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50 sats \ 2 replies \ @kristapsk 26 Mar \ on: Sports and Betting Stacker_Sports
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.
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.
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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).
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