Is it bad for society? It's certainly bad for individuals, and by extension their families. I guess if it scales up such that a serious chunk of society is affected, then yes its bad for society.
Let's start with the obvious- in all forms of gambling the gamblers make a net loss. The games are hosted by very sophisticated companies, that have better mathematicians, and make money.
$x is pumped into the system by the punters, $y is extracted, $z is returned. The 'house' is the only winner.
All those TV ads you see? Funded by losers.
Is it light entertainment? Similar to the cost of a ticket to the game? For some sure. But we understand the chemistry of gambling- it's addictive and compulsive.
If we agree it's generally bad, then what? Lots of things are known to be bad, but are still allowed (smoking and drinking spring to mind, nevermind sugar.)
It could be banned. Would that stop it? Probably not. Perhaps ban advertising? Perhaps tax gambling companies way higher (like we do with booze and smokes.) Perhaps treat it as a serious issue?
All of which is unlikely in the US. Business rules, and sports gambling us really good business.
Let's start with the obvious- in all forms of gambling the gamblers make a net loss. The games are hosted by very sophisticated companies, that have better mathematicians, and make money.
$x is pumped into the system by the punters, $y is extracted, $z is returned. The 'house' is the only winner.
All those TV ads you see? Funded by losers.
Is it light entertainment? Similar to the cost of a ticket to the game? For some sure. But we understand the chemistry of gambling- it's addictive and compulsive.
If we agree it's generally bad, then what? Lots of things are known to be bad, but are still allowed (smoking and drinking spring to mind, nevermind sugar.)
It could be banned. Would that stop it? Probably not. Perhaps ban advertising? Perhaps tax gambling companies way higher (like we do with booze and smokes.) Perhaps treat it as a serious issue?
All of which is unlikely in the US. Business rules, and sports gambling us really good business.