news

23638 readers

953 users here now

Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.

Rules:

-- PLEASE KEEP POST TITLES INFORMATIVE --

-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --

-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --

-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today/ . Twitter screenshots still need to be sourced or they will be removed --

-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--

-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--

-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --

-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --

founded 4 years ago

MODERATORS

[email protected]

175

Legalizing Sports Gambling Was a Huge Mistake (www.theatlantic.com)

submitted 2 months ago by [email protected] to c/[email protected]

240 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 14 points 2 months ago* (last edited 2 months ago) (1 children)

It's also ruining sports, the advertising is everywhere and extremely tacky, while contributing to the financial ruin of the poorest in society. If I see another HollywoodBets advert I will redacted-1 redacted-2

Specifically, for every $1 spent on betting, households put $2 less into investment accounts. States see big increases in the risk of overdrafting a bank account or maxing out a credit card. These effects are strongest among already precarious households.

Fake society with fake finance. This is terrible.

Looking specifically at online sports gambling, they find that legalization increases the risk that a household goes bankrupt by 25 to 30 percent, and increases debt delinquency. These problems seem to concentrate among young men living in low-income counties—further evidence that those most hurt by sports gambling are the least well-off.

Yeah definitely. I see it all the time with soccer/football.

Matsuzawa and Arnesen extend this, finding that in states where sports betting is legal, the effect is even bigger. They estimate that legal sports betting leads to a roughly 9 percent increase in intimate-partner violence.

...

Legalization isn’t yielding many benefits, either. Tax revenue—one of the major justifications for legalization—has been anemic, with all 38 legal states combined making only about $500 million from it a quarter, less than alcohol, tobacco, or marijuana

Of course, these gambling operations are great at avoiding taxes, setting up their operation to be off shore on official paperwork, in office buildings that don't exist.

[–] [email protected] 8 points 2 months ago

But some fairweather leftists that by their own admission despise most people enjoy the corporate sports gambling treats so fuck you, they got theirs. smuglord