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The rising human cost of sports betting

nytimes.com

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Re: The rising human cost of sports betting

#131

Post by dylan604 »

wolverine876 wrote: post #118
dylan604 wrote: post #113

Earlier quoted context omitted.

>That you know of. How does anyone know? How many of those skied shots, sliced shots, etc were bad skill or skillfully done to ensure the line was what was needed/required? It's a pandora's box to start looking at everything a professional athlete/ref/manager does through that lens. It's even worse if you've never done it yourself to see how easy it is to do the wrong thing that causes one to look amateurish.

What is your solution? Should we just close our eyes to the threat?

>What is your solution?

Did I just get a promotion to CAS[0]? Time to update my CV. I feel special. Time for me to start accepting bribes.

It's sport. It's humans. There is no solve. People want to do it, they will find a way to do it. There are other people that will take advantage. To the point that those in charge of $sportingEvent (FIFA, Olympics, Cycling) all "fall victim".

> Should we just close our eyes to the threat?

Only if you want to miss the entertainment.

[0]https://en.wikipedia.org/wiki/Court_of_Arbitration_for_Sport

Re: The rising human cost of sports betting

#132

Post by majani »

hattmall wrote: post #43
ben7799 wrote: 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.

Legal sports betting makes it less likely to have the game thrown. The Athlete salaries far outpace the potential gains of an individual bettor so you need bookmaker involvement but the legal books are so large that they don't won't one-sided games or any particular outcome. They are able to balance their books and make money like never before by keeping an even line. It's only when the house is constrained in their…

Referees in all the top leagues still get paid average salaries yet they are the most powerful person on the field. They are the point of failure in modern sports

Re: The rising human cost of sports betting

#133

Post by Tenoke »

kritiko wrote: post #83
mensetmanusman wrote: post #9

Gambling is like drug use, some people are clearly addicted to it and will ruin their lives over it. How does society respond to this fact? War on drugs, war on gambling, etc. Hmmmmm

state run gaming, limit the bets people make, allow them to "win back" their UBI everyone's a winner, baby!

Sadly, state run gambling aka national lotteries typically offer you much worse returns than anything in the casino.

Re: The rising human cost of sports betting

#134

Post by gjs278 »

slap_shot wrote: post #121
RedAlakazam wrote: post #99

Earlier quoted context omitted.

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.

No post body was provided.

Re: The rising human cost of sports betting

#135

Post by wolverine876 »

dylan604 wrote: post #131
wolverine876 wrote: post #118

Earlier quoted context omitted.

What is your solution? Should we just close our eyes to the threat?

>What is your solution? Did I just get a promotion to CAS[0]? Time to update my CV. I feel special. Time for me to start accepting bribes. It's sport. It's humans. There is no solve. People want to do it, they will find a way to do it. There are other people that will take advantage. To the point that those in charge of $sportingEvent (FIFA, Olympics, Cycling) all "fall victim". > Should we just close our eyes to the…

> It's sport. It's humans. There is no solve.

People say that about a lot of things, but we humans have moved out of caves, created science, machines, governments, freedom, etc etc. We can do something about our condition.

Re: The rising human cost of sports betting

#136

Post by gjs278 »

slap_shot wrote: post #59
thebean11 wrote: post #57

Earlier quoted context omitted.

Wow, that's pretty amazing. Have you considered giving it a shot in-person in Vegas, assuming it's not super high frequency? Could potentially make a lot of cash before they ban you.

we've started spreading the bets across lots of different accounts. the issue is we don't know which leg of the bet is going to be the one that profits, so you run the risk of one account winning too frequently and getting flagged. If we did that same thing in person we would need a lot of random ass poeple. But it's definitely something we've considered.

No post body was provided.

Re: The rising human cost of sports betting

#137

Post by dylan604 »

wolverine876 wrote: post #135
dylan604 wrote: post #131

Earlier quoted context omitted.

>What is your solution? Did I just get a promotion to CAS[0]? Time to update my CV. I feel special. Time for me to start accepting bribes. It's sport. It's humans. There is no solve. People want to do it, they will find a way to do it. There are other people that will take advantage. To the point that those in charge of $sportingEvent (FIFA, Olympics, Cycling) all "fall victim". > Should we just close our eyes to the…

> It's sport. It's humans. There is no solve. People say that about a lot of things, but we humans have moved out of caves, created science, machines, governments, freedom, etc etc. We can do something about our condition.

Yes, we also have religion. Some would view that as big of a vice as gambling etc. Not sure your point is carrying much weight with me.

Re: The rising human cost of sports betting

#138

Post by slig »

gostsamo wrote: post #66
slig wrote: post #63

Earlier quoted context omitted.

Does your program looks at past results and infers who's going to win somehow?

most likely this is betting arbitrage. check the odds on different bookmakers and try to find an opportunity where you can bet on both sides and win regardless.

That makes a lot of sense, thanks!

Re: The rising human cost of sports betting

#139

Post by margalabargala »

bregma wrote: post #117
babypuncher wrote: post #79

Earlier quoted context omitted.

State lotteries are a means to shift tax burden from the wealthy to the poor. Every time one is implemented to "support education", it is always followed by a tax break for the upper class, resulting in a net 0 increase in school budgets.

State lotteries are just a tax on the stupid.

People like to say this because it's a nice sound-bite that lets people feel like they themselves are not among the stupid.

It ignores the reality that poverty is a causative agent for lacking the appropriate math skill to recognize that playing the lottery is not a good financial choice, and self-perpetuates that poverty.

Re: The rising human cost of sports betting

#140

Post by hillbillydilly »

Pet_Ant wrote: post #94
slap_shot wrote: post #78

Earlier quoted context omitted.

This is exactly my point. I'm not against outlawing casinos (i think you should be able to do pretty much whatever the eff you want with your body and money). BUT if we are going to allow them, should we allow them to only let people play when they lose? The decision to let them exist is as arbitrary as the decision to allow them to only play when they when.

>([I] think you should be able to do pretty much whatever the eff you want with your body and money). ... The decision to let the exist is as arbitrary as the decision to allow them to only play when they [win]. How do you square that with giving people autonomy? You can do what you want with your money, but you can't play if you don't feel like you are gonna win... there is an inherent contradiction there.

its the classic hn libertarian take. empowered teens with freedom technology, saying one thing (body autonomy, no regs!) but, actually with regulations they're just smarter regulations cause I'm smart
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