Many years ago, when I was about 14, my maths teacher had us calculating average winnings for various forms of gambling. Towards the end of the exercise, she suggested that we inspect (from the outside!) the premises of any we could see. And investigate/estimate the cost of running such establishments. Figure out staff salaries, look at the owners' cars. Remember that they paid taxes on their profits. Check what profits they were declaring. Then consider where the money to pay for it all came from. Somehow, I've never been tempted to bet......! Such a good teacher - this was "exercises", not actual curriculum.
I had a similar experience with a high school math teacher who opened a unit on probability by saying: “Lotteries are a tax on the stupid, and here is why…”. She then showed the odds of winning (or honestly, not winning) for various forms of gambling. All I can say is thank you Mrs. Beacon, you made a huge difference in my life.
@@babydadoo What did Mrs. Bacon say about Sports Betting then? Did she tell you that with Sports Betting the probability is NOT known? ie Although bookmakers work to an "over-round" the chance of any individual horse / team etc can only be opinion, NOT fact. Therefore - with Sports Betting - it is possible for the gambler to make a profit if he is better at evaluating form into chance than the betting market. Did Mrs. Bacon explain what's called "The Mathematics Of Betting" and the "Table Of Odds And Chances"? I genuinely make money gambling on the horses in the UK. By studying form, working out what I believe is the percentage chance of each horse (to a 100% book), converting those percentages into odds, adding a margin for error... And then backing any horse I can get better odds than my Prices To Beat.
Encourage them to bet more, then offer to buy up anything nice they have at a huge discount when they go broke. Actually, don't bother. They probably don't have anything worth buying because sports betting is trashy as fuck.
I actually watched a Poker slots player win $1,500 in one night. He even explained how he did it. The method did not work when I tried it. I actually tried to put my above average mathematics to work in lottery a few times. I got 3-4 numbers on my best attempt buying one ticket per day for a week.
@@exaucemayunga22 No, there are methods of greatly improving odds. There was a famous lottery mathematics group who were banned from the Lottery. Because, they won so much. I have listened to detailed explanations of the perfect Video Poker strategy. Once you start talking about subjects above a certain intelligence level. The solutions do not sound logical.
It seems like many people are skeptical about sports betting, and rightfully so. The odds are usually stacked against bettors, as one commenter pointed out, with sportsbooks having all the operational costs covered by the money people lose. However, I recently stumbled upon a video on Kevin Lorsen's channel where they shared some interesting tips. It’s about finding rare, 100% sure betting picks that could actually turn a profit. I thought it was worth mentioning,
No such thing as "100% sure betting picks" in sports betting, Johny. Betting at long odds-on does mean a punter can expect very long winning runs. But when the inevitable loss does happen it ruins the profit. In Britain there was a two horse race where the favourite was 1/25. So for every £25 staked £26 would be returned for a profit of £1 if it won for their £25 investment. But it lost. At level stakes a gambler needs to win 97 out of 100 bets at 1/25 in order to show a profit. So with a margin for error, a gambler must BELIEVE a 1/25 shot has a 99% chance of winning for it to be a good bet. Whereas a gambler only needs to win 4% of his / her bets at 25/1. So with a margin for error, a gambler must BELIEVE a 25/1 only has a 6% chance for it to be a good bet ie Good betting opportunities have nothing to do with whether it has an exceptionally good or poor chance of winning. It is instead about what is value to win. That can be one at a very short price or big price or anything in between. Gamblers need to know their chosen sport exceptionally well... But even for those that do know their sport; only gamblers good at converting form into chance will make an overall profit.
What really disgusts me is that there are multiple Universities (Michigan State, LSU, etc) that have signed deals (big money) with these betting companies to allow them to market directly to their students.
Eh. It's just a tax on being stupid and trashy. If anything we need more taxes on being stupid and trashy. Like, anyone who has ever owned Truck Nutz, used a Playboy bunny tanning sticker, or gotten a "tribal" or tramp stamp tattoo should have to pay double taxes for the rest of their life.
I voted against legalizing sports betting in California and I'm so glad it didn't pass. The destabilizing effect it has on families is not worth the tax revenue.
My gambling addiction isn't your problem. You shouldn't be prohibited from engaging in a voluntary activity just because I can't handle it. Freedom means the freedom to make mistakes.
Your gambling addiction is our problem because the odds are you or your family will end up on the dole at tax payers expense. It's like the argument broke 'freedom' riders make that they shouldn't be forced to wear helmets then end up on permanent disability at everyone's expense.
@@UserNameAnonymous not everyone shares your ultra libertarian hyper individualistic values. Some of us think we have a moral obligation to not let predatory apps and scammers take advantage of people. Personal freedom isn't the only social good there is.
Overheard a worker at Target say he lost $400 on a game while I was getting my groceries the other day. No shame to him, but I'm scared this is gonna ruin people
Gambling does ruin people and their families. The vast majority of people can bet occasionally and then walk away without issue but there are a few people who have an addictive personality who will continue to chase their losses until they are so deeply in debt they have lost everything and can't see a way out. Some people won't come out of that depressive cycle alive, especially if it has cost them important relationships like a marriage.
I personally don't bet or watch sports in any way but I've noticed a marked uptick in advertisements for sports gambling ads on all platforms. I wish there was a way to tell the advertiser they're barking up the wrong tree!
No let them think you are interested so they waste more money advertising to the wrong person. And neglect to give you ads that might hit your weak spot!
As someone who does watch sports, its completely ruined the broadcasts for me. All analysis by "experts" now revolves around the odds of certain scores/events happening, not why a team or player is doing well or poorly
Betting has kinda ruined family time. People always talking about their bets and if they're following the game. They're not even watching the game, they're just following to see if they win
People fail to make the (small) mental leap that the enormous profitability of gambling organisations is entirely financed by net player losses. And the odds are set explicitly so that players, as a group, WILL make a net loss. Every time you see a $100k ad on television for sports gambling, that was financed by $100k in player losses. It is POSSIBLE to make money betting on sports, it just requires either enormous expertise or enormous luck - and it's usually the latter
Gambling is simply non-violent theft, the odds are stacked against the player who will lose everything given a long enough timeline. This country is ruled by profit, not compassion and justice.
Prohibition didn't work with alcohol. It won't work with gambling either. Beside;, the thing anti-gambling people don't want you to know is that some of us make money. My problem with gambling is getting on. Bookmakers closing my accounts because they don't want to lose money
The fact that betting is considered "alternative investment" is ridiculous to me. Don't get me wrong I love to play poker in my free time, but everyone needs to clearly understand that neither poker, gambling or betting are ways to make money - they're just hobby and one should expect to lose money on it. For example you're not expecting to make a profit out of bouldering or playing tennis, you pay to spend some good time (same goes for video games, tabletops, dancing, cosplay you name it!).
There are two worst case scenarios for w this. Macau exists only to facilitate gambling and money laundering, and Australia’s economy is hampered by gambling addiction and criminals infiltrating casinos.
I went to a casino ONE TIME and lost $5 or $10 in quarters in on slots immediatly. The experience lasted about 10 minutes. I thought "This is stupid." Turned around and left. I never went into a casino again. A friend who worked at a casino told me the worst thing that could've happened is if I won a jackpot. The bigger the jackpot the worse. I'd keep going back, sinking more and more money trying to replicate that ezperience. After thay I'd start chasing all my inevitable loses by gambling more. And then more. That $5 on slots may have been the best $5 I've ever spent/lost.
This this this. In investing you know that value is being generated through manufactured goods and the sale of services. Guessing at individual stock picking is a bad idea but owning the market will serve you well over the long term
What makes it even crazier now as opposed to had it been legalized in like 1990, is that you would've had to physically gone somewhere in that time to place a bet. Now you can just pull your phone out of your pocket and lose all the money you want. I don't have a huge problem with it being legal because so many people already illegally bet on sports prior, but the insane amount of advertising and celebrity endorsements makes me sick. It should be disallowed to be advertised on television or the Internet. We're telling kids they will win money. They won't. There are very very few people who win sports betting and those few people have to do crazy stuff just to get someone to take their action because they are "advantage players", meaning - they actually win money over time.
8:13 I disagree with "nothing wrong with placing your first bet" "as long as you approach it as a diversion". Yeah, but what if YOU turn out to be one of those that get addicted?! Treat it as you'd treat your first cigarette/shot of heroin: stay away, don't touch it because if YOU do get addicted, well, it's very difficult to get un-addicted. Unlike cigarettes or heroin (which you CAN live without) you CANNOT live without your smartphone so your dormant addiction is only a few clicks away. Moral of the story: if you never try (not even once) you can't get addicted and you will happily live ever after ;)
I always love it how people can delude themselves into thinking that they are the ones that have the magic formula and have figured this out. There used to be enough of a real world barrier to getting access to accurate statistics back before the 2000s that it theoretically would’ve been possible to make good money off of sports betting… But now that you can go to yahoo sports and pull all of the statistics you could ever want for free, it is just never going to happen no matter how savvy you think you are. Unless you are a contender for the Nobel prize in statistics, you are throwing your money away
@@3of11Yes but no. At least with the market there is value being generated by goods and services so the market as a whole goes up on average. Sports betting will just rob you blind as fast as you put money in
You mean... I am in contention for winning a Nobel Prize. Nah, it's just a matter of simple mathematics / percentages and form study. Being better at evaluating form into chance than the betting market.
NGL I was thinking about getting into gambling because I've always been bored by pro sports and wanted to have more in common with folks and I just can't understand why people watch other than gambling, problem is I also don't like gambling. Thanks for reminding me I'm fine just the way I am.
Not only U.S is in trouble due to sports betting. Brazil is suffering a lot too because of it - here brazilians spent 6x more in sports betting than investing in financial products in the brazilian stock exchange (B3).
The opening figures seem mis-leading. There was probably more than 400 million dollars in sports betting in 2018, but it wasn't accounted for because it wasn't legal.
Here is the thing with betting, in general unless you are making the rules you lose because the rules are designed to choose the winner which usually is the one making them. I had the idea at one point of shorting the lottery.
I love that advice in the end. Instead of gambling, why not profit from gambling by buying gambling stocks. A certain Filipino gambling stock made me loads of cash lmao
Great insights! It's essential to weigh the risks vs. rewards when it comes to sports betting. Understanding the industry and its impact on personal finances is crucial for any bettor. Thanks for bringing attention to this important conversation!
The worst thing is people don't realize the tax consequences behind it. Wins increase your AGI which may disqualify you from certain tax benefits amd losses can only be deducted up to the extent of winnings if you itemize. So if for example you are single, had 5k in winnings and 10k in losses, you have to pay taxes on that 5k even though you had a net loss because you probably aren't going to itemize.
I really hate there is so much betting adverts in sports now, it's just crazy. And if you're going to bet just bet that money on commodities stock or something like that.
Also, I’m glad they included that bit about SCOTUS. This is EXACTLY the kinds of laws that are being tossed out left and right, after Chevron and other precedents were struck down. People preach ‘states’ rights because they love the idea of voting on a hot issue, but the reality is you’re just allowing the top 25/50 companies in your state to push forward little laws that benefit them, exactly like this one.
So happy i've never gotten into sports betting. I've seen so many of my friends legit loose themselves on the stress on sports betting. Even if they're net positive life time.
You can. I made about $300 on the promo offers over the course of a season. But then I had to stop, it was obvious that if I didn't cash out right away, I'd just end up paying it all back eventually.
Believe it or not, that's part of their business strategy. They know that if someone can "game" the system, they're highly likely to tell their friends/ try to get them to have the same success. People in general like to talk about their acomplishments right? The profit one person makes is nothing compared to the potential of getting 4-5 new customers who many not have your self control.
Game lines that used to pay -130 now pay -300. Vegas tightened the screws long ago. You've got to win 2-3 games to cover even one loss. That took the fun out of it for me.
As an employ of an online betting company: - You will mathematically lose money in the long run although there can be times where you have earned more than you lost - Casino games truly are random (with the odds being slightly against you) - You have a gambling problem if any of the following apply: a) you believe you can make money, b) your bet amount is one that would make you upset if it accidentally falls down the drain, c) you are betting on games that you dont watch or care about, d) you spend time on casino slots outside of poop time, e) you feel that this 2, 7 that you hold will win this round - Betting scandals are the only way for betting companies to lose money (though most of the time your winnings will just not be awarded) Personal opinion as a gambler who plays once a month: - Betting on sports that you watch elevates the experience and makes otherwise unwatchable matches to offer some thrill - It is like any harmful habit, alcohol, smoking, drugs. If you can't control it, don't do it. - Casino slots should be banned
They are out there, but it’s a grind. It’s also increasingly difficult because anyone who is a long term winner is more and more getting shadow banned by the online books. Winners also don’t have to tell people they win
It would be awesome if you did something similar, but with option strategies. They look very similar to betting in sports to me, but I don’t know the odds
In theory you can, it’s very difficult and it’d be based on math, and historical averages… not your favorite team or “vibes”. You can also make money playing poker, and even blackjack, but again, very hard and math based.
“Which team will win the jump ball” is an entirely fictional prop that only exists in the movie Uncut Gems and is not in fact something you can ever bet on.
Yes you can but you need to find your market and make smart bets using parlays when it’s an edge and with this you need to have numerous outs as retail books will limit you once you win so you’ll have to goto offshore soon enough
i place bets on sports almost everyday, mostly on hockey, baseball or football but i bet really small, only $1 or $2 per bet so its not a problem. win some, lose some ... not a big deal ... you avoid a lot of problems when you do that. it just makes the games more interesting. ;)
I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
I suggest miss Nancy William's Laplace is extremely good on that.. She is really good on what she does, now I can pay so many bills because of her help.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Starting with just 55k two months ago and reaching 290k today feels incredible. Sophie Rogerz, your guidance and insights have been instrumental in this journey, and I’m deeply thankful for your support and knowledge.”
Diving into the digital market is definitely advisable, but it requires expert guidance,someone like Sophie Rogerz. and She is a popular licensed broker and fund manager. Her guidance and high level of expertise in digital markets has been a game changer for me andyou can’t go wrong.
Sophie Rogerz? I was introduced to her by a friend. My husband and I have been working with her for months, and it was through her profits that we were able to grow in the real estate market.
I'm 10 seconds in and it would seem, to anyone paying attention, you've already answered the question! okay just finished. Great video! The gambling industry is just another illustration of how pathetic humanity can be.
The big issue is that if you’re kinda broke, investing a few hundred dollars a year in VOO, VTI, or VT is likely to not be a lot of money. Hence, why lower income people do it. If I were to bet, it’d be like 10-20 dollars once in a while, because it would be just for fun.
I agree on the freedom to gamble, smoke, and drink, but would agree Ads should be restricted. It’s waste of money anyways just send that extra money to my dividends on my stocks.
Real talk: Telling gamblers to instead focus their gambling itch on the stock market is really bad advice. I’ve been a casual sports gambler for 20 years (long before DraftKings). I scratch my itch there instead of gravitating to options trading and higher risk stuff in the stock market. Keeping it separated is very important. This isn’t the helpful advice you think it is. Following this advice might put folks’ retirement accounts at risk. Please be careful.
As a majority winner this year thanks to the chicago white sox after ive seen how bad they were in the beginning of the year, i basically robbed the sport apps and have now retired from sports gambling (even though they are projected to lose the same next year) This was first foray in to sports gambling or any type of gambling so i think i beat the house 🎆
Ever seen the excitement on a gambler's face in the Grandstand as his horse wins?... As he shouts "go on my son" !... And joyfully celebrates. Looking at how your shares are doing on the internet screen just doesn't have the same appeal / effect. For many sports betting is like sex. You pick your girlfriend (team / horse), put the condom on (strike the bet), and then in the game sometimes it can be an anti-climax, but can also be orgasmic! Stocks? Nah not for me.
The court case was ruled correctly, but now that the responsibility is on our local governments to deny millions of dollars of revenue we're seeing them capitulate to greed. It's our job as voters to fix this problem.
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
Many years ago, when I was about 14, my maths teacher had us calculating average winnings for various forms of gambling. Towards the end of the exercise, she suggested that we inspect (from the outside!) the premises of any we could see. And investigate/estimate the cost of running such establishments. Figure out staff salaries, look at the owners' cars. Remember that they paid taxes on their profits. Check what profits they were declaring. Then consider where the money to pay for it all came from. Somehow, I've never been tempted to bet......! Such a good teacher - this was "exercises", not actual curriculum.
Now that is a true teacher. Teaching life lessons, not just whats on the syllabus.
This is the kinda teacher that all the other lefty teachers hate, sadly
My teacher back in high school taught us the odds of winning a lottery using permutation
I've looked at it as an idiot's game ever since
I had a similar experience with a high school math teacher who opened a unit on probability by saying: “Lotteries are a tax on the stupid, and here is why…”. She then showed the odds of winning (or honestly, not winning) for various forms of gambling.
All I can say is thank you Mrs. Beacon, you made a huge difference in my life.
@@babydadoo What did Mrs. Bacon say about Sports Betting then? Did she tell you that with Sports Betting the probability is NOT known? ie Although bookmakers work to an "over-round" the chance of any individual horse / team etc can only be opinion, NOT fact. Therefore - with Sports Betting - it is possible for the gambler to make a profit if he is better at evaluating form into chance than the betting market. Did Mrs. Bacon explain what's called "The Mathematics Of Betting" and the "Table Of Odds And Chances"?
I genuinely make money gambling on the horses in the UK. By studying form, working out what I believe is the percentage chance of each horse (to a 100% book), converting those percentages into odds, adding a margin for error... And then backing any horse I can get better odds than my Prices To Beat.
First time CA and TX have agreed on anything
Yes keep that toxic crap out!!
They agreed on a lot of things actually.
@@TheBoxingNinja Like what?
@@EseJandro Yeah I don't really have an answer.
That’s how the western forces started in Civil War. Agreement in sports betting lol
I would love them to be illegal to advertise on tv like smoking.
That's crazy talk
This. x10 not just gambling but drugs as well.
@goodlight4113 than you should ban alcohol and liquor first because it kills people
everything about gambling should be treated like smoking. both get people addicted and can ruin lives
@@SidV101 drinking liquor and alcohol should be banned in if you say that
“How much did you lose?”
“Today or lifetime?”
that hurt 🥺
If you’re gonna be stupid then you better be tough
I’ve overheard co-workers losing $200-$300 a night just betting. That’s just insanity.
Encourage them to bet more, then offer to buy up anything nice they have at a huge discount when they go broke.
Actually, don't bother. They probably don't have anything worth buying because sports betting is trashy as fuck.
Ah, they'll get it back if they keep playing! Just wait and see!😂
I actually watched a Poker slots player win $1,500 in one night. He even explained how he did it. The method did not work when I tried it. I actually tried to put my above average mathematics to work in lottery a few times. I got 3-4 numbers on my best attempt buying one ticket per day for a week.
@@lanceknightmareno one has any "method" of winning when it comes to that. It's just luck
@@exaucemayunga22 No, there are methods of greatly improving odds. There was a famous lottery mathematics group who were banned from the Lottery. Because, they won so much. I have listened to detailed explanations of the perfect Video Poker strategy. Once you start talking about subjects above a certain intelligence level. The solutions do not sound logical.
It seems like many people are skeptical about sports betting, and rightfully so. The odds are usually stacked against bettors, as one commenter pointed out, with sportsbooks having all the operational costs covered by the money people lose. However, I recently stumbled upon a video on Kevin Lorsen's channel where they shared some interesting tips. It’s about finding rare, 100% sure betting picks that could actually turn a profit. I thought it was worth mentioning,
No such thing as "100% sure betting picks" in sports betting, Johny. Betting at long odds-on does mean a punter can expect very long winning runs. But when the inevitable loss does happen it ruins the profit. In Britain there was a two horse race where the favourite was 1/25. So for every £25 staked £26 would be returned for a profit of £1 if it won for their £25 investment. But it lost. At level stakes a gambler needs to win 97 out of 100 bets at 1/25 in order to show a profit. So with a margin for error, a gambler must BELIEVE a 1/25 shot has a 99% chance of winning for it to be a good bet. Whereas a gambler only needs to win 4% of his / her bets at 25/1. So with a margin for error, a gambler must BELIEVE a 25/1 only has a 6% chance for it to be a good bet
ie Good betting opportunities have nothing to do with whether it has an exceptionally good or poor chance of winning. It is instead about what is value to win. That can be one at a very short price or big price or anything in between. Gamblers need to know their chosen sport exceptionally well... But even for those that do know their sport; only gamblers good at converting form into chance will make an overall profit.
I tested those picks and won 4 out of 4...Are these games rigged?
What really disgusts me is that there are multiple Universities (Michigan State, LSU, etc) that have signed deals (big money) with these betting companies to allow them to market directly to their students.
The marketing for these products are out of control. And I only see it getting worse before it gets better.
Eh. It's just a tax on being stupid and trashy.
If anything we need more taxes on being stupid and trashy. Like, anyone who has ever owned Truck Nutz, used a Playboy bunny tanning sticker, or gotten a "tribal" or tramp stamp tattoo should have to pay double taxes for the rest of their life.
@@Bunny-ch2ul I disagree, the USA does not have a tax problem, we got a spending problem.
Sickening
Zionist
The title should read Sports Betting Will Bankrupt you.
...and make you struggle with a new addiction both before and after you've been bankrupt.
Or if good at evaluating form into chance it could enable you to give up "work" entirely.
I voted against legalizing sports betting in California and I'm so glad it didn't pass.
The destabilizing effect it has on families is not worth the tax revenue.
My gambling addiction isn't your problem. You shouldn't be prohibited from engaging in a voluntary activity just because I can't handle it. Freedom means the freedom to make mistakes.
Your gambling addiction is our problem because the odds are you or your family will end up on the dole at tax payers expense. It's like the argument broke 'freedom' riders make that they shouldn't be forced to wear helmets then end up on permanent disability at everyone's expense.
@@AJ-jp3pb most punters dont end up on the dole u twit, besides the offshore unregulated market is huge Prohibition never works
@@AJ-jp3pb by your logic, you should be able to control every part of my life. No thanks. I don't feel like living in a totalitarian state.
@@UserNameAnonymous not everyone shares your ultra libertarian hyper individualistic values. Some of us think we have a moral obligation to not let predatory apps and scammers take advantage of people.
Personal freedom isn't the only social good there is.
The John Oliver episode on sports betting companies is seriously one of the funniest episodes out there (“game of skill!”)
as warren buffett says its an ignorance tax
Losing money can be put on your tax
@@RayBoomBoomRoom only if you track your winnings too and the losses can only offset winnings. It’s not a full deduction
@@MurderMostFowl it is fully deductible. You only need to win 1 time to do so.
@@RayBoomBoomRoom you are proving my point
@MurderMostFowl I'm not proving your point lol I'm proving mind. I do tournament on my channel and got lots of money.
Gambling addiction is awful
Overheard a worker at Target say he lost $400 on a game while I was getting my groceries the other day. No shame to him, but I'm scared this is gonna ruin people
relax its been legal in the british speaking world since time in memorial yor just a karen do gooder
@@222-i6oNo, you're just morally evil. Also a loser on a sock account.
Gambling does ruin people and their families. The vast majority of people can bet occasionally and then walk away without issue but there are a few people who have an addictive personality who will continue to chase their losses until they are so deeply in debt they have lost everything and can't see a way out. Some people won't come out of that depressive cycle alive, especially if it has cost them important relationships like a marriage.
@@ElizabethJones-pv3sj Truth.
@@222-i6oYeah and look how well the British are doing right now. You're supporting his point, not yours
I personally don't bet or watch sports in any way but I've noticed a marked uptick in advertisements for sports gambling ads on all platforms. I wish there was a way to tell the advertiser they're barking up the wrong tree!
No let them think you are interested so they waste more money advertising to the wrong person. And neglect to give you ads that might hit your weak spot!
As someone who does watch sports, its completely ruined the broadcasts for me.
All analysis by "experts" now revolves around the odds of certain scores/events happening, not why a team or player is doing well or poorly
Betting has kinda ruined family time. People always talking about their bets and if they're following the game. They're not even watching the game, they're just following to see if they win
I had a professor in school describe gambling as "a tax on those who do not understand probability."
People fail to make the (small) mental leap that the enormous profitability of gambling organisations is entirely financed by net player losses. And the odds are set explicitly so that players, as a group, WILL make a net loss.
Every time you see a $100k ad on television for sports gambling, that was financed by $100k in player losses.
It is POSSIBLE to make money betting on sports, it just requires either enormous expertise or enormous luck - and it's usually the latter
Gambling is a horrible vice because the dopamine hits are just too powerful for our monkey brains to handle. Great video
Not mine.
Standard addict response 😂@@markchapman2933
Gambling is simply non-violent theft, the odds are stacked against the player who will lose everything given a long enough timeline. This country is ruled by profit, not compassion and justice.
Prohibition didn't work with alcohol. It won't work with gambling either.
Beside;, the thing anti-gambling people don't want you to know is that some of us make money.
My problem with gambling is getting on. Bookmakers closing my accounts because they don't want to lose money
Most Americans can't afford a $1,000 emergency. The average sports gambler loses over $1,000/yr. People are bad at priorities
The fact that betting is considered "alternative investment" is ridiculous to me. Don't get me wrong I love to play poker in my free time, but everyone needs to clearly understand that neither poker, gambling or betting are ways to make money - they're just hobby and one should expect to lose money on it. For example you're not expecting to make a profit out of bouldering or playing tennis, you pay to spend some good time (same goes for video games, tabletops, dancing, cosplay you name it!).
I first read "tabletop dancing" in your list of hobbies. It gave me the impression that you pay people so you could dance on their tables for them.
It's an "alternative investment" for those that consider buying ridiculous out-of-the-money options at 0DTE an "investment" in the first place
It can be only by a few rare individuals, not 100% impossible
There are two worst case scenarios for w this. Macau exists only to facilitate gambling and money laundering, and Australia’s economy is hampered by gambling addiction and criminals infiltrating casinos.
I went to a casino ONE TIME and lost $5 or $10 in quarters in on slots immediatly.
The experience lasted about 10 minutes.
I thought "This is stupid." Turned around and left. I never went into a casino again.
A friend who worked at a casino told me the worst thing that could've happened is if I won a jackpot.
The bigger the jackpot the worse. I'd keep going back, sinking more and more money trying to replicate that ezperience.
After thay I'd start chasing all my inevitable loses by gambling more. And then more.
That $5 on slots may have been the best $5 I've ever spent/lost.
'Psychological warfare' is exactly what this is. Don't go anywhere near online gambling and take their advice; invest.
This this this. In investing you know that value is being generated through manufactured goods and the sale of services. Guessing at individual stock picking is a bad idea but owning the market will serve you well over the long term
The final line "You would have made more money investing in Draft Kings stock than betting on its platform" really drives home the message.
What makes it even crazier now as opposed to had it been legalized in like 1990, is that you would've had to physically gone somewhere in that time to place a bet. Now you can just pull your phone out of your pocket and lose all the money you want. I don't have a huge problem with it being legal because so many people already illegally bet on sports prior, but the insane amount of advertising and celebrity endorsements makes me sick. It should be disallowed to be advertised on television or the Internet. We're telling kids they will win money. They won't. There are very very few people who win sports betting and those few people have to do crazy stuff just to get someone to take their action because they are "advantage players", meaning - they actually win money over time.
8:13 I disagree with "nothing wrong with placing your first bet" "as long as you approach it as a diversion". Yeah, but what if YOU turn out to be one of those that get addicted?! Treat it as you'd treat your first cigarette/shot of heroin: stay away, don't touch it because if YOU do get addicted, well, it's very difficult to get un-addicted. Unlike cigarettes or heroin (which you CAN live without) you CANNOT live without your smartphone so your dormant addiction is only a few clicks away.
Moral of the story: if you never try (not even once) you can't get addicted and you will happily live ever after ;)
👍👍
I always love it how people can delude themselves into thinking that they are the ones that have the magic formula and have figured this out. There used to be enough of a real world barrier to getting access to accurate statistics back before the 2000s that it theoretically would’ve been possible to make good money off of sports betting… But now that you can go to yahoo sports and pull all of the statistics you could ever want for free, it is just never going to happen no matter how savvy you think you are. Unless you are a contender for the Nobel prize in statistics, you are throwing your money away
Just like people who think they can figure out the market or individual stocks
@@3of11Yes but no. At least with the market there is value being generated by goods and services so the market as a whole goes up on average. Sports betting will just rob you blind as fast as you put money in
The ordinary person has not gone through the process to be able to be the less than 1% who do it for a living.
You mean... I am in contention for winning a Nobel Prize.
Nah, it's just a matter of simple mathematics / percentages and form study. Being better at evaluating form into chance than the betting market.
Just joined the Alemio community, and I’m already impressed by how active and supportive everyone is. This project feels special.
the fact they accept credit card is ridiculous
how else are you supposed to fund your online accounts. I would never grant access to a bank account for these companies
I think at least in Massachusetts or draft kings doesn’t let you use credit cards
Most states don’t allow credit card. I’m in Louisiana and they do not
I have promised myself I will never gamble with money I’m not willing to lose. Which means I rarely gamble at all.
Me Too ! -- I came up the hard way. Worked too hard to give it away .
The only bets I'll take are ones I'm certain I'll win. So certain that no one would bet against me except as a joke
Really is sad when a fun hobby turns you into a money pinata for these greedy companies, who won't even bother cleaning up the pieces.
I became a millionaire by sports gambling. I started off with ten million dollars, now I have two million.
😂
😂
😂
I did that as well and now i have 7 million…..in my dreams😴 💭
Army -9.5
BYU +13
Oregon -10
SMU -5
Vanderbilt -5
Iowa state -10
Miami FL +14
Indiana +14
Clemson +20
Missouri -5
Notre dame +20
Tulane +14
Texas +10
Gonna hit
I bet on people betting, i win everytime
😂😂😂
You're better off trading options than doing sports betting.
For the average Joe, no. Options will destroy you . Basic sports betting you’ll stay relatively even
NGL I was thinking about getting into gambling because I've always been bored by pro sports and wanted to have more in common with folks and I just can't understand why people watch other than gambling, problem is I also don't like gambling. Thanks for reminding me I'm fine just the way I am.
Not only U.S is in trouble due to sports betting. Brazil is suffering a lot too because of it - here brazilians spent 6x more in sports betting than investing in financial products in the brazilian stock exchange (B3).
Brazil is home to millions of ignorant people addicted to making 'easy money' and losing everything in the process
Amazing video, I finally got rid of the habit of sports betting and hope to stay away forever, it cost me thousands!
Any kind of gambling can "and will eventually if kept up" send you to the poorhouse.
Interesting episode. I don't watch sports and knew nothing about sports betting.
The opening figures seem mis-leading. There was probably more than 400 million dollars in sports betting in 2018, but it wasn't accounted for because it wasn't legal.
Here is the thing with betting, in general unless you are making the rules you lose because the rules are designed to choose the winner which usually is the one making them. I had the idea at one point of shorting the lottery.
I love that advice in the end. Instead of gambling, why not profit from gambling by buying gambling stocks. A certain Filipino gambling stock made me loads of cash lmao
Great insights! It's essential to weigh the risks vs. rewards when it comes to sports betting. Understanding the industry and its impact on personal finances is crucial for any bettor. Thanks for bringing attention to this important conversation!
I’ve seen plenty of presales over the years, but Alemio stands out for its professionalism and vision. Looking forward to seeing this project grow!
The worst thing is people don't realize the tax consequences behind it. Wins increase your AGI which may disqualify you from certain tax benefits amd losses can only be deducted up to the extent of winnings if you itemize. So if for example you are single, had 5k in winnings and 10k in losses, you have to pay taxes on that 5k even though you had a net loss because you probably aren't going to itemize.
Alemio’s tokenomics are what impressed me the most. The balance between development and community incentives is spot on.
I really hate there is so much betting adverts in sports now, it's just crazy. And if you're going to bet just bet that money on commodities stock or something like that.
I think gambling should be legal but heavily regulated taxed and socially discouraged like tobacco
Oh its taxed. That's why the government is so okay with it.
@@colinrussell2017 but it should be more
As a hockey fan and a podcast personality I bleeping hate sports betting companies and commercials
And it'll never go away cuz they got so much money and power. Just like the alcohol industry.
Y'all need a podcast
Also, I’m glad they included that bit about SCOTUS.
This is EXACTLY the kinds of laws that are being tossed out left and right, after Chevron and other precedents were struck down.
People preach ‘states’ rights because they love the idea of voting on a hot issue, but the reality is you’re just allowing the top 25/50 companies in your state to push forward little laws that benefit them, exactly like this one.
Exactly
How does that boot taste? People ought to government themselves.
So happy i've never gotten into sports betting. I've seen so many of my friends legit loose themselves on the stress on sports betting. Even if they're net positive life time.
Loss aversion: The pain of losing $100 will outway the joy of winning $100
You can. I made about $300 on the promo offers over the course of a season.
But then I had to stop, it was obvious that if I didn't cash out right away, I'd just end up paying it all back eventually.
You're wiser than most then
Believe it or not, that's part of their business strategy. They know that if someone can "game" the system, they're highly likely to tell their friends/ try to get them to have the same success.
People in general like to talk about their acomplishments right?
The profit one person makes is nothing compared to the potential of getting 4-5 new customers who many not have your self control.
“How ___ betting can make you poor” lol. I read the title and did t need to see the episode - since I know the answer… because it’s betting?
Game lines that used to pay -130 now pay -300. Vegas tightened the screws long ago. You've got to win 2-3 games to cover even one loss. That took the fun out of it for me.
7:40 Free throw!
But yeah, this stuff is out of hand. The ads mid-game are offensively constant.
Just wait until we get election betting. How could that possibly go wrong?
It's already here... just not widespread
You so late
"The system is rigged."
@@colinrussell2017 how?
Plenty of sites already do this 😂
ok, let's bet on who has the longer hair: Julia or Philip ? :)
RIP Pete Rose, shout out to all the Cincinnatians out there
😂😂A draft kings mid roll ad just came up @9:12
I love youtube premium
I know a kid who just turned 18 lost over a grand betting on this. Poor kid
If he didn't lose the lesson, he'll be alright.
Hopefully he learns the lesson that goes with that loss
Shit I’m 19 I’m up 5 grand this season on NFL
@@mcchungee7197nice! yea people act like nobody wins. People do make profit from sports gambling
The house always wins, and most of the times, they're the only one's that win.
As an employ of an online betting company:
- You will mathematically lose money in the long run although there can be times where you have earned more than you lost
- Casino games truly are random (with the odds being slightly against you)
- You have a gambling problem if any of the following apply: a) you believe you can make money, b) your bet amount is one that would make you upset if it accidentally falls down the drain, c) you are betting on games that you dont watch or care about, d) you spend time on casino slots outside of poop time, e) you feel that this 2, 7 that you hold will win this round
- Betting scandals are the only way for betting companies to lose money (though most of the time your winnings will just not be awarded)
Personal opinion as a gambler who plays once a month:
- Betting on sports that you watch elevates the experience and makes otherwise unwatchable matches to offer some thrill
- It is like any harmful habit, alcohol, smoking, drugs. If you can't control it, don't do it.
- Casino slots should be banned
Great episode 👍. If sports betting was so lucrative where are the people who win?
The owners of sports betting companies are the people who win.
I've met a few people who only talk about their winnings. They never mention the losses, but I know the direction these systems trend. 〽️
@@markeastwood74For every $100 they won, they probably lost x10. Or more.
They are out there, but it’s a grind. It’s also increasingly difficult because anyone who is a long term winner is more and more getting shadow banned by the online books. Winners also don’t have to tell people they win
It would be awesome if you did something similar, but with option strategies. They look very similar to betting in sports to me, but I don’t know the odds
Oh wow, I wonder how gambling could possibly make me poor...
Great subscription to get fun, informative videos, with generally good vibes. Two Cents channel is in good hands with Julia and Philip (+ whole crew).
I don’t usually jump into presales, but Alemio’s approach to combining AI with DeFi sold me. Feels like the next big thing!
In theory you can, it’s very difficult and it’d be based on math, and historical averages… not your favorite team or “vibes”.
You can also make money playing poker, and even blackjack, but again, very hard and math based.
“Which team will win the jump ball” is an entirely fictional prop that only exists in the movie Uncut Gems and is not in fact something you can ever bet on.
You two are 💯
Just a few weeks ago, I didn’t even know Alemio existed, and now I’m all in. This presale has been a wild ride!
3:12 that's ridiculously funny 😂
Yes you can but you need to find your market and make smart bets using parlays when it’s an edge and with this you need to have numerous outs as retail books will limit you once you win so you’ll have to goto offshore soon enough
i place bets on sports almost everyday, mostly on hockey, baseball or football but i bet really small, only $1 or $2 per bet so its not a problem. win some, lose some ... not a big deal ... you avoid a lot of problems when you do that. it just makes the games more interesting. ;)
Even gaming now is basically gambling 😂😂😂
Sure, the state knows what is better for you.
Believe it or not, and hear me out on this. But the casinos taking these bets are, in fact, not in it to lose. The house always wins!
But they say they are providing a service!
If you do it right you’ll definitely make money. It’s hard to not to with all promos you get
❤ much love from Kenya,
I'm new to investing, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
I suggest miss Nancy William's Laplace is extremely good on that.. She is really good on what she does, now I can pay so many bills because of her help.
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Yes, I agree with you. Her platform is wonderful and her strategies are exceptional.
I've seen this name before and I'm now interested. Could you let me know how I can reach her?
She's mostly on Telegrams, using the user name
Starting with just 55k two months ago and reaching 290k today feels incredible. Sophie Rogerz, your guidance and insights have been instrumental in this journey, and I’m deeply thankful for your support and knowledge.”
If I may ask, how do you manage to earn so much? What are your strategies? And who is Sophie Rogerz?
Diving into the digital market is definitely advisable, but it requires expert guidance,someone like Sophie Rogerz. and She is a popular licensed broker and fund manager. Her guidance and high level of expertise in digital markets has been a game changer for me andyou can’t go wrong.
HOW!? I know it is possible. I would appreciate it if you showed me how to do it.
Sophie Rogerz? I was introduced to her by a friend. My husband and I have been working with her for months, and it was through her profits that we were able to grow in the real estate market.
I keep hearing a lot about Ms. Sophie; she must be really good.
Remember guys, 99% of all gambling quitters stopped right before they hit the jackpot! (This comment is sponsored by MGM)
Still waiting for the "How getting tattoos can make you poor" episode 😅
i live in texas and im still get gambling ads
I'm 10 seconds in and it would seem, to anyone paying attention, you've already answered the question!
okay just finished. Great video! The gambling industry is just another illustration of how pathetic humanity can be.
If you wanna make money from sports betting, only do arbitrage and taje advantage of their promos. Do not do anything else
The big issue is that if you’re kinda broke, investing a few hundred dollars a year in VOO, VTI, or VT is likely to not be a lot of money. Hence, why lower income people do it. If I were to bet, it’d be like 10-20 dollars once in a while, because it would be just for fun.
You can make money from sports betting. It's called matched betting. It involves placing bets on both outcomes of a game
I agree on the freedom to gamble, smoke, and drink, but would agree Ads should be restricted. It’s waste of money anyways just send that extra money to my dividends on my stocks.
Real talk: Telling gamblers to instead focus their gambling itch on the stock market is really bad advice.
I’ve been a casual sports gambler for 20 years (long before DraftKings). I scratch my itch there instead of gravitating to options trading and higher risk stuff in the stock market. Keeping it separated is very important.
This isn’t the helpful advice you think it is. Following this advice might put folks’ retirement accounts at risk. Please be careful.
Maryland's Official Sport is jousting. The idea of there being a betting ring on that is funny to me.
It is just a marketing expense that on occasion actually makes me a little extra cheddar.
Also, due to what I call “insider trading” It’s very difficult to figure out if the spreads are good or bad.
As a majority winner this year thanks to the chicago white sox after ive seen how bad they were in the beginning of the year, i basically robbed the sport apps and have now retired from sports gambling (even though they are projected to lose the same next year)
This was first foray in to sports gambling or any type of gambling so i think i beat the house 🎆
Gamble by buying stocks of a Sports Betting Company instead of using their service. Great advice.
Ever seen the excitement on a gambler's face in the Grandstand as his horse wins?... As he shouts "go on my son" !... And joyfully celebrates. Looking at how your shares are doing on the internet screen just doesn't have the same appeal / effect. For many sports betting is like sex. You pick your girlfriend (team / horse), put the condom on (strike the bet), and then in the game sometimes it can be an anti-climax, but can also be orgasmic! Stocks? Nah not for me.
I enjoy your episodes and often
hear and see an angle I had not
previously considered...thank you.
That's my 2 cents 😐
The court case was ruled correctly, but now that the responsibility is on our local governments to deny millions of dollars of revenue we're seeing them capitulate to greed. It's our job as voters to fix this problem.