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Young men face high risk for gambling addiction as sports betting surges:experts

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Re: Young men face high risk for gambling addiction as sports betting surges:experts

#21
Tangential comment, I'm a passionate follower of formula one and have realised that basically anything advertised on F1 cars is "bad". Cigarettes are the obvious historical example, FTX is the more recent one.

There's many that are socially acceptable at the moment but only with the caveat of either "in moderation" or "for responsible adults": energy drinks, crypto, etc.

Google Chrome is one that a decent debate could be had about.

Microsoft Dynamics might be the exception that proves the rule... But I've never worked out what the hell the product actually is.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#22
post #2

I find it difficult to watch any sports these days because you are just constantly bombarded with sports betting ads and tie-ins. I have absolutely no interest in throwing my money away on sports bets and yet even I find myself wondering if I should try it out or maybe I could just open a trial account. It's dangerous and disappointing that this is the direction that all the major sports leagues are heading.

I agree. I don't have a moral problem with sports betting but it's not only commercial breaks, it's completely invaded the content itself. Sports commentary has become inseparable from betting and though I have no temptation, every minute of the content feels like predatory advertising. It's not fun anymore.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#23

I don't understand. There's obviously a market for it. Can't folks decide that the price is too high? Are we really willing to accept that agents aren't rational? Wouldn't that have severe implications for other markets?

There is absolutely no reason to be unregulated free-market absolutists about addictive behaviors, other than blind ideology. Regulations on gambling and gambling advertisements have been around for a long time because we know that people do not act rationally when it comes to this activity. This is not dissimilar to how legalized drugs like tobacco are treated.

The question for society to answer is "is the social costs of gambling addiction (which don't remain localized to the gambler themself) worth what we gain from unrestricted advertising?". I personally would say "hell no". Likewise with drugs, let's not eliminate legal methods. That just forces it underground. But that doesn't mean it should be promoted, or plastered all over billboards, arenas, and stadiums.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#24
post #4

Not that dissimilar from unfettered options trading on mass-market brokerage apps like Robinhood...

Cryptocurrency trading & high risk stocks was part of the dataset of the study[1]. They also compare it to other gambling activities and risk groups further down.

[1](pdf)https://socialwork.rutgers.edu/sites/default/files/2023-10/P...

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#25
post #19

Earlier quoted context omitted.

> Are we really willing to accept that agents aren't rational? Wouldn't that have severe implications for other markets? Is this a serious question? Of course we are—gambling has historically been regulated or outright illegal in cultures the world over.

I'm assuming it's satire, but just in case, there's a whole body of economics built around recognizing market participant irrationality and trying to cope with it given Econ 101 assumptions.

I'm curious, what are they? I sense there's something for me to learn here.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#26
post #21

Tangential comment, I'm a passionate follower of formula one and have realised that basically anything advertised on F1 cars is "bad". Cigarettes are the obvious historical example, FTX is the more recent one. There's many that are socially acceptable at the moment but only with the caveat of either "in moderation" or "for responsible adults": energy drinks, crypto, etc. Google Chrome is one that a decent debate coul…

Dynamics is Microsoft (somewhat poorly) making a Salesforce for people who are all-in on the Microsoft ecosystem. In terms of collective human suffering caused per year of existence I would say it's on par with the rest of the stuff you've mentioned.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#27
post #21

Tangential comment, I'm a passionate follower of formula one and have realised that basically anything advertised on F1 cars is "bad". Cigarettes are the obvious historical example, FTX is the more recent one. There's many that are socially acceptable at the moment but only with the caveat of either "in moderation" or "for responsible adults": energy drinks, crypto, etc. Google Chrome is one that a decent debate coul…

I made this comment purely from my impressions of the team's major sponsors and the ones that I've noticed. Realising that I'm rather advertising blind these days (like all of us, I figure), I thought I should actually dig up a list and have more of a think about this idea.

https://formularapida.net/f1-2023-list-of-partners-sponsors-...

Safe to say, my comment above is hyperbole. Still, I wonder how many of the companies in the linked list will be considered "bad" in 10+ years.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#28

I don't understand. There's obviously a market for it. Can't folks decide that the price is too high? Are we really willing to accept that agents aren't rational? Wouldn't that have severe implications for other markets?

> Can't folks decide that the price is too high?

If you look at drug addicts as a group, the answer is often a direct and emphatic “no, they can’t” - the drug alters the way they perform that price calculus such that many of them will spend their last dollar, go deeply in debt, and do terrible things to continually chase a high. Drug policy has had many failures in the US, but there does seem to be a correct nugget of recognition that “some drugs seem to be fundamentally destructive to those that get addicted, and to the broader society that has to deal with the consequences of those who are addicted”.

Gambling in many people seems to have the same effect on altering price calculus in a way similar to addictive drugs, which at leasts motivates a reasonable discussion whether benefits of allowing it exceed the harms it causes those individuals and society.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#29
In the mid-90s, a local dial-up ISP sent their support calls to me. I once put a local retiree couple online and went on my way. About 6 months later I came back to fix their connection which he promptly tested at a gambling site.

I also did service calls at their friends and neighbors. They said that since getting online he'd gambled away their retirement, maxed out their credit cards, got new cards & maxed those, took out a 2nd mortgage and gambled that off. That they'd lose the house was a certainty. The wife may not have known yet just how bad off they were.

I don't have a more depressing tech story.

Re: Young men face high risk for gambling addiction as sports betting surges:experts

#30

I don't understand. There's obviously a market for it. Can't folks decide that the price is too high? Are we really willing to accept that agents aren't rational? Wouldn't that have severe implications for other markets?

That simplification seems counterproductive. There is obviously a spectrum of rationality that gets compromised by addiction. Be it heroin, alcohol, sugar or gambling.

There was a social engineering talk a while back that i cant find anyone where some sysadmin explained that just informing users they wanted to do something stupid was far more beneficial then just blocking their attempts.

Most of these addiction industries are profitable through addicts, the amount of cheap hard liquor bought by non-addicts is neglect able. Maybe just communicating with these people is far more sensible then banning something that people can also consume reasonably. Maybe somebody that spend his last 3 months rent on gambling wants to talk about how to not do that. While the notice on every visit is quite annoying.

Even if you cant let go of the demand for judicial intrusion altogether, maybe start with something like a one week detox after x months of behavior typical for an addict that lost control. It would likely get a lot of people over the diet hump they have been battling for years and sobering up long enough to reevaluate your life choices might not be the worst thing to do.

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