Samuel L Jackson has some weird commercials in Europe.
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Kinda, yea. When used responsibly they provide entertainment, like many other things, but on the whole theyâre clearly bad for society. I donât think Iâd be for banning all gambling but Iâm open to any ideas that make them less of a money funnel from poor to rich.
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I just got an email from Bob Eubanks.
I guess I still have a bit of a libertarian streak. I can see why it may be bad for society in aggregate, but I think if it is something people want to do, then they should be able to do it.
I suppose you could do something like the whole âaccredited investorâ thing. To play you need to be an âaccredited gamblerâ. However, even thatâs problematic, imo.
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Yeah, instead of a normal tax system we instead tax the poor with a lottery.
They sell you on this by funding schools so rich people donât have to pay for it.
Good job GA, sincerely riverman
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To me it seems clear that lotteries are -EV for society but outlawing them is massively more -EV. Some sort of legalized, heavily-regulated lottery system is probably close to the best system you can design.
On a related tip, this weekâs On the Media podcast had a good segment about sports books and sports broadcasting.
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Does this include the stock market?
No, and it doesnât fully cover poker or bets/pools between individuals, but I think there should be a strong presumption against any type of for-profit gambling operation.
Gambling immisurates people and hurts others in the orbit of the gambler, including family and more legitimate creditors.
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Now do cigarettes
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Ridiculous amounts of money sloshing around a political system linked to gambling is also a net negative on society.
I agree except i want the slots degens playing poker against me. Decentralize the capital flows from a handful of soulless corporarions into the hands of scrappy young gentlemen, playing a gentlemanâs game
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Well, the money is going to a good cause.
Wonder if there good data on the money spent per capita on gambling in a state (including illegal) over time as successively more legal options open up with legal lottery/new casinos/online/etc.
Feels like there definitely a subset of people who would gamble at all costs and other subsets who never would consider betting through a bookie.
For sure, the people with legitimate gambling addictions will be potential customers for mob-run numbers games.
But I curious to see how that plays out on the large scale of an entire state. My inclination is easier access dramatically increases total spend overall but there gotta be some sort of ceiling
Remember, itâs for the schools.
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Have you not reason then to bee ashamed, and to forbeare this filthie noveltie, so basely grounded, so foolishly received and so grossely mistaken in the right use thereof? In your abuse thereof sinning against God, harming your selves both in persons and goods, and raking also thereby the markes and notes of vanitie upon you: by the custome thereof making your selves to be wondered at by all forraine civil Nations, and by all strangers that come among you, to be scorned and contemned. A custome lothsome to the eye, hatefull to the Nose, harmefull to the braine, dangerous to the Lungs, and in the blacke stinking fume thereof, neerest resembling the horrible Stigian smoke of the pit that is bottomelesse.
A Counterblaste to Tobacco - Wikipedia.
King James I 1604
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Can we assume that you share this position?
I guess one could argue that those people are approximately equally fucked whether they gambling is legal or not. Maybe there is some data to show otherwise. I have no idea.