$700 per person on sports gambling

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Dec 29, 2024
10:21:18am

Deleted True Conservative

$700 per person on sports gambling

People in the USA wasted $245 BILLION ($245,000,000,000) on sports gambling from when it was legalized in 2018 until 2023. Almost everyone lost.

That's over $700 PER PERSON.

An entire generation is getting addicted to gambling, while a small handful of oligarchs get even richer pic.twitter.com/jwk7KDUhSf
— Ben Norton (@BenjaminNorton) December 29, 2024

https://twitter.com/BenjaminNorton/status/1873341097512251392

This message has been modified

Originally posted on Dec 29, 2024 at 10:21:18am

Message modified by Deleted on Dec 29, 2024 at 10:21:52am

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Deleted

Previous username: Xamius
Bio page: Deleted
Joined: Nov 29, 2004
Last login: Jan 4, 2025
Total posts: 121,710 (34,561 FO)

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Messages

Author

Time

$700 per person on sports gambling

Deleted True Conservative

12/29/24 10:21am

I disagree with the tweet. Investing is not “waste”

TCuz

12/29/24 10:22am

User note: Part of the 6%

benny1982

12/29/24 10:25am

You think gambling = buying stock, huh?

Avery

12/29/24 11:09am

Almost everyone lost? Isn't it almost exactly half and half? I guess it's half

paulb

12/29/24 10:26am

No. Lots of bets aren’t near 50/50 odds. Even the ones that in theory are, like O/U and games against the spread

TCuz

12/29/24 10:29am

I'm not talking about 50-50 odds. I'm talking about the money ends up half

paulb

12/29/24 10:31am

Money doesn’t end up half on both sides.

TCuz

12/29/24 10:33am

K. I thought that was the betting company's goal. Then just take their slice.

paulb

12/29/24 10:34am

That's the goal but it's never perfect and usually is 55/45 or 60/40. Sometimes in rare cases it's 70/30.

CSoul

12/29/24 10:37am

Not really. Also think of how many bets are made on things without opposite sides like parleys.

TCuz

12/29/24 10:45am

Each leg though has an opposite bet. Sounds like I'm wrong though.

paulb

12/29/24 10:46am

Not on a parley.

TCuz

12/29/24 10:48am

In addition on average sports books take ~5% off the top of each bet (vig)

CSoul

12/29/24 10:31am

No

JuicyJam

12/29/24 10:38am

The bookies win most of the time.

John Doe

12/29/24 10:44am

The book always gets a little.

RC Vikings

12/29/24 11:05am

And here I am not doing my fair share, not pulling my weight

12/29/24 10:28am

I've said this multiple times, it's the biggest new drug for 20-30 year old males.

CSoul

12/29/24 10:32am

Thats enough to give 700 people a thousand dollars

Beggar

12/29/24 10:32am

Yeah, I hate it. Seems like every podcast and show advertises for it too these days. Its a scourge on society.

NonmormonYfan89

12/29/24 10:33am

There is a reason it was illegal before.

MarylandFan

12/29/24 10:42am

My friend has up 20k since August. Other friend about the same. No idea how

Stucoug83

12/29/24 10:46am

That's what they tell you...and then they lose their home

WhirleyPop

12/29/24 11:04am

Well, they will come back down, but that is what they won.

Stucoug83

12/29/24 11:32am

Its not impossible to be “good” at sports betting. Its just that the vast majority of people who engage in it

NonmormonYfan89

12/29/24 11:48am

Agreed. I was shocked when he told me how he was doing. He spends time on

Stucoug83

12/29/24 12:41pm

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