General Discussion

Xolodno

(6,719 posts)

45. Yes. It is.

Reply to Algernon Moncrieff (Original post)

Mon Jan 25, 2016, 02:55 PM

Jan 2016

1. Should it be banned? No. Doing so will only drive it underground and increasing the problem.

2. It should be taxed AND the funds sent to addiction recovery and research.

When I walk into a casino....I almost never gamble. Years ago a bunch of us soon to be economists in the stat's lab ran the numbers on all the gambling options in Las Vegas and discovered....wait for it...wait for it....you can't win (well there is a way, but that will get you booted from the casino).

When I do gamble, ironically I always come out ahead...I attribute that to being able to walk away. Can't tell you how many times when I was on a "winning streak" and everyone at the table says "you're winning! Why are you cashing out?" So there is even peer pressure to continue in addition to the psychological "fever".

People probably looked at me weird and I sort of embarrassed my wife when I saw a sign "99% Payback" and laughed really hard (almost dropped to the floor laughing). It guaranteed you that you were going to lose and if you were lucky, only lose 1% of your money.....and yet, people fell for it.

Edit history

Please sign in to view edit histories.

56 replies

= new reply since forum marked as read

Highlight:

In your opinion, are DraftKings and FanDuel gambling? [View all] Algernon Moncrieff Jan 2016 OP

So is the Stock Market itsrobert Jan 2016 #1

Ideally, no -- but that's what it's turned into Algernon Moncrieff Jan 2016 #13

Penny stocks? rjsquirrel Jan 2016 #55

Yet inevitably every one of those investment contests is won by a 16 yo Algernon Moncrieff Jan 2016 #56

Nonsense rjsquirrel Jan 2016 #30

That's half true. Xolodno Jan 2016 #44

It depends on the Pink Sheets stock you buy jmowreader Jan 2016 #46

No it's all true rjsquirrel Jan 2016 #48

Sorry, was tired and part of your post didn't sink in.... Xolodno Jan 2016 #49

No prob thanks! rjsquirrel Jan 2016 #54

I do think they are gambling AND think they should be legal for adults. nt kelly1mm Jan 2016 #2

How should it be taxed and by whom? Algernon Moncrieff Jan 2016 #14

Taxed in the same way/Jurisdiction any other ecommerce activity would be. If I kelly1mm Jan 2016 #17

See 1.5 billion dollar powerball hysteria. Ed Suspicious Jan 2016 #35

Ayup. Iggo Jan 2016 #3

Gambling, yes. Travis_0004 Jan 2016 #4

It is gambling and it should be banned. Odin2005 Jan 2016 #5

Not that I am for either of the two sites, never played then or any online gambling... R. Daneel Olivaw Jan 2016 #6

I hate all gambling. Odin2005 Jan 2016 #7

Fair enough answer. R. Daneel Olivaw Jan 2016 #8

If you hated alcohol, should that be banned as well? brooklynite Jan 2016 #10

There is always a paternalistic element to the "it preys on the poor" argument Algernon Moncrieff Jan 2016 #16

Cannabis is banned in your State because some hated it and hated the cultures who used it. Bluenorthwest Jan 2016 #34

So I guess you don't want to make a bet? snooper2 Jan 2016 #39

So since you hate all of some activity it should be banned? How .... 'fundy' of you ....n/t kelly1mm Jan 2016 #42

Liquor stores are a one-way ticket to alcoholism Ex Lurker Jan 2016 #28

The State of New York is not against gambling per se, just gambling it does not get a cut of. nt kelly1mm Jan 2016 #43

I don't gamble but I fail to see the problem Codeine Jan 2016 #9

Sure, but I give no hoots. hifiguy Jan 2016 #11

It's pretty dangerous for recovering compulsive gamblers oberliner Jan 2016 #20

If we control everything in our society from the point of those with "problems" we will have nothing CBGLuthier Jan 2016 #26

The government is already taking steps to ban such foods. oberliner Jan 2016 #29

Some days I want to slap you all. It was illegal to have gay sex in many States until 2003. Illegal. Bluenorthwest Jan 2016 #36

Gambling means I have a chance to win. AngryAmish Jan 2016 #12

Wish I was 80% on football Go Vols Jan 2016 #50

Good for you. AngryAmish Jan 2016 #52

lol Go Vols Jan 2016 #53

Yes but I still think it should be legal Yupster Jan 2016 #15

It's gambling edhopper Jan 2016 #18

No question about it oberliner Jan 2016 #19

Yes. But I support a person's decision to gamble or not. bigwillq Jan 2016 #21

gambling with poor odds against the house dembotoz Jan 2016 #22

I think gambling, like many other activities, OrwellwasRight Jan 2016 #23

Lived all over the last 35 years, Go Vols Jan 2016 #51

It depends TSIAS Jan 2016 #24

Yeah,, but like online poker there is no gaurantee it has to be honest Johonny Jan 2016 #41

Yes, but also, in my opinion, gambling should not be illegal. CBGLuthier Jan 2016 #25

Yes, it is gambling. Yes, it should be legal NT Ex Lurker Jan 2016 #27

It's gambling of course rjsquirrel Jan 2016 #31

No, and here is why. Separation Jan 2016 #32

Of Course It's Gambling ProfessorGAC Jan 2016 #33

I'm also okay with gambling. Iggo Jan 2016 #37

Peas In A Pod ProfessorGAC Jan 2016 #38

Obviously gambling, should be regulated by states commisions if allowed to exist Johonny Jan 2016 #40

Yes. It is. Xolodno Jan 2016 #45

Why should one form of online gambling be tolerated and another banned? jmowreader Jan 2016 #47