afavour
4 hours ago
My Instagram ads are just filled with Polymarket, Kalshi, brand name casinos... it's endless. It's all low level influencers talking about how much money they're making, how you can bet (and yes, it is betting) any time you have 30 seconds to spare, how easy it makes it all.
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.)
Avicebron
4 hours ago
Gambling and betting always seem target explotation of people who aren't well off already. Like lottery tickets I worry that Polymarket, Kalshi and the like are ways to further destroy the marginal in an apathetic if not malign political environment. It doesn't seem like anyone is doing anything about it.
kokanee
4 hours ago
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.
10111001
4 hours ago
> 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.
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.
huvarda
3 hours ago
The optimistic view where everyone is poor, on UBI, and forced to gamble as an opportunity to get ahead since they can't get jobs anymore.
gravitronic
3 hours ago
This article seems relevant:
Economic Nihilism in Card Games https://mtg.cardsrealm.com/en-us/articles/economic-nihilism-...
ButlerianJihad
2 hours ago
> I have a theory
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.
SpicyLemonZest
4 hours ago
A number of state governments are working hard to do something about it. The reason it seems like no action is being taken is that they've bribed the federal government to take their side.
everdrive
4 hours ago
>My Instagram ads
That's your one-two punch right there. On Instagram, and viewing ads. Best thing to do is avoid both.
lapetitejort
4 hours ago
I know several organizations who have surrendered all online presence to social media, primarily instagram. I cannot find their events anywhere else. My dream is to have a fake account that scrapes all accounts I care about and sends just the highlights to me. I am sure that Meta spends an inordinate amount of time preventing this
afavour
4 hours ago
I knew someone was going to post this. Thank you for the startling and brand new to me revelation that both Instagram and advertising are Not Good.
everdrive
4 hours ago
I didn't say it to be rude to you, so I apologize if that's how I came off. I think a lot of these problems don't have real, practical technological or policy solutions. (those solutions could exist in principle, but they're never going to work.) I think all we can do is walk away from these platforms.
criddell
4 hours ago
Now you know that you were the problem all along!
afavour
4 hours ago
Oh wow so if I personally quit Instagram every user will stop receiving advertising for these wildly addictive and destructive services? If only I’d known!
overtone1000
3 hours ago
As Captain Planet said, the power is yours!
qurren
4 hours ago
Meanwhile these degenerate folk play these things irresponsibly, become public charges, and I have to pay the brunt of it as a taxpayer who isn't going to get any of my money back in the form of things that benefit me. Social Security will be insolvent, I still don't have universal healthcare or functional public transportation, and the cost of everything is going up while I'm getting taxed to death.
The only actual solution I've found is to participate in the "system" itself and actually get my money back from the "system". I have better math skills than 99.9% of people on the platforms, so I'm able to profit significantly by quant trading on it.
I wish I didn't have to do this. I'd love to be rich just by working and getting to actually keep the money I make from working. Inflation and taxes could be less if everyone was smart with their money. But my money is stolen, used to support this system, so I just fish it back by playing the house :/
lurk2
3 hours ago
> I have better math skills than 99.9% of people on the platforms, so I'm able to profit significantly by quant trading on it.
lol
lmao
is_true
4 hours ago
You must have clicked some at some point, all I get when I have ads on is outdoors gear because I've clicked a few of those ads in the past and my "suggestions" are related to that category.
internet101010
4 hours ago
Pack ripping was huge during COVID. It is always more economical in the long run to buy singles than to rip packs. Generally speaking, the primary purpose of mystery boxes is to dump slow-moving inventory.
Sleaker
3 hours ago
Gacha games being normalized didn't help this at all either. SMH at all my younger friends that got pulled into this trap.
guelo
4 hours ago
Especially difficult to walkback since bribes are basically legal now because once an industry establishes itself it starts buying off politicians.
esseph
4 hours ago
> (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.
ShinyLeftPad
4 hours ago
you can work on your timeline and who you follow, maybe use a vpn, and make sure meta doesn't really know who you are. my timeline has none of that shit.
afavour
4 hours ago
If I cared enough to go to those lengths I’d just stop using Instagram. I don’t really object to being shown these ads, it’s just wild to me how widespread this all is.
ShinyLeftPad
4 hours ago
i scroll past ads quickly without reading them. but i would for sure object to being shown those ads. if i spotted something like polymarket i would do whatever i can to avoid it (block the account, tell the algo "no").
mschuster91
3 hours ago
> My Instagram ads are just filled with Polymarket, Kalshi, brand name casinos... it's endless.
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.