You should not FOMO because the price is pumping, nor should you sell because of FUD or price corrections. If you believe in a project, short-term price changes (did I hear someone say “variance”?) shouldn’t bother you.
- Don’t get stuck up on losses. You bought the top and it crashed immediately after? You sold the bottom right before a huge rally? Don’t let this bother you: what’s done is done and you just need to move on and make the best of your current situation.
- Have a positive mindset. Anger and frustration lead to nothing. Yes you could have bought in 2009 when you first heard about it, hindsight is always 20/20. Stay positive and keep learning/improving yourself.
The good thing about all this is that it goes way beyond poker or investing. Being aware of your emotions and how they affect you, learning how to handle losing even when you were “supposed” to win, etc… All this can tremendously help you in all aspects of life by making you less impulsive and more rational in your decision-making. Now, this leaves us with our last fundamental principle of a sound poker strategy:
​
- Basic stats and probabilities (i.e. Expected value/Odds)
To become an accomplished player, you will inevitably have to learn about these simple mathematical tools that poker players use all the time in their decision-making process, such as odds and expected value. To make it very simple, the expected value (EV) of any bet is (REWARD \ WinRate - RISK), meaning that if you can bet 1000$ with a chance to win 10k$ half of the time, your EV is *(10000\0.5)-1000 = +4000$**. Obviously these are great odds to take as long as you have enough capital to overcome variance. But things would be very different if the odds of winning were only 5% as your EV would then be negative *(10000\0.05)-1000 = -500$.*** Now this is clearly a bet you should not take…
Now that you know probabilities, statistics and game theory are useful decision-making tools in poker, guess what? They are also extremely useful in investing! Even better, the study of game theory with problems such as the “Byzantine generals” or the “Three prisoners” has been, along with cryptography, the foundation on which blockchain technology was built, enabling the trustless and decentralized services that are about to revolutionize our world…
Assuming this was enough to pique your interest and make you want to dig deeper, I’ll just add that just like the other topics we discussed and as you might have guessed, this translates very well to investing and also to pretty much anything in your life:
- Learn how to break down complex situations. Logical thinking paired with a statistical approach will help you break down any complex problem into several easier problems, making the whole thing a lot easier to approach/comprehend.
- Base your decisions on a methodical and rational approach. List every possible outcome along with its associated upside/downside, estimate the probability of each outcome to occur and make the best decision based on the information available.
My point here is that risk management, emotional management and statistics/game theory are all awesome tools that you should definitely add to your arsenal. Not only will it improve your money-management and investing, it will also be beneficial to your decision-making and to your life in general. Of course poker is not the only way to learn about these, but I personally found it to be the best practice ground to refine and improve them, which is why I strongly encourage you all to try it out and study the game.
I hope you enjoyed the article, and I wish you all a happy 2021 bull run! May we all come closer to retirement and financial independence!
​
TL;DR: more than a game, poker is a school of thought. It teaches you to be reasonable, to assess the risk of every single choice you make, to overcome you emotions, to play the long game rather than the short game, to make informed decisions, etc… This has made me a lot wiser in every aspect of my life, which is why I strongly encourage to try it out and read about poker strategy.

Few new elite specialization ideas for the Canthan expansion, with no new weapon types involved:

Elementalist: Skyfire

• Gain Elemental Enchantments and Weapon Swap instead of Elemental Attunements. Every time you use an individual weapon skill, it will automatically swap itself to the next element, using the cooldown of the previous skill. Use an elemental enchantment to refresh those cooldowns and force all your weapon skills to channel the same element at once. By default, the order followed by the automatic swap sequence is fire, water, wind, earth, and then fire again. This order can be customized through traits. Glyphs and traits relying on active attunements will use the active element of the fifth weapon skill as the reference instead.
• You can wield the Longbow weapon in combat. All five longbow skills work as chain skills, giving them good synergy with the elemental enchantments mechanic.
• Gain access to Mantra slot skills. Just like weapon skills, mantras gain different effects depending on their active element, which swaps automatically with every use.

Mesmer: Trickster

• Gain Spectres instead of Clones. Spectres are weaker than clones, but replicate themselves on destruction, reducing their size and power. A normal spectre will spawn two medium spectres, a medium spectre will spawn two small spectres, and a small spectre won't replicate any further. Shatter skills affect all spectres no matter their size, adjusting their strength to the size of each shattered spectre.
• You can wield the Shortbow weapon in combat. All five shortbow skills work as channeled skills, employing multiple consecutive projectiles at once. Each of these projectiles is weaker individually, but their combined effect has the same strength as any common ranged weapon. When all the projectiles hit their target, the strength of the combined effects double.
• Gain access to Shout slot skills. Shout effects are divided in three phases, each triggered by one of the three spectre sizes. The first phase is triggered by the mesmer and normal spectres, the second by medium spectres, and the third by small spectres. Completing the three phases will unlock an additional fourth effect, triggered by all spectres at once. Shouts are inspired by Canthan poetry, each phase covering one out of four verses.

Necromancer: Apothecary

• Gain Plague Bomb, Toxic Pollen, Afflicted Miasma, Scarab Spore, and Plague Shroud instead of Death Shroud. Plague Bomb throws an explosive to the target area. Toxic Pollen, Afflicted Miasma, and Scarab Spore work as enchancements for your bombs. Activate and combine them to modify the effects of your plague bomb, leading to a total of eight possible combinations. Plague Shroud turns the necromancer into a walking combo field. All plague skills consume life force.
• You can wield the Pistol weapons in combat. Pistol skills gain additional effects depending on the active plague enhancements.
• Gain access to Elixir slot skills. Elixirs work as ammunition skills, consume their charges sparingly to gain various passive effects, or consume them all at once to induce a frontal area of effect vomit attack.

Engineer: Dreadnought

• Gain Dreadnought Suit instead of tool belt skill five. Activate the Dreadnought Suit to drive your own combat armor, gaining alternate tool belt skills. Any engineering kits you wield during the transformation will gain alternate weapon skills as well.
• You can wield the Mace weapons in combat. Mace skills are inspired by the core engineer Tool Kit utility skill, which has been removed and replaced by a new gadget elite skill. Additionally, maces are not exclusive for the dreadnought elite specialization, and once unlocked can be used by the core profession and any other elite specializations as well.
• Gain access to one new healing engineering kit, one new utility gadget, one new utility elixir, one new utility engineering kit, one new utility turret, and one new elite engineering kit. These new slot skills are exclusive for the dreadnought elite specialization.

Ranger: Bulwark

• Gain Pet Focus instead of Pet Swap. Both pets are deployed in combat simultaneously, pet focus letting you command the beast skills of one pet at a time.
• You can wield the Shield weapon in combat. The fifth weapon skill turns defensive mode on and off, reducing your movement speed in exchange of alternate weapon skills. This affects the fourth shield skill, as well as all three skills from main-hand axe, main-hand spear, and main-hand sword.
• Gain access to Venom slot skills. Venom effects are applied to the ranger, both pets, and up to four other nearby allies. Once used against a target enemy, their negative effects stack, increasing their strength the more hits the target receives.
• Find and tame Juvenile Crab, Juvenile Eel, and Juvenile Phoenix pets during your journey across Cantha.

Thief: Shadowblade

• Gain Shadow Blade and Shadow Strike instead of Steal. Shadow Blade summons an exact copy of the thief, with half the attributes and health. This shadow blade companion will follow the thief for ten seconds, mimicking all of his actions within a delay of two seconds. Shadow Strike commands the companion to shadowstep to the target foe and gain a stolen skill.
• You can wield the Greatsword weapon in combat. The first weapon skill has five chain steps instead of the usual three. Weapon skills two to five gain stronger effects the further the chain progresses, and will not interrupt it when used. Successful hits by the shadow blade will count as a step forward for any chains on progress, greatsword or not.
• Gain access to Stance slot skills. Stance effects are applied simultaneously to both the thief and the shadow blade.

Guardian: Spiritcaller

• Gain Virtue Attunement instead of Virtue Activation, Just was Xun Rao instead of Virtue of Justice, Resolute was Reiko instead of Virtue of Resolve, and Courageous was Ashu instead of Virtue of Courage. Attune to a virtue to strengthen its passive effect, disabling the effects of the other two virtues in the process.
• You can wield the Warhorn weapon in combat. The warhorn gains alternate weapon skills depending on the active attunement.
• Gain access to Spirit slot skills. Just like warhorn skills, spirits gain different effects depending on the active attunement.

Revenant: Windwalker

• Gain Wind Walk instead of dodge rolling. Hold the dodge key to dash instead of dodging, dash distance increasing the longer you hold down.
• You can wield the Greatsword weapon in combat. Weapon skills two to five work as charge skills, gaining stronger effects the longer you hold down. Wind Walk does not cancel charge skills, giving it good synergy with greatsword skills.
• Invoke the power of the legendary tengu windwalker, Tsuru Whitewing, and gain access to Legendary Windwalker slot skills. All five windwalker skills depict famous tengu paintings, representing different events across tengu history. Skills six to nine represent how each of the four tengu houses came to be, in turn inspired by the four winds. The elite skill, "The Great Wave off Shing Jea", represents the Great Tsunami itself, and the culmination of the tengu journey.

Warrior: Thunderlord

• Gain Thunder Bell instead of Burst weapon levels 2 and 3. Thunder Bell summons a mystical cannon bundle, which can alternate between ranged and melee modes through weapon swap. Carry it on your left shoulder to fire thunderbolts against your enemies, or use both hands to wield it as a blunt weapon and crush them at close combat. Thunder Bell is considered a level 2 burst skill, and once activated, both the ranged and melee versions will replace the previous weapon bursts with their own level 3 burst skills.
• You can wield the Staff weapon in combat. Weapon skills two to five work as sequence skills, unlocking additional skills on successful hits.
• Gain access to Preparation slot skills. Preparations gain stronger effects depending on individual adrenaline thresholds.

Some lore tidbits, for those interested:

• Elementalist - Skyfire: Ancient naga battlemages, brought back from the dead as the frozen waters of the Jade Sea brim with life once again. Horrorized at the woes of the modern world, they gather the Luxon clans and the kappa tribes for war.
• Mesmer - Trickster: Members of the Jade Sisterhood, they run the brothels, casinos, and theatres of Kaineng City. They specialize on blackmail, bribery, and deception. Their influence seeps deep into the Canthan aristocracy, making them impervious to the law.
• Necromancer - Apothecary: Cultists of the Am Fah, self-proclaimed freedom fighters for the lower classes and lesser races of the empire. They will stop at nothing to overthrow the emperor, resorting to biological terrorism if necessary. After all, they can always blame the Celestial Ministry.
• Engineer - Dreadnought: The noble men and women who drive the war machines of the empire, their combat armors admired and feared by allies and enemies alike. Rumor says their cannons are powered by the spirits of ancient deities, imprisoned by the dark sorcerers of the empire.
• Ranger - Bulwark: Elusive beastmasters of the sidhe race, renown wardens of the Echovald Forest. Driven crazy after the Jade Wind, few survived to regain their sanity. As the Kurzick rebels and their dredge allies expand carelessly across the forest, conflict will once again be inevitable.
• Thief - Shadowblade: Assassins of the Obsidian Flame, gone rogue after the guild was disbanded by the Celestial Ministry. They wage a secret war against the empire's corruption, supported from the inside by the remaining loyalist factions. Their numbers are thin, but their resolve unshakeable.
• Guardian - Spiritcaller: Forefront of the Celestial Ministry, guardians of tradition, followers of the old ways, and the last remaining ritualists of Cantha. Mouthpieces for the imperial propaganda, they channel the echoes of the fallen heroes of the empire, binding the spirits of criminals to their service.
• Revenant - Windwalker: Elite tengu bodyguards and executioners, they pay for the crimes of their Sensali ancestors with lifetime service and utmost devotion to the human imperial throne, deeming their brothers beyond the sea as nothing but despicable traitors.
• Warrior - Thunderlord: Warrior monks of the Sai Ling Order, they commune with the Great Celestials to channel their might, embarking on quests across the countryside in search of deeper enlightenment, vowing to, one day, become Closer to the Stars.

Bonus: New weapon types

Few new weapon type ideas, for a total of 18 ground weapons:

• Spear: Main-hand pole weapon, melee and thrown. Inspired by the Krait Nimross NPCs, Paragon NPCs and the original GW1 Spear weapon.
• Knuckles: One-handed fist weapon, melee. Inspired by the Boxing Gloves Toy, the Brawling Enchanted Armor Challenge, and the original GW1 Dwarven Brawling minigame.
• Bow: The Longbow and the Shortbow have been merged back into one single weapon type. The ranger is the only profession who can use both weapons, so his shortbow skills will be transformed into rifle skills as a compensation for the loss.
• Polearm: Two-handed pole weapon, melee. Includes greataxes, scythes, halberds, longspears, and more. Inspired by the Executioner Axe Toy, the unimplemented GW2 Polearm weapon, and the original GW1 Scythe weapon.

As part of a new player experience, each core profession would unlock some of the old and new weapon types for free, without any elite specialization requirements:

• Elementalist: Greatsword, Polearm.
• Mesmer: Pistol (main-hand), Warhorn.
• Necromancer: Axe (off-hand), Polearm.
• Engineer: Scepter, Knuckles (main-hand and off-hand), Focus.
• Ranger: Spear.
• Thief: Spear, Knuckles (main-hand and off-hand).
• Guardian: Spear.
• Revenant: Axe (main-hand), Mace (off-hand), Knuckles (main-hand and off-hand).
• Warrior: Polearm.

Further unlocks would become possible through either new elite specializations or additional updates to the core professions. Note that this section is independent from the new elite specialization ideas.
Had these gathering dust for quite a while now, figured I'd rewrite and post them.
Hope you liked the read!
EDIT: Same thread at the official forums.
UPDATE: 23/01/2021

Warning: long rambling stories ahead. I am bored and waiting to get through my first day back at work since before Christmas. You've been warned!
I've been going to the casino pretty regularly for the past few years. Before that, I played occasionally. I exclusively play slots. I view it as a night out - first with friends back when I brought $50 and played penny denom minimum bet spins and prayed to win $20, and then eventually shifting my mindset to playing higher bets and denominations. I hit my first jackpot handpay a couple of years ago. I hit $3700 on a $27 bet on a Geisha machine. I've hit a few other jackpots here and there, culminating with my biggest jackpot ever this past summer. I hit $12K on a $50 bet on a Pompeii slot machine.
Well, the long story short is that I have fallen out of love with gambling. I have somehow managed to have a positive ROI on gambling. I track my withdrawls and win on a spreadsheet. To put it bluntly: I have been extremely lucky over the past few years. I know that slots are not a viable way to win money in the long run, so I made a decision a few months ago to "retire" from gambling at the end of 2020.
I went to my local casino last Wednesday. It just so happens when I hit a jackpot that I usually do it within the first half hour or so I'm at the casino. Well, it happened again. After going up $600 or so on another slot machine (I don't remember the name), I went to one of my most hated/favorite old school slots - Zeus dollar denomination. One of my worst moments in all of gambling was a few years ago. I got a bonus round on the Zeus dollar denomination on max bet of $45 a spin. I was BEYOND excited. I've seen Youtube videos where people have won tens of thousands of dollars in that exact scenario. Much to my shock, I won nothing. In that game, you don't win anything for triggering the bonus. So I actually *lost* $45 on getting the bonus. I cashed out and left immediately.
Anyway, last week I hit a modest $4500. It was exciting...but not as exciting as I thought it should be. I was cool, calm, and...detached. The wins didn't mean much to me, and the losses mean absolutely nothing. My wife and I are in the EXTREMELY fortunate position that losing $500 or so every week or two at the casino is affordable. I'm not ignorant to how lucky we are to be in this position.
After getting paid out, I played a bit longer. But that hand pay drove home the realization that I had a few months ago: it was time to stop gambling. If I can't get pumped about a big win like that, and if I'm not even phased a little bit by losing, it's just not worth gambling any more. I used to go for entertainment, but even now gambling doesn't provide that much.
As I sit now, I am up roughly $18K over three years of slots. Not bad, but not life changing. Enough that I bought my wife a Burberry and Louis Vuitton handbag on separate occasions. The rest if stashed in savings or in an investment account somewhere. But I am 100% committed to being done. At least for 2021, and probably longer.
If anyone is interested in hearing my thoughts on how to win...I don't have any insight to share. It's luck. I got lucky. I know I got lucky. The usual tropes about setting win and loss thresholds is good advice. Sometimes I chased payouts and hit them. Sometimes I chased and lost. But I managed to hit more than miss, and for that I'm lucky. And thankful.
Anyway. I don't have a major takeaway or anything. I don't have many people I can talk about this with in my personal life, so I figured I'd share a bit of my story here.
If you do gamble, please do so responsibly. Good luck, and try to have fun. If you're not having fun, it's probably not the right way to spend your time or money.
EDIT:
I just wanted to say to anyone who reads this in the future that I appreciate the nice responses and PMs from people. It's nice to share a positive experience with others! I sincerely hope that if any of you choose to play in the future, you choose to do so responsibly. Gambling can be a hugely problematic lifestyle for some people. Stay safe. (end of preaching here).
I also want to take a second to address some comments from some people about slots being skill based. This is 100% false. The concept of slots being skill based in any way is demonstrably untrue with three seconds of reasonable thinking. If we accept that there is a hypothetical slot game which is based on skill and not pure luck, what are the consequences of that? First of all, this information would leak out. There would be no way to contain it. If one person can solve the system, another an as well. Subsequently, someone would write a book on the subject. Think about all the poker and blackjack strategy books out there. These are games where skillful play can increase your odds of winning. Last I checked, there aren't any books or Supersytem-level analyses from prominent individuals willing to stake their names and reputations on publishing a "slot technique" book. There's a reason for this. And also - think about this: casinos still carry blackjack tables for a reason: they still have an edge to win. If there is a surefire way for individuals to win when playing slots, casinos would 100% for sure take these games out of circulation. Casinos are not in the business of giving away money. Any claim there is a foolproof way to win money playing slots does not make sense when critical thinking is applied to the circumstances.
Slots are not like card games. Finding and playing only games where there is a "must win by" progressive is not the same thing as skillful play. That's more akin to something like card counting in blackjack. Many people who design slot machines and engineer the software behind the scenes have posted on Reddit and elsewhere that wins are based on random number generators running behind every spin. There is literally no skill involved - you win or lose each spin based on pure random luck.
I am saying this because there are a number of people who come to this subreddit to look for ways to cheat the system and get easy money. I see posts like this fairly often, and I'm only browsing this subreddit occasionally. Gambling is not, and should not, be a way for anyone looking to make a quick buck. If you're looking to get an edge playing slots because you need to pay bills or make a quick buck, you are already in serious trouble. Do not buy into the delusion that you can get an edge or guarantee a win. People saying this are snake oil salesmen who do not care for you or your well-being.
Anyway. I'm going to stop monitoring this post. I'm still open to receiving PMs or messages, but I've had my fun with this so far. I could do with fewer trolls, but this is the internet. I knew what to expect. Bon chance, everyone!

Hello everyone! I have only been on Reddit for a few months but I learned so much from it that I figured I should try and give back to the community. English is my second language and this is the first time I ever write a full-length article, I hope you will enjoy reading it and I would be very thankful if you could provide some feedback about my writing, about the topic, or about anything else really… So here goes!
​
Why you should learn poker and game theory:
My story is similar to that of many: I learned about the game 10 years ago (during the golden age of online poker) when some friends of mine invited me to play a home game. Although I initially thought of poker as just another game of chance akin to playing slots or roulette in a casino, I quickly came to realize that there is a lot more to it as my more experienced friends would repeatedly get the best of me during these home games, which led me to start watching videos and reading strategy books to improve my skill… Little did I know it’d be the start of a journey that would impact many different aspects of my life way beyond the game itself, as most of the fundamental principles learned through poker can be applied to your decision-making outside of the game, especially when it comes to money management and investing. Now, let’s dive into a few of these principles:
​
- Risk management (i.e. Bankroll management)
When learning about how to be successful playing poker, the first big piece of advice most people come across is bankroll management or BRM. To understand BRM, you must first realize that poker has a lot of variance: you might be vastly ahead in a given hand but there is almost always a slim chance that you will lose in the end if one specific card hits. This implies that you will sometimes lose even though you were a 99% favorite, and that you will sometimes get unlucky and lose 2, 5 or maybe even 20 such encounters in a row. THIS is variance. It doesn’t mean that you played bad or that you made bad decisions, but rather that you got unlucky. Over time you will have lucky streaks and unlucky streaks, and these will average out in the long term… It’s just the way the game goes.
Now that we understand variance, let’s get back to BRM. What is it exactly? Let’s say you are the best poker player in the world but you only have 1000$ that you can EVER use to play with. Taking your whole 1000$ on one table and multiplying your stack at an exponential rate might seem like a good idea. Surely nothing can go wrong since you’re the best player in the world right? But variance can be a bitch ;) Even if you’re the best you will lose regularly and you will sometimes get unlucky, it’s just part of the game. The correct move here is to apply BRM, which means only using a small % of your available capital for each game you play in order to reduce the risk of going broke. Using only 100$ per game would already be a lot safer, but you still run the risk of going under on a streak of bad luck. If you only allocate 10$ per game you play, then it becomes virtually impossible for you to ever go broke, even on a huge streak of bad luck. Sure it’s not as exciting and you won’t be making money quite as fast as you could, but this is the way to go to make sure you don’t go broke…
This approach to risk management translates very well to investing:
- Only invest what you can afford to lose. Once the money is on the table it’s as good as gone, which is why you should only use your “spare” cash and never invest with your living expenses or worse, borrow money to invest.
- Diversify your investments. There is always a chance, however slim it might be, that you will lose most of your investment. This is why going all-in on a specific investment is generally a bad idea (this applies particularly well in the crypto space).
Proper BRM allows you to make sure that you will come out ahead in the long run if you play well, which basically comes down to making more good decisions than bad ones. But that’s assuming you don’t let emotions come in the way of your decision-making, which brings us to our next point…
​
- Emotional management (i.e. Handling tilt/Positive mindset)
Nobody likes losing… In the same way we enjoy winning because of the dopamine rush, we feel bad when we lose which is totally natural. Overcoming this and avoiding tilt (irrational decisions made out of angefrustration) is an essential skill for any successful poker player. You might play a sound game of poker and apply good BRM, but you will still lose if you let your emotions get the best of you.
After a loss, rather than being angry and frustrated, you should evaluate your decision-making. If your decision-making was good, you just got unlucky and you shouldn’t worry about it since you are playing for the long run (remember that variance teaches us that anything can happen in the short-term). If your decision-making was bad, you need to learn from your mistakes and move on. The key here is to always have a positive mindset: making mistakes is part of the learning process and should be seen as an occasion to improve. Being angry and ranting, on the other hand, rarely result in anything positive.
Again, this translates very well to investing:
- Don’t be impulsive, don’t let your emotions cloud your judgment. You should not FOMO because the price is pumping, nor should you sell because of FUD or price corrections. If you believe in a project, short-term price changes (did I hear someone say “variance”?) shouldn’t bother you.
- Don’t get stuck up on losses. You bought the top and it crashed immediately after? You sold the bottom right before a huge rally? Don’t let this bother you: what’s done is done and you just need to move on and make the best of your current situation.
- Have a positive mindset. Anger and frustration lead to nothing. Yes you could have bought in 2009 when you first heard about it, hindsight is always 20/20. Stay positive and keep learning/improving yourself.
The good thing about all this is that it goes way beyond poker or investing. Being aware of your emotions and how they affect you, learning how to handle losing even when you were “supposed” to win, etc… All this can tremendously help you in all aspects of life by making you less impulsive and more rational in your decision-making. Now, this leaves us with our last fundamental principle of a sound poker strategy:
​
- Basic stats and probabilities (i.e. Expected value/Odds)
To become an accomplished player, you will inevitably have to learn about these simple mathematical tools that poker players use all the time in their decision-making process, such as odds and expected value. To make it very simple, the expected value (EV) of any bet is (REWARD \ WinRate - RISK), meaning that if you can bet 1000$ with a chance to win 10k$ half of the time, your EV is *(10000\0.5)-1000 = +4000$**. Obviously these are great odds to take as long as you have enough capital to overcome variance. But things would be very different if the odds of winning were only 5% as your EV would then be negative *(10000\0.05)-1000 = -500$.*** Now this is clearly a bet you should not take…
Now that you know probabilities, statistics and game theory are useful decision-making tools in poker, guess what? They are also extremely useful in investing! Even better, the study of game theory with problems such as the “Byzantine generals” or the “Three prisoners” has been, along with cryptography, the foundation on which blockchain technology was built, enabling the trustless and decentralized services that are about to revolutionize our world…
Assuming this was enough to pique your interest and make you want to dig deeper, I’ll just add that just like the other topics we discussed and as you might have guessed, this translates very well to investing and also to pretty much anything in your life:
- Learn how to break down complex situations. Logical thinking paired with a statistical approach will help you break down any complex problem into several easier problems, making the whole thing a lot easier to approach/comprehend.
- Base your decisions on a methodical and rational approach. List every possible outcome along with its associated upside/downside, estimate the probability of each outcome to occur and make the best decision based on the information available.
My point here is that risk management, emotional management and statistics/game theory are all awesome tools that you should definitely add to your arsenal. Not only will it improve your money-management and investing, it will also be beneficial to your decision-making and to your life in general. Of course poker is not the only way to learn about these, but I personally found it to be the best practice ground to refine and improve them, which is why I strongly encourage you all to try it out and study the game.
I hope you enjoyed the article, and I wish you all a happy 2021 bull run! May we all come closer to retirement and financial independence!
​
TL;DR: more than a game, poker is a school of thought. It teaches you to be reasonable, to assess the risk of every single choice you make, to overcome you emotions, to play the long game rather than the short game, to make informed decisions, etc… This has made me a lot wiser in every aspect of my life, which is why I strongly encourage to try it out and read about poker strategy.
Edit: I couldn't crosspost from cc so I just copied the post as I figured it is relevant here too :)

EVRI: The True Autists Gambling Ticker
Alright dipshits, I believe I have found a ticker that has huge growth potential over the next few months that is under the radar of many. So prepare your smooth brains and tell your wife's boyfriend to leave the room so you can jerk off to these potential gains.
EVRI is Everi Holdings Inc. Don’t know what that is? They’re only “the casino industry’s only single source provider of robust payments solutions, vital intelligence offerings, and engaging gaming machines that power the casino floor” according to Casino Vendors
(Source: http://www.casinovendors.com/vendoeveri-holdings-inc/)
Now if that doesn’t make your wife’s boyfriend cream his jeans, then the following information might just make your dick hard enough to satisfy your displeasured wife. I think that EVRI could see huge growth for the following reasons
EVRI has the versatility both online and on the floor for casinos
Taking a look at this source (http://www.casinovendors.com/vendoeveri-holdings-inc/) you can see that there products and services include…

1. Gaming equipment and supplies: “Everi Games feature exciting original concepts, dynamic artwork, and thrilling game play that are designed to stop patrons in their tracks. Players seek out Everi’s award-winning games, cabinets, and toppers, and stream into casinos to play TournEvent® and TournEvent of Champions®”
2. Cash/Chips/Money/Money Handling Equipment: “CashClub® gives operators an easy-to-use single dashboard interface that streamlines check warranties and credit/debit card transaction processing. The software’s enhanced features include electronic signature capture and dynamic currency conversion. CashClub interfaces with Everi Compliance, which helps casinos meet Title 31 requirements. CashClub works with a casino operator’s existing cage workstation equipment, removing the need for a separate stand-alone terminal.”

“CentralCredit™ - The industry’s leading repository for casino-related credit data and reporting. QuikMarketing™ - This tool lays the foundation for highly targeted, cost-effective, and successful direct marketing campaigns.”
and… “Intuitive, flexible & designed Kiosks to provide a premium experience to patrons.”

1. Administration and Finance: “Everi Compliance™ has new and innovative compliance products expanding our ability to service patrons and casino customers. Our compliance products are the gold standard for Anti-Money Laundering (AML) compliance across the gaming industry, which allows operators to easily meet Title 31 regulatory requirements.”

To see even more versatility and see what more specific services they provide, click this link https://finance.yahoo.com/quote/EVRI/profile?p=EVRI
Based off of these services alone, any one of you extra-chromosomes gamblers can see why EVRI is able to make money both online and on the floor, physical casinos. They make online gambling games, provide systems to protect casinos, design on the floor games, have products to transfer money in and out of debit/credit cards at the casino to feed the gambler, and even have business in reporting casino data and marketing campaigns. IF THIS ISN'T A COMPANY THAT DOESN'T DO EVERYTHING THEN IDK WHAT TO TELL YOUR SMOOTH BRAIN. They are immune to COVID and can be profitable with/without it.
EVRI has great target prices from analysts and even has potential news coming up that can propel us Valhalla
https://www.casino.org/news/everi-soars-on-digital-wallet-deal-with-winstar-casino/
“But Roth Capital analyst David Bain previously said two agreements with tribal operators notched by Everi account for 15 percent of the company’s fintech business and were going overlooked by investors.” This made the price target shift from $20 to $21 for this guy.
This same article said this about David Bain as well “Today’s surge by Everi stock may not be a one-off event. Bain, the Roth Capital analyst, says another customer will roll out CashClub Wallet in the coming weeks. He didn’t identify that operator, but he did say it’s one of the largest casino firms in the world. The analyst adds that on a standalone basis, Everi’s fintech basis is worth $16 a share. When accounting for peer average multiples on gaming device suppliers, the stock could trade near $29, or more than double where it resides today.”
I know some you have a hard time reading, but that means we could see news of EVRI’s own product (CashClub) be announced to be integrated in one of the largest casinos companies in the world. If that doesn’t scream PUMP, I don't know what does
EVRI also has fantastic news of expanding, incorporating, and even being recognized as the best in their field
Refer to this link on EVRI’s website with their Investors Information. You can scroll for minutes and find positive information everywhere including but not limited to.
Everi Wins Best Slot Product and Best Consumer-Service Technology Awards for Second Consecutive Year from Global Gaming Business
Everi Highlights Roadmap for Cashless Gaming Industry Leadership
Golden Nugget Celebrates Its #777th Game on the Seventh Anniversary of nj-casino.goldennuggetcasino.com with the Launch of a Unique Custom Game Designed By Everi
Everi’s CashClub Wallet™ Launches at WinStar World Casino and Resort
Everi Digital Expands Relationship with Parx Casino, Delivering Additional Player-Preferred Slot Content for Online Real-Money Play in New Jersey
EVRI’s option chain are cheap for long dated calls
Because I am writing this after hours, the options chain will most likely change come market open, but keep in mind, they will still be cheap.
Looking at January 20c and March 22.5c, they are .18 with a .05-.3 bid/spread and .2-.25.
Yeah yeah yeah, I know what you’re thinking “oH tHE BiD aSK SpREad is TOO wIdE”. But if you guys seriously think the bid/ask spread is what has limited your autistic trades up to this point, then you’re just lying to yourself. Get your order filled, because were making fucking tendies.
THE MEME POTENTIAL OF THIS STOCK IS PERFECT FOR US RETARDS
Is there anything that is more ironic than a bunch of degenerate gamblers gambling on a gambling company that is so revered in the gambling industry that it’s not even a gamble? FUCK NO THERE’S NOT.
WE ARE MADE FOR THIS TICKER, AND AS AUTISTS AND GAMBLERS WE NEED THIS PLAY. As many of you know, once a ticker catches fire in this sub it gets HUGE coverage. Look for yourselves at the countless memes and videos of WSB getting coverage on Cramers shows and news outlets. MEMES MEAN MORE ADVERTISING, MEANS MORE PUMPS, MEANS MORE TENDIES, WHICH MEANS MORE MONEY FOR DICK PUMPS.
I rest my case.
TLDR; EVRi is a fucking powerhouse in the online/in-person gambling/casino world. They have lots of news going for them along with having cheap calls, a well run business with great price targets, good price action movement, and most importantly infinite meme potential
POSITIONS:
20 Contracts of Jan/15/2021 20c
15 Contracts of Ma19/2021 22.5c

TL:DR

• This is Part 1 of my two part deep dive on DraftKings (Ticker: DKNG, I will refer to the company as “DK”)
• This first part introduces you to (1) me, (2) the company, (3) my thesis on the company, and (4) digs into how they make money.
• The second part (already released, you can read it here - but get through part 1 first :) ) will go in depth to explore the question “Can we 10x from here?”
• DK is an exciting, disruptive company working to change how we experience watching sports and make it better.
• I am not a financial advisor and this is not investment advice. These are just my opinions to help facilitate learning and discussion.

Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:

1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.

As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

TL:DR

• This is Part 1 of my two part deep dive on DraftKings (Ticker: DKNG, I will refer to the company as “DK”)
• This first part introduces you to (1) me, (2) the company, (3) my thesis on the company, and (4) digs into how they make money.
• The second part (to be released later this week) will go in depth to explore the question “Can we 10x from here?”
• DK is an exciting, disruptive company working to change how we experience watching sports and make it better.
• I am not a financial advisor and this is not investment advice. These are just my opinions to help facilitate learning and discussion.

Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:
​

1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.

As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

This whole month I been calculating how much of my check I can use to play slots or blackjack . I been so tempted , I wanted to spend both my checks which is about 12k at the casino to see if I can double it and pay more bills . Well guess what I had that same thought before 2020 ended and instead of having more money to pay bills , I had zero dollars . I did what a responsible person would do is pay off my debt which equates to be about 65k , but obviously I don’t have all the money but slowly chipping the debt away is better than digging myself further . Part of the reason what made me rather spend it at the casino than paying debt bc I felt like I want to have some money left over instead of working so hard for this and having to give it all away to the creditors , and casinos just seem like I have a chance at making more money with my money . But due to my track record , we all know what will happen , I’ll win , but then I won’t leave until every last penny is returned back to the casino . I used one of the checks to pay off this 8k credit card I had for 2 years now . That’s 150 dollars in interest monthly . And I have at least 6 of those cards out of 8 that has that kind of balance and interests . Basically my interests amounts to about close to 1,000 dollars among all the cards I have not paid for . That doesn’t include the monthly bills I have such as rent , car , insurance , school which is another 2k. So basically if I stick to paying off my debt I can be free by nov 2021 or I can risk my money at the casino and be in debt by 2023. Anyways I’m glad I paid off one of my cards yesterday , it hurts to see all my dollars went to bills but at least that’s one credit card behind my rear view !!

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Overview: This is my second installment of my memories of cruising. I am doing this for my own sanity and to remind everyone of our positive times in the past and what the future might bring. During these troubling times with politics and a global pandemic, focusing on something we all consider to be positive is good therapy. Add in your comments of how or what you would do on your day-two when cruising. Lets have some fun with this and leave our negativity out. Try just to have fun in our thoughts.
Disclaimer: I am retired 63, a stroke victim yet healthy now, gone on 24 cruises, and spoiled to the core. My reference to the NCL Haven™ is not meant to show what I can afford or I am better than anyone else. It is just my personal favorite experiences. Truth be told, my best cruise was my first. That was 40 years ago, in the cheapest inside cabin on the SS Norway. It was my honeymoon and it was magical. My next cruise in the end of May 2021, will be my 41st wedding anniversary on the same cruise line, now called NCL with my Adult Children. A full circle over 40 + Years.
Day 2: Cruise Memories
06:45 AM: I just can’t sleep in today, just can’t. Shower and in-suite coffee on the balcony. All you can see and hear are lovely waves. This is what I have been waiting for all year.
07:30 AM: First Breakfast in the Haven Restaurant. We start with French Press Coffee, of course. Appetizer of smoked salmon from the side fresh buffet, those danishes are calling my name though. With a huge smile, I order my favorite Breakfast, Steak & Over Easy Eggs skip the potato’s. Whole wheat toast with grape jelly. At the end, I always get one single danish. I am trying to not gain my normal 10+ lbs. from this cruise. I am quite clear in my own mind, I will fail.
09:00 AM: Explore the ship. Even after 24 cruises, going deck to deck is so much fun for me. People are just getting up. Still easy to get an elevator and no real crowds in the main walkways. Important to me to find the cigar bar for later enjoyment and there it is next to the Mojito Bar. Also, where is the slot tournament to be held at 01:00 PM, priorities folks. Where is the gym and finally where all the hot tubs on board.
10:30 AM: Gym. 30-minutes on the treadmill. Attempt to allow a bit of those food calories to get used. I know by day three, the exercise will be doomed. All I can think about is going down those huge water slides and driving the electric go carts. My hope is the lines are not to long. On my way back to my suite, I hear that wonderful sound of metal drums by the main pool. The smile begins to become a part of my day, as it always does on past cruises. Entering my suite, my family asks where I have been. I tell them and they are disappointed I did not take them with me. What I see is none of them have even gotten out of bed yet.
12:00 PM: Lunch by the Haven Pool another favorite pastime. Time for the best cheese burger on any cruise ship. No bun, of course. Really, no bun. French Fries YES, bun no? My wife orders a bottle of wine and takes half of it goes back to the room. God love that upgrade to the Premium Plus Drink Package. My wife loves ordering a bottle vs. a glass. It is a vacation isn’t it. This was her plan and I support it. She loves wine in the suite for night time balcony viewing.
01:00 PM: Slot Tournament, my entire family is entered, it is a tradition. We learned to have a few drinks first, because it is so stressful. We always play and never win. This year, my wife whom never gambles makes it to round two. We are so proud of her and consider that a victory. Since I am in the casino anyway, where is that “Buffalo Gold” machine. I feel the cash leaving my wallet forever. Why do I watch those YouTube Slot Guru’s. They are not good for my pocketbook.
02:30 PM: A littler poorer yet still happy, I get ready for my first water slide experience. Every cruise I do the same thing. I find someone whom is a afraid to do the water slide, and talk them into doing it with me. My record for number of consecutive slides is 10. The issue are those darn stairs, I am no spring chicken anymore. All the kids think I am funny because I am as excited as they are to slide. My last victim was my wife who became a huge fan.
04:00 PM: Did I hear “BINGO” or was it “Deal or No Deal”. It is like a magnet for me. The crowds, the joy of watching someone WIN. I debate myself. Do I start drinking NOW or hold off until right before dinner. Hold off today, smart move. I go back to the suite through the casino watching a older woman (that is saying a lot, I am 63) get a jackpot on the machine that took all my money earlier. Happy for her though, kind of.
05:30 PM: There are some ship snacks waiting on the table in the suite, which is always different every day. Today it is those world famous chocolate covered strawberries. Time to clean up and dress for dinner and the show. My wife as usually, is looking at the sun burn she got sitting on the deck and saying, “I think I over did it a bit.” I notice she is in a very happy mood and the bottle of wine in the room is out. I ask her when she started drinking? She smiles and tells me, 12:00 PM, at lunch. Stupid question on my part. I am the light weight in my family on drinking. However, when I get serious, I am serious. Pre-Dinner drinks on the balcony, it is so lovely.
07:00 PM: Dinner tonight is a specialty restaurant. My habit is to go to the steak place the first night. Martini shaken not stirred, slightly dirty with two blue cheese stuffed olives. Shrimp cocktail, Fresh Bread with really good butter, Blue Cheese Wedge and a Rib Eye Medium Rare Plus. I am so full, I simply can’t eat all the fully loaded potato. Maybe a few bits. I have to sit for a while and have some Coffee with Baileys. I am feeling no pain and starting to relax a bit. New York Cheese cake is the finale. “There is cheating and then there is Cheese Cake!”
09:30 PM: I know I am tired because I would usually be in bed by now. The food, drink and excitement of the day is telling my body, pass on the show. I used to listen to myself, not anymore. I will get my second wind shortly and so will you. The show which on the first night is usually a production. We always sit in the last row on the end by the door. We have seen some fantastic and not so fantastic shows. We are not expecting much. Then the music starts and it is all Latin dancing. 90-minutes has never go so quick. This show was incredible. My wife for the first time was on her feet doing a standing ovation.
11:00 PM: This is when my wife and I start to argue. She wants to party some more, I want to chill in the room. Translation, go to sleep. I know her, the moment she hits the pillow, with the sun she got that day, add the food and drink, that is all she wrote. We get to the suite, on the desk are the passes for the excursion we are taking in the morning, I love that. Never gets old. I, just want to dream again about my next day’s breakfast of Steak and Eggs. Tomorrow I add a waffle I thing. We attempt to look at the agenda for the next day however never make it more then 10-minutes before the waves put us to sleep.
Perfect second day in my book.

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Alright dipshits, I believe I have found a ticker that has huge growth potential over the next few months that is under the radar of many. So prepare your smooth brains and tell your wife's boyfriend to leave the room so you can jerk off to these potential gains.
EVRI is Everi Holdings Inc. Don’t know what that is? They’re only “the casino industry’s only single source provider of robust payments solutions, vital intelligence offerings, and engaging gaming machines that power the casino floor” according to Casino Vendors
(Source: http://www.casinovendors.com/vendoeveri-holdings-inc/)
Now if that doesn’t make your wife’s boyfriend cream his jeans, then the following information might just make your dick hard enough to satisfy your displeasured wife. I think that EVRI could see huge growth for the following reasons
EVRI has the versatility both online and on the floor for casinos
Taking a look at this source (http://www.casinovendors.com/vendoeveri-holdings-inc/) you can see that there products and services include…

1. Gaming equipment and supplies: “Everi Games feature exciting original concepts, dynamic artwork, and thrilling game play that are designed to stop patrons in their tracks. Players seek out Everi’s award-winning games, cabinets, and toppers, and stream into casinos to play TournEvent® and TournEvent of Champions®”
2. Cash/Chips/Money/Money Handling Equipment: “CashClub® gives operators an easy-to-use single dashboard interface that streamlines check warranties and credit/debit card transaction processing. The software’s enhanced features include electronic signature capture and dynamic currency conversion. CashClub interfaces with Everi Compliance, which helps casinos meet Title 31 requirements. CashClub works with a casino operator’s existing cage workstation equipment, removing the need for a separate stand-alone terminal.”

“CentralCredit™ - The industry’s leading repository for casino-related credit data and reporting. QuikMarketing™ - This tool lays the foundation for highly targeted, cost-effective, and successful direct marketing campaigns.”
and… “Intuitive, flexible & designed Kiosks to provide a premium experience to patrons.”

1. Administration and Finance: “Everi Compliance™ has new and innovative compliance products expanding our ability to service patrons and casino customers. Our compliance products are the gold standard for Anti-Money Laundering (AML) compliance across the gaming industry, which allows operators to easily meet Title 31 regulatory requirements.”

To see even more versatility and see what more specific services they provide, click this link https://finance.yahoo.com/quote/EVRI/profile?p=EVRI
Based off of these services alone, any one of you extra-chromosomes gamblers can see why EVRI is able to make money both online and on the floor, physical casinos. They make online gambling games, provide systems to protect casinos, design on the floor games, have products to transfer money in and out of debit/credit cards at the casino to feed the gambler, and even have business in reporting casino data and marketing campaigns. IF THIS ISN'T A COMPANY THAT DOESN'T DO EVERYTHING THEN IDK WHAT TO TELL YOUR SMOOTH BRAIN. They are immune to COVID and can be profitable with/without it.
EVRI has great target prices from analysts and even has potential news coming up that can propel us Valhalla
https://www.casino.org/news/everi-soars-on-digital-wallet-deal-with-winstar-casino/
“But Roth Capital analyst David Bain previously said two agreements with tribal operators notched by Everi account for 15 percent of the company’s fintech business and were going overlooked by investors.” This made the price target shift from $20 to $21 for this guy.
This same article said this about David Bain as well “Today’s surge by Everi stock may not be a one-off event. Bain, the Roth Capital analyst, says another customer will roll out CashClub Wallet in the coming weeks. He didn’t identify that operator, but he did say it’s one of the largest casino firms in the world. The analyst adds that on a standalone basis, Everi’s fintech basis is worth $16 a share. When accounting for peer average multiples on gaming device suppliers, the stock could trade near $29, or more than double where it resides today.”
I know some you have a hard time reading, but that means we could see news of EVRI’s own product (CashClub) be announced to be integrated in one of the largest casinos companies in the world. If that doesn’t scream PUMP, I don't know what does
EVRI also has fantastic news of expanding, incorporating, and even being recognized as the best in their field
Refer to this link on EVRI’s website with their Investors Information. You can scroll for minutes and find positive information everywhere including but not limited to.
Everi Wins Best Slot Product and Best Consumer-Service Technology Awards for Second Consecutive Year from Global Gaming Business
Everi Highlights Roadmap for Cashless Gaming Industry Leadership
Golden Nugget Celebrates Its #777th Game on the Seventh Anniversary of nj-casino.goldennuggetcasino.com with the Launch of a Unique Custom Game Designed By Everi
Everi’s CashClub Wallet™ Launches at WinStar World Casino and Resort
Everi Digital Expands Relationship with Parx Casino, Delivering Additional Player-Preferred Slot Content for Online Real-Money Play in New Jersey
EVRI’s option chain are cheap for long dated calls
Because I am writing this after hours, the options chain will most likely change come market open, but keep in mind, they will still be cheap.
Looking at January 20c and March 22.5c, they are .18 with a .05-.3 bid/spread and .2-.25.
Yeah yeah yeah, I know what you’re thinking “oH tHE BiD aSK SpREad is TOO wIdE”. But if you guys seriously think the bid/ask spread is what has limited your autistic trades up to this point, then you’re just lying to yourself. Get your order filled, because were making fucking tendies.
THE MEME POTENTIAL OF THIS STOCK IS PERFECT FOR US RETARDS
Is there anything that is more ironic than a bunch of degenerate gamblers gambling on a gambling company that is so revered in the gambling industry that it’s not even a gamble? FUCK NO THERE’S NOT.
WE ARE MADE FOR THIS TICKER, AND AS AUTISTS AND GAMBLERS WE NEED THIS PLAY. As many of you know, once a ticker catches fire in this sub it gets HUGE coverage. Look for yourselves at the countless memes and videos of WSB getting coverage on Cramers shows and news outlets. MEMES MEAN MORE ADVERTISING, MEANS MORE PUMPS, MEANS MORE TENDIES, WHICH MEANS MORE MONEY FOR DICK PUMPS.
I rest my case.
TLDR; EVRi is a fucking powerhouse in the online/in-person gambling/casino world. They have lots of news going for them along with having cheap calls, a well run business with great price targets, good price action movement, and most importantly infinite meme potential
POSITIONS:
20 Contracts of Jan/15/2021 20c
15 Contracts of Ma19/2021 22.5c

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2. To qualify, during the promotional period (outlined in term 14) you will be rewarded with 10 x free spins each time you stake £25 on Dolphin's Pearl Deluxe. This can be achieved a maximum of 5 times, meaning the maximum amount of free spins that will be rewarded per customer is 50.
3. For example, if you staked £25 on the slot game stipulated in term 15 between 00:01 01/02/2021 until 23:59 on 04/02/2021, you would be rewarded with 10 x free spins.
4. Depending on the amount that you stake during the promotional period (minimum of £25 to qualify for minimum amount of 10 x free spins) your free spins will be redeemable on the following slot game: Dolphin's Pearl Deluxe.
5. Free spins will be credited within 24 hours of the promotion end time, and customers will be notified by email and/or an onsite banner depending on the customers marketing preference.
6. One free spins reward will be credited per qualifying customer (minimum of 10 x free spins per customer, maximum of 50 x free spins per customer).
7. Gambling is for entertainment, please play responsibly. You are encouraged not to stake beyond your usual limits in order to chase additional free spin rewards.
8. To claim your free spins, you will need to launch the slot game outlined in term 17.
9. Once you have launched the slot game outlined in term 17, you will then be given the option to either ‘’accept’’ or ‘’decline’’ the free spins. Your free spins can only be accepted on the slot game outlined in term 17.
10. Once the free spins have been accepted on a specific game, they will be non-transferable.
11. Additional free spins must be accepted within 24 hours of them being credited. Once accepted, the free spins must be used within 3 days.
12. Free spins will be set to the maximum amount of win lines, meaning each free spin will hold an individual value of 10p.
13. Any winnings accumulated from your free spins will be credited as a reward which will hold x1 wagering requirements.
14. Any amounts stated in Pound Sterling will have equal value in Euros unless otherwise stated.
15. In the event that you already have an active reward on your account, your free spin reward will be queued whilst prior rewards are either converted to cash, expire or are forfeited.
16. This free spin reward will queue for a maximum of 3 days before it expires. Once expired, any rewards associated with this offer will be forfeited.
17. Once your reward is active (i.e. not queued whilst prior rewards are either converted to cash, expire or are forfeited), it will expire after 24 hours and any unconverted rewards associated with this promotion will be forfeited after this time.

Wagering Requirements

1. Rewards are non-playable and will convert to cash as you progress through the wagering requirements.
2. The wagering requirement for this promotion is x1. For example: If you have a £6 reward, you will need to wager £6 to convert your reward to cash.
3. If your reward is greater than £10, it will convert to cash in increments of £10. For example: If you have a £16 reward, wagering £10 will convert £10 of the reward to cash, leaving you with £6. Then wagering a further £6 will convert the remaining £6 to cash.
4. Not all games contribute towards the wagering requirement at the same rate. Below is an illustration of the contribution across all game types: Slots* (unless stated otherwise) - 100% contribution *The following slot games will contribute 50% towards the wagering requirements: Black Knight, Cash Stax™, Dr. Jekyll Goes Wild, Hercules™ High & Mighty, Jack Hammer 2™: Fishy Business, Mighty Black Knight, Monopoly On the Money, Pearl of the Caribbean, Rainbow Riches Drops of Gold, Rainbow Riches Fortune Favours™, Rainbow Riches Home Sweet Home, Rainbow Riches Leprechaun's Gold, Rainbow Riches Pick 'n' Mix, Rainbow Riches Reels of Gold, Red Hot Wild and Wild West. Scratchcard & Arcade - 100% contribution Roulette games (including Live Casino) - 20% contribution (For example, every £1 staked will contribute £0.20 (20%) towards the wagering requirement). Poker Variants & Dice games (All Live Casino & RNG) - 20% contribution. Live Game Show games - 20% contribution. Blackjack, Baccarat & Video Poker (All Live Casino & RNG) - 10% contribution.
   
5. Your wagering progression will be clearly demonstrated within your reward page whilst the reward is active. This will also indicate how much wagering is required to convert each £10 increment to cash.