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Love how the investor who authored that subthread was a founder of Betfair, and is trying to defend how ethical the JustFab business model is. ... his credibil
by jval 13y ago
Love how the investor who authored that subthread was a founder of Betfair, and is trying to defend how ethical the JustFab business model is.
... his credibility level on this topic is over 9000.
- javert 13y agoWhat's wrong with Betfair?
- gadders 13y agoHow is Betfair unethical?
- phpnode 13y agoit's a company that promotes gambling, it's obvious why some people would think that's unethical
- gadders 13y agoNo more so than, say, day trading.
- 001sky 13y agoGambling (for clients) is a negative-sum game. Market indices (that are not rigged) random walk but with an underlying drift. The claim that day-traders cannot beat the market (index) does not mean they need to mathematically be negative in returns (on average). So, this is patently false assertion.
- jval 13y ago.. how is Betfair ethical?
- gadders 13y agoIt lets people of their own free will exercise their judgement to wager on sporting and other events. Unless you think all gambling is by definition unethical for religious reasons, I'd say they were pretty legit.
- 001sky 13y agoGambling is mathematically negative sum. Its a fucking stupid tax. That is ethically dubious for non-religious reasons.[0] _______________ Betfair's business is illegal in the United States[1] Betfair faces millions in fines after content ruled illegal [2] [0] It is activity tolerated (cynically) for its ability to raise taxes, and even then only in small doses. But I believe if you do some google research, there are other concerns.[3] These include things like time-delayed feeds to support real time betting (and fraudulent front running) as well as a variety of your typical deceptive TOS pseudo-scams (bonus schemes, etc). [1] http://www.businessinsider.com/companies/betfair http://www.businessinsider.com/companies/betfair [2] http://www.smh.com.au/articles/2003/04/01/1048962760523.html http://www.smh.com.au/articles/2003/04/01/1048962760523.html [3] https://en.wikipedia.org/wiki/Betfair#In-play_betting_controversy https://en.wikipedia.org/wiki/Betfair#In-play_betting_contro...