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The battle to stop clever people betting

economist.com

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Re: The battle to stop clever people betting

#91

Post by beAbU »

blell wrote: post #42
m4ck_ wrote: post #26

I would love to see the gambling industry beaten back into whatever holes they slithered out of. If you want to gamble it should be in some smokey back room at a liquor store. I'm surprised the christian right isn't making more of a fuss about gambling, but I guess they're getting greased to look the other way.

Lately it feels like more and more people who are not religious invoke Christ to tell believers what they must do.

Yes, because the vast majority of self proclaimed and vocal so called "Christ"-ians have completely forgotten about (or conveniently abandoned) the teachings and philosophy of Christ the man.

Nobody can claim with a straight face that the "Christian Right" movement in the US can be classified as wholesome love-thy-neighbour Christianity. Because from where I'm standing, it's far from it.

Re: The battle to stop clever people betting

#92

Post by anthony100 »

blell wrote: post #42
m4ck_ wrote: post #26

I would love to see the gambling industry beaten back into whatever holes they slithered out of. If you want to gamble it should be in some smokey back room at a liquor store. I'm surprised the christian right isn't making more of a fuss about gambling, but I guess they're getting greased to look the other way.

Lately it feels like more and more people who are not religious invoke Christ to tell believers what they must do.

Believe it or not but I'm a Christian and a Libertarian.

Re: The battle to stop clever people betting

#93

Post by brador »

Simulacra wrote: post #79
m4ck_ wrote: post #26

I would love to see the gambling industry beaten back into whatever holes they slithered out of. If you want to gamble it should be in some smokey back room at a liquor store. I'm surprised the christian right isn't making more of a fuss about gambling, but I guess they're getting greased to look the other way.

I don't look at gambling in a religious or moral perspective at all, but rather as a predatory business. It's like any other dopamine hit, the casinos manage joy and expectation, just enough, so that people keep coming back until they are hopelessly addicted, broke, or broken. The problem with gambling is that the house never loses, and when they are losing, they can kick you out and call you a cheater. At the very l…

This is not true. The player can turn a profit, it’s just the probability of that tends closer to house advantage as they play more.

Which is why the optimal play is usually to bet it all on the first play. Then walk away, win or lose.

Re: The battle to stop clever people betting

#94

Post by bigyabai »

billy99k wrote: post #46
blell wrote: post #42

Earlier quoted context omitted.

Lately it feels like more and more people who are not religious invoke Christ to tell believers what they must do.

This is what many evil people do.

Concepts like "evil" are a human fabrication. Those people are the smart opportunists that our society rewards.

Re: The battle to stop clever people betting

#95

Post by SamInTheShell »

brador wrote: post #93
Simulacra wrote: post #79

Earlier quoted context omitted.

I don't look at gambling in a religious or moral perspective at all, but rather as a predatory business. It's like any other dopamine hit, the casinos manage joy and expectation, just enough, so that people keep coming back until they are hopelessly addicted, broke, or broken. The problem with gambling is that the house never loses, and when they are losing, they can kick you out and call you a cheater. At the very l…

This is not true. The player can turn a profit, it’s just the probability of that tends closer to house advantage as they play more. Which is why the optimal play is usually to bet it all on the first play. Then walk away, win or lose.

You're wrong. The house literally will come up to someone that is winning a lot and tell them to leave. "You're too good, we have to ask you to leave."

Re: The battle to stop clever people betting

#96

Post by Youden »

mr_mitm wrote: post #85
Youden wrote: post #82

Earlier quoted context omitted.

Hadn't heard of that one, I don't immediately see anything that makes it seem as dodgy as eToro. Do you have a link to any of these highly-leveraged securities they're trading?

This is a 73000x security on silver: https://www.ls-tc.de/en/turbo/4244036 It's got an ISIN and all that. L+S is the exchange where Trade Republic trades: https://support.traderepublic.com/en-nl/705-On-which-trading...

Ah, I see. That's indeed completely separate from what I was talking about. I didn't know such securities/exchanges existed.

Re: The battle to stop clever people betting

#97

Post by voidmain0001 »

m4ck_ wrote: post #26

I would love to see the gambling industry beaten back into whatever holes they slithered out of. If you want to gamble it should be in some smokey back room at a liquor store. I'm surprised the christian right isn't making more of a fuss about gambling, but I guess they're getting greased to look the other way.

This podcast episode addresses sports betting and touches on why religious groups condone it.

Re: The battle to stop clever people betting

#98

Post by ant6n »

anthony100 wrote: post #92
blell wrote: post #42

Earlier quoted context omitted.

Lately it feels like more and more people who are not religious invoke Christ to tell believers what they must do.

Believe it or not but I'm a Christian and a Libertarian.

It’s more of a label than a credible belief, either way.

Re: The battle to stop clever people betting

#99

Post by gspetr »

watwut wrote: post #31
m4ck_ wrote: post #26

I would love to see the gambling industry beaten back into whatever holes they slithered out of. If you want to gamble it should be in some smokey back room at a liquor store. I'm surprised the christian right isn't making more of a fuss about gambling, but I guess they're getting greased to look the other way.

It is not gay, it is masculine, it does not hurt women, so christian right likes it. That it also hurts playing men does not bother christian right either, they will blame women and gay for that anyway.

> it does not hurt women

Why make assertions that even a cursory search can disprove?

https://bettingladies.com/articles/super-bowl-2024

Re: The battle to stop clever people betting

#100

Post by timcobb »

paulgb wrote: post #28
timcobb wrote: post #6

Earlier quoted context omitted.

I used to think this but then developed the impression that quite the opposite is true, that a great many clever people live their lives betting on this or that (equities, derivities, sports, polymarket, often they call it "risk management" or other such things) and, unfortunately, that abstaining from betting (as I still do) is, unfortunately for me, an unrealistic maladaptive cope. I think the adaptive thing to do…

> an unrealistic maladaptive cope I like betting myself, but I don't think abstaining from betting is maladaptive at all. Most of the bets we encounter in the real world are negative EV.

What do you like about betting?

> Most of the bets we encounter in the real world are negative EV.

Yeah that's why I don't like betting. It feels not smart, for me especially. But people who make the right bets can make very large otherwise unrealizable gains.

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