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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

#371

Post by infinite_spin »

danaris wrote: post #369
cucumber3732842 wrote: post #243

Earlier quoted context omitted.

You see sins. Politicians see sin taxes, political will to spin up regulatory beurocracies, etc, etc.

> You see sins. I can't speak for mastermage, but I don't see sins. I see addictions , and vultures preying on them and actively profiting from exploiting their self-destruction.

They actively encourage addicts to "self-exclude" themselves from winnings, meaning if they go to a casino and win, the casino will bar them from collecting those winnings.. but they don't appear to stop that same person from placing bets in the first place.

https://massgaming.com/about/voluntary-self-exclusion/

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

#372

Post by cj »

jappgar wrote: post #281
walrus01 wrote: post #231

Earlier quoted context omitted.

> They allow instant deposits with credit card This is my biggest takeaway, and I really wonder what payment processor(s) they're using, because the chargeback and fraud rate in filling 'real money' into an online gambling account using visa or mastercard must be through the roof. Exactly same reason why porn sites use their own specialist payment processors (alluded to in popular fiction in Industry season 4 recentl…

I'm assuming they pay high percentages to processors on deposits to cover the losses. Then they recoup that (and more) in withdrawal fees

Plus a 2% fee charged on deposit.

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

#373

Post by [deleted] »

kleene_op wrote: post #345
everdrive wrote: post #307

Earlier quoted context omitted.

>it showed a promo “would you like to split this payment over 12 month?” and seemingly was only available for that one transaction. So I could have deposited $1000 via CC into Kalshi and paid it back $83/mo over 12 months. "Would you like to make decisions that are bad for you?" The future is indeed wild, and personal weakness is for sale. This isn't meant as an attack on you, but a lot of people will not be able to…

> So I could have deposited $1000 via CC into Kalshi and paid it back $83/mo over 12 months Are you sure those are the correct figures? That's a 4$ win in your favor if you don't use any of the deposited money and cash it back one year later.

[deleted]

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

#374

Post by TeMPOraL »

maxbond wrote: post #309
TeMPOraL wrote: post #276

Earlier quoted context omitted.

> They're fundamentally broken and the fact that they're allowed is a sign and symptom of a dysfunctional society. There are two ways to view a market (prediction or stock): as socially accepted gambling for posh elites (and now every wannabe rich), and as a prediction engine that refines people's opinions, beliefs and information into a most accurate estimate possible. If you take the first view, insider trading is…

You won't incorporate information from outsiders if they think they're going to get ripped off by insiders.

That's system working as intended. If there exist insiders with valuable information, engaging outsiders will just add noise to the signal.

(It's why I wrote about two perspectives - preferring outsiders to insiders only makes sense if the goal is to create a gambling venue.)

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

#375

Post by dotancohen »

weird-eye-issue wrote: post #349
dotancohen wrote: post #316

Earlier quoted context omitted.

That's fraud.

I'm trying to understand which part exactly is fraud? If this site offered a legitimate marketplace for these items as well as gambling then in certain jurisdictions of course that could be illegal (due to the gambling aspect) but where does the fraud come in exactly?

The fraud is circumventing restrictions on purchasing gambling credits by ostensibly purchasing a CS2 skin at the time of the financial transaction.

Legal what-ifs have a much lower bar than a C++ if clause or the assembly conditional it compiles to.

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

#376

Post by dotancohen »

LPisGood wrote: post #363
dotancohen wrote: post #316

Earlier quoted context omitted.

That's fraud.

How is it different than if I buy a TV and sell it on Ebay and use the funds to gamble?

Depending on circumstances, many activities under the same banner of analogy are actually fraud as well. I suggest talking to a lawyer before making any plans. Fraud is more about intent to circumvent, and chaining together individually-legal activities is the most common path to a fraud conviction.

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

#377

Post by asdff »

tty456 wrote: post #93

Also, kids get scammed daily on YouTube on Pokemon card pulls with "loaded" packs and otherwise fake pulls for views.

It is disturbing what has happened to pokemon cards in recent years. I remember as a kid no one wanted those packs because it as basically acknowledged by everyone the shit odds of getting something cool like a charizard vs a bunch of stupid cards. If you wanted a charizard, you'd just go to a card show with a dealer who has dozens of charizards and pay them like $20. You would never pull countless packs in effort to get one, everyone thought that was extremely stupid.

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

#378

Post by asdff »

expedition32 wrote: post #269
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.

Gambling is extremely popular in china despite the firewall and laws around it.

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

#379

Post by asdff »

AIorNot wrote: post #63

Good luck - polymarket sponsored trumps White House UFC Extravaganza God I cant believe I wrote that

People in the white house are using polymarket to front run whitehouse actions. Someone made bank over maduros capture.

If you go to polymarket, Iran related bets have a specific subpage on their website no different than the sports subpage.

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

#380

Post by maxbond »

TeMPOraL wrote: post #374
maxbond wrote: post #309

Earlier quoted context omitted.

You won't incorporate information from outsiders if they think they're going to get ripped off by insiders.

That's system working as intended. If there exist insiders with valuable information, engaging outsiders will just add noise to the signal. (It's why I wrote about two perspectives - preferring outsiders to insiders only makes sense if the goal is to create a gambling venue.)

And who will they be trading with?
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