There's some intense opposition to betting here. It's odd because in the UK sports betting is pretty much embedded in the culture. In fact i'm pretty sure the only reason horse racing is even a thing is because posh rich people like to bet on it. It's something which even the monarchy implicitly supports. I'm anti gambling personally which is part of why i hate crypto but i don't get why sports betting in particular is so objectionable.
My charitable interpretation is that it's a way for fans to feel more invested in the game. When their team wins they also do.
I don't want betting to be illegal, but any rational analysis of it makes it clear that it is a net drain on the people involved in it, and when that proportion is large enough society as a whole is affected.
The reason why there's so much fixation on sport betting in particular is partly because it is doubly addictive (because emotions tend to run high around sports, team sports especially, so even people who might not have bet in a casino might be betting on a game by their favorite team, for example). And partly because, on top of all the other problems with gambling, it creates perverse incentives for the teams to fix games.
> It's odd because in the UK sports betting is pretty much embedded in the culture.
I remember being astonished walking around London for the first time 15 years ago after getting off the plane from the US and seeing a place called "Ladbrokes" that really would leave lads broke.
> I'm anti gambling personally which is part of why i hate crypto but i don't get why sports betting in particular is so objectionable.
There's a direct onramp from something very popular (sports) into sitting on your couch and losing all your money on your phone. It also makes sports worse for everyone who doesn't gamble on it too.
> I'm anti gambling personally which is part of why i hate crypto but i don't get why sports betting in particular is so objectionable.
Because, like the article said, 97% of users lose money sports betting.
It's like the lottery (which I also didn't like the states legalizing). You're essentially taxing poor / uneducated people but with sports betting that tax is a profit to some random businessmen.
It's just like a drug. Just because some people like it, doesn't mean we should allow people to monetize the addiction to it.
My charitable interpretation is that it's a way for fans to feel more invested in the game. When their team wins they also do.