Re:Legalizing Sports Gambling Was a Mistake
by DoubleGlazing on Friday September 27, 2024 @09:52AM
(#41670476)
Being a savvy sports gambler will only get you banned though, the house always wins also applies to sports betting.
Re:Legalizing Sports Gambling Was a Mistake
by xhkkffbf on Friday September 27, 2024 @05:57PM
(#41675945)
But that's not true. I know several guys who make a living at it. The casinos don't care because they make their vig on the action. The only losers are the folks on the other side of the bets.
It is true that the casinos will find a way to ban people who find an advantage in traditional games like blackjack (think card counting), but that's different. In sports gambling, the profit is extracted with the vig/spread.
Re:Legalizing Sports Gambling Was a Mistake
by alberto_balsam on Friday September 27, 2024 @07:14PM
(#41676460)
There exists big sports betting exchanges like Betfair, where there isn't a "house" and where they don't really have an incentive to limit big winners. I have friends who make consistent profit from these sites - though it must be said they do ramp up the commission
And many jobs involve taking risks. Investment houses. Sales. etc. We reward those who take risks because society (often) benefits.
I find it much easier to argue against standard casino games because it's pretty easy to mathematically prove that the gambler will end up broke. With sports, it's a bit harder. As long as the vig is small enough, smart gamblers who know the teams can eke out a profit. If anything, sports gambling rewards study, thought, and focus, all things we should celebrate. THat doesn't mean I like. I would like to see it banned. But it means I have trouble arguing against it with any vigor.