Legalizing Sports Gambling Was a Mistake

Re:Legalizing Sports Gambling Was a Mistake by Spivak on Saturday September 28, 2024 @12:12PM (#41681135)

Yes, but those casinos didn't go bankrupt from players collecting too many winnings. It's still a business and if you don't get enough customers in to keep the lights on you fold.

Customer acquisition and retention is still hard. Especially when you're not the only gambling parlor in town. You're selling an addictive product which is extremely effective over a population but you don't have a moat to make sure they're addicted to specifically you.

But government and society don't care about a specific business, they're counting the number of people addicted by the industry in total.

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Re:Legalizing Sports Gambling Was a Mistake by AlbertCory on Saturday September 28, 2024 @01:55PM (#41681839)

Thanks. Having a good average profit over a player's bets gives you a head start, but (a) the amount of their bets, (b) the number of players, and (c) their loyalty all determine your gross profit. All of those are factors you have to work on.

And then your costs have to be less than that.

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