Whole-known-network
<p>9/ I think this is difficult to understand if you're in the middle-class or higher. That's because you *can* afford that vacation and probably don't want the Lambo. But that doesn't make the betters irrational. Just optimizing differently. •</p>
<p>8/ So sports betting FEELS like the only place where you might have an edge that you can parlay into large multiplicative factor payouts. It's … almost rational. ↵</p>
<p>7/ But speculators want some knowledge edge. And what *do* you know? Probably a lot about your favorite sports teams. Probably a lot more about them than about companies or currencies or anything else. ↵</p>
<p>6/ That may not prevent you! You could grab a Robinhood account and start betting, sorry, trading. You can even get leverage through margin, if you qualify. At high rates. And many have. ↵</p>
<p>5/ So you need to engage in "speculation". The other form of speculation available is the stock market. But (a) you don't have capital and (b) you don't know how to read a balance sheet or anything. ↵</p>
<p>4/ If you could just change your job or circumstances you would have. Can't change your past either. The problem is: there are NO LEGAL WAYS left of making a pot of money. And you're not a criminal. ↵</p>
<p>3/ Maybe you're a young guy dreaming of a Lambo. Or a single parent whose kids dream of going to Disneyland. Or even just some cool shit you saw on Instagram. It's totally out of reach. ↵</p>
<p>2/ Imagine you're working in yet another eviscerated job or industry. You're not making much. You also don't see much hope of making more. Even an extra $2/hour only helps you stay afloat, or gets eaten by inflation. ↵</p>
<p>1/ I've been thinking about the rise and rise of online betting in the US, and have a bit of theory. There are MANY explanations (boredom, etc.), but I think this is also a part of it. ↵</p>