Should gambling platforms avoid political events? - page 2.

delfastTions

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Quote from: ethereumhunter on November 27, 2024, 10:19:49 AM

Quote from: delfastTions on November 25, 2024, 08:28:54 AM

Political events, such as elections of government representatives, deputies or other officials, in any case have a large audience of interested people, much more than other events of local and regional significance or sports competitions. Therefore, the casino's interest in betting on events in the political sphere will continue to be great. The casino simply benefits from involving a much larger number of players interested in betting in the game.
Sometimes these are even people who, for example, have never bet on sports competitions.
But politics may well interest them to such an extent that they decide to make such bets.

The casino know what is the newest trend globally so they can add that to their bet lists and makes people place their bet. The casino's interest in betting on events will be bigger as they know that can gives them more profit because people will place their bet in the events. Yes, that can also invite people who don't know much about gambling but they comes because of the curiosity and test their knowledge. Many people like to discuss politics because that gives them more information about what may happen if the candidate win.

It is precisely the events in the sphere of politics that have the maximum coverage of the population simply because usually the political processes that these politicians implement after the election have a cardinal effect on the everyday life of the population. And naturally, the interest in such events can be considered mass, universal. And of course, the casino cannot miss its opportunity to earn money on the betting market on political events with such a large coverage of the population and also with such a general interest in the outcome of the elections.

ethereumhunter

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Quote from: delfastTions on November 25, 2024, 08:28:54 AM

Political events, such as elections of government representatives, deputies or other officials, in any case have a large audience of interested people, much more than other events of local and regional significance or sports competitions. Therefore, the casino's interest in betting on events in the political sphere will continue to be great. The casino simply benefits from involving a much larger number of players interested in betting in the game.
Sometimes these are even people who, for example, have never bet on sports competitions.
But politics may well interest them to such an extent that they decide to make such bets.

The casino know what is the newest trend globally so they can add that to their bet lists and makes people place their bet. The casino's interest in betting on events will be bigger as they know that can gives them more profit because people will place their bet in the events. Yes, that can also invite people who don't know much about gambling but they comes because of the curiosity and test their knowledge. Many people like to discuss politics because that gives them more information about what may happen if the candidate win.

delfastTions

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Quote from: viljy on November 26, 2024, 02:42:11 AM

Should betting platforms like Polymarket avoid betting on political events? Probably should be avoided. Because otherwise they can be accused of manipulating public opinion, or even interfering in the political process (for example, elections).
On the other hand, such bets are an opportunity to make good money for the gaming platform. But nevertheless, I believe that the sphere of gambling and betting should stay away from politics. Because this area is traditionally subject to the risks of criminalization, for example, accusations of money laundering. Why else bear additional risks.

But this is a field of activity that, in principle, can provide huge income. For example, simply paying for the service of participating in a specific election of a politician, and one on whom more bets will obviously be made than on his competitors. And the temptation to get big money simply from the fact that the casino will post such a bet on its website is huge. And by the way, in this case, it can also receive money from the election headquarters of the corresponding candidate, that is, from the advertising budget of the election campaign. Well, in principle, such activity is clearly not prohibited by law and is not an offense. So why should the casino refuse such a good way to earn money? Well, it does not refuse. Moreover, in the event of the victory of this candidate, no negative consequences will follow in relation to this casino.

viljy

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Should betting platforms like Polymarket avoid betting on political events? Probably should be avoided. Because otherwise they can be accused of manipulating public opinion, or even interfering in the political process (for example, elections).
On the other hand, such bets are an opportunity to make good money for the gaming platform. But nevertheless, I believe that the sphere of gambling and betting should stay away from politics. Because this area is traditionally subject to the risks of criminalization, for example, accusations of money laundering. Why else bear additional risks.

delfastTions

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Quote from: Solosanz on November 25, 2024, 09:51:27 AM

Why they have to avoid? some casino even list an event to predict someone else death.

I understand betting on political events could affect the public perception before they pick the candidate, but this is gambling, even the candidate is favorite, the underdog can win, just like Trump won the US election.

Yeah, it is absolutely certain that bets influence political events. And when the elections are already over and the elected politician becomes known to everyone, it often turns out that it is the bets and their ratio that are closest to the election results. And for example, I often notice that the published data of all sorts of public opinion polls are almost always not so accurate. This is, of course, connected with the manipulation of public opinion by publishing all sorts of polls and then falsifications in favor of the politician who ordered such polls.
In this sense, bets are probably a much better indicator of public opinion in political elections. And all sorts of statistical agencies cannot be trusted at all.

Solosanz

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Why they have to avoid? some casino even list an event to predict someone else death.

I understand betting on political events could affect the public perception before they pick the candidate, but this is gambling, even the candidate is favorite, the underdog can win, just like Trump won the US election.

delfastTions

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Quote from: ethereumhunter on November 21, 2024, 02:15:05 AM

Quote from: delfastTions on November 20, 2024, 02:56:06 AM

By the way, it is absolutely correct that bets on politicians and political events really do contribute to the dissemination of additional information about candidates in elections, their political platforms, views on public life, and some events in their personal lives. This happens because a person who has made a bet simply begins to look for confirmation of his preferences and, as a rule, something good about the candidate he has bet on is revealed. In this way, he simply learns a lot of new and interesting things. And sometimes he may even change his initial decision to support one or another candidate. All this greatly contributes to both the advertising of candidates and the advertising of the elections themselves and increases the interest of the population in such public events. And increases the turnout of the population at the elections.
So, as a result, we come to the conclusion that bets in casinos on political events are useful for holding elections.

Besides that, when the casino have a list for political events in their betting list and have much attention from people, that will be more profit from the casino. Casino will not let that happens without they taking the benefits so they will promote the events through their social medias and other websites. They want to gain more and more profits from the events so they will update many news to attract more people to bet on their casino.

People should be careful to decide and not just follow other people say because they may not be right with their decision. People needs to analyze and search for more information about the events so they will know what they should pick as their bet. They don't have to place a bet if they can not finds more sources because they may lose their money by picking the wrong choice.

Political events, such as elections of government representatives, deputies or other officials, in any case have a large audience of interested people, much more than other events of local and regional significance or sports competitions. Therefore, the casino's interest in betting on events in the political sphere will continue to be great. The casino simply benefits from involving a much larger number of players interested in betting in the game.
Sometimes these are even people who, for example, have never bet on sports competitions.
But politics may well interest them to such an extent that they decide to make such bets.

goldkingcoiner

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A Bitcoiner chooses. A slave obeys.

I think that anything a person can bet on he/she will bet on.

So there really is not much point in gambling platforms avoiding one event while not avoiding the others.

I am more worried about lobbying. Although we would probably find multiple ways to bet on that as well Roll Eyes

...

Fredomago

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Quote from: dansus021 on November 20, 2024, 01:56:51 AM

This is just regular attack on crypto sites and said that "US person should not allowed trading betting or do anything on non US company" I mean this is aint new there are bunch of Crypto exchange and maybe lot of Defi APp that been called by the US that they should not allowed US citizen to even entry their sites.

Should gambling platforms avoid political events? Hmm i dont know frenn, Nowadays almost all things can be used for gambling, heck life basically is a gamble hahaha. The problem is if you do work on crypto and dont complain to US then you should worry haha

The idea of linking things into gambling, the government manage to find ways and if there's settlement that will be involve then it's an easy money that can be collected as there's rules that being break and you need to work on it to free yourself, we can't deny the fact that there's political attack that may take place as the ruling government loss on that election and they are blaming the site who offers gambling and that amount of bettors might adds up or attracts some of those bettors, though not a proven one as the volumes of those bettors comparing to those who actually votes.

EarnOnVictor

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Quote from: Mahanton on November 17, 2024, 03:24:24 AM

Quote from: EarnOnVictor on November 17, 2024, 02:15:37 AM

Quote from: letteredhub on November 16, 2024, 05:22:43 PM

Quote from: Mahanton on November 14, 2024, 05:44:09 AM

See this one:
Last-minute Legal Ruling Allows Betting On US Election
https://www.barrons.com/news/last-minute-legal-ruling-allows-betting-on-us-election-afdbb600

If the country do allows it, why it would bookies wont be able to do so? Cheesy

If the law backs the extension of betting on general elections in the country then what's the fuse all about except that the present government is just trying to be intimidating as a result of their loss. The US election was a big market for bookies and bookies knew it was really going to sell worldwide due to diverse intersts involved but within and outside the US. There's nothing wrong for people to make predictions about what the election outcome could be and still nothing bad too that it got on the bookies for people to try their luck and earn money from it.

Bookies have 100% right in any country where gambling is permitted. You know what? People like to infer something into nothing, which is wrong, anywhere an activity is happening, gambling may take place. This is regardless of whether is political, educational etc, so long as there is an event that could resort to either outcome, any individual, group or organisation can arrange a gamble, so the US election is not any different. Despite many elections even happening all around the world, for bookies to deem it necessary to allow the US election shows its importance to the industry which is not any different to many other reasons they offer their service.

legal ruling allows betting on US election. Why would really be needing up to be avoided? Just like on what everyone is saying on here is that we dont see anything wrong with these events on which it isnt really just that limited to elections itself but also in other popular stuffs as well.

If you understand how the US trading, investing and gambling environment works in relation to the regulators, you will realise the regulator could be overbearing. This is not different from what the SEC did against Bitcoin and others, but to what avail? They will always fail in this situation because the legal battle is not even called for. These are the guys who are chasing their shadows and want to control everything despite gambling being lawful in the land. These regulators are just unnecessarily heating the polity, don't take them seriously, and that's why they will continue failing in such quests in court.

ethereumhunter

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Quote from: delfastTions on November 20, 2024, 02:56:06 AM

By the way, it is absolutely correct that bets on politicians and political events really do contribute to the dissemination of additional information about candidates in elections, their political platforms, views on public life, and some events in their personal lives. This happens because a person who has made a bet simply begins to look for confirmation of his preferences and, as a rule, something good about the candidate he has bet on is revealed. In this way, he simply learns a lot of new and interesting things. And sometimes he may even change his initial decision to support one or another candidate. All this greatly contributes to both the advertising of candidates and the advertising of the elections themselves and increases the interest of the population in such public events. And increases the turnout of the population at the elections.
So, as a result, we come to the conclusion that bets in casinos on political events are useful for holding elections.

Besides that, when the casino have a list for political events in their betting list and have much attention from people, that will be more profit from the casino. Casino will not let that happens without they taking the benefits so they will promote the events through their social medias and other websites. They want to gain more and more profits from the events so they will update many news to attract more people to bet on their casino.

People should be careful to decide and not just follow other people say because they may not be right with their decision. People needs to analyze and search for more information about the events so they will know what they should pick as their bet. They don't have to place a bet if they can not finds more sources because they may lose their money by picking the wrong choice.

knowngunman

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Quote from: Fiatless on November 14, 2024, 03:36:21 AM

Most people think that this attack was because the government thinks that Polymaket's polls that showed overwhelming support for Donald Trump contributed to his victory.

Who are the people that think this way? I really don't understand why government officials think out of box sometimes and looking for excuses where there is none.

Let me try to translate this to sport language. San Marino team (mostly believed to be the worst team in the world or in the Europe) play and won against Real madrid (a team with the most valuable squad in the world). The reason for this is because majority of gamblers staked on San Marino to win and this influence the outcome of the match. How does this sound to ears please? Very irrational right Grin

that's exactly what government were trying to say.

Quote

Do you think gambling platforms should avoid political events?

Gambling platform only offers the users to predict and place a bet on political events. They do not have power to influence election outcome. In fact, majority of people who stake on some of this political events are not citizens of where the events is happening. How on earth their prediction affect elections outcome?

delfastTions

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Quote from: ethereumhunter on November 19, 2024, 09:44:41 PM

Quote from: delfastTions on November 19, 2024, 02:53:17 AM

The topic of betting on the election results will certainly be discussed and of course there is some influence of these bets themselves on public opinion in relation to one or another candidate. In this context, it is quite possible to consider betting on politicians and on the election results as an additional element of advertising and even as a tool for manipulating the electorate.
And it would be strange if politicians in their advertising campaigns did not use such a rather powerful and convincing tool for undecided voters to the fullest extent. And so it is used almost everywhere, even in small local elections.
.....

Many people will like to compares what is the positive and negative of each candidate and that makes them interest to know more about the candidates. We can join them to discuss and talk about the candidates so that can bring us more knowledge which will help us to analyze more about the candidate so we can know who will be the winner. It will be more interesting if we can get much information for the election and we can also place our betting using those people prediction if we see in our analysis, their prediction have a chance to wins.

The casino gives them a place to bet so the casino will still gives a political betting to their members because that means a lot to the casino. That will be their profit if many people place their bet especially for those who bet using a big money.

By the way, it is absolutely correct that bets on politicians and political events really do contribute to the dissemination of additional information about candidates in elections, their political platforms, views on public life, and some events in their personal lives. This happens because a person who has made a bet simply begins to look for confirmation of his preferences and, as a rule, something good about the candidate he has bet on is revealed. In this way, he simply learns a lot of new and interesting things. And sometimes he may even change his initial decision to support one or another candidate. All this greatly contributes to both the advertising of candidates and the advertising of the elections themselves and increases the interest of the population in such public events. And increases the turnout of the population at the elections.
So, as a result, we come to the conclusion that bets in casinos on political events are useful for holding elections.

dansus021

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This is just regular attack on crypto sites and said that "US person should not allowed trading betting or do anything on non US company" I mean this is aint new there are bunch of Crypto exchange and maybe lot of Defi APp that been called by the US that they should not allowed US citizen to even entry their sites.

Should gambling platforms avoid political events? Hmm i dont know frenn, Nowadays almost all things can be used for gambling, heck life basically is a gamble hahaha. The problem is if you do work on crypto and dont complain to US then you should worry haha

romero121

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Every business has a connection with the politics. To run a business, the organisation used to go with the favour of the ruling government. This is the common practice followed all around the world. With the polymarket issue, the predictions of the respective platforms have come true, and that has led to the raid on the CEO. This is done with political intention. Just for this reason, we can't avoid political events getting listed on gambling platforms. There will be different people following different leaders, and they'll be having differences of opinion. Same as what a leader does through an election testing his chance of winning, the common man does it through bets. This is fair as it has all the factors the same as what we have in a sports event.

mammusu

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Quote from: Oasisman on November 19, 2024, 03:53:12 AM

Quote from: Fiatless on November 14, 2024, 03:36:21 AM

Do you think gambling platforms should avoid political events?

Yes! Definitely! And gambling platforms should also avoid any political relations between any politicians as it may result to this kind of incident.
Gambling related businesses are easier to find mistakes with in terms of compliance and regulations than any other business models. One perfect example is when gamblers are using VPN to bypass prohibited gambling platform. So, that's the main reason why authorities can easily implement raids as well.

What happened to the CEO of Polymarket should be an experience for other gambling platforms not to get involved at all in politics which is indeed quite cruel, in my opinion, it is important for gambling platforms to always maintain the integrity and reputation of their business, because getting involved in politics can bring additional risks and controversies that may not be desirable and will obviously destroy the business later if their political opponents win, especially now the gambling industry is a controversial business and is often under strict scrutiny regarding compliance and exist regulations, so that it can become a weapon used by political opponents.

ethereumhunter

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Quote from: delfastTions on November 19, 2024, 02:53:17 AM

The topic of betting on the election results will certainly be discussed and of course there is some influence of these bets themselves on public opinion in relation to one or another candidate. In this context, it is quite possible to consider betting on politicians and on the election results as an additional element of advertising and even as a tool for manipulating the electorate.
And it would be strange if politicians in their advertising campaigns did not use such a rather powerful and convincing tool for undecided voters to the fullest extent. And so it is used almost everywhere, even in small local elections.
Besides that, sometimes betting on political can makes many people discuss on the chance for every candidates so they can analyze more to find which candidate that have bigger potential to wins than the other candidates. But yes, people needs to have more knowledge about each candidate so they can make an analysis for each. Casinos will not want to let that without providing the bet for people who wants to bet on political events so they will promote that they have a list on some political events. Betting on the President election can attract many people to bet so that will be more profit for the casino.

Many people will like to compares what is the positive and negative of each candidate and that makes them interest to know more about the candidates. We can join them to discuss and talk about the candidates so that can bring us more knowledge which will help us to analyze more about the candidate so we can know who will be the winner. It will be more interesting if we can get much information for the election and we can also place our betting using those people prediction if we see in our analysis, their prediction have a chance to wins.

The casino gives them a place to bet so the casino will still gives a political betting to their members because that means a lot to the casino. That will be their profit if many people place their bet especially for those who bet using a big money.

mck3nzie

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Quote from: Fiatless on November 14, 2024, 03:36:21 AM

FBI raided the home of Shayne Coplan the chief executive of the predictive betting site Polymarket. He was instructed to give the agents his phone and other electronic gadgets. Polymaket felt that this raid was a retaliation by the Joe Biden administration for the betting platform's accurate predictions of the outcome of the elections.

But the Department of Justice claimed that Polymarket is under investigation for allegedly allowing US-based users to bet on the site. Polymarket doesn't have permission to operate bets and predictions in the US but users usually invade the prohibition using VPNs.

Elon Musk and Brian Armstrong have both criticised this raid calling it an attack on political opponents of the present administration. Most people think that this attack was because the government thinks that Polymaket's polls that showed overwhelming support for Donald Trump contributed to his victory.

Do you think gambling platforms should avoid political events?

https://www.[Suspicious link removed]s/amp.theguardian.com/technology/2024/nov/13/fbi-raid-polymarket-founder-trump-election

I think there is nothing wrong with this, there is a demand for it, people like to bet on something other than sports. I don't see anything criminal in it.

CryptSafe

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Quote from: Oasisman on November 19, 2024, 03:53:12 AM

Quote from: Fiatless on November 14, 2024, 03:36:21 AM

Do you think gambling platforms should avoid political events?

Yes! Definitely! And gambling platforms should also avoid any political relations between any politicians as it may result to this kind of incident.
Gambling related businesses are easier to find mistakes with in terms of compliance and regulations than any other business models. One perfect example is when gamblers are using VPN to bypass prohibited gambling platform. So, that's the main reason why authorities can easily implement raids as well.

Actually, the issue of using VPN was the real issue and that was why the government were able to raid and arrest the Polymarket CEO for going against the laws by allowing Americans to vote on the Presidential election. The truth is that the people who did vote on the election in the US used VPN to bypass protocols and it is not the fault of the Polymarket CEO or team but however, this goes to show that the government can not dictate for her citizens to do whatever they want. The era of decentralization is here and everybody who is fully aware of it has already began to take advantage of it which the government is fully against and wants to keep regulating the process so they could keep taking from the system.

Promocodeudo

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Quote from: uneng on November 16, 2024, 05:25:14 PM

I don't think so. And to avoid persecution from authorities isn't a good reason for betting platforms to remove political events from their websites, as it smells like censorship. In fact, there is no reason to avoid offering bets on political events. People have the right to launch their guesses on political events as they wish.

On the other hand, what should be fought back are people who have access to privileged informations, while using such informations to have unfair advantage compared to another gamblers. That is cheating and compromises the legitimacy of betting ecosystem.

You're right on this and I totally agree with your statement, if a gambling platform has nothing to hide, why can't they put political events in their platform, they bets placed by individuals doesnt decide who wins the election or whatever so for me avoiding this political events in gambling even calls for questioning of such gambling platform though it's there decision to make but avoiding it isn't a good option per say.

Yea exactly this is also normal prediction like soccer events and all the rest and I think this will even make gambling look more interesting because there are people that like politics and I think this will create a chance for them to showcase what they got in terms of predicting who may likely be the winners of the said elections.
But let's face the fact, if this is been included in gambling companies that operatea in some African countries where people already know who will be there president, governors and some other elective positions based on lack of transparency in their elcetoral system, this may lead the gambling companies involved in losing a lot of money because the people may guess right based on the usual events that keep recurring in those areas.

Topic: Should gambling platforms avoid political events? - page 2. (Read 1361 times)