Sports and Betting \ stacker news ~Stacker

1249 sats \ 18 comments \ @Turdinthepunchbowl 26 Mar Stacker_Sports

Below is largely my opinion, but what is everyone's view of sports betting? It's become widely legal in the US, almost pervasive in the way it's marketed. I partake sometimes, and was in favor of it's legalization. I am much less in favor of it's universal spread and advertisements. I believe it does harm, both to people and the sports themselves.

One one hand I believe people should be free to gamble if they want. But on the other hand, much like the lottery it's usually partaken by those that shouldn't as they don't have the resources. The advertising, the promos, the discussion on any sports media of betting lines. It seems to just create addicts.

Even worse, the integrity of the games should be more in question. I remember the Kings vs Lakers WCF series that everyone claimed was rigged, now with betting everywhere, it's hard not to think someone, somewhere is influencing outcomes of games. Just this week there have been headlines about Ohtani, a couple years ago Calvin Ridley in the NFL, and this morning a story out of the NBA. Wonder if we can ever put the genie back in the bottle, or reign it in in some capacity.

Thoughts?

https://www.espn.com/nba/story/_/id/39808900/nba-eyes-raptors-jontay-porter-betting-issues

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160 sats \ 6 replies \ @Undisciplined 26 Mar

I agree with you about there being issues with the integrity of the sports that are being bet on. The leagues are going to have to go to greater lengths to demonstrate transparency in officiating and somehow adopt more corrective measures. Even if there's no actual influence on outcomes, there will be the perception of influence.

I think it needs to be legal. We're either free people or we're not, so we just have to accept that some people will make poor choices. I also don't think gambling is qualitatively different than any other hobby or pastime. People do all sorts of leisure activities that cost money. The most financially reckless people I know have absolutely no interest in gambling.

210 sats \ 5 replies \ @Turdinthepunchbowl OP 26 Mar

I think it should be legal but at a minimum should be less the focus of the league and advertising, kind of like Cigarettes are not advertised on TV and other types of media. Pete Rozelle said something along the lines of the appearance of a lack of integrity is a bigger threat to the NFL than lack of integrity itself, or something like it. Can't remember the quote.

I think the gambling of today will likely result in increases of problematic behaviors that manifest itself in new ways we previously hadn't seen. Most gamblers are young men, and your smart phone is already one of the most addictive things on the planet.

I am with you, it should be legal, hell I think drugs should be legal. I just don't think we should allow open peddling of it, like we do with gambling currently.

50 sats \ 4 replies \ @Undisciplined 26 Mar

I wonder if the advertising will become less incessant as people become accustomed to sports betting. It might just be advertised so aggressively because it's fairly new and there are still lots of potential customers out there.

21 sats \ 3 replies \ @Turdinthepunchbowl OP 26 Mar

I thought that years ago, mainly when daily fantasy burst on the scene, but gambling has been legal for years now. Beyond the obvious advertising, the sports books also use advanced AI and analytics to offer promos and things to suck people back in. So while we see lots of ads on TV and media, the vast majority are push notifications and emails, trapping existing users in a problematic cycle.

50 sats \ 2 replies \ @Undisciplined 26 Mar

the vast majority are push notifications and emails

Interesting. I didn't know that.

21 sats \ 1 reply \ @Turdinthepunchbowl OP 26 Mar

I'll be sure to mention I don't have data to support that, so it was mostly hyperbole. But once you have the app, the amount of data they collect and use to offer promos to retain and keep you engaged is pretty staggering. So it's not farfetched to believe the advertisements you see on TV are outweighed by the advertisements used to retain/keep customers via promos and bonuses.

50 sats \ 0 replies \ @Undisciplined 26 Mar

No, it makes sense. I just wasn't aware.

100 sats \ 1 reply \ @BlokchainB 26 Mar

I was in the camp of wishing to see sports betting implemented beyond Vegas.

I bet on games just to make things a bit more fun but I have friends who have lost thousands trying to make money on betting. Joining betting groups and placing $1k bets with no sweat.

I don’t think a full out ban is the answer it’s more people need to have more personal responsibility. As far as the players go and the refs the money is already so large I don’t think the players really care like they used to.

Look at all these rule changes in the nfl hearing people refer to NFL QBs as $500M assets. The money is too large now and betting will just compile that. I would almost welcome letting the players bet. All the eyeballs that are on sports now if people are point shaving or dogging it people will notice but my overall point is the integrity of the game is already compromised due to how much money these athletes make.

200 sats \ 0 replies \ @Turdinthepunchbowl OP 26 Mar

Yeah I heard a story from my brother in law where he knows a man that had to move back with his parents due to gambling. Self discipline is needed, I put like money in a sportsbook each NFL season and it adds to intrigue of games, but I am well off enough that it doesn't matter and I am disciplined enough to not double down. However, I may also be lucky enough that sports gambling wasn't very accessible in my formative years. It's strange, but my mind always comes back to BTC, and how many people are practicing financial nihilism at young ages because the future prospects aren't great. Leading to more and more risky behavior, including betting away your income/savings in hopes to make it vs attempting to make it.

60 sats \ 1 reply \ @grayruby 26 Mar

It would be nice if I could watch a game without a gambling ad every 6 minutes and without them cutting to the fanduel current odds and parlays the hosts are choosing throughout the broadcast. I heard some NBA broadcasts are now putting live odds on the screen during the game. This is a classic case of the pendulum swinging too far.

50 sats \ 0 replies \ @Turdinthepunchbowl OP 26 Mar

Yeah, it's mainly the pervasive ads I hate. The betting lines are now some of the main talking points about the games or athletes. Almost overshadowing the game itself. I suppose it makes the sports more socially interactive with fans, but it has tremendous downside and second order effects. I think these scandals will start reducing how visible leagues want it. However it's big business, so we will have to see.

50 sats \ 2 replies \ @kristapsk 26 Mar

I like betting, it makes watching matches more interesting when you are neutral spectator, not fan of any of the teams. Also you can be profitable if you bet on the sports you are following and analyzing enough, it's not pure lottery, key is to figure out when bookmaker odds are calculated wrong. But I'm doing that with small amounts, my default bet is isually around 5 EUR on event. And I never bet against teams I am fan of.

About integrity of the games - in a lot of leagues players are forbidden to bet on their games or even do any sports betting at all. I think that's stupid, it's ok to put money on the bet that your team will win. But of course it's more nuanced with bets like over / under goals, etc. But anyway, we are in era of anonymous Bitcoin betting options, so it's hard to control that.

Another thing about legality of betting and Bitcoin - USA based sites like Coinbase at least in the past used to close people's accounts for sports betting / online gambling activities, although it has always been legal in Europe and elsewhere.

0 sats \ 1 reply \ @Turdinthepunchbowl OP 26 Mar

I am a fan of gambling too, I just think the risks involved aren't well enough understood by people partaking. Yes, they should be aware of what they are doing, personal responsibility is important. However, the best gamblers in the world, who analyze and pick their spots, still can get rekt. The online sports book apps aren't targeted at the informed, they are designed to take advantage of the uniformed, and hook them, encouraging spontaneity and emotional decisions. It's why promos and in game parlays, and "risk free" bets exist. I think we can rationally still have sports betting, while reducing harm by eliminating the way it's advertised and the manipulation being done by the books themselves. I know BTC betting exists, I used to deposit it Bet-Online back in the day, but this mainly comes in to discussion around the accessibility and pervasiveness of the casinos today.

There is no right or wrong answer, I'm firmly on the side it should be legal, I think in its current form it's harmful.

In regards to the leagues, I'd like to see something done, but this is business so until regulations come, why wouldn't leagues sweep scandals under the rug and reap in millions.

10 sats \ 0 replies \ @kristapsk 31 Mar

For the most parts I agree with you. Betting sites need to make money, not make their clients rich, that's their business. Usually if you will add opposite bets, total probability by odds will be 90%, not 100%, that's how they make money. Every smart person knows there are no such thing as risk free bets. Even fixed games aren't risk free, they can fail (and I'm totally against fixed games). You don't bet on things with too low odds at all and your unit size for most risky bets should not exceed 2% of your total bankroll. There are similarities in risk management with sports betting and financial markets. If you understand that and are disciplined it's hard to get rekt (basically, you can get rekt only if you bet more than you can afford to lose).

50 sats \ 3 replies \ @riberet19 26 Mar

In my country it's legal, and I'm not against it, I was involved in sports betting for a few years, I bet on NBA, European football, and tennis leagues, but when I took stock and saw that it was in negative with a lot of money lost, I decided to quit, I think that if you do it with little money and just for fun, there's nothing wrong with it, but you have to be careful not to take it as if it were a job or anything like that, you can end up addicted to it and lose a lot of money

10 sats \ 2 replies \ @Turdinthepunchbowl OP 26 Mar

Yep, I typically had a set amount I deposited before each NFL season. Would lose it all quickly, and never redeposited. I didn't last year as I viewed it as a waste, instead just purchased Sunday Ticket so I could watch all games. While being disciplined and aware enough to stop is important beyond just gambling, I'd be foolish to think the outcome would be the same if I was 21 with a smartphone and app, and in college where perhaps the true value of money hasn't set in. I think we will see a wave of young adults with poor habits as a result.

50 sats \ 1 reply \ @riberet19 26 Mar

You are right, in my country, a country of less than 50 million inhabitants, it is estimated that almost 85% of adults participate in some form of gambling, according to official data, and there are casinos and betting houses on every corner in the city, you can get an idea of the magnitude of this.

0 sats \ 0 replies \ @Turdinthepunchbowl OP 26 Mar

That's a pretty crazy high percentage. Casinos are somewhat difficult to come by in the US, but that mainly depends on where you reside. Online sports books, and now they are opening online casino games via smart phone apps, are going to change that pretty drastically.