Inside Polymarket's paid quote-retweet esports program
readergrev.com
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I feel like there's been a growing, dark underbelly of gambling addiction since it was legalized online. And it's going to be difficult to walk it back.
(the ones that truly blow my mind are the promo ads for people gambling on buying mystery collectible cards then virtually "ripping" the pack open. Grown adult men paying hundreds of dollars! Absolutely wild.)
Sounds just like a lot of NFTs.
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.
There was a NY Times article a while back that talked about why Gen Z is so into gambling: they feel the system is so rigged against them that traditional strategies to get safety and security (e.g. get a good job, save, buy a house, etc.) don't work anymore. So they either give up (and focus on short-term consumption) or throw their money at long shots like gambling and crypto, hoping for a jackpot.
> 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.
That is the truth. They don't generate any wealth, they exist to take a cut on people transferring money unproductively.
Economic Nihilism in Card Games https://mtg.cardsrealm.com/en-us/articles/economic-nihilism-...
No, you don’t. You have a hypothesis.
And since it’s based in social psychology, it’s empirically unfalsifiable, so it can honestly never be a theory at all.
Good day.
No need to be abstract and theoretical about it; it's how the trickle down economy works.
Boomers and GenX are the ones foisting that reality on them; GenZ is pushing the buttons supply side is providing
Stop talking in vague abstractions. We know this is 100% top down driven self selected interpretations of historical documents by the elders in charge of political interpretations
That's your one-two punch right there. On Instagram, and viewing ads. Best thing to do is avoid both.
At least you get actual ads, not a feed full of Twitter and 4chan screenshots overlaid with SKARS AI slop music and wrapped at the top and bottom by a casino ad.
You can check by looking up tweets from their account IDs. I think it’s possible they may have even left up the old tweets if you scroll back far enough.
I have seen it politically and part of shady marking. I read the girlsgamer sub on reddit and I remember a big influx of "I'm a woman and I support (current game with sexist elements)." Back then you could see everyone's post and comment history. You could see these accounts went quiet a year or two or three ago and their history was very male coded, then came back on-line recently pushing culture-war narratives and describing themselves very differently than their original posts and comments.
I also saw the same thing with some suspicious right-wing posts on some political subs I'm on. Just an old account that had little to no political posting history suddenly coming alive and posting non-stop politics.
I find it interesting and suspicious reddit only started allowing hidden profiles after this and when people started pointing this out.
I think its safe to say all social media is badly compromised and gamed by monied interests.
> Prediction markets are PVP thats the way i look at it
This is true but people should at least be informed that the overwhelming majority of trading volume is HFT firms with faster access to data and the prediction markets than you. These firms pay the prediction markets for that access, and the losses that happen on prediction markets flow to these few large HFT shops.
> use of the Polymarket site (the “Polymarket Site”) for trading activities, by persons or entities who are U.S. persons (“U.S. Persons”), as defined in the enclosed Appendix, is strictly prohibited, with no exceptions
If you’re betting/trading on sports (80% prediction market activity by volume, you are 100% up against Susquehanna. Doubly so if you’re predicting combos because there is not nearly enough liquidity.
There are multiple parties involved when you place a trade on a prediction market and all of them get paid.
I’m not stating that there’s no market a relatively unsophisticated investor can take advantage of just pushing back on the idea that PMs are PvP
Can't speak to prediction markets, haven't touched 'em.
At the end of the summer I dipped my toe in Polymarket while watching the US Open (the only sporting event that interest me). In a week and I half I nearly lost 2 months salary. Found myself up at 3AM betting not just on tennis, but also on random sports that seemed like a “sure thing.” And not just on Polymarket, but Kalshi too.
The dark patterns involved in prediction markets are real and terrifying. Washed my hands of that, but woof.
Bummer that tables on the strip in Vegas have such high minimums. Couldn’t even get myself to play one hand on them (but losing $500 in a matter of minutes on Kalshi or Polymarket seemed like nothing)
> The 50 Cent Party, also known as the 50 Cent Army or wumao (/ˈwuːmaʊ/; from Chinese: 五毛; lit. 'five dimes'), are Chinese government employees posting online comments to divert public attention or promote positive sentiment.
> ...
> The name "50 Cent Party" is derived from claims that government hired commentators are reportedly paid RMB¥0.50 (5 jiao) for every post in order to shape public opinion in ways favorable towards Chinese Communist Party (CCP) policies.[1][5][6]
So basically paid shills.
A study published in 2017 points out that almost everything known about the 50 Cent Party in the past had been wrong. Most combative posts and commentators attributed to the 50 Cent Party were instead linked to private nationalistic individuals.
What do you mean? I posted the minimum amount to explain an unfamiliar term. I wasn't going to quote the whole article.
> So the term became a misnomer.
What's your point? Shilling doesn't have to be combative.
is there a justification for it not being illegal?