Is it bad for society? It's certainly bad for individuals, and by extension their families. I guess if it scales up such that a serious chunk of society is affected, then yes its bad for society. Let's start with the obvious- in all forms of gambling the gamblers make a net loss. The games are hosted by very sophisticated companies, that have better mathematicians, and make money. $x is pumped into the system by the…
Americans increasingly see legal sports betting as a bad thing for society
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Re: Americans increasingly see legal sports betting as a bad thing for society
#42That's always an interesting thing. Where does autonomy end and the right of the government to intrude into your private life begin. The bottom line, that something is bad for you seems to be so logical. But when you think about it a bit longer you see that there are so many things that are bad for you that it would be next to impossible to regulate all of them. Ok, so you only do it for the things that are really ha…
Gambling used to be much more restricted in the UK, although horse race betting was always a thing.
Re: Americans increasingly see legal sports betting as a bad thing for society
#43Earlier quoted context omitted.
Guilt by association: If, e.g., violence is a problem, then one needs to deal with the violence. In general, law-abiding citizens are—and should—be free to congregate and partake in their bad habits wherever they please. And even though gambling is generally immoral, it does not infringe on anyone else's God-given rights and has no business being made illegal. Gambling is emphasized above to emphasize we are talking…
Being somewhat skilled does not make it not hazard. And practices of books are purely predatory.
Discussion 4 days ago: https://news.ycombinator.com/item?id=45432627
Re: Americans increasingly see legal sports betting as a bad thing for society
#44Earlier quoted context omitted.
Guilt by association: If, e.g., violence is a problem, then one needs to deal with the violence. In general, law-abiding citizens are—and should—be free to congregate and partake in their bad habits wherever they please. And even though gambling is generally immoral, it does not infringe on anyone else's God-given rights and has no business being made illegal. Gambling is emphasized above to emphasize we are talking…
Being somewhat skilled does not make it not hazard. And practices of books are purely predatory.
Re: Americans increasingly see legal sports betting as a bad thing for society
#45Why is it any different than betting on the stock market? Buying a house is also a bet. Even if Americans view it as a bad thing, it should be allowed.
Re: Americans increasingly see legal sports betting as a bad thing for society
#46Is it bad for society? It's certainly bad for individuals, and by extension their families. I guess if it scales up such that a serious chunk of society is affected, then yes its bad for society. Let's start with the obvious- in all forms of gambling the gamblers make a net loss. The games are hosted by very sophisticated companies, that have better mathematicians, and make money. $x is pumped into the system by the…
> It could be banned. Would that stop it? Probably not. Was not that big of a thing 15 years ago. The goal of a ban is not to reduce the consumption to 0, but try to lower it a significant amount. Although, since people are generally aware of it and participated in it, it might not be that easy to go back to beforetimes.
Phones allow you to gamble from anywhere on anything. You could ban advertising it during sports broadcasts, which would probably reduce things a fair bit, but that's likely to impact the "casual" gambler who
I don't do sports, but occasionally I'm in a pub and they are on. I've seen in the UK over the years how pervasive it is now compared to a generation ago. The advertising companies paint this picture of it not only being normal, but also being the only way to enjoy a game. I'm fairly sure that my parents and grandparents who were big into football enjoyed games quite happily in the past.
In the 90s the typical sports gambling in the UK was old men putting the price of a pint on the pools or in a fruit machine, where you guessed which team would win. The winning limit on the fruit machines was about 5 pints worth, and the pools was a confusing weekly maths challenge while listening to results such as "Forfar Four, East Fife Five"
The explosion of "fixed odds betting" machines which dispensed with the social aspect of going to a pub and spending £5 over lunch in favour of extracting £50 in 5 minutes and moving on, combined with general high street abandonment led to a terrible blight on uk town centres. Online gambling meant you no longer had to go into a seedy shop to hand in a betting slip for the 3:40 at doncaster, then wait for an hour or so in the pub next door to watch it with acquaintances, but instead you could do it all from your own home.
Gambling has become industrialised in the last generation, emphasising the cash extraction and reducing the pleasure it brought. It's no longer £3 for an hour of interest, it's become about extracting as much money as possible (and thus the adverts are all about winning big bucks because you as a sports nerd know far more about which player will score first than the betting companies do)
Re: Americans increasingly see legal sports betting as a bad thing for society
#47I left my home country over 10 years ago, and ever since I've travelled back once every 1 or 2 years. Since 4-5 years ago I started to notice these betting houses cropping up where my family and friends live. They are impossible to miss, with big pictures of different sports and no windows. The most important thing to notice is where these place are and are not. They proliferate in working class and less well off nei…
It’s not that they don’t want to be, it’s that affluent neighborhoods tend to keep things that are considered “low class” out of them. The only Safeway in my city that doesn’t sell lottery tickets is the one in the most affluent neighborhood.
Re: Americans increasingly see legal sports betting as a bad thing for society
#48Earlier quoted context omitted.
Guilt by association: If, e.g., violence is a problem, then one needs to deal with the violence. In general, law-abiding citizens are—and should—be free to congregate and partake in their bad habits wherever they please. And even though gambling is generally immoral, it does not infringe on anyone else's God-given rights and has no business being made illegal. Gambling is emphasized above to emphasize we are talking…
> And even though gambling is generally immoral, it does not infringe on anyone else's God-given rights and has no business being made illegal. Neither does smoking, but we still limit the types of advertisements cigarette companies can make. Gambling is ultimately a predatory business that serves to separate people susceptible to addiction from their money.
It absolutely does, and the number of people that died from second hand smoke is awful.
It doesn't make sport gambling adverts right, but it wasn't a great example.
Re: Americans increasingly see legal sports betting as a bad thing for society
#49Earlier quoted context omitted.
Stocks have positive expected returns: the risk premium. Sports bets have negative expected returns in aggregate and if you are good enough to only bet the ones you can spot with positive expected returns they ban you from the platform.
>they ban you from the platform Use a respectable platform that doesn't do that then.
Re: Americans increasingly see legal sports betting as a bad thing for society
#50I left my home country over 10 years ago, and ever since I've travelled back once every 1 or 2 years. Since 4-5 years ago I started to notice these betting houses cropping up where my family and friends live. They are impossible to miss, with big pictures of different sports and no windows. The most important thing to notice is where these place are and are not. They proliferate in working class and less well off nei…
Guilt by association: If, e.g., violence is a problem, then one needs to deal with the violence. In general, law-abiding citizens are—and should—be free to congregate and partake in their bad habits wherever they please. And even though gambling is generally immoral, it does not infringe on anyone else's God-given rights and has no business being made illegal. Gambling is emphasized above to emphasize we are talking…
Gamblers have lost their homes as a result of their addiction, I think that impact on their families counts for something.