alt Hacker NewsAll these gambling apps need regulation. And I fear they are buying politicians precisely so that doesn't happen.
If I were to have my way, I'd put a law in place that limits bets to $5 max and monthly bets to $150 per month. Letting them go higher encourages some of the worst aspects of society.
We will see crazy things like athletes being injured or murdered in order to win bets. We are already seeing crazy things like white house insiders placing bets on when wars will start.
One of the few ways to really solve this problem is reducing the possible amount of award so the individuals placing these bets don't feel like they have to take matters into their own hands to win.
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for a while i was using the sports gambling apps to make lots of little bets.
it was fun to put $0.50 on a game I normally wouldn't watch and tune in with a real rooting interest. i never bet more that $1 on a game because I knew that I would really dislike losing 'real money'.
the fact was that the stakes were completely irrelevant to me. the value came from definitively and publicly taking a side. if you're the fan of a team, you do this in every game. but with these little bets it's a way to sign-on for a little slice of being a fan in every game.
and that got me thinking that there's potentially a different type of gambling app that ignores the money and is more of a social/prediction-making platform. people love chasing worthless internet points (reddit upvotes, HN karma, etc), so why not build a platform that gives you points for betting?
you could let a chunk of the population scratch the itch they get to gamble without creating financial risk. they can still brag about their wins.
sports gambling has been going for several years in UK and several other countries. i dont remember anyone getting murdered over a lost bet.
This would just push everyone to unlicensed casinos/bookmakers . Means no tax revenue + even worse player protection.
>gambling sites
I think I’d probably go farther. Next time you’re in a corner store or gas station, pay attention to who is wasting their money on scratchers or other lotto tickets.
You shouldn’t be allowed to gamble unless you can prove it’s disposable income.
The regulation has gone the opposite direction, recently.
It was regulated.
Most of their practice are illegal already. The problem is lack of enforcement.
We are not suing polymarket. We are not suing the marketing company. And we don't want online censorship.
IMO, the marketing company / media company should be sued. -- They are (relatively) easier target to sue. Many are US based and not going anywhere. With enough luck, this might give us a better internet with less SEO bullshit.
That will make things worse unless you reign in crypto. If you regulate Kalshi, people will use the unregulated polymarket which is already illegal in the united states.
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Just another hearty dividend thanks to corporate personhood and Citizen's United. Rarely has a single decision so thoroughly broken our system, but the regulatory capture is plain to see these days.
We should just make gambling illegal online again, things were fine back when you couldn’t gamble online then, at least in the USA, the fucking supreme corpo guzzlers (formerly the Supreme Court) interpreted the laws according to their owners will and now we have gambling online.