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When someone wants to setup a casino that awards players with real money for winning, it's heavily regulated. Sure, they're allowed to set extremely favorable o
by Apreche 3y ago
When someone wants to setup a casino that awards players with real money for winning, it's heavily regulated. Sure, they're allowed to set extremely favorable odds for the house, so it's still a scam. But they actually have to publish those odds and abide by them. And lucky players do actually come out ahead. Slot machines do occasionally pay out jackpots. The most important regulation, IMHO, is we do not allow minors to participate in this activity. This regulation doesn't seem very controversial.
But what if someone sets up a casino where there is no chance of a cash payout? No matter what, the player loses 100% of the money they put in. For some reason we do not regulate this kind of casino at all! It's totally wild. This kind of casino should be the MOST regulated, or banned entirely. Worst of all, we let children participate!
Slot machines that use worthless virtual currency, award only virtual currency, but let you buy virtual currency with real currency? Playing one of those is worse than playing a real slot machine, or even playing a rigged real slot machine! At least both of those have some non-zero chance of paying out real money.
Lootboxes in video games? That's gambling with a 0% payout. All you get are worthless JPGs. And we let children participate!
Crane games at the arcade? Those are just vending machines with programmed odds. They are gambling! We let children play them.
Baseball, Pokemon, or Magic cards? Other collectibles that come in blind boxes or sealed packs? These are gambling! Sure, some will argue that these are different because no matter what you are getting some minimum prize. A pack of Pokemon cards will always contain 10 cards no matter what. Well, what if I make a $5 slot machine that at minimum always pays out 50 cents no matter what you spin? How is that different from a $4.50 slot machine that has the potential to pay out $0? Changing the odds and payouts doesn't make it not gambling.
IMHO, all of these activities should be completely banned for children. No games of chance whatsoever if they cost real money per-play.
As for adults, consenting and informed adults can throw away their money if they want. But all of these activities should be heavily regulated. And the casinos that don't pay out a cent should be MORE heavily regulated than the normal ones.
- sokoloff 3y agoA lot of entertainment falls into this category though. A $15 movie ticket has a 100% to consume ~2 hours of your life and pay you nothing. A $5 order of fries will pay you about $0.50 worth of potatoes. Go to a ballgame and it’s just as bad as the movies; they’ll charge you for expensive food and drink inside and your favorite team might not even win. Trying to draw a bright, defining line between watching a movie and buying a video game and playing an arcade game or Skeeball seems practically impossible. We don’t want to force everyone to be stuck at home playing “blow the ball of yarn to the opponent’s side of the table”.
- zeroonetwothree 3y agoThose analogies aren't good because the outcome is not randomized. That's what makes things addictive and dangerous (especially for children). I think it's very easy to draw a line. When you pay money, the result has to be specifically given up front. It cannot be based on random chance. If you wan to buy a Pokemon card you have to buy a specific card (or a set with fixed cards included). If you want to buy virtual clothes for your avatar then you have to buy specific objects. If you want to buy a doll then you buy a specific model, not a random box.
- ikr678 3y agoMost of the reasons real money gambling is regulated is to do with stopping money laundering, not protecting gamblers. The incentives for the govt to regulate virtual gambling sims(that don't pay out) arent as strong, especially when these companies pay tax on that VIP revenue.