streetsmartchic

Horse Racing in Hong Kong (An introduction to a horse racing sport in Hong Kong)

2008-03-13T01:26:17Z

Soccer in Europe, baseball in the United States, and horse racing in Hong Kong, what do they have in common? The excitement level the sports bestow to their respective audience.

If Europe appreciates soccer, and the United States crazy about baseball, in Hong Kong, well they celebrate horse racing.

Horse racing in Hong Kong is probably one of the far-famed influences of the British colony. They established the Royal Hong Kong Jockey Club in 1884, which now famously known as HKJC or Hong Kong Jockey Club.

Ten years after this mega city returned to its motherland China, horse racing continued to thrill Hong Kong people. Given this cultural lifestyle, the sport also developed support from the central government.

In fact Hong Kong’s largest tax payer is surprisingly a horse racing business. HKJC annually draws in over 10% of the city government’s tax revenue being one of the top 10 employers.

In addition to the Club’s philanthropy, it is the largest charity organization with its donation exceeding US$ 1.3 billion for the past three years according to People’s Daily Online (peopledaily.com.cn).

Live horse racing events in Hong Kong are held in two of HKJC’s racecourses, Happy Valley and Sha Tin. Racing season are mostly on Wednesdays and weekends between September and June. Fans are busy during these race days, wherein they are perusing the odds of their favorite horses either thru the newspaper or over the internet.

HKJC run over 700 stakes races yearly. And one of the most awaited showcase racing is the Hong Kong International Races, also known as Turf World Championship. It is a tournament where the world’s best jockeys, trainers, champion horses and contenders are all in one event.

Estimated sports goer during racing season is about 1.2 million each racing day, based on the Club’s statistics. And they employ about 5,000 regular employees and 20,000 part-timers more during the season. From that number alone, imagine the crowd size of this mega sports event. And from there it is not at all surprising to know that HKJC welcomes US$ 215 million bets each racing day.

Everybody wants to have a piece of that daily figure for sure. And apart from Hong Kong, the world is watching.

With off track betting (online), anybody from anywhere in the world could place a bet, provided you have an advance deposit wagering. ADW is like a prepaid transaction, requiring advance deposits. You are to setup an account (telephone or online) before placing a long-distance bet. Like a debit card you can only consume what you deposited.

Given these preparations, anybody could just fire up a hand-held, a laptop or desktop computer and lit up a wired or wireless internet connection. Right there and then you could retrieve up-to-the-second odds of Hong Kong horse racing and place bets wherever you are in the planet.

Indeed, horse racing in Hong Kong is literally, world-class.

Cyber Bets

2008-03-13T01:18:26Z

I’ve had my share of betting when I was a little kid, but not in terms of money. Back then I remember it is all a matter of acquiring betting capabilities against other children. Like winning more cards, more packs, more bottle crowns and candy wrappers. Winning means more opportunities of playing.

During the low technology days, there are only two legal game-of-chances that I know of, one is the lottery or sweepstakes and the other is horse racing. Let’s talk about the latter.

I‘ve seen several horse racing betting stations on my daily travel during college. These stations are always located near main roads and avenues, a positioning strategy to attract more gamers probably. They are traditional type with TV and an army of wagers glued to it. Its popularity is so huge that in an instant you can tell a crowd with a TV is a horse race betting event.

Today, since almost all aspects of life are coping up with technology it’s no surprise to see horse betting exchange in cyberspace. An off-tack internet gambling facility that connects you whether you’re at home, in the office, at school or anywhere else. You can place your bets through legal internet and telephone wagering.

There are loads of online exchange that offers horse racing. Mostly from the United States, Canada, Australia, Great Britain, New Zealand, and Hongkong to name a few. Now you get the pleasure to gamble across the world without moving a seat.

Legal internet gambling works in what they call Advance Deposit Wagering (ADW) where in bettors are required to set up accounts and deposit money in advance, before they can make their long-distance bets.

Horse betting has single and multiple-race types of bet with which names and terms might differ in one country to another. Some common examples of single-race bets are (1) the bettor picks the winner of the race, (2) the bettor picks either the 1^st,2^nd or 3^rd placer of the game and (3) the bettor picks the 1^st, 2^nd and 3^rd finishers in order. Common examples of multiple-race type is the same with the single-race bet but this time the bet is spread out to the number of Leg Race.

Online betting exchange like the conventional also has its own rules by which they call betting systems. There are several betting systems in an online scenario. But the most popular among race-type or sporting bets are fixed odds betting and parimutuel betting.

Both systems are used to games with relatively short time period which players or participants finish in a ranked order. The difference between fixed odds and parimutuel betting is that the former determines the payout after all bets has been counted and closed, while the latter agreed the payout at the time you place your bet.

Now let’s go to horse betting with its advantages. Aside from winning personally, let me emphasize one good public proof of its advantage. Well they say the haven of horse track racing in Asia is Hongkong. Under Hongkong Jockey Club (HKJC) are two famous race tracks: the striking Sha Tin and the 150-year-old Happy Valley Horse Racing Track. The thing is HKJC is not your ordinary organization that promotes horse racing. The institution happens to be the biggest taxpayer of Hongkong, as well as the largest private donor of charity funds according to Wikipedia.

The disadvantage of course in an individual level is losing and being addicted at the same time. In a bigger picture there might be illegal institutions that just saps cash out of everybody without paying taxes.

Gambling has pleasure that pays off risks, win or lose. To bet or not to bet is up to you. Mine is an overview of a beginner in an online horse betting. Or gambling thru the electronic media as a whole.

HKJC corporate responsibilities

2008-03-13T01:05:08Z

In 1884, the HKJC was appointed as the official regulatory body to govern the whole horse racing industry in Hong Kong. From then on, it has become a huge corporation with 25,000 employees headed by a Chairman, directed by 12 Board Stewards, and managed by 8 Executive Directors (or Board of Management) which is lead by the Club's Chief Executive Officer. In short, it is one of the largest corporations in the region and one of the top revenue contributors of Hong Kong.

HKJC provides a wide range of exclusive facilities for its 20,000 members, e.g., dining, social and recreation facilities. These are not taken from the Club’s funds but financed entirely by the members' subscriptions and fees. HKJC is a non-profit organization and is not composed of stockholders like other corporations. It obtains its net earnings from racing and betting, and the money raised is donated to charities.

On March 6, 2007, William “Bill” Nader was appointed as the new Executive Director on racing beginning April 2007. Among the recent chairmen of HKJC were: Douglas Clague, Sir Gordon MacWhinnie, Peter Gordon William, Michael Graham Ruddock Sandberg, Sir Oswald Victor Cheung, Sir John Joseph Swaine, Sir William Purves, Alan Li, Ronald Arculli and John Chan.

Charitable work of HKJC

2008-03-13T00:55:07Z

Every year, the Hong Kong Jockey Club (HKJC) earns an average of HK$1 billion or US$130 million from its racing activities. But this money does not go to private funds; rather, to different charitable institutions all across the region. Hence, HKJC is regarded as largest private donor in Hong Kong tantamount to the Rockefeller Foundation in the United States. The Club’s charity work is focused on 4 social aspects: community services, education and training, medical and health, and sports, recreation and culture. The community services aim to assist the social needs of its people. In 2000, the Club founded the “Jockey Club Centre for Positive Ageing” which gives priority to the welfare of the growing elder population, especially the patients of dementia. Medical and dental services were also provided in this program. In 2003, the “Hong Kong Jockey Club Centre for Suicide Prevention and Research” was established alongside with the “Intensive Employment Assistance Programme” which was a joined project of the Hong Kong Jockey Club Charities Trust and the Department of Social Welfare. The “Jockey Club Arts for the Disabled Scheme” was also begun during this year, a five-year program that aims to help disabled people fulfill their potential through arts. In 2005, HKJC launched a program for youth called “"P.A.T.H.S to Adulthood: A Jockey Club Youth Enhancement Project". It is more of a seminar that teaches adolescents to develop positive beliefs and values, enhance their self-confidence and sense of responsibility, and establish a self-identity.

HKJC also sees education as a way to reach out to young people. The “Hong Kong Jockey Club Education Fund” was established in 1960 and has helped nearly 150,000 secondary students to further their education. The Hong Kong University of Science and Technology was built in 1992 from the funds of the HKJC Charities Trust, while the “Hong Kong Jockey Club Scholarship Scheme” was established in 1998 to provide scholarships for local and Mainland students who want to pursue tertiary education in local universities. In 2005, the “Job Shadow Week” was launched to assist secondary students in training. 250 recipients were sent to leading companies and government bureaus under the supervision of their mentors.

HKJC works with the government and local institutions when it comes to medical and health services. In 2003, HKJC donated a sum of HK$500 million to the Department of Health for the establishment of the Center for Health protection, which opened on October 2004. In 2005, it granted HK$175 million to the Hong Kong University of Science and Technology to become a center for research on aging-related diseases. This project was in partnership with the Geron Corporation, an American company.

The earliest contribution of HKJC in sports is the Sha Tin racecourse. It was succeeded by other donations to promote sports and recreation in Hong Kong, e.g., Jockey Club Kau Sai Chau Public Golf Course, Victoria Park, Ocean Park, Kowloon Park, Hong Kong Park, and the Hong Kong Sports Institute. In 2005, HKJC provided funds to build the Hong Kong Football Academy, which will serve as the major residential training ground for Hong Kong's football teams. HK$103 million was granted to the Academy. The Club also donates yearly to the Hong Kong Arts Festival, as it believes that it will help nurture the Arts and Cultural sectors of Hong Kong.

Kanati.com.ph

The Advent of Opensource Development

2008-03-13T00:50:54Z

As technology gets more advanced, more and more applications can be easily done. The computer age has come and its development is very rapid. New technologies and updates are done every once in a while. Various computer programs are made even better to satisfy the needs of the user. And thus, opensource development is inevitable.

What is opensource software and what are the common opensource technologies these days? Well, open source software or OSS is computer software that has a special license which allows anyone to have access on the program code. This also means that everyone can have the privilege to edit the code or modify it based on his needs.

If you are into opensource programming then you may encounter customizing the various software any way you want it. When the software is released, the source code is guarded by a license. Therefore, opensource web development also protects the right of the user in accessing and customizing it. This what makes it so different with closed source software.

In Closed Source, the designers or originators of the software are the only ones who have access to the program code and they can modify the application. So how can opensource systems software development be of use? Well, it has a lot of advantages and uses.

In the field of business, it is true that not all industries have the same products and services. Not all trades work under the same procedures or principles. So it is impossible to have all business systems run by only one piece of software. A corporation might need more complex software to satisfy the necessities of the users. Or a small scale business might need a simpler program for their enterprise. Although many businesses have common practices, the standard software can serve its outright needs.

However, there are methodologies and practices which will set you apart from your opponents that is why opensource development is important and is now being widely used in the corporate world. Besides, what would you do with software that restricts you in your operations? It is best if you can modify it according to your company’s needs. Many have admitted that it has helped them in critical situations and it aided it gained them an advantage in the marketplace.

One can adapt or transform the source code to suit the user’s requirements. Thus, business can further improve their processes and they can afford for these modifications. Howcome? Well, the source code or the basic software is not costly and is readily available in the market. So, the costs are reduced, giving way to allocate the fees in enhancing or hiring a php programmer or a java developer.

Moreover, you can also try consulting ajax developers or mysql programmers to help you with that. Many of these experts work as freelance contractors or can be hired to modify the program code.

Another thing is, a complex program is hard to configure or modify that is why many developers and programmers make it open source to save on development costs and time. Some programmers take years to finish a certain source code but with the help of other developers, those years can be converted into months.

Why More People Trust Firefox

2008-03-13T00:39:09Z

Internet Explorer has been there for a longer time compared to Mozilla Firefox but still more and more people are using Firefox these days. Although Microsoft has developed and released the new web browser, Internet Explorer 7, many are complaining about the bugs after upgrading. It has a new range of features and it is integrated with the new tabbed browsing system. But Firefox has been already using this kind of interface even before Internet Explorer 7 came and thus, people would rather trust a browser that has been using that feature for years unlike the one which is just new to the industry. Moreover, Microsoft’s new web browser may have already a built-in pop-up blocker but Firefox users have already been satisfied with this feature way back then before Internet Explorer 6 has been introduced. Furthermore, when it comes to spyware and virus attack, Internet Explorer is far more vulnerable compared to Mozilla Firefox. But this does not mean that Firefox is completely secured but the security system is being improved every now and then.

So why is it becoming more protected and more reliable? This is because Mozilla Firefox is actually an open source software. Meaning, its source code is viewable and open to the public. This has posed many arguments and conflicts. Other people say that this would cause large threats on security and more prone to all sorts of viruses but this is not always the case. Of course it would be easier to have access to the code but the thing is, more software developers and programmers can actually contribute to its development. This makes Firefox better than better. The fact that files are getting more updated and the bug fixes are faster compared to Internet Explorer which is quite delayed when it comes to fixing bugs and security threats. Microsoft’s Internet Explorer 7 has this anti-phising scanner system. This scans the web pages you visit and checks them for the possibility of scams. This is a very helpful feature since more and more scams have been rampant over the years. But Firefox also has this with the Google Toolbar Extension. Google has created a new toolbar which includes a feature known as Google Safe Browsing that prevents the user from opening potential phising sites. This definitely adds up to the stars of Firefox which makes it a very flexible browser. So what more can you ask for?

It’s true that Internet Explorer 7 has this toolbar which includes tools that would enable the web developer to manipulate and troubleshoot the page but Firefox has been already equipped with these features long before Microsoft did. Not to mention that Mozilla handles CSS (Cascading Style Sheets) much more efficiently compared with Internet Explorer. So you can use it for all your outsourcing needs. Whether your operating system is Linux or Windows, it is very convenient to use. Moreover, Kanati has been using this browser for their business needs. They have been a good name in finding the best business solutions.

The Colors of SEO: Black and White

2008-03-13T00:34:48Z

People always had the notion that the color white pertains to something good. That can also be applied in the principles governing how white hat SEO is being used. Technically speaking, white hat search engine optimization is geared towards producing the projected website traffic from the websites and articles rich with keywords. Moreover, this is being done in marketing approved methods which do not in any way sacrifice the overall quality of the website and articles as it pertains to quality of the context. It also do not put readers in probably jeopardy while accessing websites.

White SEO involves the use of accurately described meta tags without abusing the density of the keywords. It also does away with irrelevant content or off topics remarks which are only being used to become fillers and make the articles appear longer though without credible content. White SEO also involves closely monitoring popular search engines to ensure that your website or articles get high rankings whenever specific keywords are used.

And just as white pertains to good, black also pertains to the bad when it comes to search engine optimization. Black hat SEO also operates on the premise of receiving high rankings when being searched by search engines and in effect generating high website traffic. However, black SEO makes use of all means possible to achieve these purposes. What black SEO is only concerned with is their own face in the middle of the internet marketing game but they may not always have the intentions of helping search engines produce credible results for internet surfers.

Among the most infamous methods used in internet marketing specifically through black SEO is Spamdexing. The method works by promoting various products ands services which are highly irrelevant to the information otherwise needed. Spamdexing hides the façade of keywords in order to lure in viewers. Moreover, it also contains spam websites which flood the search engine results although they do not deserve the rankings. In effect, readers are left with nothing but useless information and the search engine which they use may also gain a bad reputation because of black SEO.

It is actually easy to spot a white SEO from a black SEO. White SEO generates slow results because it builds good reputation first from its readers. On the other hand, black SEO will offer quick website traffic generation but it could also lead you to being banned from search engines on the internet. With white SEO, you may not notice profits coming in quickly but you will receive good recommendations which will eventually cause profits to steadily progress and pour. Meanwhile, black SEO would only give you a stream of profits for a limited time—until your website gets removed or even worse, banned.

The Basics of Search Engine Optimization

2008-03-13T00:31:59Z

The World Wide Web is a very vast community, this is primarily why search engines have become a necessity among internet surfers. When people go online looking for something, they would typically seek the assistance of search engines such as Google and Yahoo. In here, they would type in the words which indicate the information they needed to retrieve through the internet. This simple gesture is what eventually gave birth to Search Engine Optimization, also known now as SEO.

Keywords are the life blood of SEO because these are the words which are typed down by internet surfers. The greater the keyword density, the better chances each articles or websites get in getting top ranks when SEO generate hits. This is basically the reason why SEO writing is more geared towards dispersing the keywords properly within the article.

But as powerful as SEO may be, there are still some pointers to be considered when it comes to search engine optimization. You can use it for your or your own clients benefit, but there are still limits which you must adhere to. First on top of them all is the fact that you should always follow the best practices and guidelines of internet marketing. You should always operate bearing Internet ethics in mind, not just the profits which SEO can probably queue up for you.

Another thing that must be remembered is the content. Sure, you have articles and websites filled with keyword rich SEO but if you do not have content which is informative then do not expect generating too much sales. You see people are not usually informed about the whole SEO thing. Moreover, when potential customers use keywords they use it and expect to see results. So if your article turns up as one of the top results in any search engine, you would of course have higher possibilities of getting clicked. However, once the first few lines of your website and you content cannot meet the expectations of the reader you will surely get dished out faster than your keywords got read. After all, white SEO is what you should observe in your website

In addition, you should also keep your content and your websites updated. It does not mean that when you are already generating website traffic from a well optimized SEO site you should already stop there. Remember that good websites are spiraled into popularity because they do not remain stagnant. They are always up for something new and exciting to offer.

Aside from these, there are also some things which you should care NOT to do when it comes to SEO. First of all, never ever try to cheat the system. Adhere to the guidelines and rules. It is better to be on the right track always than be reported and banned from SEO linkages.

Speaking of links, always have working links on your websites. Never try to use links just to get readers to view your page. Never fool people into clicking a link which does not work, or worse, that which leads to possible scam or virus computer infections.

When it comes to content, it would do you good to stick with only a maximum of 300 words. This is the best form of content as it is easy to read and easy to digest. Remember, your readers read faster and quicker as compared to when they read hard copies.

Why SEO can help your website

2008-03-13T00:25:33Z

What makes online businesses a success these days? Well, it is all about search engine optimization or popularly known to web business experts as SEO. Many industries and websites all over the world have been grateful to SEO services when it comes to internet marketing and in promoting web pages. They admit that it has brought them many advantages and it helped them get an edge against their competitors.

So basically, what is SEO? It is actually a method of increasing the number of visitors to a particular website by means of getting high search engine rankings. If you appear on the first page of the search engine site, then you should consider yourself lucky because this will heighten your chance of being seen by your potential customers or target market.

SEO experts have formulated and discovered various SEO techniques which you can surely adopt to get a lot more visitors. However, having high search engine rankings or having a lot of visitors is not the only basis for making your business a success. You should make sure that your website is neatly organized and readily accessible. Keep in mind that your goal is to actually attract clients as well as convince them to trust you.

One of the fundamentals in search engine marketing is the proper use of keywords or key phrases. Make it a point to select the right keywords for your website. However, it would be better if you come up with unique keywords because most of your opponents are using the common keywords.

If your keywords are unique and at the same time, appropriate, you will notice the sudden increase in traffic. Moreover, having an attractive web page is not enough. You should make sure that the content is very informative and convincing enough. Emphasize the features of the products or promos that you are endorsing.

In addition, do not let your web site be stagnant. Do not let it be like figurines which gather dust over time. Keep your web page updated and full of vital information. In doing so, you will gain more popularity and your readers would not get bored reading the same page over and over again.

Another good thing about SEO is that it can aid your site in having a consistent position in search engines. Once you are on the top ranks, you will surely gain more visitors, yet you should maintain these rankings as much as possible. In addition, you can drive your way to search engine marketing by inserting meta tags in your website.

Make sure that your title is catchy enough and the keywords should be search engine-wise. The title should not be too lengthy and it should contain your main keyword phrase. Then the description tag should also include your main keywords or phrases. When writing your content, you should avoid inserting hundreds of keywords because this may delist your site because of keyword spamming.

Furthermore, you should establish links with other related sites because majority of the search engines rank websites depending on the amount of credible links from other web sites.

Horse racing in Hong Kong

2008-02-13T01:55:18Z

In Hong Kong, horse racing is the most popular form of sporting and entertainment. Most races are held every wednesday night and Saturday afternoon. Most foreign visitors put horse racing as part of their itinerary.

Hong Kong has two racetracks which are Happy Valley and Sha Tin. Horses are imported from different countries, same as jockeys who came from different part of the world.

Night races commonly happen in Happy Valley Tracks, which thousand of fans cheering on their favorite horses under the midst of the night. While Sha Tin racetrack offers sophisticated horseracing facilities which most tourist and overseas visitors want to see. Sha Tin features a high-resolution diamond vision screen that is the longest TV display in the world, while the unique, retractable roof in the Parade Ring has set a new standard of comfort and access for racing fans.

So when visit Hong Kong, include horse racing in your itinerary don't miss the different kind of experience.

http://www.kanati.com.ph

US recession will affect RP local economy

2008-01-24T05:07:09Z

The US economy experiencing anticipated slump that will have great effect to the local economy. I don't know how to explain this but I'm pretty sure Pinoy will eventually suffer this year and unemployment statistic rate will get high by the next few months.

The booming call center business, which caters to the US market will faces cost-cutting measures that could include office cease of operations and layoffs. It's because most of BPO companies are suffering from the high exchange rate of peso and dollar. Now that the exchange rate is 40 pesos vs.1 dollar, the management of some BPO companies can't afford to pay $375 per call center agent, they will land their calls to much cheaper location such China, Africa and India. If that's happened, there will be more and more unemployed here.

On the other side, POEA stated it won't really affect the OFW remittances, “US economic slump would have no effect on the deployment and remittances of Overseas Filipinos, who they said are in demand because they are more skilled than their counterparts in various countries”. We all know that the US is the largest source of remittances with more than 40 percent of some eight million Filipinos based abroad, or a 10th of the Philippine population, are in the US. Overseas workers like nurses and caregivers could be reduced, and those professionals working in the United States may not obtain security of tenure.

The Philippines should shift its focus and dependency to other nations like Japan, China and the European Union members.

kanati inc.

Benefits and advantages in using Open Source

2008-01-23T02:55:36Z

Let's talk about opensource and it's benefits. We know that one important question regarding this matter is it's benefits for the customers, users and clients.

Open source is use to create a software, it is the set and principles they use. It came from the words “open source” which literally means the source code is available to anyone. It's not just getting only the source code but also having the right to use it.

Since it's open, the customer will minimize the cost because there's no licensing fee, second is the openness and greater flexibility. You can enhance it by your own and don't have to wait for the vendor to add what you need. In terms of ownership, users are now stakeholders, there is no adversarial relationship between vendor and client at all. When it comes to security, you can inspect the code line by line to ensure that no programmer has buried logic bombs, trapdoors, Trojan horses, viruses and others in the code.

We can say that Open source software helps to avoid monopoly (a single dominant vendor). In open source the users customize what they want to see in the product. These activities can become the basis for a standards submission as they can prove the viability of an approach and enable many users to validate their utility, in real life situations.

WE CREATE WHAT YOU WANT AND DELIVER WHAT YOU NEED!

Why Philippines?

2008-01-22T07:47:27Z

COME..Outsource in the Philippines!!!
http://www.kanati.com.ph

Gambling on cruise why not on plane?

2007-12-18T00:46:32Z

Airliner believes gambling can bring so much money. This is from optimistic view of common entrepreneurs with no gaming experience.

Some airlines have thought about onboard gambling like Singapore Airlines. They once installed two slot machines, only two feet tall with plastic rather than metal cases to save weight, at the back of a plane. In the late 1990s, Swissair introduced on-board video gambling, followed by Lauda Air. Singapore tried again. Harrahs entered into a joint venture with Sky Games

On board gambling ended due to airplane crashed. Swissair flight 111 crashed off Peggys Cove, Nova Scotia on September 2, 1998, 229 people who died in sight of the land. It was, and still is, generally accepted that the MD-11 was brought down by a fire caused by the onboard entertainment and gambling system. US law became more strict.

Now the U.S. is opposed to poker, lotteries, sports betting and casino games on the Internet. The result is that Internet gambling has become a very big business, but not for American operators.

Kanati Inc. now embracing the idea of opensource, but for not techie geek like some of Kanati's employees here, moving to linux used to be a big deal. Contrary for techie guru here said it was cheaper, more reliable, and more flexible. HP, IBM, Novell and Sun Microsystems -- has dispensed with that fear. Supported by integrators and buoyed by ever-improving technology, all kinds of organisations are happily using Linux for a range of mission-critical services.

Of course, there will always be certain applications that just aren't available on Linux: for example, or graphics-intensive tools are likely to prefer Windows. It's important to work out a strategy for keeping the two environments working in synch -- for example, keeping your data in a separate environment, such as a storage area network, neutral file server or platform-agnostic database, which is equally accessible from all platforms.

Linux is no longer unsupportable. It's probably premature for most companies to slowly cut their ties with Windows but lets see what are the benefits of using linux and beside there's no license fee at all.

Parimutuel Accounting Defined

2007-12-12T23:56:00Z

The words pari-mutuel (pari-mutuel) and paramutuel (para-mutuel) are used interchangeably. It comes from the French language ‘parimutual,’ which means mutual betting. It is a type of betting system where all bets of a particular type are placed together in a pool, and then taxes and a house “take” or “vig” are removed. Payoff odds are then calculated by sharing the pool among all placed bets. Usually, this system is used in horse and dog race gambling, or any gambling sporting event of relatively short duration in which participants finish in a ranked order.

Pari-mutuel gambling or off track gambling is frequently state regulated, and offered in so many places where gambling is otherwise illegal – that is why it is doing so well in the World Wide Web. Players can bet on the racing events without actually being present to observe them.

Parimutuel betting is very different from fixed odds betting. With the former, the final payout is not determined until the pool is closed; with the latter, the payout is already pre-agreed at the time the bet is sold.

History

It is said that parimutuel system was invented by the Parisian perfume maker named Joseph Oller in 1865. It happened when a bookmaker friend of his asked him to devise a fair system for bettors or players which guarantees a fixed profit for the bookmaker. The large amount of calculation involved in the parimutuel system eventually led to the invention of the tote board or the totalisator.

The very first totalisator was eventually installed in 1913 at the Ellerslie Racecourse in Auckland, New Zealand. The US first adapted the tote boards in 1933 at the race course in Arlington Park near Chicago, Illinois.

Example of Parimutuel Calculation

The best way to show how parimutuel bets are calculated is by staging a theoretical race. Supposing there is a racing event which has eight possible outcomes, namely:

Outcome 1 = $30.00; outcome 2 = $70.00; outcome 3 = $12.00; outcome 4 = $55.00; outcome 5 = $110.00; outcome 6 = $47.00; outcome 7 = $150.00; and the last outcome would be equals to $40.00. Thereby, the total pool of money for this particular even is $514.00.

Outcomes, by the way, are the “variable” name for the participating, and possibly, the winning horses.

As soon as the racing event starts, wagers will no longer be accepted. This particular event is decided and the winning outcome is determined to be outcome 4 with the $55.00 wager. This is when the payout is actually calculated.

Firstly, the “commission” or “take” or “vig” for the wagering company is automatically deducted from the pool. For example, the state issues a commission rate of 14.25%, whereby $514 minus 0.1424 multiplied by $514 is equals to $440.76.

The remaining amount of money in the pool is then distributed to those who wagered on outcome 4, or to those who bet $55.00 on a ticket. The calculation continues with: outcome 4 is $440.76 divided by $55.00, which would be $8.00 per $1.00 wager. So the pay offs is broadcasted as 8 to 1.

More often than not, betting agencies and bookies, at the close of a racing event will provide approximates for what should be paid out for any given outcome. So if we compute the rest of the outcomes, they will show as:

Outcome 1 = ($30.00) $14.69; outcome 2 = ($70.00) $6.30; outcome 3 = ($12.00) $36.73; outcome 4 = ($55.00) $8.00; outcome 5 = ($110.00) $4.00; outcome 6 = ($47.00) $9.38; outcome 7 = ($150.00) $2.94; outcome 8 = ($40.00) $11.02.

The actual pari-mutuel pool size will often extend into millions of dollars, with many different types of outcomes, and will almost always come with their own set of complex commission calculations.

Internet Marketing

2007-12-10T03:07:19Z

What is Internet Marketing? Well Internet Marketing also known as online marketing or e-marketing, a marketing practice over the internet which use in selling products and services. Internet opens a wide range of opportunity and benefits such as low cost in distributing information and advertisement, can reach a very interactive market and can give quick response.

Due to rampant use of Internet, marketers come up with different internet marketing methods like search engine marketing, display advertising, e-mail marketing, affiliate marketing, interactive advertising, blog marketing, and viral marketing.

Online advertising products, services, and websites, including market research, email marketing, and direct sales are included in Internet Marketing Strategy.

Little information about betting exchange

2007-12-07T01:56:48Z

Do you know that the concept of betting exchange is almost similar to Stock exchange? The only difference between the two is the commodity being traded. On betting exchange you exchange bet while on stock exchange you exchange stocks. A gambling website act as a broker between parties for the placement of bets, most betting on a betting exchange has been a form of fixed odds gambling.

Some betting exchange sites

BETDAQ
Betfair
ehorseX
Fubet
Mybet.com
TradeSports
World Bet Exchange
iBetX

Thanks WIKIPEDIA !!!

Online Transaction Processing (OLTP)

2007-12-07T01:08:18Z

Kanati Inc is one of many software development companies that cater Online Transaction Processing (OLTP). By use of J2EE, We deliver the two key benefits of Online Transaction Processing: Simplicity and Efficiency.

Two Key Benefits

Simplicity

Reduced paper trails and the faster, more accurate forecasts for revenues and expenses are both examples of how OLTP makes things simpler for businesses. It also provides a concrete foundation for a stable organization because of the timely updating. Another simplicity factor is that of allowing consumers the choice of how they want to pay, making it that much more enticing to make transactions.

Efficiency

OLTP is proven efficient because it vastly broadens the consumer base for an organization, the individual processes are faster, and it’s available 24/7.

Source: wikipedia.com

What is J2EE?

2007-12-07T00:42:56Z

J2EE stands for Java 2 Platform, Enterprise Edition, a programming language developed by Sun Microsystems. The Java Platform is a virtual machine, a processor look-alike that translates computerized instructions into functions.

Java language allows cross-platform communication between various kinds of devices. Java portability “WORA” means Write once run anywhere, well for example if programmers develop code on a desktop PC expects it to run even on mobile phones as long as the device is java-enabled. Now you can see that many electronic devices operate using java platforms.

Enterprise Edition, on the other hand is a powerful form of the Java Platform. Sun has created three editions so far, the J2EE, J2ME (pda’s) and J2SE (mobile, laptops and desktop). J2EE is available for free; it can easily download from the Sun Microsystems website.

Trivia about ADW

2007-12-06T01:21:08Z

What is an ADW or Advance Deposit Wagering? Well, ADW means a wager in which a person who has opened an account in advance with a licensee can place bets from this account in person, by telephone or other even online/over the internet.

You can encounter the word ADW in Pari-mutuel, a gambling involves betting on horse or greyhound, harness racing.

For quick view how ADW looks like here are some sites offered Advance Deposit Wagering:

Kanati Inc. A Software development company who write and develop ADW platforms for Premier turf Club

Trivia about Thoroughbred Racing

2007-12-04T02:26:59Z

It all started when English Knights returned from crusades with swift Arab horses. High endurance and speedy horses were products of bred English mares and Arab horses.

During the reign of Queen Anne, horse racing became a professional sport and a public obsession. Elites, nobles and riches gather all together in a racecourse to watch races and wager. During that time, horse racing, horse breeding and horse owning were very profitable. With the rapid expansion of the sport arises the need for a central governing authority. Since 1814, five races for three-year-old horses have been designated as "classics." Three races, open to male horses (colts) and female horses (fillies), make up the English Triple Crown: the Two Thousand Guineas Stakes, run over one mile at Newmarket Racecourse in Newmarket, Suffolk, the Epsom Derby, run over one and a half miles at Epsom Downs Racecourse in Epsom, Surrey; the St. Leger Stakes, run over one mile, six furlongs and 132 yards at Town Moor in Doncaster, Yorkshire.

During early 1800’s, the only thoroughbred that allow to race were those listed in the General Stud book. A thoroughbred horse race meant racing between thoroughbreds whose pedigree is verified and can be traced back to the three original stallions. These stallions were the Byerley Turk, foaled c.1679; the Darley Arabian, foaled c.1700; and the Godolphin Arabian, foaled c.1724.

The Sports of Kings and Noble

2007-12-04T00:45:30Z

Do you know that Horse Racing is also known as the sports of Kings? Well, this competitive racing of horses was came originally from the prehistoric nomadic tribesmen of Central Asia who first domesticated the horse about 4500 BC. An equestrian sports that was first flourished as the sports of noble and kings. Example of this was the Chariot races of Roman times, also the contest of the steeds of the God Odin and the giant Hrungnir in Norse Mythology.

For over a thousand years, modern racing was born and have venue for legalized gambling that penetrated world wide.

TRIVIA about Horse Racing

Horse racing is the second most widely attended U.S. spectator sport, after baseball. In 1989, 56,194,565 people attended 8,004 days of racing, wagering $9.14 billion. Horse racing is also a major professional sport in Canada, Great Britain, Ireland, Western Europe, Australia, New Zealand, South Africa, and South America.

Source of Information:

Wikipedia

Mr.Mike.com

Kanati Inc. The maker of Racing Platforms

Outing of Kanati’s Employees

2007-12-03T00:00:29Z

Outing of Kanati’s Employees

Well well well, it was last Friday, Nov. 30 2007 when we, Kanati employees gathered together to bond with each other at Pansol, Los Banos Laguna. We arrived there at around 9 in the morning. Everyone was excited to sing, to swim, to relax and to play wii. I don’t remember any kill joy employees, we all sung till dawn especially Jhane our accountant, she sung till the break of dawn. On the other side our Java programmers spent much of their time playing wii same with our admin staffs. Ate cherry and Ate fe were in charged on foods. While SEO girls played wii, sung and went swimming. Ooopss KANATI Company outing wont be complete without the first family, our CEO, sir Jimmy Mc coy, The President Ms. Cristi Mc coy and the two cute dogs, missy and Dakota…

Everything went smoothly… See Some of our Pics… I will post after this…

PTC: pari-mutuel national account wagering provider.

2007-11-28T01:57:30Z

Pari-mutuel or paramutuel is one form of wager placement wherein all the bets are pooled together before an event. The subsequent accumulation makes the grand total for the winning purse, and will be distributed among players who have winning tickets. The players’ “win” depends on the type of wagers they have placed in the first place. This type of wager system is quite common among sports events, but none so as that found in all horse racing dealings.

Pari-mutuel derives its meaning from a French term, which means “group betting.” Essentially, players who subscribe to this kind of wager placement hopes of getting a large return after each race. Before the game begins, a tote board (or totalisator) continuously calculates odds and potential returns as more bettors place their individual wagers. The return is actually dependent on how much money is bet in total. Many consider pari-mutuel betting as the only legal betting system accepted in the world.

PTC or Premier Turf Club, whose website is located at http://www.premierturfclub.com, is a U.S. Based pari-mutuel national account wagering system based in Fargo, North Dakota. PTC’s wagering platform is quite different from all other internet betting sites because it combines state-of-the art technology with the easy functionality of a personal bookie. Betting online at PTC’s website is literally like betting at the horse racing site minus the hassle of going to the venue; plus a player gets all the time he needs to set up his betting strategy.

Unlike most offshore bookmakers that do not subscribe to the pari-mutuel payment scheme, PTC actually pays the tracks for the right to accept simulcast wagers on their races and is allowed to combine those wagers with the on-track pari-mutuel pools. Premier Turf Club also does not charge wagering fees, and after successful campaigns on the race tracks, it offers cash rewards to their winning members: redeemable via checks, ACH (Automated Clearing House) fund transfer or wire transfer.

PTC also showcases a reliable tote board that posts current odds for individual runners of each race. The information on the boards is more than accurate, and players can easy see the possible dividends if the runners they are backing up meet all expectations. Aside from that, this computerized tote board also processes all pari-mutuel wagers, issues flexible tickets, and eventually awards winning tickets. PTC has one of the most secure totalisator systems in the world.

Kanati's Affiliate ID

Kanati's websites

Words frequently use in Horse betting

2007-11-26T05:16:00Z

Off-track betting

(or OTB) refers to authorized gambling on horse racing outside a race track.

Totalisator'

A totalisator' or totalizator is the name for the computerized system which runs pari-mutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets.

Dutching

In gambling, Dutching is sharing the risk of losing across a number or runners by backing more than one selection in a race or event. The process calculates the correct stake to place on each selection so that the return is the same if any of them wins. This is not to be confused with what constitutes a Dutch book which is when a bookmaker goes overbroke (the opposite to overround).

Race track

A race track (or 'racetrack' or 'racing track') is a purpose-built facility for racing. This racing can be of animals (eg. horse racing or greyhound racing), automobiles, motorcycles or athletes. A race track may also feature grandstands or concourses. The term racecourse is also used for horse-racing facilities. Race tracks built for bicycles are known as velodromes.

Gambling odds

In gambling, the odds on display do not represent the true chances that the event will occur, but are the amounts that the bookmaker will pay out on winning bets. In formulating his odds to display the bookmaker will have included a profit margin which effectively means that the payout to a successful punter is less than that represented by the true chance of the event occurring. This profit is known as the 'over-round' on the 'book' (the 'book' relates to the old-fashioned ledger that wagers were recorded in and thus gives us the term 'bookmaker') and relates to the sum of the 'odds' in the following way:

In a 3-horse race, for example, the true chances of each of the horses winning based on their relative abilities may be 50%, 40% and 10%. These are the relative probabilities of the horses winning and are simply the bookmaker's 'odds' multiplied by 100 for convenience. The total of these three percentages is 100, thus representing a fair 'book'. The true odds of winning for each of the three horses is Evens, 6-4 and 9-1 respectively. In order to generate a profit on the wagers accepted by the bookmaker he may decide to increase the values to 60%, 50% and 20% for the three horses, representing odds of 4-6, Evens and 4-1. These values now total 130, meaning that the book has an overround of 30 (130 − 100). This value of 30 represents the amount of profit for the bookmaker if he accepts bets in the correct proportions on each of the horses. The art of bookmaking is that he will take in, for example, £130 in wagers and only pay £100 back (including stakes) no matter which horse wins.

Profiting in gambling involves predicting the relationship of the true probabilities to the payout odds. If you can consistently make bets where the odds of paying out are better (pay out more) than the true odds of the event, then over time (in theory) you will come out ahead.

The odds or amounts the bookmaker will pay are determined by the amounts bet on each of the respective possible events. They reflect the balance of wagers on either side of the event, and include the deduction of a bookmaker’s brokerage fee (“vig” or vigorish).

Parimutuel betting

One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools; or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

SOUCE:

Wikipedia:

http://en.wikipedia.org/wiki/Betting#Parimutuel_betting

http://en.wikipedia.org/wiki/Betting

http://en.wikipedia.org/wiki/Odds

http://en.wikipedia.org/wiki/Off-track_betting