Sphinx Fortune

What is Sphinx Fortune?

“Markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes and daily tempts the occupants,” Buffett wrote, noting that extreme volatility makes identifying sound, long-term investments vastly more difficult.

“One fact of financial life should never be forgotten. Wall Street–to use the term in its figurative sense–would like its customers to make money, but what truly causes its denizens’ juices to flow is feverish activity. At such times, whatever foolishness can be marketed will be vigorously marketed–not by everyone but always by someone,” Buffett warned.

Buffett was not always entirely anti-gambling. Before commercial sports betting expanded across the United States, he regularly offered $1 million annually to any Berkshire Hathaway employee who submitted a perfect NCAA March Madness men’s basketball bracket.

About Sphinx Fortune

Kesitilwe highlights a recent study by Gaming Compliance International that estimated around 77% of Africa’s gambling market is offshore.

He believes the success of Africa Safer Gambling Week will largely be assessed on whether that channelisation improves by the next edition.

He warns governments and policymakers often misunderstand the primary causes of problem gambling, and therefore enforce measures that squeeze licensed operators and drive the illegal market.

What is Sphinx Fortune?

Van Dijk also voiced his opinion that all gambling advertising should be banned, including for lotteries and land-based casinos.

He also questioned the government’s involvement with the state-owned entities Holland Casino and Nederlandse Loterij, especially in its assessment on how to limit gambling harms.

Holland Casino CEO Petra de Ruiter last week told iGB that she was proud of the player protection efforts in place across Holland Casino’s products.