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Addiction Markets

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383 points toomuchtodo | 9 comments | | HN request time: 0.455s | source | bottom
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rybosworld ◴[] No.45775563[source]
I don't think you can kill corporate run gambling - people will just use some offshore website instead.

It might be something we should treat more like smoking.

- Require a disclosure of the EV of each bet as the user is placing it. E.g.: Expected loss $5.

- Ad targeting restrictions.

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1. paxys ◴[] No.45775775[source]
> people will just use some offshore website instead

No they won't, because moving real money to and from these shady offshore websites is a nightmare, and without enforcement there will be too much fraud in the system for the vast majority of regular people to bother.

Gambling is so prevalent today because 1) there is incessant advertising, including being overlaid on the game you are watching and 2) it is convenient, taking like 3 clicks and under a minute to go from scratch to placing bets. You can even use Apple Pay. Take away either of these and participation rates will plummet.

You don't even need to speculate, just look at the numbers. There were countless illegal and gray market gambling options available a decade ago, both online and in-person. How many people were participating back then? I personally didn't know anyone who bet on games outside of maybe the occasional trip to Vegas, and that too was just for the novelty of it. Today >50% of adults in the US are regularly betting online, and the number is growing every year.

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2. vhcr ◴[] No.45776202[source]
This is not a hypothetical, people already do it like that in my country (Argentina), you send your money to a person that buys tokens using cryptocoins, since these websites don't comply with the local regulation, even kids are addicted to gambling.
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3. Vaslo ◴[] No.45776598[source]
People buy illegal stuff and dark markets all the time. Even a decade ago I knew a guy who was buying dope and having it mailed to him from the dark web and he was minimally technical. They know there is a risk but they are willing to take it. This isn’t like buying a lawn motor - people will take some fraud as “acceptable losses”.
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4. paxys ◴[] No.45776622[source]
We are not talking about one person. Yes everyone "knows a guy" who will find ways of doing stuff regardless of the laws or availability. We don't need to care about that person. However if half of America is becoming that person then we absolutely need to care.
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5. Karrot_Kream ◴[] No.45776793{3}[source]
You're fighting anecdote with anecdote. Earlier you say back in the gray market days you knew nobody gambling in your circle. Now you're saying the other commenter's "one person" isn't representative. You can't have it both ways. Either both anecdotes need more data to support them or neither do.
6. ◴[] No.45777345[source]
7. array_key_first ◴[] No.45777910[source]
I think the difference is that, with gambling, the "buying" part IS the addiction. It's money centered. But with dope, the "buying" part is nothing - you do it for the dope.

If I give out free dope, I'll get a lot of people hooked. If I give out free sports betting, but you get nothing, then nobody is hooked.

8. hyperadvanced ◴[] No.45777988[source]
I think you’re right - some people will gamble no matter what, but removing all barriers to entry and advertising it on ESPN will certainly grow that market much more than people actively seeking out betting in shady places online.

It’s similar to weed legalization 10 years ago. Yes, it’s now much less likely that your weed will be spiked with meth or you will be robbed by your dealer, but also like 1000% more of the population smokes weed now and it has some bad social side effects that people don’t like to think about.

I think in both cases, as with prohibition, making something commonplace illegal again tends to make people do crazy things if they’re addicted, and I’d bet gambling is no different

9. amrocha ◴[] No.45783217[source]
When your government is as incompetent as you can get while avoiding a revolution people start to gamble.

The rise of gambling in the US does indicate an economic hopelessness that mirrors Argentina, but it’s not quite to the same level yet.