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[return to "Legalizing sports gambling was a mistake"]
1. vitorb+UI1[view] [source] 2024-09-27 03:50:16
>>jimbob+(OP)
Unfortunately Brazil also legalized it in 2018, after Dilma was impeached using very sketchy arguments (many call it a legal coup).

It is spreading as a cancer. This month the central bank published a report saying that in August 20% of the Bolsa Família, the largest money transfer program for very poor Brazilians, was spent on these bets.

Out of the 20 million people that receive it, 5 million made bets during that month. This is 2 billion reais (about $450M) spent in a single month by the poorest Brazilians.

It's a cancer. Everywhere you go there are ads. The influencers, the biggest athletes and musicians are marketing it.

Although I tend to be liberal, this needs to be heavily regulated.

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2. erfgh+rZ1[view] [source] 2024-09-27 06:51:48
>>vitorb+UI1
The figures you state are misleading. Money bet is not money lost. For example, roulette payout is 97.3% and sports betting payout can be as high as 99% or even 100% (done to attract players so that they open an account).
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3. nullc+x62[view] [source] 2024-09-27 08:03:49
>>erfgh+rZ1
Pop quiz: What's better for your wallet? a game with a 66% expected payout that you will play twice before you lose interest, or a game with a 97.3% payout that you'll play 31 times on average?

The comparison needs to be in terms of typical use, otherwise engineering for addictiveness gets a free pass because it often hinges on frequent small rewards and can have a near unity return on a single shot basis yet be a big money maker for the house.

Of course there are probably 'safer' forms of gambling that some addicts are presumably able to use to maintain their addiction at a level which isn't disruptive to their life. ... but single shot EV isn't the right metric. Some weekly state lottery usually has pretty poor EV, yet is seldom ruining anyone.

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