371–380 of 479 posts
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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.
The market for what you mention is less than 1% the legal market.
I'll make a bet here: By the 2040 US presidential election, anti-gambling legislation will be a bigger party platform issue than abortion is for one of the two major US political parties. We are ruining a generation of men with this, just as we did with alcohol in the era before prohibition. A wiser and more sensible approach is desperately needed today, but will not come for another 15 years until the damage is ines…
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Federally, That's not even true anymore. In the BBB there was a tax code change that says you can only write off 90% of your losses from sports betting now. If you win $95 on one bet and lose $100 on another, you owe taxes on $5 of that $95.
That seems wild since exchanging “bet” for “stock trade” results in a very different result…
I'll make a bet here: By the 2040 US presidential election, anti-gambling legislation will be a bigger party platform issue than abortion is for one of the two major US political parties. We are ruining a generation of men with this, just as we did with alcohol in the era before prohibition. A wiser and more sensible approach is desperately needed today, but will not come for another 15 years until the damage is ines…
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Not losing bets, all bets
In one sense, winning bets. If you lose, you lose: your money is gone either way. If you win, the fact that the probabilities sum to about 1.05 means you win less than you would have in a fair game. The state just takes a cut of that extra 0.05.
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"Make it legal but very annoying" is an underrated policy option. And banning advertisement is the first resort in this line of regulation. If there are no ads to tell you, you have to, first, be informed that sports gambling is a thing people do, then decide that it's a thing you want participate in, and then obtain information on how it's done. This adds friction. Friction reduces participation. But if you really w…
So this is sort of a gotcha question, but I don't mean it that way. Is it advertising when the announcer for a game talks about gambling? There's statements that obviously would be advertising, so the interesting thing is where and how to draw the line.
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Great video. The convergence between traditional stock market finance and casino gambling is going to seriously scar a generation.
I still can't take him seriously, he's a long time crypto grifter exposing grifting, why should we enable him? I don't follow him very closely but he always positioned himself as a pick me saavy crypto investor not like the others (who were into shitcoins).
I used to live in Sri Lanka and one of the most pervasive things I noticed when I moved to the west were all these gambling ads. There, it was widely accepted that gambling was harmful. Yes, you could do it, but you could never advertise it. I'm shocked that my 3rd world country has way better control over this than the west.
I think that's an unfair conclusion towards Sri Lanka, it's not like Western countries are inherently superior. Some things are further developed, some things were lost, and some things just reflect different values.
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.
Side remark: I love to ridicule that of all things producers of very unhealthy food and beverages (or to put it more directly: producers of foods and drinks that make you fat and thus unathletic) love to sponsor sports events. :-)
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…