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(Mirror.co.uk)   Inventors of fixed-odds betting - called the "crack cocaine of gambling" - sell their invention for more than $200 million after it made them rich and millions of people who can't do math poor   ( mirror.co.uk) divider line
    More: Stupid, Sunday People  
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2215 clicks; posted to Sports » on 26 Jan 2014 at 9:47 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



21 Comments     (+0 »)
 
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2014-01-26 10:01:13 AM  
Electronic gambling is a sport now? I blame ESPN and poker.
 
2014-01-26 10:16:24 AM  
Thanks for the 8 year old story Mirror.
 
2014-01-26 10:16:28 AM  
So wait, people who can ill afford to gamble are plunking their shekels into machines with fixed odds against them in the chance of hitting it? And are willingly doing so without coercion?

It sounds like the lotto- a stupidity tax for the gullible and moronic.

Help!! The Nanny State needs to save us from ourselves!
 
2014-01-26 10:27:03 AM  

Drunken_Irish_Joker: So wait, people who can ill afford to gamble are plunking their shekels into machines with fixed odds against them in the chance of hitting it? And are willingly doing so without coercion?

It sounds like the lotto- a stupidity tax for the gullible and moronic.

Help!! The Nanny State needs to save us from ourselves!


It's a gussied-up slot machine.  Instead of 3 spinning wheels, it shows a animated picture of a roulette wheel.

I have never understood the outrage over these things.  Stupid people will always gamble - be it slots, the numbers racket, or crap games.  But then, I don't gamble.  On the 2 occasions I've gone to a casino, I considered the money I spent as entertainment for the evening, not buying a chance at a bigger payout.  Maybe that's why I don't get it.
 
2014-01-26 10:30:48 AM  
all i got from that story is that some guy is rich and he is doing it by taking ray guy and chris kluwe's money
 
2014-01-26 10:57:57 AM  

Special J: Thanks for the 8 year old story Mirror.


Yup, breathlessly reporting something that took place in 2006.  "Wow, we noticed it!", the Mirror stated.
 
2014-01-26 11:01:30 AM  
The article never explains exactly how it works and what exactly makes it so controversial.  How is this different than your standard fruit machine?
 
2014-01-26 11:05:35 AM  
What is the big problem with these machines? What makes them more problematic than slot machines or video poker?
 
2014-01-26 11:08:15 AM  

Benevolent Misanthrope: Drunken_Irish_Joker: So wait, people who can ill afford to gamble are plunking their shekels into machines with fixed odds against them in the chance of hitting it? And are willingly doing so without coercion?

It sounds like the lotto- a stupidity tax for the gullible and moronic.

Help!! The Nanny State needs to save us from ourselves!

It's a gussied-up slot machine.  Instead of 3 spinning wheels, it shows a animated picture of a roulette wheel.

I have never understood the outrage over these things.  Stupid people will always gamble - be it slots, the numbers racket, or crap games.  But then, I don't gamble.  On the 2 occasions I've gone to a casino, I considered the money I spent as entertainment for the evening, not buying a chance at a bigger payout.  Maybe that's why I don't get it.


Helped set up gaming in Illinois, as a member of the Illinois Gaming Board's administrative branch.  Worked with them for 3 years, and have been to a casino approx. 0 times, since then.  It's farking boring being surrounded by losers, who don't know that they're losers.  Oh yeah, the casino people are scumbags, too.
 
2014-01-26 11:48:52 AM  

DemoKnite: The article never explains exactly how it works and what exactly makes it so controversial.  How is this different than your standard fruit machine?


The big difference is that these machines can take bets that are much higher than normal fruit machines so your losses over a set period of time will be much higher. The machines are much more aggressive in getting you to spend quickly.
 
2014-01-26 12:56:11 PM  

Tanukis_Parachute: all i got from that story is that some guy is rich and he is doing it by taking ray guy and chris kluwe's money


Subtle. Well played.
 
2014-01-26 01:17:12 PM  

zimbomba63: Benevolent Misanthrope: Drunken_Irish_Joker: So wait, people who can ill afford to gamble are plunking their shekels into machines with fixed odds against them in the chance of hitting it? And are willingly doing so without coercion?

It sounds like the lotto- a stupidity tax for the gullible and moronic.

Help!! The Nanny State needs to save us from ourselves!

It's a gussied-up slot machine.  Instead of 3 spinning wheels, it shows a animated picture of a roulette wheel.

I have never understood the outrage over these things.  Stupid people will always gamble - be it slots, the numbers racket, or crap games.  But then, I don't gamble.  On the 2 occasions I've gone to a casino, I considered the money I spent as entertainment for the evening, not buying a chance at a bigger payout.  Maybe that's why I don't get it.

Helped set up gaming in Illinois, as a member of the Illinois Gaming Board's administrative branch.  Worked with them for 3 years, and have been to a casino approx. 0 times, since then.  It's farking boring being surrounded by losers, who don't know that they're losers.  Oh yeah, the casino people are scumbags, too.


I've never been a big fan of gambling, but I've enjoyed visits to casinos from time to time.  When I lived in DE some buddies and I would head to Atlantic City occasionally.  Cheap prices for decent hotel rooms (always a great deal at The Sands), free drinks on the casino floor, and the buffets were a bargain.  I'd set aside a little bit of money to gamble, assume I'd lose it all, and just count myself lucky if I ended up winning.  About half the time I walked away with enough to completely pay for the trip and even end up ahead after all expenses, the rest of the time I'd blow the $100 or so that I set aside and walk away from the table games.

I never got the appeal of the video machines though.  At least with the actual table games there's a bit of a show to go along with the gambling.  I always had the best luck at craps, and the worst at blackjack.
 
2014-01-26 01:32:52 PM  
The wiki page only says it's a fixed odds (rather than the ever-variable sports betting odds) process with a cap on payout to keep a certain ratio of bet x odds.

If that's correct, the maximum bet for roulette would be $250 for red-black (1-1) vs $14 for single numbers (36-1) (assuming a cap of $500). I can see where you can rack up horrible gambling debts if you think betting more = winning more. And once again, zeros fark over the perception of even odds.

/Took a class on probability theory in college, loved it
//Gambling isn't fun when you can do math
 
2014-01-26 02:28:40 PM  
I went to a casino in Wisconsin with a couple friends recently.  First casino I've been to.

Nothing but old people and these video slot machines.  Creepy.  I like the idea of gambling, but I'd much rather be playing card/dice games or roulette or something, or even an older-style slot machine.  Having everything be on an electronic screen felt kind of distancing.

Of course, I probably would have had a better time had I won anything.
 
2014-01-26 02:55:59 PM  
its guys like these who deserve slugs in their skulls
 
2014-01-26 03:49:06 PM  
See, sports gambling is fun because then at least you have someone to say "well f*ck you, buddy" to besides yourself.
 
2014-01-26 04:16:26 PM  

LemSkroob: its guys like these who deserve slugs in their skulls


Yeah, you better bring plenty of ammo.  Don't kid yourself, their philosophy is the same as the people running any gaming operation.  As a member of the Illinois Gaming Board staff, I attended a gaming conference.  We sat in on some of the seminars, and they very eye opening.  Lets just say they have a predatory view of you, as the customer.  At one we attended, they discussing different marketing strategies to specific groups of customers.  A guy who sounded like he was from Jersey had an idea. He said that they should find out information on people who had received large cash settlements for injuries and try to market to them, because they're probably looking for something to do, you know, because they were crippled and stuff, and they had money.  The guy running the discussion gave Brainiac the "shut the fark up, there are outsiders here" look and the discussion continued with more conventional marketing ideas.
 
2014-01-26 06:06:12 PM  

Dafatone: I went to a casino in Wisconsin with a couple friends recently.  First casino I've been to.

Nothing but old people and these video slot machines.  Creepy.  I like the idea of gambling, but I'd much rather be playing card/dice games or roulette or something, or even an older-style slot machine.  Having everything be on an electronic screen felt kind of distancing.

Of course, I probably would have had a better time had I won anything.


Of the to dozen we have only 1-2 are even marginally worth setting foot in (Poto in Milwaukee and Ho-Chunk in the Dells which I'm guessing weren't where you were) and even their slots are tighter than Mother Superior.  Say nothing for the table games where a card counter can make out ok but the minute you go up from betting $10 to $50 or whatever you're count tells you five people have eyes on you.
 
2014-01-26 06:53:06 PM  
I like gambling when I win, not so much when I lose.

/lost alot
//don't gamble much any more
///I bet you care
 
2014-01-26 07:14:21 PM  

BMulligan: Tanukis_Parachute: all i got from that story is that some guy is rich and he is doing it by taking ray guy and chris kluwe's money

Subtle. Well played.


Took me a minute, but I agree. Well done.
 
2014-01-27 01:39:21 PM  
cdn3.sbnation.com


/That's the way she goes
//Sometimes she goes
///Sometimes she doesn't
////Piss jugs
 
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