Measuring the Impact of Gambling Affiliates in My Social Media
The Rise of Speculative Wealth Traps
Before diving into this post, I want to clarify my specific beliefs regarding sports betting and prediction markets. In a vacuum, I have no moral qualms with the principle of gambling. I’ve certainly laid down some sports bets while in Las Vegas. That said, I do not play daily fantasy sports (DFS) or engage in any sort of online betting or prediction markets. Mirroring many of my thoughts regarding social media, I personally feel that unfettered online access to the dopamine hits of gambling is deeply unhealthy for the human psyche. In addition, I believe that the potential for sudden personal wealth via highly speculative risks (much like cryptocurrencies) attracts so many willing participants due to the rapidly vanishing middle class and the increasing scarcity of quality job opportunities. As the already massive global wealth inequality continues to widen, I view these as yet another transfer of capital from the middle and lower classes back to corporations and executives. As a diehard sports fan, I am also profoundly disappointed at how intertwined sports media and betting have become. People today simply cannot watch any sports coverage without being bombarded with online betting ads. In fact, I fear that new sports fans are now unable to distinguish between betting and the sports themselves. Kids and teenagers today only know betting to be woven into the very fabric of sports.
