Okay, why does it seem like everyone has gone gambling crazy in the past few years? Cryptocurrency, sports betting, future events betting, meme stocks, etc. People I know who’ve never set foot in a casino are now dropping triple or quadruple digits on all sorts of reckless shit. Even my wife has gotten into it. Was it always this way and I somehow never noticed or has something changed in the culture?
Personal opinion with absolutely no evidence to back it up: because people are more and more desperate, especially about money. There is nothing left to look forward to for the poor and lower class except the hope of a quick fix / windfall. Everything is expensive, they’re barely making it paycheck to paycheck, these few dollars aren’t going to make a difference either way, why not just go for big money?
They can’t afford to have kids, they can’t afford a house, they can’t afford a nice meal in a restaurant every once in a while, and they have no safety net of savings or even parents with a house they can live in to get them through an emergency. The only way out is money and lots of it. It’s this or the lottery.
I keep saying “they,” but all it would take is a job loss for most of the US to be right there, including me.
It’s like an easier get rich quick scheme, and they can do it all from their phone.
As you said they’ve never stepped foot in a casino, because that would imply having to go somewhere. Same for the bookie, a stock broker, crypto exchange etc…
Cryptocurrency, sports betting, future events betting, meme stocks, etc.
“Get rich quick” schemes aren’t new, but the information age quickly debunks them so they don’t have traction very long. This leaves the same “market” for people that are trying to get rich quick or with little effort. Legalized betting has made casual gambling social acceptable, and there are ready examples of people that have successfully gotten-rich-quick with crypto or meme stocks. The problem with this for most people is they don’t understand survivorship bias. The successful crypto-bros driving a McLaren and living in a multi-million dollar Miami penthouse aren’t the rule, but the exception. Behind them are thousand (millions?) of greater fools that tried to do the same thing and lost everything.
@[email protected] also rightfully pointed out the increasing levels of desperation of the working class. 40 years ago people would dream about what they’d do if they won the Publisher’s Clearinghouse $10m sweepstakes, but then return to reality that their future would require them to work and save for a comfortable life and retirement. These days most are carrying massive levels of debt well into middle age and even retirement years and have little to nothing saved. They’re staring down the barrel of their bodies failing from age, a paltry future income from Social Security, rising housing and food costs, and no solution besides hitting a jackpot.
Okay, why does it seem like everyone has gone gambling crazy in the past few years? Cryptocurrency, sports betting, future events betting, meme stocks, etc. People I know who’ve never set foot in a casino are now dropping triple or quadruple digits on all sorts of reckless shit. Even my wife has gotten into it. Was it always this way and I somehow never noticed or has something changed in the culture?
Sports betting has become less illegal in the US. This is a major part of it.
Personal opinion with absolutely no evidence to back it up: because people are more and more desperate, especially about money. There is nothing left to look forward to for the poor and lower class except the hope of a quick fix / windfall. Everything is expensive, they’re barely making it paycheck to paycheck, these few dollars aren’t going to make a difference either way, why not just go for big money?
They can’t afford to have kids, they can’t afford a house, they can’t afford a nice meal in a restaurant every once in a while, and they have no safety net of savings or even parents with a house they can live in to get them through an emergency. The only way out is money and lots of it. It’s this or the lottery.
I keep saying “they,” but all it would take is a job loss for most of the US to be right there, including me.
It’s like an easier get rich quick scheme, and they can do it all from their phone.
As you said they’ve never stepped foot in a casino, because that would imply having to go somewhere. Same for the bookie, a stock broker, crypto exchange etc…
“Get rich quick” schemes aren’t new, but the information age quickly debunks them so they don’t have traction very long. This leaves the same “market” for people that are trying to get rich quick or with little effort. Legalized betting has made casual gambling social acceptable, and there are ready examples of people that have successfully gotten-rich-quick with crypto or meme stocks. The problem with this for most people is they don’t understand survivorship bias. The successful crypto-bros driving a McLaren and living in a multi-million dollar Miami penthouse aren’t the rule, but the exception. Behind them are thousand (millions?) of greater fools that tried to do the same thing and lost everything.
@[email protected] also rightfully pointed out the increasing levels of desperation of the working class. 40 years ago people would dream about what they’d do if they won the Publisher’s Clearinghouse $10m sweepstakes, but then return to reality that their future would require them to work and save for a comfortable life and retirement. These days most are carrying massive levels of debt well into middle age and even retirement years and have little to nothing saved. They’re staring down the barrel of their bodies failing from age, a paltry future income from Social Security, rising housing and food costs, and no solution besides hitting a jackpot.