Sports betting

[Obliviax]

there have been some threads on how dangerous this is and we are now starting to see the fruits of our actions. We are starting to see some responsible people speaking out.

Cavs Coach, JB Bickerstaff

“No doubt it’s crossed the line,” Bickerstaff said. “I’m standing up there and we may have a 10-point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread. It’s ridiculous. I understand the business side of it and the nature of the business of it. But it’s something I believe has gone too far.”​

​

Miami Heat coach Erik Spoelstra had a similar view about the security concerns that come with sports gambling.​

​

“I do think it’s somewhat contradictory,” Spoelstra said before tipoff Wednesday night. “I think it treads on a weird line. We had an incident behind our bench last year with (Victor) Oladipo. Somebody was screaming. Security had to take him away. The game was already over, and evidently, he didn’t shoot an open 3 at the end of the game. The game was already decided, and this fan was totally beside himself, and he was a gambler. He had money on whatever the score was. There’s just a lot of unintended consequences with that from a security standpoint that I’m not sure everybody totally understood.”​

 

[bison13]

The amount if HS kids who gamble these days is incredible. I heard a kid maybe 17 years old ask his friend at lunch today if he thought Duquesne or BYU would score first. He was going to bet on who scored the first basket and some other props in the game

 

[Jerry]

there have been some threads on how dangerous this is and we are now starting to see the fruits of our actions. We are starting to see some responsible people speaking out.

Cavs Coach, JB Bickerstaff

“No doubt it’s crossed the line,” Bickerstaff said. “I’m standing up there and we may have a 10-point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread. It’s ridiculous. I understand the business side of it and the nature of the business of it. But it’s something I believe has gone too far.”​

​

Miami Heat coach Erik Spoelstra had a similar view about the security concerns that come with sports gambling.​

​

“I do think it’s somewhat contradictory,” Spoelstra said before tipoff Wednesday night. “I think it treads on a weird line. We had an incident behind our bench last year with (Victor) Oladipo. Somebody was screaming. Security had to take him away. The game was already over, and evidently, he didn’t shoot an open 3 at the end of the game. The game was already decided, and this fan was totally beside himself, and he was a gambler. He had money on whatever the score was. There’s just a lot of unintended consequences with that from a security standpoint that I’m not sure everybody totally understood.”​

Those scenes bring to mind an indelible memory from my youth. It was the 1968 Penn State-Syracuse game. I watched it on television with my Dad, a Penn State grad, who had bet on his beloved Lions as a big favorite...I don't know, something in the 14-17 point range if I recall correctly.

Penn State totally dominated the first 3 quarters of the game, running out to a 30-0 lead and cruising toward certain victory. Then in the 4th quarter, Joe did his Joe thing, took out the starters, and Syracuse promptly mounted a comeback. Of course they never had a chance to win, but it suddenly and improbably started to look like they might have a chance to ruin the afternoon of anyone who had laid the points.

So Syracuse marches down the field and scores, goes for two and fails...now it's 30-6. Penn State had basically stopped playing offense so Syracuse quickly got the ball back...marches down the field again to score...and again miss the 2-point conversion. Now it's 30-12 and Dad is absolutely stroking out...screaming at the television set and cursing Paterno.

Fortunately, the tale has a happy ending, as the game ended with Syracuse in possession of the ball but lacking the time to mount yet a 3rd consecutive scoring drive. Final: 30-12. But this was the chance you always took when betting Penn State as a big favorite during Joe's tenure.

 

[NJPSU]

there have been some threads on how dangerous this is and we are now starting to see the fruits of our actions. We are starting to see some responsible people speaking out.

Cavs Coach, JB Bickerstaff

“No doubt it’s crossed the line,” Bickerstaff said. “I’m standing up there and we may have a 10-point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread. It’s ridiculous. I understand the business side of it and the nature of the business of it. But it’s something I believe has gone too far.”​

​

Miami Heat coach Erik Spoelstra had a similar view about the security concerns that come with sports gambling.​

​

“I do think it’s somewhat contradictory,” Spoelstra said before tipoff Wednesday night. “I think it treads on a weird line. We had an incident behind our bench last year with (Victor) Oladipo. Somebody was screaming. Security had to take him away. The game was already over, and evidently, he didn’t shoot an open 3 at the end of the game. The game was already decided, and this fan was totally beside himself, and he was a gambler. He had money on whatever the score was. There’s just a lot of unintended consequences with that from a security standpoint that I’m not sure everybody totally understood.”​

I just saw a tweet this week that showed one of the ESPN subscriptions was showing a split screen with the game on one side and live betting odds on the other.

The genie is out of the bottle.

 

[Nbergbuck]

there have been some threads on how dangerous this is and we are now starting to see the fruits of our actions. We are starting to see some responsible people speaking out.

Cavs Coach, JB Bickerstaff

“No doubt it’s crossed the line,” Bickerstaff said. “I’m standing up there and we may have a 10-point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread. It’s ridiculous. I understand the business side of it and the nature of the business of it. But it’s something I believe has gone too far.”​

​

Miami Heat coach Erik Spoelstra had a similar view about the security concerns that come with sports gambling.​

​

“I do think it’s somewhat contradictory,” Spoelstra said before tipoff Wednesday night. “I think it treads on a weird line. We had an incident behind our bench last year with (Victor) Oladipo. Somebody was screaming. Security had to take him away. The game was already over, and evidently, he didn’t shoot an open 3 at the end of the game. The game was already decided, and this fan was totally beside himself, and he was a gambler. He had money on whatever the score was. There’s just a lot of unintended consequences with that from a security standpoint that I’m not sure everybody totally understood.”​

Sports gambling became legal in Ohio a while back Not sure exactly when, I do not gamble. Look for a big increase in divorce, domestic violence, bankruptcies etc. etc. A terrible idea.

 

[knickslions]

Sports gambling became legal in Ohio a while back Not sure exactly when, I do not gamble. Look for a big increase in divorce, domestic violence, bankruptcies etc. etc. A terrible idea.

Started January 1, 2023 in Ohio. I enjoy it but I’m old

 

[Kasparaitis]

And I took criticism for advising (young) people not to waste their money but invest it. The sad reality is many people waste their money and most people do not invest properly. Hence the multi-billion dollar gambling industry and the sorry statistics on underfunded retirement accounts. We have free will and gambling can be fun but it’s gone way beyond entertainment now.

 

[Kasparaitis]

Here's a little projection I did when I graduated undergrad many moons ago. 11% is the average S&P return for context. I have remained well above the highest projection since, although I started by investing a much higher amount with my first real job.

I used to build this spreadsheet in front of students in like 2 minutes before class when I taught physics at a top 10 university. I just asked them what they thought they could contribute when they had their first job.

Some assumptions/simplifications of the chart: $5000 contribution annually. Compounding annually. Takes only a few seconds to modify annual contributions or expected returns. The rest is clicking and dragging the formulas.

You can win the lottery with a very high probability. You just have to do it slowly and methodically. Market returns against inflation aren't likely to remain as bad as they have been the past few years. A return to the historical norms eventually is more likely.

AGE	8% Return	10% Return	12% Return
22​	$5,000​	$5,000​	$5,000​
23​	$10,400​	$10,500​	$10,600​
24​	$16,232​	$16,550​	$16,872​
25​	$22,531​	$23,205​	$23,897​
26​	$29,333​	$30,526​	$31,764​
27​	$36,680​	$38,578​	$40,576​
28​	$44,614​	$47,436​	$50,445​
29​	$53,183​	$57,179​	$61,498​
30​	$62,438​	$67,897​	$73,878​
31​	$72,433​	$79,687​	$87,744​
32​	$83,227​	$92,656​	$103,273​
33​	$94,886​	$106,921​	$120,666​
34​	$107,476​	$122,614​	$140,146​
35​	$121,075​	$139,875​	$161,963​
36​	$135,761​	$158,862​	$186,399​
37​	$151,621​	$179,749​	$213,766​
38​	$168,751​	$202,724​	$244,418​
39​	$187,251​	$227,996​	$278,749​
40​	$207,231​	$255,795​	$317,198​
41​	$228,810​	$286,375​	$360,262​
42​	$252,115​	$320,012​	$408,494​
43​	$277,284​	$357,014​	$462,513​
44​	$304,466​	$397,715​	$523,014​
45​	$333,824​	$442,487​	$590,776​
46​	$365,530​	$491,735​	$666,669​
47​	$399,772​	$545,909​	$751,670​
48​	$436,754​	$605,500​	$846,870​
49​	$476,694​	$671,050​	$953,494​
50​	$519,830​	$743,155​	$1,072,914​
51​	$566,416​	$822,470​	$1,206,663​
52​	$616,729​	$909,717​	$1,356,463​
53​	$671,068​	$1,005,689​	$1,524,239​
54​	$729,753​	$1,111,258​	$1,712,147​
55​	$793,133​	$1,227,383​	$1,922,605​
56​	$861,584​	$1,355,122​	$2,158,317​
57​	$935,511​	$1,495,634​	$2,422,316​
58​	$1,015,352​	$1,650,197​	$2,717,993​
59​	$1,101,580​	$1,820,217​	$3,049,153​
60​	$1,194,706​	$2,007,239​	$3,420,051​
61​	$1,295,283​	$2,212,963​	$3,835,457​
62​	$1,403,905​	$2,439,259​	$4,300,712​
63​	$1,521,218​	$2,688,185​	$4,821,797​
64​	$1,647,915​	$2,962,003​	$5,405,413​
65​	$1,784,748​	$3,263,204​	$6,059,063​
66​	$1,932,528​	$3,594,524​	$6,791,150​
67​	$2,092,130​	$3,958,977​	$7,611,088​
68​	$2,264,501​	$4,359,874​	$8,529,419​
69​	$2,450,661​	$4,800,862​	$9,557,949​
70​	$2,651,714​	$5,285,948​	$10,709,903​
71​	$2,868,851​	$5,819,543​	$12,000,091​
72​	$3,103,359​	$6,406,497​	$13,445,102​
73​	$3,356,628​	$7,052,147​	$15,063,514​
74​	$3,630,158​	$7,762,361​	$16,876,136​
75​	$3,925,570​	$8,543,597​	$18,906,273​

I also taught evening business administration classes as an adjunct at a half dozen colleges including a PSU branch campus. I always presented something similar to every class. Over 20 years I had at least one student at the end of every semester, usually more than one, who provided feedback that I was the best instructor they ever had. Interestingly, I sometimes also had someone basically say, you suck, on the student evaluations as well.

 

[LionDeNittany]

there have been some threads on how dangerous this is and we are now starting to see the fruits of our actions. We are starting to see some responsible people speaking out.

Cavs Coach, JB Bickerstaff

“No doubt it’s crossed the line,” Bickerstaff said. “I’m standing up there and we may have a 10-point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread. It’s ridiculous. I understand the business side of it and the nature of the business of it. But it’s something I believe has gone too far.”​

​

Miami Heat coach Erik Spoelstra had a similar view about the security concerns that come with sports gambling.​

​

“I do think it’s somewhat contradictory,” Spoelstra said before tipoff Wednesday night. “I think it treads on a weird line. We had an incident behind our bench last year with (Victor) Oladipo. Somebody was screaming. Security had to take him away. The game was already over, and evidently, he didn’t shoot an open 3 at the end of the game. The game was already decided, and this fan was totally beside himself, and he was a gambler. He had money on whatever the score was. There’s just a lot of unintended consequences with that from a security standpoint that I’m not sure everybody totally understood.”​

The legalization of sports gambling also has seemed to dull the entire brackets idea for March Madness.

It was one of the few times people could abd would gamble.

Now they have money on every game if they care.

LdN

 

[knickslions]

The legalization of sports gambling also has seemed to dull the entire brackets idea for March Madness.

It was one of the few times people could abd would gamble.

Now they have money on every game if they care.

LdN

Ya I don’t know who I even picked in brackets with betting all the games.