AFAIK horse races and slot machines are regulated, so they are required to operate within a framework. This "guarantees" that you are not investing your money o

AFAIK horse races and slot machines are regulated, so they are required to operate within a framework. This "guarantees" that you are not investing your money on rigged horse games or on slot machines misrepresenting your odds of winning or outright lying to you. IMHO the correct reaction to this should be to make regulation requirements accessible and manageable so that the overhead is not prohibitive to smaller entrepreneurs. No regulations will create lemon markets and lemon markets don't self correct because the people who turn in it into lemon markets can just walk away rich.