I have a theory that the prevalence of gambling, trading, and investing is a natural response to wealth inequality and automation. Wealth has always correlated with risk (e.g. business ownership) but as the prospects for wealth diminish, the amount of risk people are willing (forced?) to take on grows.
An optimistic view could be that in a future where AI drives most of GDP and UBI covers basic needs, well-regulated betting marketplaces could provide an opportunity for people to get ahead (or at least do something) for example by developing algorithms and AIs that do rigorous backtesting and apply institutional-grade risk management strategies.
The pessimistic view is that these marketplaces are just another cause of wealth inequality, they will always extract more wealth than they generate, and there is no place for them in a balanced, healthy economy.
An optimistic view could be that in a future where AI drives most of GDP and UBI covers basic needs, well-regulated betting marketplaces could provide an opportunity for people to get ahead (or at least do something) for example by developing algorithms and AIs that do rigorous backtesting and apply institutional-grade risk management strategies.
The pessimistic view is that these marketplaces are just another cause of wealth inequality, they will always extract more wealth than they generate, and there is no place for them in a balanced, healthy economy.