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
... See moreNatasha Dow Schüll • Addiction by Design
Something I noticed a few years ago was the prevalence of gambling ads in everyday life.
Like, if you fly to Medellin, every billboard from the airport to the city is for gambling. Same in Eastern Europe.
My intuition is that the more hopeless the average consumer thinks their economic outlook is, the more likely they are to “risk it all” because,... See more
Like, if you fly to Medellin, every billboard from the airport to the city is for gambling. Same in Eastern Europe.
My intuition is that the more hopeless the average consumer thinks their economic outlook is, the more likely they are to “risk it all” because,... See more
Jack Raines • Tweet
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... See more