3 ms·
the most destructive types of gambling are the things like slot machines and casino games that offer no wisdom of crowds external benefit, and are -EV no matter
by the_cat_kittles 13y ago
the most destructive types of gambling are the things like slot machines and casino games that offer no wisdom of crowds external benefit, and are -EV no matter what you do. the type of gambling you are talking about happens in things that are usually called prediction markets. lots of effort has been made to harvest knowledge this way, and it works well. And, fairly, I dont think prediction markets are stigmatized the same way casinos are.
- iamwithnail 13y agoThis, this this, x1000. The bulk of gambling problems in the UK (where gambling is completely legal in almost all its forms) primarily centre around Fixed Odds Betting machines in shops, rather than market based betting. The latter can still cause problems, but they're not as immediate as FOB machines, which are a blight on communities, tbh. I have 8 bookies within a half mile radius of my house, and I can tell you - basically nobody is gambling on the horses.