alt Hacker NewsAddictions are irrational and anyone can fall prey to them, people here are no exception. The only difference between a poor, uneducated gambler and a well-off, educated gambler is how they talk about it, how much they can afford to bet, and which games of chance they lose at.
Beyond that however I agree that turning this loose on the American public is an incredibly short-sighted act, but it's part of a pattern rather than an outlier.
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jay_kyburz • yesterday at 11:32 PM
Yeah, I'm no gambler, but I do have a hundred grand and countless hours invested in a business I'm trying to make work.
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Are they? If in Australia you walk into one of those gambling places, you'll quickly see those people have no real economic future, with or without gambling. They're not part of a large family either. They don't have or have lost their spouse and are just looking for some fun. They will live at or just above the level that social assistance can let them live until they die, and a bankruptcy due to gambling will make surprisingly little difference (hell, it may allow them not to work for a decade).
So rationality? You're assuming there's good options available for these people. But if they don't own a home ... they won't lose much, and their careers provide them with little to gain month to month.
Isn't it rational under those circumstances to try to get quick large reward ... or fail entirely? When you have no real other options and even arguably little to lose?
The time when being a non-educated worker in a big city would get you a house, a family, and pretty good comfort, enabling ordering 5 beers most evenings in a pub, have a hobby, ... has long ended, at least in Australia.