McIngvale placed several bets totaling $10 million during the season on his hometown team, the Houston Astros, winning the World Series. The sports bets act as insurance, as he offers refunds to buyers should a certain team win a title.

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¡°Psychologically, it¡¯s a little different,¡± Fong said. ¡°You¡¯re not necessarily betting to make money; you¡¯re betting to make yourself look smarter.¡±


China tried to pressure the Philippines into banning POGOs, but officials didn¡¯t listen as the PHP7.18 billion (US$149.3 million) in revenue they generated was too good to ignore.


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