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Polymarket has flooded social media with deceptive videos by paid creators

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Re: Polymarket has flooded social media with deceptive videos by paid creators

#261

Post by streetfighter64 »

bdangubic wrote: post #70
ExpertAdvisor01 wrote: post #69

Earlier quoted context omitted.

This would just push everyone to unlicensed casinos/bookmakers . Means no tax revenue + even worse player protection.

make this severely illegal with minimum two decades behind bars and what how they disappear… this is a very solvable problem which no one wants to solve

People have spend decades in prison for selling weed. Now it's legalized in more and more countries. Making things people like illegal rarely works, and it's far from a "solvable problem". Don't get me wrong, gambling is very bad, but if we were to analyze it statistically I think alcohol is way worse for society at large. And we all know how making alcohol illegal went.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#262

Post by expedition32 »

nairboon wrote: post #175
kortilla wrote: post #161

Earlier quoted context omitted.

It works just fine. It’s not a casino in the regular sense because you’re betting against other people, not the house.

In a casino you can bet against other people too. Nonetheless, the house always wins and takes its cut.

With gambling you should always play for entertainment. If you play to win you've already lost.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#263

Post by zipy124 »

cjrp wrote: post #219
manwithopinions wrote: post #72

Earlier quoted context omitted.

The U.S. is quite far behind the rest of the world on sports betting, which means you don’t even need to imagine, we know from other countries that it doesn’t end well. The most worrying aspect is, the current U.S. government has no interest in the regulations that have helped minimise the problems in other countries. The U.K’s highest earner for a few years running was the founder of a U.K. betting site, she had som…

> Her salary of £421 million in 2020 was 50% higher than it was in 2019, and higher than all FTSE 100 Index CEOs combined.

Whilst it is technically a salary, since the business is wholly owned by her and her family it is effectively a dividend, so it isn't quite accurate to compare it to CEO's of non-wholly owned private or public companies. Other CEO's might have gotten paid more since they might own enough stocks in the company to receive dividends, or share awards etc...

Re: Polymarket has flooded social media with deceptive videos by paid creators

#264

Post by streetfighter64 »

walthamstow wrote: post #223
jmcgough wrote: post #99

Earlier quoted context omitted.

The live scammers targeting kids are pretty vile: https://www.youtube.com/watch?v=NYTPI57GLac Seems like it's just a game of whack-a-mole, nothing is really being done to stop scammers from making new accounts and continuing their scams.

The only defense is parenting. And no, I'm not one of those childless people who tells parents to parent better.

"Parenting" is a nebulous concept and at least to me, it also includes pushing for better laws for children. Nobody would think it's reasonable to allow stores to sell cigarettes to children and tell parents "if you don't like it, just don't let your kids smoke".

Re: Polymarket has flooded social media with deceptive videos by paid creators

#265

Post by xpct »

Zealotux wrote: post #193
mastermage wrote: post #181

the fact that apps like Polymarket seem to be legal is absolutely crazy to me.

I was baffled to see gambling completely take over advertising in CSGO years ago with no one batting an eye, Valve also had its share of responsibility with loot cases but they have such a great reputation it's difficult to call them out on that.

Since ublock stopped working on twitch, I've learned that all ads they show for me are localized gambling ads, and it's sickening.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#266

Post by watwut »

maxbond wrote: post #95
embedding-shape wrote: post #59

Earlier quoted context omitted.

This was my experience trying out "traditional betting" for the first time with Betfair last Worldcup, and some other platform I tried out before as well. Not sure what Kalshi/others are doing that is so different?

If you're going to gamble, it's probably for the best that your counterparty doesn't also control the platform. I'm not saying that justifies being able to gamble frictionlessly, but it is marginally less exploitative. Eg, back in the day bucket shops (which sold binary options, like prediction markets do) would increase the spread in proportion to their assessment of your skill such that you would lose even if you w…

Futures role is not "generate real time estimates of the probability" and never was. They have two roles: actual contracts to deliver later at set price and high risk trading (yes, some peoples use of it is gambling). Futures markets at do in fact have the actual market component. Prediction markets don't.

If you want meteorological prediction, you are way better off buying meteorological prediction from a company that sells meteorological predictions.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#267

Post by weird-eye-issue »

brador wrote: post #212
weird-eye-issue wrote: post #200

Earlier quoted context omitted.

Not necessarily, I mean if you buy a in-game item or currency that wouldn't be a cash advance so with this they could just say you bought $20 worth of credits and since you're buying credits that could be considered a good.

That would be purchasing a license (service). Gambling is always classed as a cash advance. The gift cards trick has been tapped and closed, the credit companies figured it out decades ago.

What if the site allows you to purchase a digital asset such as a CS2 skin which you can then immediately sell back to them at the same price you to get credits in your account to gamble?

Re: Polymarket has flooded social media with deceptive videos by paid creators

#268

Post by xpct »

cogman10 wrote: post #25

All these gambling apps need regulation. And I fear they are buying politicians precisely so that doesn't happen. If I were to have my way, I'd put a law in place that limits bets to $5 max and monthly bets to $150 per month. Letting them go higher encourages some of the worst aspects of society. We will see crazy things like athletes being injured or murdered in order to win bets. We are already seeing crazy things…

I'd say this goes for more than gambling. Since digitalization, we've removed a lot of friction from depraved behavior, and regulation hasn't caught up to it yet.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#269

Post by expedition32 »

aucisson_masque wrote: post #147

> He compared the videos to fast-food commercials, where food can appear more appealing than it does in real life. > “We’re depicting what actually happens,” he said. The cope is real. They all know they are destroying lives by promoting gambling to young people and eventually some of them are going to overspend and get addicted. But yeah, it's just like an ad for a burger

It is time to admit that the Chinese were right when they built their great firewall.

You either protect yourself from America or your civilization is lost to the void.

Re: Polymarket has flooded social media with deceptive videos by paid creators

#270

Post by TeMPOraL »

expedition32 wrote: post #262
nairboon wrote: post #175

Earlier quoted context omitted.

In a casino you can bet against other people too. Nonetheless, the house always wins and takes its cut.

With gambling you should always play for entertainment. If you play to win you've already lost.

Making paper airplanes from dollar bills, and setting their backs on fire to give them jet engines, is likely cheaper and more entertaining, so if you're gambling anyway, you've already lost, period.
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