Hacker News with Generative AI: Gambling

Legalized online gambling in Brazil is leaving more people in debt (bloomberg.com)
At the headquarters of the United Nations, surrounded by leaders of countries across the globe, Brazil President Luiz Inacio Lula da Silva launched into a tirade about the evils of gambling.

Gambling, Brazil, Politics, Economy

18 points by 8en 9 days ago | 7 comments

Global gambling affects the vulnerable and is at almost epidemic levels (cosmosmagazine.com)
A new report from a commission established by The Lancet Public Health reveals for the first time the global scale of the problem of gambling and its consequences, which are growing rapidly across the world.

Gambling, Public Health, Social Issues, Global Impact

8 points by geox 20 days ago | 1 comments

Robinhood admits it's just a gambling app (theverge.com)
US citizens can gamble on the upcoming election on Robinhood, the financial nihilism app announced.

Finance, Gambling, Robinhood, Elections, Social Commentary

10 points by bentocorp 25 days ago | 8 comments

French trader bet over $28M on Trump election win using 4 Polymarket accounts (cnbc.com)

Politics, Finance, Gambling, Elections

7 points by donsupreme 30 days ago | 0 comments

Yes, You Can Now Bet on Elections in the US (wired.com)
A federal judge has cleared the way for betting on election results in the US for the first time in the modern era, overturning a prohibition imposed on gambling companies by the Commodities Futures Trading Commission, a financial regulator.

Politics, Gambling, Law, United States

10 points by sva_ 37 days ago | 2 comments

Deriving the Kelly Criterion to Maximise Profits (obrhubr.org)
In a fictional casino which offers even odds on a fair coin toss game, how much of your money should you invest? If you said anything other than 0, you’re leaving broke at the end of the night.

Finance, Gambling, Probability, Mathematics

50 points by obrhubr 41 days ago | 34 comments

Labour considers up to £3B tax raid on gambling firms (theguardian.com)
Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for funds to shore up the public finances.

Politics, Taxation, Gambling, Economy

7 points by donsupreme 42 days ago | 1 comments

Sports Betting Will Do to America What It's Done to Australia (jacobin.com)
Australia is the canary in the coal mine for sports betting, and Americans should pay attention to the destruction the industry has caused.

Sports Betting, Australia, Social Impact, Gambling, USA

6 points by PaulHoule 46 days ago | 0 comments

Mega Millions tickets will climb to $5, but officials promise better odds (apnews.com)
The cost of buying a Mega Millions jackpot dream will soon more than double, but lottery officials said they’re confident players won’t mind paying more after changes that will lead to larger prizes and more frequent winners.

Lottery, Gambling, Finance, Probability

5 points by geox 46 days ago | 3 comments

Pro bettors disguising themselves as gambling addicts (bloomberg.com)
Pro bettors have taken to disguising themselves as gambling addicts so sportsbooks keep the free money flowing.

Sports Betting, Gambling, Deception, Business

251 points by JumpCrisscross 53 days ago | 299 comments

Should Sports Betting Be Banned? (maximum-progress.com)
You may have seen this recent paper on the financial effects of legal online sports betting floating around econ twitter a few weeks ago:

Sports Betting, Economics, Gambling

37 points by paulpauper 57 days ago | 70 comments

How to Beat Online Poker: Russian Group Won Big with AI (bloomberg.com)

Online Poker, AI, Russia, Gambling, Strategy

12 points by alexey-salmin 63 days ago | 1 comments

DraftKings fined for online slot incapable of generating a win (gamblingindustrynews.com)

Gambling, Online Gaming, Law, Regulation

76 points by nhggfu 80 days ago | 23 comments

US gambling sector's 'relentless' social posts breached own rules, study claims (theguardian.com)

Gambling, Social Media, Regulations, Advertising, US

27 points by howard941 81 days ago | 0 comments

'Decadent and passive': China cracks down on 'throwing eggs' card game (theguardian.com)