Live data from Hacker News

Pro bettors disguising themselves as gambling addicts

bloomberg.com

191–200 of 311 posts

Re: Pro bettors disguising themselves as gambling addicts

#191
post #188
post #17

The article appears to break gamblers into 3 groups. 1) casual players 2) problem players 3) professional gamblers. so basically casual players gamble something like 50 bucks a year. Problem gamblers get money however they can (and although it's unstated and I have no evidence, I think this is where the actual money comes from). And finally, people that can snipe the mispriced bets, and make a lot of money. Feels sor…

I highly, highly doubt that the share of people who consistently stay in category 1 year-over-year is more than a couple percentage points. Lots of people put $50 in to try the whole thing out, lose, then never return. Extremely few people will then return in 2025 and be like "lets do that again". I cannot for the life of me understand why these apps can't make money off the pros, and instead need to ban them. Ignori…

In sports betting you are betting against the house. If the sportsbook sets a bad line, you can lock it in and make money off of it.

Horse racing is what you describe, parimutuel, where the house just takes a commission. But the odds shift even after you place your bet. Very different for traditional sports betting.

Re: Pro bettors disguising themselves as gambling addicts

#192
post #167

Earlier quoted context omitted.

Gambling is the only way for some of us to make Sportsball interesting, and attempt to fit in with the absurdist normie culture in which we live. Realistically, there's nothing particularly interesting about the Dallas Frackers versus the Washington Rentseekers. But if you have money on the outcome, watching a game (with a sufficient supply of alcohol) is actually bearable. Edit: I'm explaining a real, actual reason…

If you loathe sports that much why are you forcing yourself to watch them? "Fitting into absurdist normie culture" is ludicrous. Are you not capable of making friends without drunkenly feigning interest in their hobbies?

Short answer: No, I'm not. People are generally extremely intolerant of others who deviate slightly from the norm. Having friends is a fun fantasy, though.

Re: Pro bettors disguising themselves as gambling addicts

#193
post #189
post #53

The fact that ESPN itself has a sports betting app tells you all you need to know about the perversion of sports now that gambling is blessed by the government. I think I can live with the legalization of sports betting if there are strong restrictions against marketing and advertising. If you want to ruin your life that's your decision, and you can always just take the same amount of money and bet it on the stock ma…

Hot take: all advertising for any kind of gambling should be banned, and online gambling should be outright prohibited

The challenge is defining gambling, no? I agree with you, it's easy to determine all of the nasty gambling now. But by the time you know it's gambling as in addiction versus gambling as in a flawed but interesting part of a game, it's too late.

Re: Pro bettors disguising themselves as gambling addicts

#194
post #167
post #61

Earlier quoted context omitted.

I'm surprised that people seem to just now realize that sports betting is a bad idea. As you said, the worst aspect is the large amount of marketing and advertising these platforms receive; I wouldn't care if they weren't pushed so heavily.

Gambling is the only way for some of us to make Sportsball interesting, and attempt to fit in with the absurdist normie culture in which we live. Realistically, there's nothing particularly interesting about the Dallas Frackers versus the Washington Rentseekers. But if you have money on the outcome, watching a game (with a sufficient supply of alcohol) is actually bearable. Edit: I'm explaining a real, actual reason…

> I'm explaining a real, actual reason for the value of sports betting for some people, but it seems that the Sportsball enthusiasts don't like desecration of their Holy Church. I apologize.

Seems more like you are seething.

Re: Pro bettors disguising themselves as gambling addicts

#196

Earlier quoted context omitted.

It has a terrible potential to corrupt sport. When you can bet a lot of money on how long a college players plays, or how many points they get in a particular game, what's to stop them from having a relative make a bet and they just fake a cramp? The stock market is heavily regulated. I don't think you should ban sports betting, because like many vices it's easier to control if it is legal. According to Nate Silver,…

NBA bans Jontay Porter after gambling probe shows he shared information, bet on games. “Porter took himself out of that game after less than three minutes, claiming illness, none of his stats meeting the totals set in the parlay. The $80,000 bet was frozen and not paid out, the league said, and the NBA started an investigation not long afterward.” https://apnews.com/article/nba-jontay-porter-banned-265ad5cb...

It seems crazy that he would risk his career over a bet considering that his regular player salary was so much higher than $80K.

Re: Pro bettors disguising themselves as gambling addicts

#197

Earlier quoted context omitted.

>It has a terrible potential to corrupt sport. When you can bet a lot of money on how long a college players plays, or how many points they get in a particular game, what's to stop them from having a relative make a bet and they just fake a cramp? Or get assaulted or murdered, internet death pool style? All kinds of really fucked up incentives are created by these legalized betting apps.

I wonder how many people out there would take an assault charge to win a bet. Since there’s a market you could even get investors. Get $10million together, bet it with high odds, take 25% cut, spend 10 years in jail, live out the rest of your life in comfort. Is any of that illegal besides the assault itself?

I'd think you'ď be VERY hard pressed to bet $10 million dollars, but I don't know that.

Re: Pro bettors disguising themselves as gambling addicts

#198
post #167
post #61

Earlier quoted context omitted.

I'm surprised that people seem to just now realize that sports betting is a bad idea. As you said, the worst aspect is the large amount of marketing and advertising these platforms receive; I wouldn't care if they weren't pushed so heavily.

Gambling is the only way for some of us to make Sportsball interesting, and attempt to fit in with the absurdist normie culture in which we live. Realistically, there's nothing particularly interesting about the Dallas Frackers versus the Washington Rentseekers. But if you have money on the outcome, watching a game (with a sufficient supply of alcohol) is actually bearable. Edit: I'm explaining a real, actual reason…

Why do you bother even watching it at this point? I think I watched exactly one soccer game in last 5 years (it was a final of something big, can't remember now), there are a lot of other interesting activities in life.

Re: Pro bettors disguising themselves as gambling addicts

#199

Much like many substance use disorders, I am inclined the to believe the substance is merely a self-medication technique for a deeper rooted issue. I am curious what about the gambling makes it so addictive? I refuse to believe that people are addicted solely because of bro-science's elementary understanding dopamine. What makes people continue despite the negative consequences in their lives? Is it the hope? The hop…

> There has to be something deeper to gambling addiction. If so, then what is it?

I believe that B.F.Skinner and his pigeons answered this question.

As a legend tells us, once upon a time Skinner's apparatus that controlled reinforcements for his pigeons got broken. But Skinner didn't noticed it and went home to sleep. In the morning when he came to his lab, he watched how a pigeon did weird things in his cage. The pigeon walked in circles, dragged one of his wings, and it was like the pigeon danced some weird dance. Skinner was very interested what is wrong with the pigeon, and it turned out that his apparatus gave random reinforcements to the pigeon all the night.

Pigeon pushed the lever, and sometimes it got something crunchy, but mostly it didn't. Naive person might think, that it would lead pigeon to get frustrated and tired from the lever, but instead the pigeon doubled down and... Let me anthropomorphize to make things easier. It was like pigeon invented all kinds of omens and rituals to make the lever work. Like "I dragged my wing last time when lever had worked, so I'll drag my wing next time...", "ohh, it didn't work, lets try again, and again, ..., Yeah! it worked again, now I was standing on one leg, it seems to be the key to success".

Skinner was very intrigued and he developed "variable ratio of reinforcements", which led him to sharpen his methods and he easily could turn a pigeon into a maniac that push lever obsessively and just can't stop. One of the key findings was that less frequent and seemingly random rewards working much better than deterministic rewards on each push of the lever. When lever "just works" pigeon gets as much rewards as it needs and then goes to sleep. But when lever works sometimes, pigeon pushes the lever more and doesn't stop when it got all it needs.

Why brains do this to animals? I don't know what psychology thinks about it, I think that there are two possible (not mutually exclusive) explanations:

1. curiosity, a drive to learn how to control the reality around you. Maybe if you spend more time with the lever, you will learn how it works? Maybe you can learn how to get higher frequency of rewards? It would be beneficial.

2. it is a mechanism to create seeking behavior. If you get reward when doing something, then your brains would better believe that doing this is an interesting pastime. If rewards are rare, then your brains need to believe that it is a very interesting pastime, or you'd get bored in no time and die from hunger.

When I was teen I often went with my father to pick mushrooms in the forest. It is a pastime which teaches you in no time at all to look everywhere for mushrooms. You can chat, but your eyes constantly searching the surroundings, your legs wander around to look behind or underneath of bushes. Now, when I'm in a forest, I habitually look for mushrooms, I feel urge to wander off the trail to check on something looking like a dead leaf: maybe it is a mushroom? This behavior is beneficial for animals and the ability to develop such a behavior is beneficial also. Gambling just exploits it.

Re: Pro bettors disguising themselves as gambling addicts

#200

These apps should be banned. Gambling is a social ill with such a limited upside and so much harm it can't really be justified

At the very least you should have to go to a physical location like a casino, having this stuff in your pocket at all times is insane.
Post reply on HN