Earlier quoted context omitted.
Not only do winning players get quickly banned like sibling said, the house take on the major platforms is vastly higher than with traditional sports betting.
>the house take on the major platforms is vastly higher than with traditional sports betting What kind of markets is this referring to? Polymarket still charges 0 fees. While Kalshi's fees+spread can approach or even exceed traditional sportsbooks on some markets, neither of them have any interest in banning winning players, as they don't take a side on any bet and directly benefit from more betting activity. Kalshi…
Americans increasingly see legal sports betting as a bad thing for society
471–480 of 525 posts
Re: Americans increasingly see legal sports betting as a bad thing for society
#472It's become very toxic in baseball. just google "baseball player", "threats", and "gambling" and you'll see what I mean. edit for examples: * https://www.newsweek.com/sports/mlb/red-sox-pitcher-confront... * https://www.sfchronicle.com/sports/giants/article/mlb-threat...
Re: Americans increasingly see legal sports betting as a bad thing for society
#473Earlier quoted context omitted.
The 10MM figure might be a falsehood, but I think that you're falling for the same thing previous generations have fallen for: Assume that because it worked out for you, it will work out the same for the current generation. I'm not sure that it's an accurate view of reality this time. And to be clear I'm older than you, so this isn't me being a doomer and throwing my hands in the air about my own future. This is me n…
Leading up to me buying my home, the narrative was about how expensive houses are - especially in my city (Seattle). But now on the other side, I got so lucky to buy one when I did (2020) due to interest rates. Savvy also comes into play. The most affordable decent Seattle houses then were like $750k for sub-2k sqft well outside the main parts of the city. But Tacoma had 3k sqft houses for under $600k. 45ish minute r…
What is a "reverse commute"? Is that just going into the city at the opposite time of day from normal work?
Also, 45 minutes one day (1.5hr total) is a rather large chunk of the evening to spend in transit for "evening fun."
> I got so lucky to buy one when I did (2020) due to interest rates.
It's funny, I remember thinking that people buying in 2020 were nuts because none of us knew what the economy was going to do, and it turns out that those who did buy came out ahead. I cite this among friends as one of the many ways in which I feel like being cautious with money has been the wrong choice (e.g. maintain 6mo-12mo emergency fund, don't make large purchases in periods of uncertainty, etc).
Re: Americans increasingly see legal sports betting as a bad thing for society
#474Earlier quoted context omitted.
What I mean by strict rules is (but not limited to): no profit for the organizer, loss limit for everyone across all bets, etc. But I don't know what set of rules would qualify to make gambling neutral. - Infrastructure is better off paid by taxation. That's much fairer, and more predictable. - I don't see insurance as gambling. It has a chance element, but that's not enough to qualify something as gambling. You buy…
> taxation. That's much fairer Extortion is more fair than voluntary contributions? Maybe on arguments from regression but it's not obvious. > You buy security against large losses at a moderate price Flood insurance is literally saying "I bet my house is going to be underwater" and winning the big cash price if it is. Sure, you made an offsetting gamble when buying the house, but I don't see how you can claim a gamb…
Then move to North Korea where there are no taxes.
> Flood insurance is literally saying "I bet my house is going to be underwater" and winning the big cash price if it is.
yeah the big prize of all your personal belongings being destroyed, being semi-homeless for an indefinite period of time, fighting insurance companies to get the full value of your home and all assets (glhf finding out what's secretly not covered or you can't prove you owned), searching for a new home in an inflated market, lost productivity, dead pets, etc.. What a prize! This is something you'd expect a 12 year old to try to argue.
Insurance is not legally classified as gambling for very obvious and practical reasons.
Re: Americans increasingly see legal sports betting as a bad thing for society
#475Earlier quoted context omitted.
You could do that, but it seems kind of obvious and condescending? Cause right now you can forbid it and theyll see all their friends lose money and never win anything until your child is of legal age. For everyone else, it seems like some kind of inherited cultural addiction that gets culturally passed down. Just openly mock gambling as evil/a scam/rigged and they'll probably be more likely to pick that up if you ba…
I think the point is saying something is "evil" is very unlikely to discourage young people from anything and even more likely to make it sound exciting and edgy. It's like Oscar Wilde's famous quote: "As long as war is regarded as wicked, it will always have its fascination. When it is looked upon as vulgar it will cease to be popular."
I'm fascinated by the prospect of receiving a free $20. I'm not fascinated by the prospect of putting my finger in a mouse trap because I "might get the cheese this time". Putting your hand in the mouse trap in front of your kids is not a smart move. The addiction is top down enforced by both large industrial agendas and the parents giving weak unprincipaled stances against the normalization of gambling, or worse, being culturally addicted themselves in front of their kids.
Re: Americans increasingly see legal sports betting as a bad thing for society
#476It's become very toxic in baseball. just google "baseball player", "threats", and "gambling" and you'll see what I mean. edit for examples: * https://www.newsweek.com/sports/mlb/red-sox-pitcher-confront... * https://www.sfchronicle.com/sports/giants/article/mlb-threat...
NCAA women's sports too. These young women don't have the money to hire security and are especially vulnerable as a result
The next step would probably be eliminating betting on individual players, you can still bet on weird stuff but it would have to be $team does $thing. It wouldn't work for solo sports but given the most popular sports are all team sports it would cover a lot.
Re: Americans increasingly see legal sports betting as a bad thing for society
#477Earlier quoted context omitted.
> It’s reflective of people losing hope in the system’s ability to make their lives better. Kyla Scanlon (?) coined the term "financial nihilism" to describe this feeling: * https://kyla.substack.com/p/gen-z-and-financial-nihilism She thinks it's why things like cryptocurrencies/BTC have taken off: it's a chance to 'hit the jackpot', as many folks don't see another way to (financial) success.
I’m genuinely curious to what extent the hardships younger people face economically are related to wasting huge amounts of time on screens. The average Gen Z person spends nine hours per day on screens. The average 18-24 year old American spends more than three hours per day just on social media. I recognize all the various societal and structural factors that disadvantage younger people. At the same time, people hav…
To put context on your 'Gen Z' assertion, as of Q3 2023, the average global screen time is approximately 6 hours and 40 minutes per day for users aged 16 to 64 - with most of that wholly attributable is due to a shift in the consumption from legacy to digital media, rather than an across the board increase in consumption.
The percentage of 12th graders who read a book or a magazine every day declined from 60% in the late 1970s to 16% by 2016, and 8th graders spent almost an hour less time watching TV in 2016 compared with the early 1990s. Trends were fairly uniform across gender, race/ethnicity, and socioeconomic status.
https://www.apa.org/pubs/journals/releases/ppm-ppm0000203.pd...
In the grand scheme of things, the Victorian invention of 'childhood' has been effectively pushed up to about 21-25 in most of the Western World as a consequence of ladder-pulling and the increasing training necessary for the Information Economy. It's a societal rather than a generational thing reinforced from multiple angles.
Conversely, its the digital natives keeping boomer companies alive in the *aaS era. The hardships younger people face economically are almost entirely due to the collapse of any semblance of trade unionism or collective bargaining in the information and tech economies, combined with a cost of living crisis predicated on predatory housing policies.
Blaming screen-time is just a digital avocado-toast argument; trivialising the fact that this is the first set of generations to arguably have it worse off than their parents from an equality of outcome perspective, and attributing it to a problem of digital self-indulgence on the part of the youth.
Re: Americans increasingly see legal sports betting as a bad thing for society
#478Earlier quoted context omitted.
> while they tend to be absent from more affluent ones. 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.
I bet the better off do gamble on the financial markets though
Can you lose money in both absolutely but only actual investments have historically positive expectations. The stock market has had net growth of 7%+ on average in the last 100 years. Gambling has not increased the gamblers pockets at all its only shrunk there pockets
Re: Americans increasingly see legal sports betting as a bad thing for society
#479Earlier quoted context omitted.
We're clearly having different views on society. Yours seems through a strict financial lens, but correct me if I'm wrong. > potentially huge if you do. No, it isn't. You've just incurred a (probably larger) loss, elsewhere. There's no pay-off. Insurance makes large losses bearable for the individual and society. That's unlike gambling.
“I bet you $500 a month I’ll get cancer.” Insurance absolutely has a societal benefit. It is also absolutely gambling.