Spyke

What do you think about gambling?

Could be in any context. I do it a little on UFC fights but that's a relatively low amount and I can afford I to lose any time I do. It seems like it's becoming a really wide spread problem though, at least in the US. At the same time I don't see why it should be illegal. Granted I also don't think any drug should be illegal.

View original on lemmy.world

Yeah Pete Rose and anyone involved with "fixing" odds in anyway are absolutely fucked. Part of what made me ask the question is how pervasive gambling sites/apps/books ads are literally everywhere.

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piefed.world

Since I have a basic understanding of how odds work, I don't do it because it is throwing my money away.

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thelemmy.club

Gambling with any company is going to be negative expected value. However, I feel the same way gambling with individuals where the expected value is zero.

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lemmy.world

Not necessarily with sports betting though: Then you have a legitimate possibility of being more well informed than the bookies. A casino is mathematically rigged such that you will lose over time, that doesn't apply to games of skill (sports).

I don't gamble myself, but I seem to remember reading that the average person actually makes a net win in football betting (that is, more than 50% of gamblers are winning). Apparently, the betting companies make it up because you have a relatively small fraction of people that are losing big, and losing consistently.

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WFHreply
lemmy.zip

That's a common misconception. Sports gambling is exactly like casino games. Odds are skewed in exactly the same fashion in the house's favor, the payout is lower than the win probability. In the long run, the house always wins.

Also, as the industry relies heavily nowadays on trading where any event can alter the odds in real time, I guess the only way to cheat the system would be akin to insider trading.

https://en.wikipedia.org/wiki/Mathematics_of_bookmaking

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I think you're misunderstanding my point. You're completely right that the house sets the odds it it's own favour in order to make money, I'm not arguing against that.

My point is that setting odds in casino games like roulette is trivial, and there are no confounding elements that can suddenly make your odds wrong. In sports betting, setting the odds is highly non-trivial and pretty much impossible to do exactly. The better can look at the odds and consider whether they think the house has under-valued a certain game, which is possible, and bet on that. If the better is more well informed than the house, it's actually possible that they make a net win. That's completely different from a casino game, where the odds will never be in your favour.

I would argue that sports betting is a fair game, in the sense that the house sets odds, and you can consider whether those odds are in your favour or the house's favour. Obviously, they will try to always set them in their own favour, but (also obviously) they can make mistakes that are exploitable to a well informed better.

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HobbitFootreply
thelemmy.club

Unless I've got some insider information on specific athletes or I've done enough statistical analysis to gain a statistical analysis to gain an advantage over the house, I don't see myself getting positive expected value.

Also, it is in the interest of sports books for a rumor like that to propagate.

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lemmy.world

it is in the interest of sports books for a rumor like that to propagate.

Oh, definitely. I'm not sure about this at all, please don't take it as fact.

I completely agree with you. My point is just that with sports betting the playing field is actually fair, in the sense that anything can happen and that the bookies and the betters are considering the odds based on the same publicly available information. That differs significantly from games where the house is mathematically guaranteed to win in the long term, while the gamblers are guaranteed to lose.

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HobbitFootreply
thelemmy.club

Except that the payout for those bets are generally done so that the house takes a cut of the overall action. The vig is baked into the payout for sport outcomes; betting on all the outcomes equally isn't going to probabilistically give you the payout equal to what you'd buy in.

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betting on all the outcomes equally isn’t going to probabilistically give you the payout equal to what you’d buy in.

Exactly. That's why I'm differentiating between games of skill (i.e. sports) and purely statistical "casino games". It's possible to beat the house in sports betting, but only if you are genuinely better than the house at considering the odds. Of course, the house will always try to set the odds in their own favour, but it's impossible for them to know the exact odds. Thus, a well informed player can, in principle, identify the games where the house has under-valued an outcome and exploit those.

This basically boils down to the fact that in a casino game, the probability of every possible outcome is known exactly, so the house can trivially set a payout that benefits them. In sports, it's impossible to know the exact probability of a given outcome, so the house can make mistakes.

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lemmy.world

I agree if you're talking casino slots or pretty much any highly orginized "game" at a casino.

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piefed.social

I do it a little on UFC fights

I agree if you’re talking casino slots

Now is your time to shine and become smarter.

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I'm talking among friends usually only a hundred or two on big fights. I don't have or use any apps/books. Or sometimes 5-10 per fight if I have a few people over. I also have barely missed any events in years so my bets are pretty educated guesses lol. Again, this is money I can afford to lose and is just between buddies, it's still gambling/betting though.

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fedia.io

Gambling as an industry should not exist. It's just predatory.

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Not the guy you responded to, but I don't see why it should be illegal to form groups and clubs to gamble under the condition that there is no "house" taking a cut, or maybe (at most) that a flat fee is charged for membership to allow for overhead (i.e., rent, dealers, etc.).

Let's be honest, a flat out prohibition on gambling just means that it'll only be enforced against poor people shooting dice or making informal sports bets, while must rich people and organized crime get away with breaking the law as always.

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Like most things in life, in moderation it can be fun. Adding some stakes to an activity can make it more exciting.

It becomes a problem when people don't have the self-control to self-regulate, and when it's designed to prey upon those people specifically, or to prey on desperate people who feel like it's the only chance they have to get ahead, or who don't have a good understanding of the risks or chances of winning.

Humans as a whole are bad at understanding probability, and our brains are wired such that the happy chemicals we get from winning are more impactful than the unhappy chemicals we get from losing. As such, someone can be losing money overall, but still feel like they're winning, or at least, still get the rush from winning even though they're way down overall. That's dangerous, and gambling companies are designed to specifically target those people and exploit those destructive behaviors. It's like the experiment with the rat that was given a button to give itself happy drugs, and it just sat there pressing the button constantly. Basically, the regulations are necessary because of capitalism, and because without them, those people would very quickly ruin their lives given the chance while the companies running the operation give zero fucks about it.

Then there's the fraud. Look at prediction markets. They're rife with fraud and bet fixing and it's not only politicians and policymakers doing it. John Oliver had a piece on this recently where he goes into some detail, but there've also been articles about journalists getting harassed and threatened because they report on something that would cause a Polymarket loss.

In conclusion, some humans are shitty and we need regulations to keep shitty people from doing shitty things.

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Gambling destroys lives. Making gambling illegal may be controversial, but I can't see any reason to allow gambling ads.

If you want to gamble, then it's your own life to ruin. If you advertise gambling, then you are ruining other people's lives.

Ban gambling ads.

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You're technically always losing because it's in embedded in the programs and the host/casino/whatever cannot lose money. You have to be an idiot to be gambling.

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piefed.social

Im a victimless crime guy (I use the term loosely and am aware for anyone seeing the term that you can say the user is a victim or knock on effects) so like all this stuff being legal and have felt that way forever. I do want it highly regulated to minimize harm and I think it should be taxed higher than less harmful things. One thing I did not realize until legalization occured that advertising is really problematic with all these type of "adult" activities. So now I am a bit modified in my stance that I don't think advertising should be allowed outside of the establishments themselves. So no roadside signs about a casino at the next exit and such. To see cigarette, alcohol, drug, prostitution, gambling ads you should have to be in one of those establishments to begin with which should not allow minors. So like kids should not be allowed in liquor stores or bars even with a parent. Things like casinos can have hotels where kids are allowed but no advertising for it there. It should be treated as a seperate business that just so happens to have a path to the casino.

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Just remember that it doesn't matter if you have an addiction or not, the reason gambling establishments are as affordable or attractive as they are is because there are people feeding their entire life savings/retirement into them right now destroying their lives. They can afford for you to get that fun occasional win as long as the addicted keep them propped up.

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It's like alcohol. Kids should not use it. Most adults are able to use it in moderation and are fine. It's stupid but they are free to spend their money however they like. Some people can't handle it.

It should be regulated by limiting access to it, limiting advertising and protecting people that can't handle it.

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I can't necessarily find justification to ban it but it should come with warning labels and not be glamorized and advertised everywhere like it is. Casinos hurt communities. Gambling in general does. It just sucks money out of the lower classes. Lots of inheritances have been pissed away, lots of college funds too. It's not a net positive, and that gives society a voice in regulating the shit out of it. Now that the internet is here IDK what they can really do anyway though, at least before there was a trip to the casino required to lose a bunch of money.

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lemmy.world

Like all things, fine in moderation. Nothing wrong with friendly wagers among friends or spending some money playing casino games. The gambling industry doesn’t exist off the back of these players though and that’s the problem with it

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Wagers among friends is a different thing, and I do sometimes participate in that despite my general aversion to gambling. The stakes are kept low and it's all in good fun.

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piefed.social

Alex Trebek put it this way. "If I win $100.00 I don't feel that wonderful, but if I lose $100.00 I'm very angry."

My sentiments.

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lemmy.zip

Absolutely should be illegal. People will do it anyway, but there will necessarily be restraints on the way it fucks up peoples' lives. Same as underage drinking.

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Ironically I recently watched a like 2 hour video on that guy. Largest negative impact any human has ever had on the world and other humans (arguably I guess)

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lemmy.dbzer0.com

Personally, I think it's a total waste of money and addicting for some people. I don't think it should be illegal, but I do think that corpo gambling should be. Sportsbooks and their ilk are cancer, and gambling should not be something you can easily blow all of your money on from the comfort of your toilet.

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lemmy.world

Yeah having it as accessible as an app is really dangerous for some people. Shocking how much damage you can do with just your phone now.

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lemmy.dbzer0.com

Yeah. I wouldn't want heroin or alcohol to be able to be administered with a single push of a button, why let gambling be an exception? At least make people have to wait for delivery 😂

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My friends and I occasionally have poker nights, and its a lot of fun. Its funny how stakes of $5 or $20 - just a few dollars or cents at most for most hands - make a game much more exciting.

The problem is the casinos and sports betting apps...

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I don't enjoy it. I think it's sad when people get addicted to it.

I don't even like big random factors in games. One of the things I like about the dark souls franchise is there's very little randomness. You never win or lose because "lol critical hit", like you might in something closer to D&D

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It's not my thing, I do have a small basket of stocks I call gambling (they break even) and husband spends $2 a week on a lottery ticket.

Other than those I abstain, it's not really fun to me.

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John Ralston Saul's The Doubter's Companion - The Dictionary Of Aggressive Common Sense sums it up pretty well:

GAMBLING, STATE - RUN When governments raise money by acting as croupiers, the systems they manage are degenerate and are closer to their end than to their beginning.

The Burmese, for example, could always tell when a dynasty was close to falling; it would set up a state lottery. Early in the 1970s, Western governments turned to licensed gambling to provide the funds which TAXATION no longer seemed able to raise. This initiative has been blamed on many specifics: the financial crisis, tax reform which drastically reduced the contribution of the large corporations, the cost of social programs. The combined result was a lack of money which turned into DEBT and that debt into chronic restraint.

From the moment a government encourages its citizenry to finance the state by gambling — which means by idle dreaming — instead of through creativity, work and productivity, that state is in an unacknowledged crisis.

The only nation to have prospered via gambling is Monaco, which is not a nation. It is a corporation specializing in tax avoidance presided over by a croupier prince.

Personally, I think it's a mug's game.

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lemmy.nz

Sports gambling is based casino gambling is slop.

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I have no interest in gambling. I like watching sports, but I think gambling on it would ruin it for me since the outcome of the game would have a material effect on me.

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I worked in a casino in the late 90's. I dealt with supplying the coins and payouts for all the slot machines. When a machine would have a jackpot I could have the payout and paperwork printed and waiting before the techs could get to the machine. Everything would show up on my computer screen, including when there was a machine fill done.

Now ask yourself what prevents the machines from being "tighter" or "looser" at the push of a button or click of a mouse.

Every single game is designed to make the house a profit. The only way to truly win at gambling is to own the casino or not play.

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Gambling with your friends is ok, BUT it can create resentment if the stakes are more than a nominal amount. Even as little as $100 can mean a lot to some people and can create problems when someone thinks they can afford it, but they actually can't.

Gambling using a third party is throwing your money away UNLESS you have insider knowledge. It's a fact that the majority of people lose money on these, and a very small percentage of people make A LOT of money by "gambling" on events they can influence the outcome of, or have prior actual insider information on.

Essentially unless you're defrauding people, you are very likely getting defrauded yourself.

Gambling just isn't worth it in any context.

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I think it should be heavily regulated when not done informally.

Informal gambling is fine. Not my vice but you do you.

Gambling as a business should be heavily restricted because of its destructive and addictive nature. The current state of things is like if everyone had a tap with running vodka in their home. Sure plenty would be responsible, but the people who use it most would be the ones who need it to be less accessible, while the people who use it responsibly would be fine having to go outside town to a casino or something to get their fix.

Personally I'd prefer it only be legal in parts of my country where it's traditionally legal such as las Vegas and Atlantic City, but that's not an opinion I can firmly justify.

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Last time I gambled I won $90. Figured that was the best it was ever going to get, and gave it after that. Go out on a high note, right?

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I did it a few times at local horse races that i went to watch. I bet only small amounts for the fun of it, and i think it contributed a little to the whole atmosphere of the event. So, nothing serious. The most I won was, when i made a mistake and bet on a complete outsider by error. Then that outsider won, and from the proceeds i could go and buy me a new pair of jeans.

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I bet small amounts on NFL games when the season is active. $10-$20 a week.

I go to the casino a couple times a year with a set amount of money (usually $500), and if I lose that money, I leave.

I'm glad it's legal. Some folks get addicted, and that sucks, but the same can be said about booze, prescription drugs, and even food. We don't need a nanny state banning things because some people go overboard.

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Gambling is (mostly) a poison. I don't condone sports gambling, I don't go to casinos. I do like to play some poker and fantasy football, but there's a large element of skill to those. It's not as bad as playing slots or betting on the ponies IMO.

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I'm not much of a gambler. But I was addicted to a few substances many, many years ago, so I know how hard it can be to get out of an addiction and I don't agree with the "that's a relatively low amount (people) can afford to lose": addiction is a bitch, no matter how high or low, end of the debate as far as I'm concerned as an ex-addict. But I also do believe adults should be considered, well, like adults responsible beings... responsible for how smartly or stupidly they want to spend or waste their one and only life on this planet.

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It's fun but dangerous. My father's gambling addiction derailed my college career, though admittedly it was already on shaky ground. I've forgiven him for that but his addiction and the damage it causes is ongoing.

So: not a fan of casinos.

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feddit.uk

It's just a bad idea in general that doesn't actually bring any benefit whatsoever to our society.

People will always go on about "do what you enjoy" etc etc. I have no issues with people for the sample playing fantasy sports, which is gambling but for the sake of competition not for the sake of money (usually).

As soon as you start wagering things of value, or taking on bets with consequences which aren't part of the fun, then it's just a shit thing that will always result in someone being unhappy.

I guess that's my real issue with it, by design if it's something for enjoyment, why does it require someone else to be hurt? (even losing a small amount of money is by definition a meaningful "injury" to the person).

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fedia.io

A US state benefits from tax revenues. That’s why many of them have lotteries. Those help pay for public services (like education). I’d say that’s a benefit to society.

You’re right in wondering if it’s ethically acceptable, though.

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I'm talking about the action itself, not taxation. Taxation is separate to the gambling. In theory, if people didn't spend that money on gambling they would then spend it on something else which would also be taxed (or is taxed lower because the action itself is beneficial)

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lemmy.world

I would bet (pun intended) that the majority of fantasy football leagues have cash prizes. But it's like poker: a game of skill with an element of luck, and the better players come out on top in the long run.

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feddit.uk

There are many types of fantasy sport that are not just fantasy football. Also, it depends where the cash prize comes from, is it from people putting money into a pot? Or is it from the league itself as part of marketing and players only stand to benefit and don't stand to lose?

Another part of fantasy sport is that I think generally speaking, I don't think it has a focus on winning the prize, it's a focus on the entertainment value of the fantasy sport itself. Whereas the entertainment value of gambling is directly tied to winning.

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There are, and I've played many fantasy sports in my life. But the vast majority is fantasy football, it's like 80% of all fantasy leagues.

For most players, fantasy football payouts come from league members paying in every year. You're correct, most of the enjoyment of fantasy sports comes from the competition and camaraderie with the prize money being a nice bonus. That's one big reason I don't see it the same as other forms of gambling.

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I play micro stakes poker. Without gambling its likely that I wouldn't. Its something I enjoying doing, am able to afford, and entertains me for less than the cost of going to the cinema for, potentially, a longer amount of time. So I suppose I view it as entertainment.

I take part in regular live low stake tournaments, which are more of a social get together than anything really competitive.

I'll occasionally put a little on horses.

I think issues appears when there no bankroll. I allocate a set amount a month, if I spend it then that's it. If not then whatever is in the account rolls through. Been lucky enough that I dont have to top it up often.

I dont think it should be illegal, I do think there should be more done about awareness, approaches, and pitfalls. I also think there are personality types which are more prone to issues and that could be identified and addressed by looking at deposit and betting patterns, but the industry doesn't due to wanting to make money.

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There was a time that I actually had a bit of a gambling problem. Came into some money and decided to just not work for a couple years and live like Caligula. Casinos took care of a good bit of that money before I managed to stop.

And to me that’s the real issue. If you’ve got cash, don’t mind/care if you lose it playing some games, and can walk away without feeling any need to go back, hey, have at it. But if you’re like me and easily get hooked on shit and it makes you irresponsible, well, the casinos and the gambling apps will be just as happy to take your money anyhow, and pretend that showing you an 800 number to call about it is being responsible.

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lemmy.world

I don’t think betting on sports should be illegal. The problem is the endless advertising and the way sportsbooks have invaded and completely taken over sports coverage in the media. Feels like literally everything now is just about discussing under/overs and what Vegas thinks.

Call me crazy but I miss when sports was about sports.

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lemmy.world

Gambling is paying the idiot tax. Every game is rigged in favor of the casino (or whatever). On the long run, you lose and they win.

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I'll play the lottery as far in advance of a drawing as I can. You pay $10 to see a movie, it lasts 2 hours. I play $10 and dream for days what I'd do if I won. I have no expectations of winning though.

Other gambling? Nope. Very dumb, waste of money

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under capitalism governments need to have market controls to prevent products that only harm and trap users to enrich the producer

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When I was a kid in the eighties, slot machines were abundant and there was no age limit, at least not enforced. So we kids tried it, and basically I got lucky because I never won anything and have never tried them since.

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I only gamble by dabbling with crypto occasionally - same rules apply in that it's money I can afford to lose at the time.

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Very indefererent. I'll buy a $10 or $20 scratch off once a month or a powerball when the jackpot gets high. I'll play keno occasionally at a bar for a few dollars.

I've only been to small casinos about 5 times in my life but I rarely spend over $50. I would like sports betting to be allowed on phones where I live just to bet on a few games here and there.

These new bet on anything sites I can't stand and I think will ruin society more than the internet

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Sometimes if I have cash to spare, I'll throw it in a scratch-off machine and maybe get a few bucks back. Other than that, I think gambling is awful.

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I will not partake, I know that I can get hooked on stuff like that really easy, and have a hard time to walk away, but I have no problems saying no thank you at and not engage in it.

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I love petty, minimal stakes gambling. House poker. Prop bets with my coworkers. Sometimes I do squares for big games, brackets or pick ems for tourneys/leagues. Im spending 5, 10 or rarely 20 bucks on a fun activity with people. Its fun to do at work, while drinking, having a smoke, or just walking down the street.

I think gambling addiction is a serious problem and casinos need much heavier regulation with funding for addiction healthcare coming from their profits. I also dont support eliminating any native casinos in the US unless they are repaid by the federal government for breaking our original treaty obligations with these tribes and seizing their land. Its disgusting to keep taking from the tribes without giving any of equal value back.

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If it was just going to a casino and playing a few games I wouldn't mind it. The fact that it has infected sports and video games like the plague is what's really killing it for me. Sports is particularly horrible. You got dudes out there who think just because it's a $5 bet here and a $2 parlay there and they hit for $200 once 3 years ago means they're always on top. Then it takes away from the actual game watching experience. Bro comes in all miserable because they lost out on $100 by 1 pt or some shit, but their team won by 21pts. Just vibe killer. Go away. Then you got Mom involved in it who's irresponsible with her money to begin with. Complaining how her bills are past due, then dropping money on prop bets she never wins. I see this everywhere and it's fucking disgusting.

The people who create this stuff are just preying off poor dumb asses with no brains or impulse control.

Video games(NOT ALL, YOU KNOW THE TYPE) is programming our kids to feed into that from day 1. It used to be illegal and taboo. I'm not talking 50 years ago, I'm talking like 5-10. It was never this out in the open. People operated with integrity when it came to gambling. The addiction side of it was taken seriously. All that was thrown out the window. Now you got zombies sitting in smoke shops gambling away their meager savings then bumming cigs off everybody who passes by. This part of culture really fucking sucks.

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I don't really understand it. What's the appeal? Personally, at least, the moment I realise that there's nothing I can do in a game that affects whether I win or lose, I lose interest in it completely. Well, it's not like I'm completely oblivious to the mechanisms here, I also get a little dopamine boost when, for example, I get a critical hit in a video game and disappointed when an attack misses, even though I can only vaguely influence the probabilities of those things happening, but that only works as a little constant pleasure differential as seasoning to keep you on your toes, it would be completely pointless as something that cumulates into a single climax.

The closest I've come to understanding the appeal is that the thrill of not just possibly winning money but also the risk of losing the fruits of your labour (i.e. "real stakes", even if small), is pleasurable to some people...? But if that's what it is, quite frankly, that's seems less like seeking simple pleasure and more in the realm of depravity.

Anyway, I do think gambling is one of the dumbest dumbass dumb-dumb thing a person can do that doesn't involve scooping out your eyeballs with a dirty plastic spork. Even putting aside that the odds are never in your favour and so, it isn't rational thing to do, someone who starts gambling may not know they have the kind of addictive personality that gets them sinking into a bog, because that part of their character may have never surfaced, or only in low-stakes situations. So they're not just gambling with money, they're gambling with the very quality of their life.

Also, betting is just an inherently corrupting force. Even if you're only making small bets, even if you're not pressuring competitors to throw the match (if you even have the means to do so) or throwing banana peels into the ring to get the person you bet against to slip and fall or something, you're contributing to the payout to the people who are, incentivising that behaviour. There's no high payout for betting against the odds (and then working to make the unlikely the inevitable) if there's not enough livestock contributing to the pot.

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lemmy.world

I’ve tried to like it but I just can’t. How is it entertaining to just give your money away,, literally without anything of value?

I’ll do Super Bowl squares and March madness, because it’s a social activity. Once every year or so I’ll buy a lottery ticket for one night of amazing dreams.

But organized gambling, like casino, inline, track, sports bets always just feels like they are robbing me. I did bet at a horse track and a dog track a couple of times but it’s just so sad watching these old people piss away their social security checks. Now we have polymarket which seems like mostly a way for immoral politicians, celebrities, business people to enrich themselves with insider knowledge

Yeah, we need to ban for-profit gambling

1

Sure

  • church fundraiser
  • state lottery
  • Penny ante poker
  • social gambling like March madness or superbowl squares
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lemmy.dbzer0.com

Anything where you're putting money in and hoping to get more money out, where it's a zero sum game and any winnings will come from other people doing the same, is gambling imo. A gamble can be a good financial investment if you only do it in situations where you know you have some kind of edge, but doing it for fun is stupid because it fucks with your emotions and you're just going to get screwed out of your money that way. If you are playing against people gambling for fun, rather than playing against "the house", that might be one you can win.

Morally I think the ideal situation for gambling is one where people in bad financial situations get together so at least some of them can escape those situations. The worst is when people who don't need more money ensure all of the profits will go exclusively to them, and no one else will really win.

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Hissereply
programming.dev

Nono, the ideal situation for gambling is to use candies as currency.

2

Now that I'm thinking about it, I mainly have a gripe with people getting addicted to gambling. Can be in many different forms IMO; can be spending too much money at the Blackjack table (which is somewhat skill-dependent), whaling on lootboxes/gachas (where you'd literally never "win" money back), or even day trading (which is technically positive-sum)

In theory everything is fine in moderation, but then most gambling systems reward people to whale whether they intend it or not, so...

1

I don't think it should be illegal either, but there should defiantly be limits and protections in place so people don't piss away their life savings over a slot machine.

Often people in difficult finical situations are the most addicted to gambling or playing the lotto because they are manipulated with hopes of a life changing big payout.

One simple idea to help, have a seperate bank account. You get a special "gamble debit card" that you can deposit up to 5% of your earnings from the previous year. Any kind of gambling can only accept this card - including food/drink at the facility. Winnings can be cashed out or used to refill the card.

Even if this isn't a regulated thing, people can do this on their own - leave all the main cards at home and make sure you can't transfer money to your debit without physically going to a bank.

1

If it's casual between friends, you do you so long as it's consentual between all involved parties.

If it's at a real and/or digital casino using real money, I draw the line. Don't really support them personally.

If it's something like an old PC casino game I played growing up where there's typically no real loss besides your time, I'm okay with it. Same applies to games like Balatro or Clover Pit.

Advertising it? Haell nah!

Those online betting sites like the US ones where people have been using insider trading and tampering with sensitive equipment to win bets? Ban the hell out of them!

Sports betting? If it's consentual between a few friends/coworkers, you do you. Otherwise, I wouldn't support it because you don't know whether or not any sore loser will do their best to harass you or worse.

As for legality, I am not a prune about it. Especially since my fursona loves the whole concept of random dice and card luck and at least the card and dice games ( when confirmed not to be rigged ) are mainly pure luck.

1

It's all a scam as the house and all the intermediaries win, the client over time always loses, and somehow we keep doing it in the name of "fun"

1

I discussed this recently with a friend. Commercial gambling, e.g. slot machines, online poker, F2P mobile games, sports betting, etc. seems like exploitation of weak people. These products are carefully optimized for return of investment, which always means nudging people to play more, even if it's bad for them. This book is pretty good: Addiction by Design - Machine Gambling in Las Vegas

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