4 ms·

I hate lotteries and gambling in general. Take from the hopeful, give to the lucky. And the house (almost) always wins. Yes, I have some respect for those who c

by abnry 3y ago

I hate lotteries and gambling in general. Take from the hopeful, give to the lucky. And the house (almost) always wins. Yes, I have some respect for those who can game the system, because I like the house losing, but their winnings are still taken from the hopeful (or worse, the naive and stupid).

ecf 3y ago
On the other hand, I love gambling in general. Take from the stupid, tax the ever loving hell out of it, and give to the schools. I expect to lose 100% of what I go into a casino with. Those who think they can make a profit from it are profoundly stupid.
- d1sxeyes 3y ago
  If you’re playing against the house yes, statistically you’re gonna lose over time. But in games where your winnings come directly from beating others rather than pure luck (poker is a popular example), you can indeed beat others based on your skill. That said, there are still a lot of factors you cannot control (like the skill of your opponents, luck of the draw) which mean your approach is absolutely the wisest. Anyone who walks into a casino with money they can’t afford to lose is setting themselves up for failure (both at the table and potentially in life).
toss1 3y ago
I've long referred to the lottery as an Innumeracy Tax. More to your point, the New York lottery long had a marketing line: "All you need is a dollar and a dream." My friend's riposte was: "We'll keep the dollar and you can keep the dream"
ryandrake 3y ago
> I hate lotteries and gambling in general. Take from the hopeful, give to the lucky. Sorry, but you've just described the underpinnings of our current winner-take-most societal-wide economic systems. Every day, more and more of our systems are rooted in luck. Being born to the right family, getting into a prestigious university, getting a good job, timing the housing market, investing in the stock market, starting a business... Everything is "take from the hopeful, give to the lucky".
- abnry 3y ago
  Nope. But even if you are correct, lotteries and gambling have more of the essence of "take from the hopeful, give to the lucky" than any of the things you described.
  - DropInIn 3y ago
    Don't 90% of businesses fail in the first 5 years? Sounds a whole lot like the same with a different veneer....
  - mfru 3y ago
    Not sure if you noticed, but having success is determined by (optimistic estimate): - 25% hard work (required for most people) - 75% luck (where you are born + how you were raised/educated + general luck) It is called life/birth lottery for a reason.
  - ryandrake 3y ago
    > Nope. Well, you got me there. Can't argue with that. Have a great Sunday.
- therealdrag0 3y ago
  Why is this more and more?
toast0 3y ago
Even if you have an angle, the house still wins. If you buy all the possible tickets for a large progressive jackpot, it doesn't hurt the house at all. They get their commission on all those tickets, the jackpot money comes from the players, and the house has to pay out the required % one day or another.
trompetenaccoun 3y ago
That's why in most countries the government has the monopoly and no one else is allowed to run lotteries. It's like an opt-in tax with a gambling element, you can choose to give the government even more money and most likely won't get much in return.

by abnry 3y ago

ecf 3y ago

On the other hand, I love gambling in general. Take from the stupid, tax the ever loving hell out of it, and give to the schools. I expect to lose 100% of what I go into a casino with. Those who think they can make a profit from it are profoundly stupid.

d1sxeyes 3y ago
If you’re playing against the house yes, statistically you’re gonna lose over time. But in games where your winnings come directly from beating others rather than pure luck (poker is a popular example), you can indeed beat others based on your skill. That said, there are still a lot of factors you cannot control (like the skill of your opponents, luck of the draw) which mean your approach is absolutely the wisest. Anyone who walks into a casino with money they can’t afford to lose is setting themselves up for failure (both at the table and potentially in life).

toss1 3y ago

I've long referred to the lottery as an Innumeracy Tax. More to your point, the New York lottery long had a marketing line: "All you need is a dollar and a dream." My friend's riposte was: "We'll keep the dollar and you can keep the dream"

ryandrake 3y ago

> I hate lotteries and gambling in general. Take from the hopeful, give to the lucky. Sorry, but you've just described the underpinnings of our current winner-take-most societal-wide economic systems. Every day, more and more of our systems are rooted in luck. Being born to the right family, getting into a prestigious university, getting a good job, timing the housing market, investing in the stock market, starting a business... Everything is "take from the hopeful, give to the lucky".

abnry 3y ago
Nope. But even if you are correct, lotteries and gambling have more of the essence of "take from the hopeful, give to the lucky" than any of the things you described.
- DropInIn 3y ago
  Don't 90% of businesses fail in the first 5 years? Sounds a whole lot like the same with a different veneer....
- mfru 3y ago
  Not sure if you noticed, but having success is determined by (optimistic estimate): - 25% hard work (required for most people) - 75% luck (where you are born + how you were raised/educated + general luck) It is called life/birth lottery for a reason.
- ryandrake 3y ago
  > Nope. Well, you got me there. Can't argue with that. Have a great Sunday.
therealdrag0 3y ago
Why is this more and more?

toast0 3y ago

Even if you have an angle, the house still wins. If you buy all the possible tickets for a large progressive jackpot, it doesn't hurt the house at all. They get their commission on all those tickets, the jackpot money comes from the players, and the house has to pay out the required % one day or another.

trompetenaccoun 3y ago

That's why in most countries the government has the monopoly and no one else is allowed to run lotteries. It's like an opt-in tax with a gambling element, you can choose to give the government even more money and most likely won't get much in return.