Objective

In craps, the player bets on whether the dice roll will result in a win or loss.

Rules

Craps is played with two dice. Poker chips are used to place bets.

The Shooter and the Come Out Roll

The player rolling the dice is called the shooter. The “come out” roll is the shooter’s first roll.

Two (2) Bets Before the Come Out Roll

  1. Pass Line Bets – The Pass Line is an even money bet. When you make a “pass line” bet, you are betting the shooter WILL be successful. The results for the “pass line” “come out” rolls are as follows…

“Come Out” Roll ( First Roll )

Result

7 or 11 (“Natural”)

Player Wins

2, 3, or 12 (“Craps”)

Player Loses

4, 5, 6, 8, 9, or 10 (“Point”)

Player wins: if the shooter rolls the “point” number again before a 7.

Player loses: if a 7 is rolled before the “point” number.

For example, if the shooter’s “Come Out” roll is an eight that will become the Togel Singapore“point”, the shooter continues to roll until an eight or seven is rolled. A roll of eight wins, a roll of seven loses – called a “seven-out”. All intervening rolls are irrelevant to the “Pass Line” bet. Once either the seven or point has been rolled, the next roll becomes the new come out roll.

  1. Don’t Pass Line bets – The Don’t Pass Line is an even money bet. When you make a “don’t pass line” bet, you are betting that the shooter WILL NOT be successful. The opposite of a “pass line” bet except rolling a 12 ties (a “push”), when you make a “don’t pass” bet, if the come out roll is …

“Come Out” Roll ( First Roll )

Result

7 or 11 (“Natural”)

Player Loses

2, 3, or 12 (“Craps”)

Player Wins

12(“Push”)

Tie

 

You win after the first roll if the shooter rolls a seven before making his point. However, you lose if the shooter successfully make his point. For example, if the shooter’s “Come Out” roll is an eight, the shooter continues to roll until an eight or seven is rolled. A roll of eight loses, a roll of seven wins. All intervening rolls are irrelevant to the “don’t pass line” bet. Once either the seven or point has been rolled, the next roll becomes the new “Come Out” roll.

Eight (8) Bets after the Come Out Roll

If the shooter is winning, the dice are not passed on. The dice are only passed to the next player if the shooter sevens-out (rolls a seven) or decides not to continue rolling. In the Internet version of craps, the player loses if there is a seven-out and can end the game at any time provided there are no bets placed. Pass Line and Don’t Pass Line bets are made on the shooter’s “Come Out” roll. All other bets are placed after the come out, once a “point” has been determined, and work independent of the “pass line” and “don’t pass” bets.

 

  1. The Come Bet – Made any time after the initial “Come Out” roll when a shooter has a point to make, you win on the first roll of the come bet with a natural (7, 11) and lose on craps (2, 3, 12). Any other number that comes up is a come point. You win on a come bet if this number is rolled again before a 7.

 

  1. The Don’t Come Bet – Opposite of the come bet, except the 12 is a tie. Made any time after the initial “Come Out” roll when a shooter has a point to make, you lose on the first roll of the don’t come bet with a natural (7, 11) and win on craps (2, 3). Any other number that comes up is a come point. You lose on a don’t come bet if this number is rolled again before a 7.

 

  1. Odds Bet – You can accompany your Pass Line, Come, Don’t Pass, or Don’t Come bet with an additional bet called an “odds bet”. Once point has been established, the odds bet is popular because it pays “true odds” on your bet. True odds are based on comparing the chance of your number being rolled before the 7, are paid out accordingly. To illustrate, using the True Odds Chart, you can see that the 7’s chance of coming up is twice that of the 4. When you place an odds bet on the four, it will pay 2 to 1, the true odds.

 

Determining True Odds

The following chart will display the number of ways a 7 can be made, as opposed to the number of ways any other combination of pointscan be rolled at a given time.

An odds bet on the “pass line” and the “come” is called “taking odds”. The payouts on taking odds are

Points

True Odds

4 and 10

2 – 1

and 9

3 – 2

6 and 8

6 – 5

 

To take odds on your Pass Line bet, click the area below the Pass Line, lower left corner. To take odds on your Come bet, click the Come chips wagered.

An odds bet on the “don’t pass” and the “don’t come” is called “laying odds”. The payouts on laying odds are

Points

True Odds

4 and 10

1 – 2

5 and 9

2 – 3

6 and 8

5 – 6

 

To lay odds on your Don’t Pass and Don’t Come bets, click on the chips wagered.

 

  1. Place Bet – Betting a 4, 5, 6, 8, 9 or 10 will be rolled before a 7. This is similar to Come bets except unlike an Odds Bet, you do not have to place a bet in the Come or Pass Line bet first.

 

Points

True Odds

4 and 10

9 – 5

5 and 9

7 – 5

6 and 8

7 – 6

Because of the payout ratios above, Place bets on the 4, 5, 9, or 10 should be made in multiples of $5, and bets on 6 or 8 should be made in multiples of $6 because payouts are rounded down to the nearest dollar.

To make a place bet, click on the space marked “place bets” below the desired number square.

 

  1. Lay Bet – Betting a 7 will be rolled before a 4, 5, 6, 8, 9 or 10 is rolled. The Lay bet pays true odds less a 5% commission fee or “vig”, rounded down to the nearest dollar. You can make a lay bet without making a “don’t pass” or “don’t come” bet first. To make a lay bet, click on the space marked “lay bets” above the desired number square.
  2. Buy Bet – Betting a four, five, six, eight, nine or ten will be rolled before a seven, opposite of the Lay bet. The Buy bet pays true odds less a 5% commission fee or “vig”, rounded down to the nearest dollar. You can make a Buy bet without making a “pass line” or “come” bet first. To make a buy bet, click on the desired number square.

 

  1. Big 6 and Big 8 – Betting a six or an eight will be rolled before a seven. This area is located near the corner with a big 6 and 8. It is similar to a Place bet on the six or eight except you get paid even money.

 

  1. Field Bet – A one roll bet that the next roll will be a two, three, four, nine, ten, eleven or twelve. A roll of two and twelve pays double or 2 to 1. A roll of three, four, nine, ten and eleven pays even money.

 

Proposition Bets

In addition to the 8 different bets described above, you can also place Proposition Bets, located on the right side of the Internet craps table. To make a proposition bet, click on the desired square.

 

Hard Ways

When both dice come up with the same number, i.e. two 2’s, it’s called the “hard way”. The only numbers considered hard ways are 4, 6, 8, and 10. The 2 and 12 are not considered Hard Ways because the only way to make them is with a double (1+1, 6+6).

 

 

London, September 30, 2001 – Jackpot Madness, (www.jackpotmadness.com) the Internet’s largest gaming portal, has given away over $41,000,000 since launching a year ago. Featuring 6 progressive games, the portal is the gateway to the biggest jackpots online. Multiple winners have become more and more common on the huge network, as people are finding that their Jackpot Madness ship can come in once, twice and even more…

Following are excerpts from 5 multiple winner’s stories. All told, these 5 lucky winners have won a total of over $1,000,000!

When Accountant/Specialist in Commercial Law, Vincenzo D. won his first jackpot of $18,848.66 on WowPot back in February at Colosseum Casino, he prophesized “I’ve wlawys felt that I would win something sooner or later. Of course this is only the beginning… watch out, I’ll be back!” True to his word, he has hit two more jackpots since: $52,530.75 on CashSplash in March and $26,679.98 on LotsaLoot in August. To date, his total Jackpot Madness payouts are $98,059.19 and as he told us recently, “I still have three more progressive jackpot games to win on!”

LotsaLoot is Jean G’s game and there’s luck in Jean’s genes! An active mother and hardworking parts manager for a car dalership, Jean holds the record for the most times one player has won a progressive online jackpot. She has won on the LotsaLoot progressive no less than eight times for a grand total of $383,595.35! Thrilled winner Jean tells us that the wins really changed her life, “It is nice to be able not to worry about your bills, it is a stress when you are living week to week, so the winnings helped me to live a stress-free life from that end. So now I am happy. Also, now I can go into a store and buy something that I need or want, when before the winnings, just like most people I had to think twice.”

Peggy L., Export Inspector, was just amazed when she won her first jackpot of $16,757.88 playing CashSplash at First Web Casino on June 30th. If that wasn’t enough, on September 4th she hit the Treasure Nile Slot Online jackpot, this time to the tune of $58,683.68, bringing Peggy’s progressive jackpo total to $75,441.56. “I could not go to sleep after hitting the jackpot,” a thrilled Peggy related. “In the morning when my family woke up I told them what had happened and they could not believe it! Then we all screamed loudly! I plan on purchasing a new vehicle and I want the license plate to read ‘JACKPOT’!”

Debbie R., a five-time winner, has steadily won a progressive a month for the last 5 months, in a different casino each time, totalling $271,263.24. As far as plans for this unexpected windfall, Debbie reported, “With all these winnings, we decided to go ahead and build the house we were dreaming of. The winnings are really a great help. We are already starting the construction very soon!”

Lucky Jewelry Company manager, Tammy R, won two huge CashSplash jackpots. First, she won $78,415.36 last yead, and then in August she hit the jackpot again nd won an enormous $122,059.72 for a grand total of $200,475.08. “Although I won both times on CashSplash, I really love the new Treasure Nile, it’s awesome! Online is great, it’s better than Vegas. It’s convenient, fun and the odds are better. I only play at the Jackpot Madness casinos. I tried others and they just don’t have the great graphics. I tell everyone!”

Vicenzo, Jean, Peggy, Debbie and Tammy are just a small sample of the many winners who have gone back to win more than once, and who are determined to win yet again, enriching their lives and the lives of their families. In the words of big-time winner Vicenzo: “Winning does change how one sees life and the future. It makes one feel more serene, gives you the mentality of a winner. It makes you feel better about yourself.”

About Jackpot Madness:

Jackpot Madness, run by Jumbo Jackpots of Curacao, is the world’s largest online progressive network. All the jackpots won on the casinos providing these games are offered through full, direct cash payouts – the only games on the Internet offering this benefit. The goal of the portal is to provide jackpot enthusiasts with a single destination offering a wide choice of progressives, featuring frequent payouts and record-breaking jackpots. The jackpot totals are “live” and Jackpot Madness provides constantly updated information together with links to over 70 casinos. Total payouts are over $90,000,000 and counting.

 

Blacklists are commonly used by businesses and others to keep fraudsters out of their business, and have undoubtedly been used in the land-based casino industry since the very first die was rolled. Although the methods of cheaters and scammers has changed with the advent of online casinos, the necessity for the blacklist remains.

However, something new has emerged that is unique to the online casino industry. In order to entice players in the absence of the glitz and glamour of their land-based cousins, online casinos offer a variety of promotions that almost without exception involves giving away an excessive amount of free chips.

This in turn has spawned a new breed of ‘player’. They are referred to by a variety of names, from ‘promo abusers’ and ‘advantage players’, to ‘bonus hunters’, ‘free-chippers’ and finally, ‘chip-suckers’.

Although at first glance it would appear that this new breed of player is the problem, a closer examination reveals that the way in which many casinos are treating these ‘players’ is the real problem. Casinos try to develop rules that will either eliminate, or at least severely restrict, their exposure to ‘bonus abusers’. But with every new method employed to protect them from abuse, the abusers develop new methods to foil them.

Smart casino operators control their 먹튀사이트 promotions and find a way to weed out people who don’t put their own money at risk. After all, that’s the definition of gambling. And while it can be frustrating to have the rules section longer than the actual promotion, it has become a necessary evil. Wager 5x’s, email recipient only, not valid on roulette or craps, these are just a few rules used by casinos to control free-chippers.

Rather than write good rules, some casinos have instead resorted to abusing the purpose of the blacklist. The abused have become the abusers. In the past couple of weeks the blacklisting of these players has reared its ugly head and caused quite a stir among the various message boards. Unfortunately it seems like the only time you hear a casino’s perspective is when they are saying, “Sorry, we aren’t paying you.” So who gets all the publicity? The slimy casino operators.

Stupid casino operators run promotions with the idea of increasing cash flow, but what they don’t seem to realize, or if they do, don’t care, is that a liberal promotion will not increase cash flow in the long run. It is only a temporary fix, which most likely will come back and bite the casino in the butt. Inevitably, they find themselves in a vicious cycle, and instead of placing the blame where it belongs, they blame the advantage players. Casinos start changing the rules after the fact, and act indignant when someone says, “Hey, wait a minute!” It’s no small wonder that players view the industry with distrust and contempt. The ‘bonus abusers blacklist’, begun by a casino with a less than stellar reputation is just the latest blow.

Blacklists are for fraudulent activities, not for insurance against legitimate winners. If a so-called ‘bonus abuser’ plays by the rules and wins, he is a legitimate winner and must be paid. If your promotion was too liberal, instead of blaming the player, learn from it and DON’T RUN THE SAME PROMOTION NEXT WEEK!!!

Additionally, a blacklist for promo play will not work. Why? Just because John Doe plays promo-only in “Sleazeball Casino” doesn’t mean that he is a promo hunter. Some of my best customers would be considered advantage players by other casinos. Would I trust another casino to decide who my customers are going to be based on promo play? Absolutely NOT!!

Finally, mistakes do happen. Any list that does not allow players access to the original information that was used to place them on the list, along with the opportunity to challenge it, is worthless.

 

 

 

I enjoy reading your columns, and I have found your advice to be quite helpful. Blackjack is my game of choice, and I use your basic strategy card when playing. Could you please explain why you advocate hitting a 12 against the dealer’s up card of 2? I am often amazed at how frequently I bust my hand doing this. Jeff T.

The reason I advocate taking a HIT when you possess a 12 versus a 2 or 3, is that hitting a 12 is mathematically the correct move. Without considering depletion of deck, your chances of not busting when you HIT a 12 are 9/13, or 69.23076%.

You could digress from perfect basic strategy if you are on a hot streak from heaven, or if the dealer has developed permafrost. But why stand on that 12 when you know that if you hit it, the odds significantly favor an improvement of your hand? If you do not HIT, the only chance of winning with a 12 is if the dealer busts, and he has that same 69% plus chance of making his hand as you did.

Oh yeah, let me get back to what I meant by depletion of deck. The deck is “depleted” of the cards that have already been played, and what is left pretty much determines what your chances are at any given moment. Unfortunately, unless you have a computer hooked up to the game (illegal everywhere), those odds cannot be absolutely determined.

Dear Mark,

What holds the highest percentage for the house, a single deck or a double deck? Rose

Before getting to deck-cloning, Rose, keep in mind that how you play each and every hand is far more important than how many decks there are in the game. That said, your best game is always with a single deck. Here’s the house edge for all the different deck sizes used in most casinos. One deck has a casino edge of nil, a double deck game would be +0.35%, four decks +0.52%, six decks +0.58%, and eight decks +0.61%.

Dear Mark,

Question from an antiquarian. What is the background for Five Hundred, said to be the most popular card game in the States when Great-Grandpa was a boy? Jack N.

For the terrified few, Auntie is not in the fish tank; an antiquarian is a serious if aging amateur, which – when it comes to the game Five hundred – I am not. But its birds of a feather friend, Euchre, is far and away my favorite gaming diversion, one in which my play is at the advanced – or weeping – antiquarian level.

Five Hundred, developed by the United States Playing Sbobet Card Company in 1904, when they published its first set of rules, was to provide Euchre enthusiasts with a game having a greater opportunity for skill by dealing out of a full deck plus a joker as compared with the 24-card deck used in Euchre. Once Five Hundred was introduced, the game took hold immediately, and for more than two decades, its popularity rivaled that of Auction Bridge as the most popular trick-winning game in America.

After a quick read of the rules in Scarne on Cards, I dealt myself a few hands and gave the game a once-over, finding Five hundred agreeable as a beer and chips, kitchen-table scenic deviation from my Pennsylvania-Dutch-invented choice.

Now, Jack, if I can find a few players from yesteryear, I might just leave the Euchre circuit.

Gambling thought of the week: “Do you think an accountant has to miscount some numbers, or Mark McGwire has to purposely strike out, or a surgeon has to kill a few patients from time to time? Nope, but that’s the way it is in blackjack – the better you are, the more you have to pretend you’re not so good.” Barry Meadow (Blackjack Autumn)

 

 

LinkedIn has recently announced that it is to remove its products and services feature from company pages on the 14th of April.

No this was not just a rumour…it looks set that all your hard work building up your product history and recommendations is soon to be discarded by the site!

So what happens after the 14th?

Well, the ‘Products and Services’ tab will completely disappear and users will be faced with 2 options to re-showcase these, either:

Frequently share information about your products and services via company updates on your main company page.

Create a new ‘Showcase Page’.

What’s a ‘Showcase Page’?

‘But what’s a ‘Showcase Page’?’ I hear you ask…

These pages are a relatively new feature and essentially work as an extension of your Company Page with the aim of highlighting a brand or business and the subsequent products and services that you can offer. More about Long Format Tiktok

These pages consist of a cover photo, a quick description of what the page is actually showcasing and a sample list of page followers and of course, the page updates!

The main difference, however, is that people are able to follow certain aspects of your business that they find the most interesting. LinkedIn states that these:

Showcase Pages allow you to extend your Company Page presence by creating a dedicated page for prominent products and services. A Showcase Page should be used for building long-term relationships with members who want to follow specific aspects of your business, and not for short-term marketing campaigns.

As the majority of space on this page is taken up by page updates, it is imperative that you “ensure that you have a plan for maintaining an active presence”  before you set one up. If you create a Showcase Page for a product or service which you have very little to say about you’ll soon find this page looking bleak and barren – words you most certainly don’t want associated with your business!

Find out what to do now LinkedIn are binning Products and Services SocialMedia:

CLICK TO TWEET

Powered By CoSchedule

What’s all the fuss about?

So, this all seems well and good…or does it?

Posting real time company updates about your products and services is a noble suggestion, however due to the busy nature of the platform these are soon pushed out of site almost immediately from people’s newsfeeds and almost as quickly off your company page. And we all know the old proverb…out of site, out of mind!

Many business, including ourselves, would prefer a more permanent place to spotlight products and services, a temporary spot on the platform really won’t do.

So how did LinkedIn justify this decision to remove all our hard earned product and services recommendations and wording? They state:

…we do this to ensure that we’re creating a platform where companies can deliver timely, engaging content to our members. Sometimes, this means we need to remove a feature to focus on areas of the product that most benefit both companies and our members.

The products and services section is not an area that is taken lightly by business, with many investing hours and even paying eternal consultants to create these sections for them and with 1.2 million of these currently being showcased on the platform, this feature is most certainly in demand.

What do we suggest?

Well, before jumping feet first into a new Showcase Page, ensure that you have enough content to populate it and create a plan of how you intent to do so.

In the meantime, posting out periodic company updates regarding your services will suffice but for long term use, this is less than ideal! With regards to your product recommendations, if you’re a page admin you can download these to ensure they are not lost forever, or you can also request a copy of them from LinkedIn via this form.

Social networking sites are forever updating and modifying their features and should therefore never be solely relied on to showcase your business. We cannot stress enough the importance of creating your own company website in which you have complete control over what you showcase and how you choose to do it.

 

Playing at slots is very exciting for most of the players as it is fun-filled game with lot of excitement and thrill. However there are certain tips which you can consider while playing well at slots and these tips can help you out there on your way to become a winner of the game like 5 Line Mystery Slots. Though, it is fact that no one can claim that there is sure shot way to beat the slots and one when play, he should play it for fun and entertainment at first.

Here are some of the tips which you could consider prior to playing-

1 Avoid Slot Machine Systems:

It is the fact that in actual there is a no way to foresee and predict the outcome of any spin as every system is based on random number generator. Coming spins result is no way affected by previous spins. And instead of this there are numerous slot systems which allege by offering ways in which one could win on the slots. To win a game with random number generator is purely a matter of luck than a matter of skill and there is no described way to be consistent at the game.

2 Set a session bankroll:

How much time you would spend on a session should be decide by you in advance and you should play accordingly. This tip and advice is not confined to slots only but for any form of gambling. This tip would definitely help you in sticking to your goal and you would be able to avoid any temptation.

3 Get to know your game:

It is the rule of every game and not only slots that one should first learn all the details of the game, whether they are rules, prerequisites or any other basic fundamentals of the game etc. Always go through the payout table or one can take help of help button by just pressing it and no one know that by this way you could hit those magical combinations.

4 Set Goals:

A Reasonable goal should be set and when you reach at set goal what you should do is take your wins and run away. Never try to exceed your goals in hope of more wins, you may either end up with no wins and more loses.

5 Non winning spins:

You should always find out a way to try several machines. This can be done by setting a number for yourself and when after losing an amount of spins on particular slot you should know where to stop and switch. You will get to play various games this way and you never know jackpot can hit on any machine at any time.

6 Enjoy the game:

Always play Situs Slot Online for fun. It is the key to win on the slots otherwise if you play with the aim of winning, you might get disappointed when you lose. Therefore enjoy the game that would probably give you relaxation and take it as a recreational activity and in case if you win that is a bonus.

 

 

 

World Gaming – World Gaming plc, a global pioneer in I-gaming technologies, today announced the signing of a software licensing agreement with Sona Innovations Inc., a leading North American provider of secure mobile solutions, that will see the introduction of wireless applications for its most popular games, blackjack, slots and sportsbook, before the end of the year.

Under the three-year agreement with Sona, World Gaming will be deploying three games on Microsoft’s Pocket PC – expected delivery November 2001 – and Palm OS(R) – expected delivery December 2001 – built on the Sona Wireless Platform(TM).

Microsoft’s Pocket PC and Palm OS devices were chosen for World Gaming’s first wireless software suite, due to screen size and capabilities, input method, power management, network bandwidth, device memory, graphics and processor power.

“The wireless market is growing exponentially and it represents a very real opportunity for World Gaming to expand its global presence – particularly in Europe and Asia where wireless gaming is more advanced,” said Michael Aymong, CEO of World Gaming. “Wireless is an exciting new opportunity for World Gaming – enlarging our total available market and increasing revenue streams for our existing products and services.”

World Gaming selected its most popular offerings – blackjack, slot machine, and sportsbook betting for the initial wireless suite, with plans to expand in the future. The new products will tap into the users of online casinos and sports betting, which dominate up to 73 percent of the online gaming market.

A recent Datamonitor report projects that revenues from the total mobile gaming markets in the US, Europe and Asia Pacific will grow from an estimated $950 million in 2001 to $17.5 billion in 2006. The international research firm also reports that Asia Pacific is currently the wireless gaming capital of the world, with 60 million gamers.

In Europe, 41 million currently play Online Casino Singapore games on their mobile phones or PDAs, compared to 22 million in the US. By 2006, Europe will have over 150 million wireless gamers, while in the US, the number will grow to 124 million.

“Data is typically encrypted then decrypted, which has inherent security risks,” said Jeff Halloran, president and CEO of Sona Innovations. “The robust architecture of Sona’s technology is very unique, as it does not use public gateway servers and it rapidly deploys an animated presentation layer unlike any other wireless service. “Sona’s client software establishes a secure session on the Pocket PC or Palm operating platform and communicates directly with World Gaming’s servers. Through our unique end-to-end secure approach to deploying applications on handheld devices, we are able to deliver to World Gaming a wireless solution that provides the level of presentation, performance and protection the World Gaming community has come to expect. Being network carrier agnostic, Sona Innovation’s one of a kind solution becomes an immediate global platform to support World Gaming’s secure growth.”

World Gaming evaluated several vendors before choosing Sona Innovations. Sona was selected based upon the following criteria: a strong commitment to continued diligent support of World Gaming products and services, synergies of respective business models, number of wireless devices supported, ease of implementation, and security.

“Our new wireless suite of products is a plug-in solution, requiring no back-end integration, that leverages and extends existing World Gaming technologies, products and services,” said David Pasieka, COO of World Gaming. “Wireless technology is still in its infancy and continuously evolving. Standards, protocols, network and client device issues require significant and dedicated development resources. “Sona Innovations’ experience successfully delivering bullet-proof applications for the banking and brokerage industries has made the company the ideal supplier for World Gaming and has addressed our concerns over security.”

 

 

 

Payments – Utility Settlement Coin Aims to Set Industry Standard for Central Banking Digital Cash

A group of major banks; UBS, Deutsche Bank, Santander and BNY Mellon, as well as the broker ICAP, have teamed up to develop a new form of digital cash that will help to set an industry standard to clear and settle financial trades over a distributed ledger.

In September 2015, Bitcoin Magazinereported that UBS was working on a prototype virtual currency to be used by banks and financial institutions as a basis to settle mainstream financial markets transactions. UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, is the biggest Swiss bank and is considered the world’s largest manager of private wealth assets, with more than 2.2 trillion Swiss francs (CHF) in invested assets.

The new virtual currency, dubbed “Utility Settlement Coin” (USC) would be used for post-trade settlements between financial institutions on private financial platforms built on blockchain technology and permit settlement of trades in seconds rather than days, with reduced risk and operational costs. To achieve this vision, UBS partnered with Clearmatics, a developer of “permissioned” blockchain technology. Permissioned blockchains, where only authorized operators can validate transactions are supported by banks and traditional financial operators wary of the open, permissionless Bitcoin blockchain and the perception of its troublesome anarchy. Learn more about SKYBLOCK COIN

 

Now, UBS has joined forces with Deutsche Bank, Santander, BNY Mellon and ICAP to propose the USC to central banks, aiming for its first commercial launch by early 2018. “Cash is a leg to almost every trade, so this project is key to unlocking the benefits that the industry can gain from distributed automation technology in clearing, settlement and collateral management,” said Clearmatics Founder and CEO Robert Sams.

The group will collectively build on the successful outcome of initial explorations of the USC concept, performed by UBS and Clearmatics, notes a joint press release issued by UBS, Deutsche Bank and ICAP.

“The focus of the work will consist of financial structuring of the USC and wider market structure implications as well as market integration points for a fully operational utility settlement coin for future use by institutions,” states the release. “Additionally, Clearmatics is tasked with delivering early releases of the technology platform to underpin the concept. Active dialogue with central banks and regulators will continue to ensure a regulation compliant, robust and efficient structure within which the USC can be deployed.”

The USC is defined as an asset-backed digital cash instrument, implemented on distributed ledger technology and fully backed by cash assets held at a central bank, for use within global institutional financial markets. In September 2015, UBS and Clearmatics launched a first pilot project, part of the UBS Crypto 2.0 Pathfinder Program, to validate the USC concept. The successful conclusion of the pilot indicated that the USC project was ready for the introduction of additional partners.

“Digital cash is a core component of a future financial market fabric based on blockchain technologies,” said Hyder Jaffrey, head of Strategic Investment & FinTech Innovation at UBS Investment Bank. “There are several digital cash models being explored across the Street. The Utility Settlement Coin is focussed on facilitating a new model for digital central bank cash.”

It’s especially interesting to speculate about the future of the USC and its potential to become a global standard electronic currency for settlements, adopted by major banks and financial operators. The Financial Times notes that banks are now exploring how they can exploit distributed ledger technology to speed up back-office settlement systems and free billions in capital tied up supporting trades on global markets. The total cost to the finance industry of clearing and settling trades is estimated at $65 billion to $80 billion a year.

“Recent discussion of digital currencies by central banks and regulators has confirmed their potential significance,” said Julio Faura, head of R&D at Santander. “The USC is an essential step towards a future financial market on distributed ledger technologies,” Saket Sharma, head of Treasury Services Technology at BNY Mellon, added that the USC initiative provides “an exciting opportunity to work closely with other industry thought leaders and the regulatory community to explore the possibilities of this technology.”

A Santander press release notes that the group is already in contact with central banks and regulatory authorities to ensure the launch of the USC in a solid and efficient framework that meets all regulatory requirements. Persuaded that blockchain-based digital cash represents the future of financial markets, the group is planning wider trial projects before the 2018 launch.

 

Nevada casino revenues rose 5.7 percent in May, propelled by a strong 11.9 percent gain on the Las Vegas Strip that pushed year-to-date revenues out of the red and into the net positive column, according to figures released on Tuesday.

But analysts stopped short of saying the strong increase marks a turnaround for the state’s gaming market, where growth has slowed amid the economic slowdown.

Nevada casinos posted a gaming “win” — money left after all bets were paid — of $844 million in May, according to the Nevada Gaming Commission.

That figure brought total casino revenues for the first five months of the year to $4.07 billion, up 0.8 percent compared with the same month last year. At the end of April, statewide gaming revenues had been down 0.4 percent for the year to date.

Of the state’s May revenues, Las Vegas Strip casinos accounted for $385 million, or nearly half of the total.

Lehman Bros. analyst Joyce Minor said the May increase on the Strip was not unexpected because several calendar factors worked in the market’s favor. But she said the magnitude of the gain — the largest percentage gain since July 2000 — came as a pleasant surprise.

“We have heard that both convention and tour travel demand was very solid in May,” she wrote in a research note. More about Situs Slot Deposit Pulsa Tanpa Potongan

But Minor added that the situation could still turn around in the months ahead. “We expect June results to still be decent,” she wrote. “August becomes a tougher comparison with (last year’s) 15.2 percent gaming growth on the Las Vegas Strip.”

Outside the Strip, the only other major market posting a strong year-on-year gain in May was the Boulder Strip where revenues rose 13.1 percent to $57.8 million.

Revenues continued to slide in northern Nevada, where the gaming win was down 3 percent to $97.8 million in the Washoe County market that includes Reno and Lake Tahoe. Washoe County gaming revenues have now dropped in four of the first five months of 2001, with some analysts attributing the attrition to growing competition from Native American casinos.

Revenues also dropped a hefty 26.7 percent to $16 million in North Las Vegas, possibly reflecting growing competition for casinos in the area owned by Station Casinos Inc. (NYSE:STN – news), said UBS Warburg analyst Robin Farley.

“The decline…indicates that Station Casino’s North Las Vegas properties…are probably still being hurt by new competition from the $175 million Suncoast which opened in September 2000,” she wrote in a research note.

As a result of the competition, Farley said she expects Station’s North Las Vegas properties to suffer year-on-year declines in revenues and operating income until the fourth quarter when Suncoast will mark its first anniversary.