Minus several decades in rare cases but it’s going to be increasingly common.
Gambling always brings corruption. With on-premise casino games this is limited to inside of a single build own by people who have a vested interest in keeping things looking honest.
With sports betting, there are huge incentives to collude or even act alone which are very hard to distinguish from legitimate play.
Internationally, horse racing, cricket, rugby, and (oh boy) soccer continue to have huge problems.
But I do agree with increasing the friction involved in signing up and depositing money.
It should not be possible to 1) sign up for kalshi, 2) complete identity verification, AND 3) deposit and place a $2000 real money bet --- within 5 minutes of downloading the app.
It's just way too damn easy. Let's at least make people wait 24 hours before placing their first bet... or something.
I don't think the equivalent of waiting periods make sense.
If anything they should just ban advertising. Simple, worked for smoking for the most part, and we have precedent as it's harmful. Why does every sporting event have so many ads and sponsorships by these betting companies.
The worst thing about these sites is that they're necessarily net negative. If you win regularly, you'll be kicked off these platforms. They only want dumb money. True prediction markets are different since they're don't market makers and just enforce the contracts and there are people on each side. But the whole draft-kings type gambling markets are just awful
you know how, some bars, you can go on the porch and smoke a cigarette? others allow weed and it is illegal? and some ban smoking entirely (either, both) on the state or local level? sports betting was not SO bad when it was AC, Vegas and OTB... and maybe some shady weird dude whose name you got from some ghetto hustler that maybe had a few dozen clients. What is going on now is just disgusting. The sports is bad enough. People looking at odds for them doing or not something? seriously?
It should also not be possible to advertise it, and profits from it should be taxed above and beyond the level of what corporations that don't contribute to social malaise have to pay.
To a degree I'd argue gambling can be more insidious - it's quite hard to lose hundreds of thousands of dollars being an alcoholic or drug addict, and also quite a bit easier to hide from your family (until your husband or wife sees the credit card/bank statement I suppose).
i think we should also ban streaming video services, they're also really bad for society. want to watch sports? go to the stadium. want to watch a movie? go to the theatre.
The league must have the lowest esteem for its “fans”. It used to be that even 2 degrees separation from gambling killed a player or manager’s career (e.g. Pete Rose). Now the entire league is in bed.
Why are you even watching sports? It’s full of gambling , weed and porn ads.
Doesn't this weaken the argument that these prediction markets serve a distinct purpose other than gambling? I thought the idea was that prediction markets can help surface information, drawing on the wisdom of the crowd (some of whom might be familiar with the topic) to extract actionable insights. This is just sports betting, pure and simple... you can argue it's a market or a security, but whatever financial instrument you wrap it in, it's still just sports betting.
I swear about twenty years ago there was a minor controversy as a commentator said something like "you'll need to drop him from your fantasy team after that," as it was seen as promoting gambling.
Now players and teams will be displayed on screen with odds baked into the presentation and have it not even addressed by the commentator. Just normalized completely.
2007 I worked at MSFT, and they had a poker group. They were allowed to play in the communal spaces, but one of the restrictions was that there could be no variants in which a person placed a bet without seeing their hand. Under the Washington Admin Code for gaming, seeing your hand and betting made it a game of skill, betting (truly) blind made it a game of luck, i.e. gambling.
When I played Puzzle Pirates, it included Texas Hold’em Poker as one of the games for landlubbers. Many pirates found that they could amass large fortunes quickly at the tables, rather than slowly on the high seas. Many forum posters also explained how Poker Had Ruined the Game for sure.
Eventually, the high-stakes players graduated to “AoF” games by invite. You could go all-in on your hand, or fold it. That’s it; that’s the game.
Once in the mid-1990s I interviewed for a junior sysadmin job for a workstation VAR. I was rather reluctant to take the offer for many reasons. As soon as I came on-board, one of my coworkers explained that there was some kind of office betting pool and that it was not really optional, if I expected to maintain good relations. I declined anyway. Worst job ever.
What does "partnership" even mean in this context?
Does it just mean that the NBA will accept sponsorship money from these sites and how does that even work, since typically sponsorships want exclusivity?
You're allowed to think something is bad. We do not and cannot live without rules, we need to stop acting like every issue that nudges back and forth the line of where those rules start and end is the difference between absolute anarchy and tyrrany.
It used to be that horse punters were the only degenerates around. Now everyone is full-on degen. I typically find the phrase "late stage capitalism" stupid and overplayed. However, I think it applies. Only people who have given up hope get sucked into this stuff.
I've never used these bet markets. It seems everyone under 30 I talked to is very familiar with them, I see many young devs build projects around them.
I guess my q is this a generation gap? are we too old so we dislike it?
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[ 12.0 ms ] story [ 93.9 ms ] threadMinus several decades in rare cases but it’s going to be increasingly common.
Gambling always brings corruption. With on-premise casino games this is limited to inside of a single build own by people who have a vested interest in keeping things looking honest.
With sports betting, there are huge incentives to collude or even act alone which are very hard to distinguish from legitimate play.
Internationally, horse racing, cricket, rugby, and (oh boy) soccer continue to have huge problems.
https://en.wikipedia.org/wiki/Black_Sox_Scandal
There's a reason why we didn't do things we are currently doing, and it had nothing to do with "technology". We've been here before.
But I do agree with increasing the friction involved in signing up and depositing money.
It should not be possible to 1) sign up for kalshi, 2) complete identity verification, AND 3) deposit and place a $2000 real money bet --- within 5 minutes of downloading the app.
It's just way too damn easy. Let's at least make people wait 24 hours before placing their first bet... or something.
And stop allowing deposits with credit cards.
If anything they should just ban advertising. Simple, worked for smoking for the most part, and we have precedent as it's harmful. Why does every sporting event have so many ads and sponsorships by these betting companies.
The worst thing about these sites is that they're necessarily net negative. If you win regularly, you'll be kicked off these platforms. They only want dumb money. True prediction markets are different since they're don't market makers and just enforce the contracts and there are people on each side. But the whole draft-kings type gambling markets are just awful
If you want to add friction, just make sports betting IRL.
Also ban any gambling advertising.
Personally I strongly oppose gambling. But based on the trend line, up next for this same argument will be recreational drugs and premarital sex.
Why are you even watching sports? It’s full of gambling , weed and porn ads.
A degrading experience.
You forgot to include fast food ads, a mainstay of sports advertising!
Otherwise, I totally agree.
https://finance.yahoo.com/markets/options/articles/donald-tr...
This is basically Suharto level of corruption.
https://www.youtube.com/watch?v=7E5crppxBn8
It's crazy how dramatic the shift has been.
Eventually, the high-stakes players graduated to “AoF” games by invite. You could go all-in on your hand, or fold it. That’s it; that’s the game.
Once in the mid-1990s I interviewed for a junior sysadmin job for a workstation VAR. I was rather reluctant to take the offer for many reasons. As soon as I came on-board, one of my coworkers explained that there was some kind of office betting pool and that it was not really optional, if I expected to maintain good relations. I declined anyway. Worst job ever.
It’s sad and worse than any headline is saying right now.
But also, this shouldn't be allowed in any major sport wife they use any kind of public funds.
Does it just mean that the NBA will accept sponsorship money from these sites and how does that even work, since typically sponsorships want exclusivity?
Now, just 5 years later I squarely believe nobody should be touching this stuff, it's basically worse than Blackjack or Craps in every way.
Never thought I would see myself aligning with the more "Puritan/Christian" values.
I guess my q is this a generation gap? are we too old so we dislike it?
Funny thing is that it actually is a turbocharged version of other forms of lottery (see the "makers" vs. "takers" part).