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Addiction Markets

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Re: Addiction Markets

#321

Post by carefulfungi »

zkmon wrote: post #298

What happened to America. Maybe 70's or 40's were it's peak. Every activity has become a betting. Investments, sports, relationships, home-buying. Addictions are a symptom of having an excessive amount of free time, floating money and lack of fear of reprisal from family and society and lack of basic wisdom. Excessive prosperity breaks social rythm. It removes dependencies and relations across individuals. It's like…

The 70's were an economic horror show, Richard Nixon, and a legitimate fear of nuclear war; the 40's were a global war. Weird take.

Re: Addiction Markets

#322

Post by hobofan »

mlrtime wrote: post #300
margalabargala wrote: post #231

Earlier quoted context omitted.

The discussion is about banning the advertising of gambling, not gambling itself. There won't be a large grey market for advertisements.

Wanna bet? Try regulating that on the internet, or walk down a construction sight in Manhattan, there are illegal ads all over.

There is big difference in signaling of social acceptability with advertising existing e.g. as main sponsor of the superbowl vs. existing as Stake logos on social media videos.

Re: Addiction Markets

#323

Post by MLR »

mlrtime wrote: post #293
georgemcbay wrote: post #229

Earlier quoted context omitted.

> When you lose (most people, most of the time) For modern gambling (not including some prediction market setups) its actually all of the people (still allowed to play), most of the time. Because if you win regularly they limit or outright ban you from playing. If they keep letting you play they have determined algorithmically that you're statistically a loser over time. So not only is this easy access to online/app-…

Do you have proof to back up this claim? I know there are professional people and organizations (companies) that are heavy into prediction and sports betting, they are not getting throttled.

It's a very common thing, it's called gubbing in the circles I know it from.

There are services called betting exchanges that essentially facilitate peer-to-peer gambling, they make money from commission so they don't care at all about your betting strategy, big players and companies are probably operating on those platforms.

Re: Addiction Markets

#324

Post by zkmon »

carefulfungi wrote: post #321
zkmon wrote: post #298

What happened to America. Maybe 70's or 40's were it's peak. Every activity has become a betting. Investments, sports, relationships, home-buying. Addictions are a symptom of having an excessive amount of free time, floating money and lack of fear of reprisal from family and society and lack of basic wisdom. Excessive prosperity breaks social rythm. It removes dependencies and relations across individuals. It's like…

The 70's were an economic horror show, Richard Nixon, and a legitimate fear of nuclear war; the 40's were a global war. Weird take.

Well, that kept you folks together atleast, and kept you focused on things that were not betting.

Re: Addiction Markets

#325

Post by [deleted] »

kiba wrote: post #302
mattmaroon wrote: post #218

Earlier quoted context omitted.

No to both. You probably understand it but it’s not that amazing. States don’t tax corporations much (it’s often fairly easy to move your company to the next state over if taxes are lower) the federal government does. They tax things like sales, homes, gambling and other vices, etc.

Good idea to impose piguouvian taxes, not a good idea to impose sale taxes as that's regressive. Property tax's a mixed bag since it taxes both land and building when ideally you only want to tax land. States that impose income taxes are choosing not to imposes taxes elsewhere like land, which is the ideal tax. Income taxes have negative consequences since you're taxing economic activity.

[deleted]

Re: Addiction Markets

#326

Post by HDThoreaun »

Humorist2290 wrote: post #118

But if you want to outlaw this harmful activity [licensed gambling], you have to find a way to replace 6.4% of Maryland’s budget, which is slightly less than the entire amount the state brings in from corporate taxes. A fraction of the proceeds of losing bets from a fraction of Maryland's citizens contributes almost the same to state services -- EMS, education, road maintenance, etc -- than the total corporate taxes…

corporate tax makes no sense for states where you can hire a lawyer to change the home of your corp in a day. States impose income taxes which are harder to dodge and do less to disincentivize investment from corporations. What needs to change is federal capital gains tax, thats the main reason business owners pay such low tax percentages.

Re: Addiction Markets

#327

Post by juliushuijnk »

harha wrote: post #319
TimByte wrote: post #280

Earlier quoted context omitted.

A state is funding essential public services not through productive economic activity, but by extracting money from people losing bets

Sounds like a win to me, you can leave more for productive activity to grow and attract more, there less incentive for illegal gambling, and no one is forced to do it. If there’s a massive burden with addicts, you can still impose that the gambling industry pays more to offset.

The goal of the governement is to facilitate conditions where as many people as possible are happy, safe and healthy. The economy of a state is in service of that goal, not the other way around.

Re: Addiction Markets

#328

Post by hobofan »

rs186 wrote: post #290
nekusar wrote: post #30

People are also leaving out stuff like Pokemon, Yu Gi Oh, and Magic The Gathering. All of them also introduce rarities (arbitrary exclusiveness), hidden cards in a pack, and extreme gambling gamification. The only non-gambling MtG packs are the preconstructed commander decks. All 100 cards are published. But the packs and boxes? Pure gambling, especially for the chase rare cards. And before anyone asks, yes, my usern…

Why not mention blind boxes and Labubu I never understand why people "collect" these things

Labubus are much less about collectior value. They are more like a wearable luxury item that's sold via a gambling mechanic.

Their value is much less speculative and much more closely based on (blindbox price * distribution percentage of the rare variants) than most of the other items being dicussed here.

Re: Addiction Markets

#329

Post by slumberlust »

shipman05 wrote: post #142

It feels like banning advertising for gambling would be a sweet spot between harm reduction and maintaining individual liberty. Sports gambling ads have ruined sports media. State lottery ads are even worse. The government should not spend money to encourage its own citizens to partake in harmful activities.

I'd argue sports ruined their own product with ad insertion at every available opportunity (and even creating new opportunities to shove ads at you). If gambling ads were banned, it'd just be something else crammed down our faces.

Re: Addiction Markets

#330

Post by lnrd »

belkinpower wrote: post #35
nekusar wrote: post #30

People are also leaving out stuff like Pokemon, Yu Gi Oh, and Magic The Gathering. All of them also introduce rarities (arbitrary exclusiveness), hidden cards in a pack, and extreme gambling gamification. The only non-gambling MtG packs are the preconstructed commander decks. All 100 cards are published. But the packs and boxes? Pure gambling, especially for the chase rare cards. And before anyone asks, yes, my usern…

The Pokémon card mania in particular is deeply weird to me. I play Magic at a local card shop a few times a month and it’s always full of people playing Magic, D&D, or various board games. I don’t think I’ve seen a single person playing the Pokémon card game. So who’s buying the valuable singles? What’s keeping the market afloat? It’s bizarre.

It's a collector's market, the value is in the demand and scarcity. Same as with all other collectibles like baseball cards and such. Or even wines, there are some that are so old they become undrinkable but cost like a car. In collectors market the price is detached from any kind of purpose of the item.

Also consider that most Magic cards are also valuable only because of their collector status. The valuable ones are mint first editions and nobody is buying them to play them.

So who fuels this collectors market? Nostalgic 30-something that have now disposable income and want to buy things they wanted as children. Same as with videogames collectors and such. You don't need an original copy of Supermario to play it, but people still spend thousands to buy it.

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