zlacker

>>jimbob+(OP)
Sports gambling, like all gambling, ruins lives. It's certainly worth having the discussion about whether people should be able to run a train through their life and the lives of their families via app.

But a much easier argument against sports betting is that it ruins the sports. Players throw. They get good at subtly cheating. The gambling apparatus latches itself to the sport, to the teams and players, the umpires and judges, the sporting organizations. With this much money on the line, it's not a matter of if but when games are thrown, cheated -- the bigger the game, the bigger the incentive. It's even easier now because of the amount of side/parlay betting that is available. It exhausts the spirit of competition.

Sports gambling is diametrically opposed to sport itself.

>>mlsu+wN1
Extending the logic, should we ban the derivatives market? Cryptocurrencies/tokens that only seek to be a speculative asset (and not an actual currency). Venture Capital that seeks to use businesses as speculative assets (trying to artificially inflate the short-term share price of the business rather than its long-term health)?

I'm not putting up a straw man - I'm actually in favour of it. I agree that all forms of gambling ruins lives. We would improve society if we agreed that all gambling is bad.

>>marcus+9P1
The derivatives market is useful for hedging and for market efficiency. A lot of the nay-sayers I see tend to talk about how the nominal exposure is bigger than the market itself as if it were a compelling argument against it but it's not (the reason is that there is a counter-party for every "bet").

As for speculation around the "real" economy, in most cases it is widely talked about as the mother of all evil where in fact, the best way to increase the market value of a company is to turn it into a better company. And on the other end, companies go to 0 because they go bankrupt, not the other way around.

My point is that we are denying the entire market structure to punish the < 1% of bad actors, while it is quite useful for the rest.

Crypto is a different beast entirely. I have never believed in it and I still fail to see the value.