The Dangerous Wild West of Online Gambling
Vložit
- čas přidán 10. 06. 2024
- Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba
If you’ve watched any American sports game recently, there’s a good chance you were blasted with an ad from FanDuel, DraftKings, BetMGM, WynnBET, Caesars Online, and various online casinos promising free money and million dollar jackpots upon signup. Historically, sports betting and gambling in the US had been heavily restricted where you could only legally play offline at isolated places around the country like Las Vegas and Atlantic City.
But in the past 5 years, the landscape has evolved dramatically as venture capitalists have invested billions into mobile-first gambling startups like FanDuel and DraftKings. But despite the relentless advertisements and celebrity endorsements, online gambling and sports betting is nothing more than a wild west where no one is telling the truth.
It’s a market so new that everyones boasts that they have the greatest market share, the best apps, the most users, and the fastest growth. In this episode, we’ll unmask the wild wasteland of online gambling in the US, the economics of traditional casinos, the political dynamics behind this market, and what FanDuel and DraftKings are really betting on as they pursue adoption at every turn.
💬 Join the Modern MBA community - / modernmba
☕️ Support Modern MBA on Patreon and unlock additional content, exclusive essays, and Q&A: / modernmba
0:00 The Business of American Gambling
1:15 Sponsor Break (Kajabi)
2:54 Traditional Vegas Giants
17:21 Short-Lived Digital Gold Rush
24:20 Casino or Bust
30:53 Gambling as a Virtual Commodity
Right now, Kajabi is offering a free 30-day trial to start your business if you go to kajabi.com/modernmba
0:00 The Business of American Gambling
1:15 Sponsor Break (Kajabi)
2:54 Traditional Vegas Giants
17:21 Short-Lived Digital Gold Rush
24:20 Casino or Bust
30:53 Gambling as a Virtual Commodity
Commenting for the algorithm!
I'm getting a 404 on that link
If you were jake tran you would have just put an ad for online sports betting haha
Repeating “new gamblers” instead of “young gamblers” was definitely a calculated choice. Holding out for a draft kings sponsorship
@John-PaulHunt-wy7lfthis!! It’s all about the money now. Where’s the actual passion like back then??
@John-PaulHunt-wy7lfif you really like the sport then you shouldn't care about the sponsors...
Haha I’m 16 playing stake rn
how funny would this be if modern mba got a Stake sponsorship next
I honestly respect getting paid to shit on and then “endorse” these companies lmao
Vox did a video on pollution, and was sponsored by Delta 😅
Temu had no shame, lol
@@zarik1203that’s greenwashing, different thing
its so goddamn stupid. we pay for services that give you ad free, and now content creators just sell out and advertise directly in their videos
Just a small note: here in Nevada we have gambling EVERYWHERE, not just the vegas strip. Every gas station convenience store has gambling at it.
There are slots in their airports. You can literally keep gambling from the moment you get there til it's time to leave 😂
Yeah, he's aware of places like Dotty's, Joanie's, or PT's, but I think he just wanted to generalize for brevity's sake. I've told him about all the NIMBYs in my part of town who whine on Facebook whenever they're planning a new Dotty's, haha.
that was the hilarious part about living in nevada, i would go to the grocery and next to the kiddie rides near the entrance was a room with a line of slot machines
Former Elkoan. Can confirm. The most we ever gambled was Dad tossing a fiver in the gas station machine and either getting nothing and stopping, or occasionally getting his gas tank money for free.
I'm VERY lucky I was raised around such responsible use.
Is that true? I always sorta thought that was just some kinda hyperbole on Hollywood's part, having gambling and stuff everywhere.
> striking a balance between ethics and sales
> running a business around gambling
pick one
I think that quote could be applied to a lot of businesses/industries that sell things that could be considered unethical.
@@jvanek8512 examples? (i'm just curious)
There is nothing unethical about gambling.
@@UnprofessionalProfessor I mean, its about as unethical as taking money from suckers, which is pretty unethical to me.
@@IsaacShoebottom Spoken like a true sucker. 🤷🏿♂️
It is insane to me how much online gambling is being pushed now.
Personally I feel as though it’s a sign of bad times? Or the start of it, since if this much gambling is being advertised there’s a sudden bigger market for it. And why would that be? Hmmm lol.
I totally agree with you@@Tattootin
@@Tattootin The latent demand was clearly there. Fantasy football between friends or coworkers have been a thing, legal or not. I doubt this new market is creating new demand that wasn't already there, but maybe
@@kphaxx the advertisement rush that is hitting me, and I mei make a decent living as a professional Tattooer. But I’m riddled with ads from all those betting sites. Like casinos have had their sites that have performed amazingly the past couple decades. But now this surge is just sad. I have a couple of apprentices at the shop. Not mine thank god, but one of em is loosing ALL of his extra loot lately and it’s predatory I think and ya might hear this in the near future but “parlays” it is all these younger kids talk about and it’s such a shit scam in a way it’s like a lottery in disguise. It’s a low betting scheme but a multitude of bets that ALL have to go in your favor. But it’s usually a small entry with a large pay off. Seems harmless until these kids can’t stop betting on hope… but it’s just an observation? And I’m just a nobody lol. I think too much about the things that don’t affect me much?
late stage capitalism, every new amrket is being bought out or squeezed for every penny
USA has opened Pandora’s box by liberalizing online gambling. It is not without reason why online gambling became more and more regulated in Europe. This will create masses of addicts and destroy families. I have seen successful people gambling away their entire existence
I used to online gamble a little back in the late 90s and wasn't sad when it got outlawed
Agree - pretty much all ethics codes made by man has gambling frowned upon. It’s destroyed families in the past and it’s greater accessibility will only continue to destroy families
It's insaane because we actually had decent opposition to online gambling for a little bit but then the football bros got way too into fantasy sports and suddenly everyone was down for their "game of skill".
I can handle online gambling like an adult. I don't want it taken away because other adults can't control their impulses. That's penalizing responsible adults.
In Europe it was less regulated than what is presented here in this video. Some countries have more rules than others, so Eastern Europe is flooded with sports betting and gambling, both online and brick and mortar.
Is it a coincidence I got nonstop sports betting ads while watching this video? So sick of it absolutely flooding every game and race I watch now.
Aside from the people who will become addicted, I'm also concerned that all these ads are ruining the spirit of sport. I want to see my team win. I don't care if they cover the spread or the total scoring is above x goals.
I initially hated it in UFC because I really didn't want to know who the favorite was for each fight. I wanted to be surprised. It's boring when I watch an undercard fight and I see one guy is -1100 favorite.
I even see ads for it when I go on Snapchat. I give zero f's about gambling and the ads I see on snapchat make me not wanna go on the app in the first place
If regular casino style gambling is considered addictive, then online gambling would be 10 times more addictive. The low barrier to entry, the convenience, small bet amounts, instant gratification make it way worse.
Nice video! It's a shame that you didn't touch on the real Wild West: illegal gambling sites. Here in Indonesia, it's very popular with the lower-class. For as low as roughly half a dollar, you can throw your money on an illegal website to play virtual slot machines. In fact, the slang for online gambling here is "slot".
These gambling sites are operated overseas in places such as Myanmar (and Philippines iirc), so it's hard to crack them down. You block a site, they pop up again. They don't even have to pay your winnings sometimes, they can just block you and you can do jackshit. Coupled with how the Indonesian govt. barely gives a shit on the issue (because they alongside the rich benefitted from it), it's an epidemic. The poor selling their motorcycle and furnitures in a bid to gamble more, the middle class fired from their jobs and falling into poverty, to even some of the rich losing their entire business from their gambling addiction ion. It's a harrowing story, one which I and millions of other Indonesians are forced to witness.
God, this is so true. Also its scary how there are Online gambling ads everywhere (even on Indonesia news's site)
This is happening in Malaysia too. The illegal online casinos are untouchable due to political protection.
We had those in the US in the late 90’s/early 2000’s
Here in the US, we have gambling games in gas stations that people gamble. Fish tables are really popular in the South we I'm at.
Chinese Gambling sites and apps (with one Russian i can think of) are prevalent in SEA. And I think those earnings they get are to fund sketchy things... Allegedly.
Im forever disgusted by the fact that NY is doing all of this while claiming poker isn't a skill based game and keeping it illegal. Unobstructed blatant double standard and fuckall will happen.
Got one of those Buffalo slot app adverts before this video.
CZcams either doesn’t care or is one of the greatest comedians of our time. Probably both.
CZcams only cares when news industry journos put up a big stink.
I can't remember who made it but there's a great video on why CZcams has to accept every advertisement they get paid for, including medical misinformation and actual calls for terrorism
If they don't, they don't make enough money to stay up
BUFFALOOHHHH!!!
@@Ramonatho Multibillionaire corporations starving if they don't do their shady businesses is the greatest joke of all time.
It's just statistics. A video about gambling is more likely to have viewers receptive to gambling ads, whether it is a positive or negative light.
I worked as a customer support agent at an online casino based on Malta once. A lot of the players I communicated with were just twisted.
But their money is still good
More explanation plz
I get Draft Kings ads watching pro wrestling, asking you to bet on abstract parts of a match like who goes for a pin first and the way the match is won rather than the winner. I genuinely don't know how they're allowed to do that given literally everything about a match can be planned out beforehand if the wrestlers or bookers so choose.
If you don't think there is fraud going on behind the curtain with the bookies and the sport leagues, I've got a bridge that connects two cave systems to sell you.
Exactly. This type of gambling has created huge amounts of point shaving and match fixing in every sport at every level. There was an article in the Washington Post a couple months ago about this issue in the lowest levels of professional tennis. Players were paid to lose a single set, so they didn't even have to lose the match, but the betters could still win. They might even get paid more to lose a single set than they would to win the whole tournament because low-level professional tennis is so poorly paid.
Few things make me happier than seeing scummy, ethicless companies struggling.
Unethical
Just in case English isn’t native
@@2oqhno u
Speaking as a Brit, sports betting has been arguably responsible for a massive increase in gambling addictions in recent times, not sure how it is in the US, but here, some of the more poverty-stricken areas are just loaded with sports betting places right next door to one another. You'll often see about 3 or 4 different ones on the same side of the street. It's to the point where you can actually judge an area's poverty level by how many of these places you can see. It's predatory and disgusting as hell, and the rise of online gambling is also something to be really cautious of. As they say, the house always wins, because they know they can get away with preying on those in hard conditions just praying to strike it big.
This is exactly how gambling became enormous im Serbia. We always had sports betting.. This is hardly able to create problematic gamblers.. I know because I turned out to be one, while I had control over sports betting and was in some small positive balance of over a decade before gambling, they got me by electronic roulette and slots.. They became a regular part of any sports betting place..
If I can try to explain how vice like different forms of luck based games are, sports betting for me was like a large pint of beer, once a week. Felt good, occasionally won and it made watching football actually exciting.
Compared to that, slots or roulette are for me proper gambling. It is in terms of drugs, most close to crack. Once you try it, you want more. If you allow yourself to be in that state for long enough, now you are completly psychologically addicted to it. Once you are out of money, in the start you will stop, until some more money comes in. Later, you are so obsessed with it that same minute you just run out again, you will try to think of any way. Not every legal way, every way to get more time to play.
Basicly the only good thing I could find from that whole ordeal, once it was done about 10 years ago, was that once I went trough watching every material thing, as something that could be sold for more play time, I have become severly less interested in buying and owning things that I don't need to function in my everyday life.. Hardly a worthy trade off, but only thing I could find.
The US has generally kept a tighter lid on gambling, though it's still the same broad trend where the poorer the community, the more prevalent the casinos. However, you can absolutely find poor areas that don't have casinos or gambling advertisements in them.
US media is slowly sounding alarm bells and calling for politicians to start ratcheting down on online gambling, with activists calling for similar regulations and controls getting adopted in Europe like universal single opt-out. I'm mildly optimistic that given how most US states outright ban online gambling as we go through the first wave of sports integrity scandals, we won't see as big a rise in problem gambling like in Europe before we establish the new cultural equilibrium.
There's a reason every moral and ethical code ever created by mankind has frowned on gambling.
There's gambling with friends and then there's casino gambling. Know the difference. Casino is not gambling. It's a business of scamming
@socksss "There's gambling with friends"
Tell your "friends" that you lost the rent money and ask them to forgive the debt.
See if they stay your friend. . . . . . .
@@incurableromantic4006 I think he means there's a big difference between throwing down $5-$50 on a casual bet between mates every so often, and being all in on gambling, throwing down literal thousands weekly for the chance to win big
@incurableromantic4006 that's why a gentlemen bet of $1 is usually the way to go
@@incurableromantic4006 oh shut the fuck up, friends don't let friends do that, but you don't have any real friends so you wouldn't know.
goated topic, been waiting for this one. the rise of online gambling is a massive problem that will only continue to get worse. i know multiple people that are way too into it and have lost thousands.
Its happening worldwide, probably being controlled by some select companies
Love your content MMBA, idk if youre taking video suggestions, but i would LOVE to see an episode dedicated to POS systems hardware and software. Companies like: Clover, Square, Lightspeed
for UK viewers, "Vicious Games: Capitalism and Gambling" is a great book about the history and sudden rampant growth of gambling in the UK.
Capitalism: a system that allows laborers to make the money that is pissed away on slots
Which is ironic considering The UK is anything but capitalist
Proper black jack (i.e. where a blackjack pays 3:2) has a house edge around 0.5%, not 1-2% with proper "basic strategy" play. That's why card counting works due to card elimination and the odds changing as the deck(s) are played through.
.5% with perfect basic strategy. 1-2% is probably correct if you factor in all of the players at the table, including the ones who are not using basic strategy.
There is an error in jumping from a 1-2% house edge to the player having a 48-49% win rate, though (even if we simplify the game and ignore ties and multiple bets). A 48% win rate would equal a 4% house edge - the difference between the house's 52% and the player's 48% - not a 2% house edge.
@@ArmadilloAl
True, however it’s not a simple 50-50 bet. Blackjack gets a 50% bonus. It also doesn’t take into account splits and double downs.
I'm just going to point out that to any normal person, both of you look like drug addicts talking about gambling like that. Jesus
@@JPINFV if someone splits 10's i'm immediately leaving the table. Good luck counting over there i'm sure it'll work out for you.
@@ryanr4361 On one hand, I wasn't talking about splitting 10s.
On the other hand, IIRC, splitting 10s against a 6 is proper play with a +5 count... and against a 5 with a +6. It's also a good way to get a lot of heat though.
This is why you open an online crypto casino in a shady island like Curacao and then operate without worrying about taxes lol
Over regulating has always led to attractive grey/black market alternatives.
Men: evading the rules and showing they have no morals
Other men: "see the problem is the rules"
@@ragepig1059 the law isn't moral. It's the law.
Eh, could be skeezier. Maybe find a way to incorporate a pyramid scheme into it somehow?
@@Stinkoman87essential oils and gambling. What could go wrong?
It's honestly insane how readily sports leagues have flipped to completely endorse sports betting. The inherent threat to the integrity of the game made interacting with betting a complete nonstarter for *decades*, and now in a few short years, they're all-in on pushing this crap with official sponsorships and ads.
how it differs from alcohol ads?
don't gacha games already have a huge base of chronically online players? how will online gambling platforms compete with them?
They'll need anime girls of various archetypes, maybe some vtubers, and definitely seasonal decorations they can decorate an avatar with
Normal gambling offers the possibility to win real money, not just anime pngs.
@@karenwang313 *Uhmm. actually...* they're jpegs. 🤓
People don’t play gatcha to make a profit or earn real money, they do it to progress in a game or the social status of completing more of the game. Outside of very few cases (like CSGO knife skins), there’s no way for players to reliably convert in game currency to real currency like USD. I know there’s ways to sell your WoW gold or whatever on shady 3rd party sites but the players have a risk of being scammed or banned.
@@RaveN_EDM So you gamble away your money with a zero percent chance of making it back?
As a romanian, I am proud to see my country on the second place, just behind USA.
It's like being second place in HIV statistics
As a romanian, we are used to be in top of worst rankings
You can not even compete with India.@@YOCOSMINMAX16
@@KappaClaus No shit, Sherlock!
@@YOCOSMINMAX16 Yeah, true. Rup românii păcănelele. 😂
How it was pitched here in Louisiana is that gambling is a bit industry here, which is true. Lots of people already go to the casinos to gamble. There's already a lot of underhanded betting on sports that is off the books. Let's get some taxes, jobs, and tourism going. Why not legalize sports betting? It made a lot of sense at a local level. Where adults can spend their money on an activity they already were engaging in. But, instead, we got mobile gambling. I was a substitute teacher in 2023. I was teaching at a "school away from school" where the suspended kids go for fighting, bringing a gun to school, drug offenses, etc. so that they don't miss being in school. I was talking to one of them, him being about 17, and we had a good conversation. He had said he had gotten some money and was going to travel. I asked him from where'd he get all that money? He said he'd won his sports bet and was going to roll that $500 into another bet. There's so many implications to this and I won't go into them. But it is what has seriously cemented me against online gambling.
Pennsylvania used a similar argument to build casinos there about 20 years ago. They were losing money to New Jersey.
If you’ve never gambled, you’ve a bigger profit from gambling than 99% of gamblers.
On the other hand, the most you can lose while gambling is 100%, but the most you can win is theoretically limitless. So idk
So can running your own business. So idk
If u buy stocks that also holds true, but stocks have a history of growth and an incentive to continue growing. Gambling on the other hand will statistically leave you at 0 if you play long enough.
Saddly many addicted gamblers find ways to lose more than 100% by borrowing from people who wont let a bankruptcy stop them from collecting
so not only are the users losing money, but all the sportsbooks are losing money too. The only winners are the advertisers lol
Quite unironically a very similar thing has happened in India, where it was only legal to gamble in certain places, perhaps only Goa. Now there's a flood of betting apps, all under the pretext of "Game of Skill" rather than chance
And the 28% tax has just prompted platforms to give a 28% bonus to players, in the hopes of generating a new pool of addicts.
@@rafaelmarkos4489 they always find a way huh. I thought 28% would be the end of online betting games in our country.
I get inundated with sports gambling ads, especially on CZcams. Yet I have absolutely no interest in sports. I don't watch videos about sports, visit sports websites, read news about sports, nothing. Maybe because I have a high interest in video games they think "gaming" (aka Gambling) are one and the same? I don't know. Either way, it's extremely annoying getting these ads!
Thanks! I asked you to do this business months ago, and you delivered.
I think making gambling available anywhere anytime is a terrible thing that will hurt our society. Imagine being an alcoholic that lives in a liquor store, having gambling on your phone, which you have with you everywhere you are, is even worse. Yea, not everyone is predisposed to gambling addiction, but its not like we are for want of ways to spend and waste money, don't need this.
Personally, I only see the appeal of gambling when I'm being given free food and a room to do it (which the only casinos I visit do), because I look at it as "They are giving me x dollars worth of stuff free, so I'm willing to gamble that much". That and my older relatives like it, and its nice to spend time with them. Wonder how kids raised on microtransactions and lootboxes will see it.
yea i feel like its especially harmful bc by now weve really figured out how to make things addictive in a way we couldnt have done in the past, like every social media has complex algorithms now that are designed to keep you there as long as possible to make the site/app as addictive as possible. we implement addictive features that ARENT gambling in so many places, if we're allowed to do that with gambling i cant imagine how miserable that would be. like the stuff you mentioned about kids raised on microtransactions and lootboxes, its insane how normalized this has become where gambling is encouraged in people from childhood. i genuienly think we need to treat gambling like we treat cigarettes, in terms of legality.
Basicly same , tho idd personaly just fully not enter all together , thereby owing 0,00
Online casinos are legal in my state and I quite sadly recall an acquaintance visit from a state which prohibits it gamble away ~10k in less than 24 hours. Thing is, we have brick & mortar casinos, too but we didn't even go to one! The guy sat in a friends' backyard and - unbeknownst to us or his family - just chipped away at the savings account.
This stuff is indeed dangerous. I know rock-bottom alcoholics with not only greater will power but more importantly, less access to their vice.
What's dangerous is your friends irresponsible actions. The casinos did nothing to force the dude to fork over his cash.
I do agree that online gambling can be as dangerous as other forms of addiction but gambling is one of the only addictions where people remove all forms of individual responsibility and solely blame the casino. Thats the equivalent of saying the crack made you smoke it.
@s0070 and crack dealers are a boon for the local economy.😂
Wrong analogy. Of course crack doesn't make you smoke it. The blackjack doesn't make you play it, either. It's the drug dealer, and the casino, who use psychologically manipulative tactics to hook you and lie to you about the safety of what you're doing.
@@sarahpowell671 he probably thinks the local drug lord is doin' the lords work. As I alluded to, even bars and liquor stores cut you off. Intentionally placing a casino in an addicts pocket is insane.
@@sarahpowell671 a better analogy is fast food. But I think we've exhausted the usefulness of analogies.
Should we ban the big Mac while we're at it?
Small note- Native American reservations are under federal law. You said they were not, that is incorrect.
And you said the same thing 3 different ways in only 2 sentences!
seems like the worst of all worlds. You lose money and its less fun. Additionally, time and time again we find that accessibility only leads to increase in addiction. As long as the state gets their cut though right? surprised they dont accept ebt yet
At least when I lose in vegas I can go watch the Bellagio fountains for a while and smoke a cigar lol I'd rather do that than finish wiping my ass after losing $500 on slots using an online casino site on the toilet.
I had a period of my life where I had a substance abuse problem (clean now dw), and these kinds of gambling apps are very predatory towards users. I would see so many people get high & waste so much time and money on these apps. They were like slot machines zombies. It was really sad & really predatory
I got at least 5 Sportsbook ads watching this video😅
that is crazy.
you can avoid that by using the lion browser for youtube.
Literally every ad I got while watching this was for BetMGM or draft kings.
Las Vegas does not limit gambling to only the strip. I flew there in June and there were places to gamble right in the airport
Brazil's going through the same thing, you see online casinos everywhere! feels like everyday 10 more are born, creating an online casino is such a streamlined process you can have an operation running from zero in just about a month here, i know because I did graphic design work for 2 online casinos, but not all of them survive more than a year I would say, the top players are well stablished and the public is afraid to try the new guys because of all the scams involved in this sector
I go in like 7 different online gambling accounts and claim my $1 a day everyday on all of them and after a month I withdrawl and it’s literally a free $200+ a month 😂
Wait, really!? I might look that up. Mind dropping the site names?
I'm sure you have to wage if you want to withdraw.
That wouldn't continue for long, casinos adjust free bets carefully and halt them as soon as they starting lose money if enough people find free money glitches.
It’s the same plague of sports betting in Canada too, exact same companies and they make up like 50% of the commercials on live sports
This analysis was so good, I had to watch it twice 👌🏾
Your content and analysis are always outstanding!
Drug dealing is illegal while this is normalised. Same thing.
Yep.great point!!
This Man Just Compared A Game To Something That Literally Kills People. WOW
@@dannyross8 Most drugs don't kill people at all, not more than gambling anyway. A lot of people have died due to gambling debts or suicide due to it.
@@incremental_failure stop spreading misinformation there were over 107k deaths in the US alone for drugs. Less then 500 for gambling addicts a quick google search from the company that owns the platform you’re typing this comment on could go a long way buddy.
Loving your contents so far! Thank you for your dedication and passion for making consistent, high quality videos.
For your next video ideas, would you consider creating a video on the business of semiconductor design and/or cybersecurity providers? I think that would be helpful as those fields tend to be arcanely obscure to people outside the field
Wow this is really good. The gambling industry has been a massive interest of mine. I never really considered online casino strategy as a loss leader before but it makes so much sense now that you point it out.
Modern MBA, the best channel in all of CZcams, I mean it -- the quality of each video is unprecedented, each video is so interesting and well written, and the narrator is also doing the most!! thank youuuu
modernMBA should do a video on the evolution of marketing and how content creators are forced to spend a minute advertising something they don't give a shit about
…have you watched television?
Are they 'forced,' though?
In Boston, the Encore hotel and casino has free water taxi services and bus routes- and it's no surprise that two of the routes go straight into Chinatown to prey on the poorest and most susceptible to gambling addictions. Walk the casino floor in off-hours like midday and the people playing are 50% asian.
Very good research and explanation as always! Looking forward to the next video - I feel more smart after each one and am starting to get a knack for this type of analysis on my own.
I was raised in Nevada for about a decade and was surrounded by poor gambling habits. They have one-armed bandits in the grocery stores, and people would gamble away their money on a grocery run and be back to destitution within hours of being paid.
Gambling already holds no allure for me; nebulous online promises lf safe fortune-making makes me laugh.
All I know is that Fanduel and Draft Kings should change their names at this point.
It is darkly amusing that the state is like "where's MY cut?".
It's so interesting that a big chunk of this focuses on Wynn and specifically the Boston Harbor Encore property. I've lived the next town over ever since the idea of a casino people installed was a question on the ballot.
You and Branch Education are doing saints work creating these types of vids for us to truly learn from
very interesting video. I go to Vegas at least once or more each year and over the years since I started going back in 07 has changed. I used to go for 2-3 nights and spend nearly my entire budget in the casino and then eat and drink at the cheapest places possible. now I usually spend 3-5 nights in Vegas each trip and have larger budget but am still in no way a high roller as I usually take around 1k per trip for entertainment and less of that budget goes to gambling each trip. I spend a lot more time at lounges, shows and at nice restaurants. sure gambling is fun and I enjoy spending some time at the craps table or playing slots but that has become far less important. all that being said I'm honestly against online casinos. sure it may be cool to play some slots or black jack online but when you take away everything else that places like Vegas and Atlantic City offer the chances of addiction would go up as all you can do in the online casinos is gamble so you don't have something that will pull you away. but I'm not a behavioral scientist so I may be entirely off. All I can say for sure is I won't be spending any money in online casinos because I keep that as something special for my Vegas getaways.
Same. I usually take 2-3k to gamble and most of the time it's in old vegas where blackjack goes as low as $5. The rest is on experiences/dinners. Looking forward to trying the new cigar lounge in Caesars.
The fact that you can gamble on your phone is the real kicker for me. No need for that.
At the very least even if it was a desktop obviously can still ruin a life but there’s no need at all for mobile
6:20: I don't know if it is current but FWIW Atlantic City at one point had a court ruling that players could not be kicked out or asked to play another game for card counting.
U deserve millions of views. Keep up the great work.
I would say gambling is more dangerous when it can be done in private behind closed doors online
This video is very nicely done and researched. Extraterritoriality of Indian reservations as well as the breakdown of the cost structures of the presented casinos gives some unique insights into the industry that Im sure a lot of people may be unfamiliar with
Its due , its due..
I remember when I used to bet on sports, horses, and dogs at the bookies, justifying my stakes by whatever I hoped to win. It was a very dangerous way of betting. The slot machines made it worse, as they made you believe a win was due simply because people had put so much money into them.
The worst off its due now...
This was even worse in the arcade, which also had slot machines. I would try to look inside the machines near the reels to see if the money tubes were full, or I would ask the staff which machine was due for a win. They had no real idea. It was a sad place in the end, as one of the staff members also got hooked and would get me to play tokens for them, hoping to win back what they had lost and some extra money. It got complicated because they couldn’t always write off the tokens they lost as potential faults on other machines.
You should look in to the australian epidemic of gambling/"pokies"
In your poker analogy @32:20, the traditional casinos "called" rather than "checked".
Every time you said the name of that Casino, all I could think was drake saying Anita Max Wynn
My mother is a casino director for a tribe in Kansas and one in Oklahoma.
She is over the Food, Beverage, and Alcohol divisions.
100% she tells me that no casino restaurant or bar operates at a profit.
I believe her. She’s been doing this for 35 years.
Unless she has worked for every casino she can’t possibly know that 😂.
I think the most insidious part of online gambling is the way entities like Stake sponsor online streamers and content creators in order to market to a predominantly underage market. Really sleazy, and should absolutely be illegal
Stake is god awful and the governments of the world have not caught up to what they are doing
They make legal gambling look bad but its dubious to say all that they do is legal
Been looking forward to this one
geez, everyone's getting so many online gambling ads. glad i live in a place with (i assume) strict laws on gambling
LETS GOOOOO! Best channel on youtube!!!
You pointed to Reno when you were referencing Las Vegas. (Vegas is towards the southern point of Nevada.)
Outstanding analysis as always
Hello, is there a way I can access to the sources used? I plan on doing a project, found the video very helpful and would like to dig deeper into the information used. :)
The amount of money generated from the taxes and fees collected from gambling is way less than the amount of damage gambling causes to people's lives and society in general.
thought the thumbnail was an ad, took me a sec
Those house edges are wildly off on that chart.
Whats gross is the celebrity endorsements. Just sell drugs too. What the hell?
You should do a video on the business of golf.
Whats funny about that quote from the Wynn CEO is that roulette is different around the world, its not the same in european casinos.
just a small note, on your map at 22:15, its legal in DC, however, I think its regulated through one company. though I would need to pull up a source to be sure.
The other 21 states can use a number of other Online Gambling Apps that are ran overseas.
hilarious part is i got a gambling ad for this (a counter strike skin gambling site)
When was this originally aired?
the australia information is incorrect
#1 we have 14 casinos in australia, not sure what the 200 number is but if thats for just "any type of gambling" then i have 200 bars that house pokie machines in my local 10 mile radius so that stat is very wrong
#2 at 27:29 it is completely illegal to advertise to australian consumers with any type of online "house of edge". sports betting to my knowledge is the only thing allowed, so the market is not thriving in australia because it technically doesnt exist, at least not legally, if you try and sign up to any of those sites they will restrict your access and say you cannot play from this country, implying use a vpn and then everythings dandy.
Amazing educational video. Great job. These despicable sport betting startups do their best to take every dollar an honest American is making. They should be shut down by law and their founders thrown to jail.
You left out a big event in the timeline. Draft Kings and FanDuel attempted to merge in 2017, but FTC disallowed it.
Giving how much gambling screws over real people, there is something kind of satisfying about watching “the house” itself get screwed over by state governments.
Great video!
How is stake not mentioned?
I’m in the beginning of the video but I clicked on this video just to know more than the Stuff I seen, and how during Covid there was like a explosion of gambling apps
good video, and about your closing statement. I do think that the worst part of online casinos is the accessibility. With real casinos, you need to physically travel to the location and then gamble, whereas these online ones just require downloading an app.
This is also my own theory, but I also think that the recent rise in crypto and other online scams are related to these gambling apps. I've heard a couple of anecdotal stories of gamblers catfishing people on dating apps and social media to fund this addiction. I'm curious to know if any scientific articles will be published studying this.
Ironic that every mid roll is an ads for casino.
Mine are running shoes
It's sad that North Carolina folded to these online gambling sites :/ we have been fine without gambling other than on the reservations
Got a gambling ad for this 💀
I'm being bombarded with sports betting ads, and I do not watch, follow, engage in, talk about sports out loud, or even notice sports ever! I'm anti-gambling and sports-averse. I do not know why I'm being targeted and I just continuously click HIDE AD.
There is definitely a new breed of gambler out there for the simple reason that humans equate proximity with consequences. "The more distance between me and what is going on, the less I feel impacted by it. I'm safe at home, not at a casino. That means i'm not really losing that much money, and I'm not really gambling. I'm gaming."
I’m surprised you didn’t mention the international gambling companies that allow Americans to gamble without rules or regulations. It’s way worse than American casino gambling since they don’t even have to pay out it’s completely unregulated and the odds aren’t regulated so nobody knows for sure what the edge is unlike large casinos that publish that.
DO NOT take a drink every time he says “old school”
Small correction :
I live in NV sports betting is 100% legal
with certain house rules, card counting can be used to tip those 2%.