5 ms·
I think betting needs to work like credit cards. When you get a credit card the bank does a risk assessment to evaluate your line of credit and you won't be abl
by gchamonlive 1y ago
I think betting needs to work like credit cards. When you get a credit card the bank does a risk assessment to evaluate your line of credit and you won't be able to spend over that limit.
Well, sports betting could have the same mechanism, where you are only allowed to bet an amount proportional to your line of credit.
If the banks don't trust you to spend over that limit and honour your debt, why should betting houses be any different?
- mc3301 1y agoNo. Don't make it different per person. Make it a blanket "maximum." Sure, one could just have multiple apps or accounts with multiple companies... Either way would be hard to regulate. If we truly believe that sports betting (at this scale, at our fingertips on our phones, unlimited) is bad... trying to band-aid it won't work.
- gchamonlive 1y agoI do believe the more money you have the more money you should be allowed to throw away irresponsibly. I mean, that's true for all other products...
- mc3301 1y agoMaybe you get a maximum based on your tax return or something?
- gchamonlive 1y agoIt could work, but I think it'll have a hard time passing legislation, because it's restrictive for upper classes.
- mc3301 1y agoMaybe we could have a system in which your vote gets less power, the more money you have. Based on your tax return or something?
- gchamonlive 1y agoNot sure I get it. Voting on what? I'm confused.
- mc3301 1y agoI was making a silly joke imagining that the richer one is, the smaller their voting power is. Thus things might have a chance that otherwise would have a hard time passing legislation simply because they are restrictive for the upper class.
- khuey 1y agoThe problem is that the incentives are exactly reversed. Banks limit your credit because they don't want to lose their money. Sports betting/casinos/etc want you to place bigger bets because they want you to lose your money.
- gchamonlive 1y agoI agree, banks have in their best interest that they don't loose money and bet houses have in their best interest that you lose yours. So if there aren't any natural incentives you just make up artificial ones. One such mechanism is regulation, just like with the tobacco industry.
- charcircuit 1y agoIt's the same for casinos. If you buy $50k of chips, lose them to someone else in poker and they redeem them. If your $50k purchases bounces the casino loses money.
- kqr 1y agoWait whose money do you think is in the bank? Banks are funded by depositors' money and they absolutely play fast and loose with it when not regulated.
- MyOutfitIsVague 1y agoThe conversation is credit cards, in which case you are absolutely paying with the bank's money, and if you don't pay it back (particularly if you can't and declare bankruptcy), they lose their money.
- mattclarkdotnet 1y agoThat is not true at all. Banks are not funded by depositors money. Banks create money when they make loans, and destroy money when loans are repaid. Deposits in current accounts are liabilities from the bank’s point of view.
- kgwgk 1y ago