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Addiction Markets

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383 points toomuchtodo | 1 comments | | HN request time: 0s | source
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gcanyon ◴[] No.45775729[source]
This line from the ads always strikes me as darkly ironic:

> if you need help making responsible choices, call…

Like, the only “responsible” choice is not to gamble online. What do they even think we’re supposed to take away from that line of the commercial?

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savanaly ◴[] No.45776233[source]
> the only “responsible” choice is not to gamble online

I don't gamble at all in any form, but I still firmly disagree. Some people enjoy gambling in a way that never hurts them-- I've known countless friends and coworkers who talk about doing a bit of it in Vegas or what have you. You're saying every last one is a degenerate gambler somehow concealing it totally from me? They know they're not going net positive on the experience, usually lose some money, and get some entertainment.

There's a saying about this: abusers give vice a bad name. People should be free to gamble if they want to, and certain checks should be put in place for people who choose to gamble so much it is ruinous to themselves.

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snuxoll ◴[] No.45776456[source]
The problem is this: the house always wins. Casinos, online sports books, the lottery, all of it is designed such that all but quite literally a lucky few will lose money. If you understand this properly, then, yes, there's absolutely nothing wrong with it being a form of entertainment, but that means you need to go in thinking about cost per hour instead of any notion of leaving with more than you began with.

This is why I have a huge problem with the recent development of online gambling outlets that you can access via your smartphone. In the past you had to go somewhere to gamble, it was a physical act that provided a barrier to entry. Now? You don't even need to think about it, your bank account is already linked, just spend away!

Personally, I'd rather states loosen laws and allow physical casinos be built and properly regulated than be in the current situation we have with these poorly regulated online money-siphons.

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LPisGood ◴[] No.45778441[source]
The house does not always win in online sports books. I personally know some quant minded people that have been banned or backed off from a dozen or more online sports books because they are crushed by any nontrivial understanding of price/probability and arbitrage. They do make a lot of money from people who bet for fun or based on their perceived knowledge of the particular sport.
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1. empath75 ◴[] No.45778550[source]
You just explainer why the house always wins. If they don’t, they will stop taking your bets.