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Like all gambling it also has disproportionately negative effects on people who are already poor.
by micromacrofoot 2y ago
Like all gambling it also has disproportionately negative effects on people who are already poor.
- mock-possum 2y ago‘Gambling is a tax on people who are bad at math’
- JohnMakin 2y agoNot always in the case of sports betting - although there are definitely math "taxes" like parlays and point buys and heavy chalk. Plus all the predatory "promotion" stuff they will throw out. Sharp bettors do exist though, and do make quite a bit of money. They're less than 1% though.
- johngladtj 2y agoYes, always. There is nothing unique about sports gambling here.
- JohnMakin 2y agoWith all due respect, absolutely not? If a book puts out a line of +200 and you've determined there is a certain percentage chance of winning, your expectation easily can be positive. The "gambling is a tax for those bad at math" is a misconstrued quote that usually applies to completely negative expectation games, such as scratcher tickets, in which the more you play you will always lose in the long run. There are very precise mathematical terms for these things, and strictly, you are wrong. You can extend this to things like poker as well - is that a tax on people bad at math? Of course not, that'd be a stupid argument, because it's not a purely negative expectation game.
- Loocid 2y ago>There is nothing unique about sports gambling here. Sports betting exchanges are unique compared to other traditional gambling options.
- nba456_ 2y agoIt disproportionately affects people who are dumb, not people who are poor. Though the two can be correlated.
- returnInfinity 2y agoI have friends who are extremely smart, but they find gambling addictive and lose control of themselves in a Casio. Its a genetic issue. You could end up with children who have the same issue.
- micromacrofoot 2y ago...that's still bad?
- Dylan16807 2y agoI would say that it's proportional to both, even if you factor out correlations.