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Bone-chilling story about how sports betting can destroy your life. So thankful I don't have this gene.

https://twitter.com/TheAthletic/status/1...7266622893
https://archive.ph/e4fUI

Couple snippets: 

...On Nov. 29, nine days after attending the Chiefs-Chargers game, Holt took out a $3,500 loan from United Services Automobile Association, a banking and insurance firm for military and veterans. He needed it to pay their mortgage. On Dec. 8, he took out a $5,000 loan from USAA to pay off the first loan and to have extra money for gambling.

“My only thought was, ‘I’m a shoo-in,'” he said. “This $5,000, I’ll do it differently this time. I know what to do, and I will discipline myself.”

He told himself that he would research statistics more deeply before betting on a game and that he would stop after winning $100 in a day.

Thirteen days after his second loan, he took out a third, this time for $8,000....

...So when Holt said he was going to skip breakfast and the day’s activities so he could watch football, she wasn’t surprised. Little did she know, Holt wasn’t skipping out to watch a game. He was staying in the cabin trying to replenish their bank account. He searched for lending companies online. The mortgage was due in five days.

He went back to USAA. It was five days after his latest loan. This time, he took out $11,000 — paying off the $8,000 and getting an additional $3,000 to gamble....

...His annual activity statement from FanDuel for 2023 is a sobering snapshot of what being a sports fan can look like in this fledgling era of app-based betting: $878,529.56 wagered. $7,839 provided by FanDuel in enticements. Exactly 4,059 bets were placed — an average of more than 11 a day — and $63,000 was lost.

In the 15 months since he made his first bet, he had lost more than $110,000 — nearly all of his annual income of $120,000....

Sports betting has always been a problem for some, but now with the ease of betting with Apps on your phone, its gone into the stratosphere with people ruining their lives....especially people under 35 years old. Can't think of a more disgusting and pitiful way to lose your or your family's hard earned income then gambling it away. An older work friend of my wife's has a younger brother that leached over $400,000 from their parents secretly gambling over the course of 2 years and he's now cut out of all their lives and its affected their retirement. Sad. But its their choice. Honestly, don't talk to me about betting addictions, I just don't have the patience to hear it, JMO. Regardless, its devastating obviously and ruins lives and families. Yes, I know all about Art Schlichter.

(12-06-2024, 09:19 AM)StickierBuns Wrote: [ -> ]Sports betting has always been a problem for some, but now with the ease of betting with Apps on your phone, its gone into the stratosphere with people ruining their lives....especially people under 35 years old. Can't think of a more disgusting and pitiful way to lose your or your family's hard earned income then gambling it away. An older work friend of my wife's has a younger brother that leached over $400,000 from their parents secretly gambling over the course of 2 years and he's now cut out of all their lives and its affected their retirement. Sad. But its their choice. Honestly, don't talk to me about betting addictions, I just don't have the patience to hear it, JMO. Regardless, its devastating obviously and ruins lives and families. Yes, I know all about Art Schlichter.

I thought it was interesting that they design the betting apps like slot machines. 

Researchers say this is a familiar playbook, one that mirrors the psychological approach used by slot-machine designers to create continuous play. Slots use certain colors and sounds to keep players engrossed. The sports-wagering apps use in-game betting, parlays and “free” bonuses.

“They have learned the psychology of slot machines,” said Dr. Michelle Malkin, an associate professor at East Carolina University who has studied online sports betting. “The same kind of people who may get lost in a slot machine will get lost in those same kind of apps.”

(12-06-2024, 09:36 AM)MaroonBells Wrote: [ -> ]I thought it was interesting that they design the betting apps like slot machines. 

Researchers say this is a familiar playbook, one that mirrors the psychological approach used by slot-machine designers to create continuous play. Slots use certain colors and sounds to keep players engrossed. The sports-wagering apps use in-game betting, parlays and “free” bonuses.

“They have learned the psychology of slot machines,” said Dr. Michelle Malkin, an associate professor at East Carolina University who has studied online sports betting. “The same kind of people who may get lost in a slot machine will get lost in those same kind of apps.”

There's always psychology used for anything related to consumers and consuming. Behavior is a science. These tactics will be more effective on some people more than others. 'Buy Now!: The Shopping Conspiracy' on Netflix gets into how corporations do this. Shopping addictions, betting addictions.....I just don't believe in it as an addiction. Plenty of people do and that's fine and I know all the 'rationale' for it. Again, its my opinion. To not be able to stop and blame the compulsion on an addiction doesn't hold water with me. But nonetheless, its a tragic situation.

My wife worked for one of the early big shots in developing video screen slot machines (if that’s what you call them). She trained their horses.

They went out to a fancy dinner at a casino he was working for. Her “job” that night was to lose $1000 on the machines and keep track of what she did and didn’t like about the machines. Which drew her eyes. That sort of thing.

We’re generally not gamblers. Although we’ll put “shinny quarter” bets on just about anything. If you want to call that gambling. Lifetime I’m probably up $5 in quarters and negative a $100ish on powerball when the payout gets nuts.

I cringe every time I see a fan duel commercial.

The gambling industry might just be powerful and big enough to avoid future regulation.

Addiction can absolutely ruin lives.

(12-06-2024, 10:51 AM)purplefaithful Wrote: [ -> ]I cringe every time I see a fan duel commercial.

The gambling industry might just be powerful and big enough to avoid future regulation.

Addiction can absolutely ruin lives.

Here's Draftkings leadership page if anyone needs a picture:  https://www.draftkings.com/who-we-are-about

Its a massive revenue stream. It won't be touched, even by the disaster crazy left that wants to control every aspect of everyone's lives.

There is too much money in it and the States are seeing massive revenue from it. It is unfortunate because it's so easy and people get too caught up in it.

However, you can make a living from it if you are smart and can control how you are gambling the money. I use Excel spread sheets and such and only gamble what I can lose. I typically gamble about $1,000 a week or so, mainly college football, and just do moneylines. Pick teams usually that should win. Most of the time a $100, on that specific game, might net me only $60-70. So, my payout would be $170. I don't get crazy or greedy with it. On average per season per week, I typically make $1,600 to $1,700 a week. Which means I make around $700 a week doing so. Nice past time extra money hobby thing to do.

(12-06-2024, 09:46 AM)StickierBuns Wrote: [ -> ]There's always psychology used for anything related to consumers and consuming. Behavior is a science. These tactics will be more effective on some people more than others. 'Buy Now!: The Shopping Conspiracy' on Netflix gets into how corporations do this. Shopping addictions, betting addictions.....I just don't believe in it as an addiction. Plenty of people do and that's fine and I know all the 'rationale' for it. Again, its my opinion. To not be able to stop and blame the compulsion on an addiction doesn't hold water with me. But nonetheless, its a tragic situation.

I'll have to add this to my list....as someone who worked in Big Food for decades, it might resonate with me.

(12-06-2024, 11:21 AM)purplefaithful Wrote: [ -> ]I'll have to add this to my list....as someone who worked in Big Food for decades, it might resonate with me.

It will for sure.