they’re both dependent on recreational bettors to make their profits. In
they’re both dependent on recreational bettors to make their profits. In
Goffman regarded gambling as the occasion for “character contests” in which players could demonstrate their courage, integrity, and composure in the face of contingency.35 By offering individuals the opportunity for heroic engagements with fate, gambling fulfilled an existential need for “action” or consequential activity in an increasingly bureauc
... See moreNatasha Dow Schüll • Addiction by Design
Besides, when an originator like Peabody bets, the SuperBook at least gets valuable information—one of the best bettors in the world has tipped his hand and the Westgate can use that to adjust its lines.
Nate Silver • On the Edge: The Art of Risking Everything
Is America’s increasing penchant for gambling another sign of stagnation?
Nate Silver • On the Edge: The Art of Risking Everything
That taste for outsized risk has seeped into everyday culture. Wage growth has severely lagged compounded capital, causing ordinary people to increasingly see their best shot at real upward mobility in negative EV jackpots. Online gambling, 0DTE options, retail meme stocks, sports betting, and crypto memecoins all testify to the phenomena of expone... See more
thiccy • Tweet
Successful gamblers, instead, think of the future as speckles of probability, flickering upward and downward like a stock market ticker to every new jolt of information. When their estimates of these probabilities diverge by a sufficient margin from the odds on offer, they may place a bet.