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describes the sense that the economic system no longer rewards prudence or long-term planning.

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I don't necessarily dispute most of this but I'll dispute this thought at least to some degree. It just takes time and discipline, as in many years, and many younger people simply don't have the patience for it.

Flip side of that is if they think the whole thing is going to come crashing down anyway so why throw money at a system that is going to crash in their lifetime. Hard to argue against that if that is someone's reasoning.

AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

I am always conflicted between investing and gambling. Sometimes they feel the same to me.

Pumpkinhead said:

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AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

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That doesn't mean crypto (or equities/ETFs) and gambling are the same thing. You decide when you sell or buy and decide when to hold a position or take a loss. It's not even remotely the same as gambling.

ThunderCougarFalconBird said:

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Good indicator is the English premier league. Around 75% of jersey sponsors are sports gambling.

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Every year we use Premier League teams for our soccer youth league jerseys. It's becoming harder and harder to find something I feel comfortable having 6-7 year olds wear that isn't promoting a random gambling site.

AozorAg said:

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Pumpkinhead said:

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AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

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That doesn't mean crypto (or equities/ETFs) and gambling are the same thing. You decide when you sell or buy and decide when to hold a position or take a loss. It's not even remotely the same as gambling.

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Speculative investment absolutely has a lot in common with gambling. It is no coincidence that the demographic of sports gambling and crypto investing are similar in that they both skew younger and are male-dominated.

Dopamine. It's exciting placing a wager and watching a game with money hanging in the balance.

I posted on this in the Stock market thread

this could be a REAL threat to Bitcoin

the same lonely Chinese men or the same western incels buying BTC in the past may be moving over to gambling on "events" and sports such as Kalshi and Polymarket

as you stated for the dopamine, and the "get rich quick" scheme. and it's just logistically easier to deal with gambling app than putting Bitcoin into a cold wallet storage.

making me think about selling more of my Bitcoin now!

LMCane said:

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I posted on this in the Stock market thread

this could be a REAL threat to Bitcoin

the same lonely Chinese men or the same western incels buying BTC in the past may be moving over to gambling on "events" and sports such as Kalshi and Polymarket

as you stated for the dopamine, and the "get rich quick" scheme. and it's just logistically easier to deal with gambling app than putting Bitcoin into a cold wallet storage.

making me think about selling more of my Bitcoin now!

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When Robinhood allowed crypto purchases it opened the door imo. Before that you had to have a separate app like Coinbase to make it relatively easy. Now you can buy stocks, crypto, or wager on a ballgame all from one app.

We'll see. Not sure that's optimal for society. There's already so many things out there for folks to get addicted to. Now throw online gambling into the mix.

texagbeliever said:

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ThunderCougarFalconBird said:

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Good indicator is the English premier league. Around 75% of jersey sponsors are sports gambling.

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Sport betting sponsors segments on almost any sports program. Prop betting is ruining sports, among other things.

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Oklahoma All American punter

who DROPPED THE BALL when he tried to punt in a Playoff game last week

says "hold my beer"

UTExan said:

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Check your ROI from a decently managed portfolio and you will get the dopamine hit. Use an online investment calculator and plug in conservative numbers over 30 years and get a really good dopamine hit.

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this is also problematic

an INVESTOR should never be making decisions based on a psychological impulse or dopamine high

that is called GAMBLING

Gambling is heavily associated with low status men.

Martels Hammer said:

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Gambling is heavily associated with low status men.

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Well maybe it used to be. It's mainstream now bigly.

I would say it's mainstream now since the average young man has fewer resources as compared to what generations past had at the same age.


Inspired by the feeling that they are behind where they should be. And they are. Some of it is not their fault. Some of it is.

Pumpkinhead said:

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AozorAg said:

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Pumpkinhead said:

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AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

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That doesn't mean crypto (or equities/ETFs) and gambling are the same thing. You decide when you sell or buy and decide when to hold a position or take a loss. It's not even remotely the same as gambling.

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Speculative investment absolutely has a lot in common with gambling. It is no coincidence that the demographic of sports gambling and crypto investing are similar in that they both skew younger and are male-dominated.

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It sounds like you're just an anti-crypto clown if you actually believe it's equivalent to sports gambling.

lol. Crypto is literally digital Dutch tulips and beanie babies.

FWIW, my stats prof at A&M used all of the games in Vegas and the US to teach about statistics.

By about the second week, I started noticing that every single game had a negative return. At 21 years old, I had already been to Vegas a couple of times and had a hell of a time. Yes, I lost money every time I went, but the drive and lure was there, until that stats class.

He fixed me permanently.

Like any politician in DC (candidly, any human with other peoples money), no matter how good that individual is, I'd gladly gamble with others money, but not with money I earned.

Betting has really jumped the shark. You can now bet on your bills. If you hit the bill amount, they will pay your bill.

J.P. 03 said:

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UTExan said:

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Check your ROI from a decently managed portfolio and you will get the dopamine hit. Use an online investment calculator and plug in conservative numbers over 30 years and get a really good dopamine hit.

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You're 100% correct on this, but unfortunately that message is lost on a vast majority of young people. 15-20% is a good year in the market, but these kids can jump on TikTok and see influencers pushing day trading content that promises bigger returns than that EVERY DAY. It takes decades to become a millionaire with an index fund, but their social media feeds are telling them they can get there in significantly less time if they just "buy the dip" and YOLO some 0DTE options. Shockingly, they fail to disclose the potential risks. It's terrifying.

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the one upside

is that most likely this part of the equities market is too small to really damage the entire structure

as long as that is just a part of the retail investor segment

and the larger institutional investors stay away from Gamestop we should be okay

Moe Jzyslak said:

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I don't get how people get addicted to gambling. When I travel to states that have legalized gaming, I'll indulge in it, but only with $100 max. When I inevitably lose that $100 I want to blow my brains out

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You can't be serious.

it's inconceivable to you how people GET ADDICTED to various activities?!!

do you also not understand how people get addicted to p@rn and to alcohol?

maverick2076 said:

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lol. Crypto is literally digital Dutch tulips and beanie babies.

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Anti-crypto clown confirmed. You don't understand it.

Moe Jzyslak said:

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I don't get how people get addicted to gambling. When I travel to states that have legalized gaming, I'll indulge in it, but only with $100 max. When I inevitably lose that $100 I want to blow my brains out

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This is 100% honest to god truth, the first sports bet i ever placed was a 1000:1 long odds future bet on the saint Louis Cardinals to win the WS in 2011. A 2 dollar bet that turned into $2000. After that, I got into online casinos and off of a few hundred dollar deposit, got to a bankroll of 20k playing mostly roulette... lost it all very quickly and then did the exact same thing again, building up to nearly 20k again, and of course losing it all again. Once you've felt those dopamine rushes, its hard not to be addicted and think for sure you can pull magic out of a hat again.

ETA: this was the beginning of a bumpy ride for me!
https://texags.com/forums/53/topics/1957137/replies/28851865

fasthorse05 said:

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FWIW, my stats prof at A&M used all of the games in Vegas and the US to teach about statistics.

By about the second week, I started noticing that every single game had a negative return. At 21 years old, I had already been to Vegas a couple of times and had a hell of a time. Yes, I lost money every time I went, but the drive and lure was there, until that stats class.

He fixed me permanently.

Like any politician in DC (candidly, any human with other peoples money), no matter how good that individual is, I'd gladly gamble with others money, but not with money I earned.

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You are fortunate to have learned this at an early age.

ThunderCougarFalconBird said:

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Good indicator is the English premier league. Around 75% of jersey sponsors are sports gambling.

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My uncle took me to make a bet at a bookie in the UK back in the mid 70s. Legal being is not new in the UK.