1. People are getting rich. 2. If they can operate this aggressively here, imagine what they stand to suck out of less developed countries. (Same playbook as tobacco, fast food)
Jesus, what level of garbage do you need to be to take out a Dolphins loss or your parlay missing on your wife? That stat is somehow stunning but not surprising at all.
Shut these companies down or at the very least, set dollar limits by law. Make it like $1000 per SSN per year “The four VIP hosts looking after Mdallo knew that he was married with children, and knew that he was a problem gambler, because they spoke with him almost daily by text, telephone, or email, the complaint states. The hosts began by providing Mdallo incentives such as free bets and credits to cover his losses, in addition to gifts and trophies “for depositing money and gambling at levels far beyond his means.”
Respectfully, that is ridiculous. One man's $1000 is nothing and its the net worth of another. -DraftKings should actually follow their problem gambling protocols (they won't). -Gambling companies should not be publicly traded because the incentive structure becomes idiotic. -Rewards based on dollar amounts gambled should be illegal, you want to give someone a badge for hitting 5 bets in a row, cool, but milestones for -amount's risked is terrible. -Stop advertising, treat it like cigarettes -Also nitty gritty that will not make sense to most, but juice should be eliminated and/or limiting bettors without proof of cheating should be absolutely illegal. And I am someone who has worked in that industry and been a regular bettor for 15+ years.
as someone is currently working their way out of debt, this hits home hard for me it’s all good till the hole roll unravels on you good people get crushed with this shit and i am no angel but it’s absolutely demoralizing in multiple ways it feels like walking around handcuffed 24 hours a day when the bubble bursts
I’m 100% good with banning it. I enjoy it, but I can also control myself. A lot of people can’t, and these companies are preying on them Lives are being ruined. Something clearly has to change here
Buyer beware, it's for entertainment purposes only, etc. but I think most people using these apps on a regular basis are totally ignorant about the time and sophistication it takes to actually win consistently. Video poker machines also live in a morally grey area, but at least there's a guaranteed payout rate (at least in Oregon there is)
Should go back to you have to drive to some run down casino full of eighty year olds on oxygen to place bets Should be banned from apps
Banning it is dumb and punishes everyone. People ruin their lives in the stock market, we're not banning that. I'm all for the advertising being regulated tho. It's gotten out of control.
In my close group of friends we have two gambling addicts. My one friend is down 11k right now to our bookie and it’s sad as hell.
I don't think people should be able to trade options either. Regular investing is nothing close to gambling though
The biggest problem it has created is the get rich quick scheme. They advertise these parlays that hit big. And they’re miracles and not going to hit often. The books are making most their money on parlays. No advertising would be a great start.
I have to bet parlays occasionally so I look dumb enough that they let me bet a lot on good bets It's a ridiculous predatory system
There has to be some sort of human blindspot to people new for parlays and the astronomical odds of winning one.
It's been studied and I've heard it referred to as the narrative effect. People are able to come up with a story in their heads about how something will hit and gloss over what the odds of all of them winning is "Oh man, if the Chiefs win obviously Kelce's going to have a touchdown and Mahomes will probably have at least two passing easy"
People should have to earn a license to parlay by experiencing something like going to a roulette wheel and having to place five or six bets on red or black in advance and lose everything if one misses.
It's nice being at the table when that happens because half the people will tell you red is hot because it's hit four in a row and the other half will tell you black is due! Spoiler Shit, it landed on green!
my brother works for one of the betting companies in the tech side, said every weekend employees are sharing the parlays they're doing in the work chat. they know INTIMATELY that they're just giving their employer money and yet they still do it. crazy stuff
I was being a moron playing video roulette instead of the one that isn’t easily capable of being rigged and had a streak of 8 straight where I picked the same color, and all 8 were the other color. Not even a 0 or a 00. That was like a vaccine for gambling addiction so WHO REALLY came out on top Vegas!?!?
I think one of the biggest changes is the age that kids are exposed to it. I was already in my 30s by the time we got an app here. I'll bet like $20-30 a week on a standalone game I'm watching or whatever and I don't think about it again until the next TNF/SNF. But you have kids now that are training their still developing brains to bet absolutely dumb (for them) levels of money constantly and it all feels normal because all your friends do it too.
Relating this back to the conversation at hand: lots of experts think the sportsbooks are getting too greedy too early in this process. They're going to bankrupt and burn through potential clients too fast. They could bleed people at 2% edge for the rest of their lives but they keep pushing 10-12% edges and people are just losing and losing and giving up/going bankrupt
I grew up in a household where my parents would go to Vegas a couple times a year and 4 trips or so a year to Biloxi. I'm a degen gambler and am down six figures lifetime and it took me 13 years and a filing for bankruptcy to understand how stupid it was. I find myself lucky I didnt grow up with an app I could use a credit card to deposit money to bet on sports. It really needs to be reigned in as far as regulation and federal laws holding these companies to accountable but we know that aint happening
It's pretty fucked up there are rich influencers convincing kids that betting tons of money you can't afford to lose is cool, particularly while it's literally pennies for said rich influencers.
stories like yours are going to become increasingly common, yet the vulture media will still put out stuff like this
also this, Streamers like Adin Ross, Nelk Boys degening on camera plus college kids selling picks through tik tok and IG reels becoming millionaires over night while thier customer base not understanding actual handicappers dont sell bets and you never hear of them flaunting their life style
Vegas profits are down this year and multiple new casinos on the strip are in trouble losing millions every month. we'll see if that continues
the actual article is fine, it basically calls Americans stupid for rushing into it without regulation but prefers a well-regulated gambling market to an underground one
the proliferation of scam crypto gambling sites that give influencers millions of dollars THEN give them millions to gamble with in front of their 12yo audiences is some of the bleakest stuff on the internet