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The rising human cost of sports betting

nytimes.com

121–130 of 337 posts

Re: The rising human cost of sports betting

#121

I'm pretty Laissez-Faire about things, but a recent interaction with gambling is making me reconsider: My friend got a lot of free credits from the major sports books and wrote some code that he felt could generate a profit. We all threw in a little bit of money and let the program do what it does. Within a month we started doing 1k a day in profit on 3k wagered. Right as we approached 30k in profit, every major book…

Did you guys achieve this by creating a model for all kinds of different sports or did you hunt the arbitrage from different betting providers?

It only works for one sport and requires analyzing a ton of historical data and prop bets from all of the books.

Re: The rising human cost of sports betting

#122
post #103

Earlier quoted context omitted.

The harm we are reducing is decreasing the amount of drug users, and the attendant crime and degradation that comes with them, within the environment that non-drug users have to live in. We'd be reducing the harm to them and in a subjective way, to the overall community. That some people's "harm" will increase is obvious but this is a price many are willing to pay to achieve a better society for themselves. In summar…

>In summary, "we will hang you" isn't "harm" but justice Most of the harm coming from drug use is coming from prohibition. Hanging drug users or drug dealers is not justice, it's a bigger crime than any type of drug deal. >Additionally, there is a hierarchy of drugs, and in US the biggest problem is hard drugs / opiates. We should focus enforcement and punishment efforts at those, while also not enabling the addictio…

Hanging drug dealers isn't worse than the harm they cause to the community, and many individual lives.

>Purdue Pharma

Regulation against them and restrictions on opiates has helped to decrease that form of opiate use.

Obviously, Purdue Pharma executives should be harshly punished, much more than they have been. Why shouldn't they? They perpetrated a great crime and suffering, willingly lying and causing addiction, to so many people. That they should suffer for it and that there is a great need to deter other drug companies / doctors from doing the same is abundantly clear. It is not mutually exclusive from also targeting street drug dealers of fentanyl and other synthetic opiates which is the problem now though.

Re: The rising human cost of sports betting

#123
post #18

I think it's just a matter of time before we see a Super Bowl or World Series thrown due to the legalization of Sport betting... We have been here before and seen all of this before and it's really hard to believe history won't repeat itself. It's stupid all the way down.

My conspiracy theory is that if the US ever makes the World Cup Final, it will 100% be thrown

Re: The rising human cost of sports betting

#124
post #72

Earlier quoted context omitted.

> Effectiveness of prohibition is determined in large part on severity of punishments. The punishments for drugs are pretty severe in much of the US (multiple years in prison). Are you advocating for even harsher punishments than that?

Well, yes I am. But is that relevant to the question at hand: if the punishments were more severe, would they decrease drug selling/use? How about if we banned Narcan, do you think that would affect the total number of opiate addicts long term? What if we cut off the hands of drug dealers? Or applied the death penalty to drug dealers? What if we rounded up all the addicts that commit so many crimes in cities today, a…

Maybe you're on to something. Just think about how much drug use we could stop if we just rounded up everyone in the country and executed them!

Re: The rising human cost of sports betting

#125

Promotion of gambling should be likened to promotion of cigarettes. It should be illegal to advertise gambling, but I don't think it should be outlawed to gamble. People should be able to choose how they live their lives, but we should do all that we can to prevent mass manipulation through adverts in industries that are known to be harmful. I also think that alcohol and e-cig advertising should be outlawed as well.

Every movie, series or other thing where people grab the bottle to handle their heartache, happiness or socializing is an advertisement that you should drink.

It's going to need a huge transformation in society to change those advertising channels. Just like the movie cig industry was a long term process.

Re: The rising human cost of sports betting

#126

I’m glad to see a report on this - I hate to see the NFL actively promoting gambling with their biggest stars lining up for the commercials. I’m sure in their eyes it will “promote” the game but it will ruin the lives of many. My grandfather had a gambling problem and was an easy mark in his latter years - something like this would have been a dark pit of cyclical losses and broken relationships

The biggest problem IMO is that it is impossible for the sports industry to go all-in into betting while also remaining neutral as far as the games themselves go.

Re: The rising human cost of sports betting

#127
>The rising human cost of

There are many, many vices that people struggle from such as drinking, drugs, obsessions like food, and just obsessive spending in general. There are just a lot of people that cannot control some aspect of their life, but they generally make up a relatively small minority. These types of articles are an attempt to guilt-trip the vast majority of people that generally excel at life, because they use good judgement and rational thinking.

There are always going to be people that fall by the wayside, so I'm not going to feel guilty enjoying a little entertainment every now and again that a very small minority of people struggle with.

Re: The rising human cost of sports betting

#128

Earlier quoted context omitted.

Seems like it is much harder to get drugs in Singapore than in Seattle. Prohibition might not be absolute, but it seems effective at reducing the number of people using drugs. Is that a good or bad policy goal, and is it worth the costs? That a political question, but the answer to that is separate from whether prohibition works or not.

>That a political question That's not political, it's science, statistics, facts. Prohibition = more overdoses, more violence, more untreated addiction, younger users, richer criminals, more abuse from the police, more corruption, less incentive to educate yourself/learn a trade when you come from a poor area, more likely to be BORN addicted to drugs because your mom was terrified of getting help before/when she was…

It's unclear that the numbers are in your favor. As far as I can tell, as of 2018, the US had 600 opiate users per 100k, Portugal had 250, and Singapore had 30.

https://www.apa.org/monitor/2018/10/portugal-opioid https://www.washingtonpost.com/opinions/singapore-is-winning...

Re: The rising human cost of sports betting

#129
post #116

Earlier quoted context omitted.

Yes I think cutting off arms would discourage drug use to some extent, but I think the price is too high. At some point a policy like that creates more suffering than it prevents. From your example on throwing people into the ocean, it sounds like you agree that a tradeoff exist here. Unless you actually think killing drug users is a good solution to reduce drug use? The question was never whether it was possible to…

>was never Not true and there are many in this thread and elsewhere for years on the internet saying exactly this. Thank you for conceding my point against the ridiculous argument that "prohibition is ineffective"... that no it is, it's only a matter of degree of punishment, which is what I said. >more suffering than it prevents This only matters in some utilitarian conception where all net suffering or utility or wh…

> Thank you for conceding my point against the ridiculous argument that "prohibition is ineffective"

It depends what you mean by effective and ineffective. Nuking San Fransisco would prevent tons of drug use, but is not an effective way of solving society's ills.

> This only matters in some utilitarian conception where all net suffering or utility or whatever is created equal.

Drug laws not only hurt drug users, but further criminalize nonviolent users who commit more crimes, fund organized crime (here and especially in other countries), cost billions of dollars to society in court systems, prisons, police officers, and lost productivity.

If your solution to that is literally kill people without a trial for drug use then some of those clearly wouldn't apply, but that's honestly a pretty sick worldview. I'm not sure if you're younger or maybe lived a more sheltered life and weren't exposed to drug users or similar groups of people, but you might change your tune if you knew someone affected by it (whether they were a user or the parent/child/spouse/friend).

I wonder what you think of other countries which have much lower rates of drug abuse yet don't impose punishments as harsh as the US?

Re: The rising human cost of sports betting

#130

I'm pretty Laissez-Faire about things, but a recent interaction with gambling is making me reconsider: My friend got a lot of free credits from the major sports books and wrote some code that he felt could generate a profit. We all threw in a little bit of money and let the program do what it does. Within a month we started doing 1k a day in profit on 3k wagered. Right as we approached 30k in profit, every major book…

If anybody is further interested in this, a recent YouTube video by Spencer Cornelia went behind the scenes of a similar operation that is still running:

https://www.youtube.com/watch?v=7N05vGcw_tI

They are betting the spread between different books and most of their operation involves keeping accounts live and with placement capacity

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