Realtime Gaming
Realtime Gaming (RTG) is an online casino company developing download-based casino software, licensed by various operators running their own branded RTG-powered casino sites. The company was established in Atlanta, Georgia in 1998, but moved all development to Heredia, Costa Rica in 2007-2008.[1]
The company was acquired in January 2007 by Hastings International, Curaçao, Netherlands Antilles, a company managed by a corporate services provider called HBM Group. HBM Group describes itself as "the premier provider of international financial services for establishing trusts and foundations; establishing and managing legal entities; and tax and estate planning".[2]
Caribbean 21 controversy
In 2004 the company hit the news when a player won $1.3 million from a $1,000 deposit, playing Caribbean 21 for high stakes at Hampton Casino. The same player also won $96,000 at Delano casino, another RTG-powered site.
The player was accused of cheating by the casino, who said he used a robot (automated playing program), and that he would not be paid.[3] Since the game has a casino advantage (albeit a low advantage, somewhere over 0.1% [4]), the casino should still have held the edge, though good luck can overcome an edge in the short and medium-term. The details of the player's final settlement with the casino were never published. RTG subsequently limited the maximum bet size of the game to $5, before removing it entirely.[citation needed]
Operators
One of the largest RTG casino operators was the Crystal Palace group, mooted for a £140m flotation on London's AIM market in 2005.[5] The group, owned by South African Warren Cloud, made a pre-tax profit that year of £20.4m. Cloud's casinos were the subject of numerous complaints particularly over payment of players who accepted bonuses from the casino. Cloud died suddenly on his yacht off Ibiza in July 2008, aged 34.[6]
Aside from the Crystal Palace group, other RTG casinos have been the subject of criticism. The Casinomeister website maintains a list of RTG casinos, which lists several sites as 'rogue'.
Software features
The company indicates that operators are able to choose between payout settings for their slots [7] and video poker games.[8] They have expressed intentions to limit operator liability for a single game to $50,000 by default, by reducing maximum bet sizes.[9]
Some RTG casinos offer progressive jackpot games with jackpots that are pooled between all the different casinos that offer these games. The largest of these jackpots are usually Jackpot Piñatas and Aztec's Millions. Compared to similarly sized multi-million dollar jackpots offered by competing game developers such as Microgaming, Playtech, or Net Entertainment, these jackpots are rarely won and their slow rate of increase suggests that they are not particularly popular.[10] In addition the non-progressive RTG "Real Series" slot machines may be configured with tiered random progressive jackpots that are local to a specific casino, or a group of casinos that are run by the same operator. These local jackpots can be won randomly and independently of the alignment of symbols on the game reels on any spin. Operators are able to configure the jackpots on a per game basis, or group several games together in order to contribute to a shared local jackpot.
References
- ↑ http://www.realtimegaming.com/newsletter/36thissue.html
- ↑ http://www.hbmgroup.com/aboutus-international-business-solutions.html
- ↑ http://www.msnbc.msn.com/id/4449401 Bettor wins $1.3 million; Net casino won't pay
- ↑ http://wizardofodds.com/caribbean21
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