Could be in any context. I do it a little on UFC fights but that’s a relatively low amount and I can afford I to lose any time I do. It seems like it’s becoming a really wide spread problem though, at least in the US. At the same time I don’t see why it should be illegal. Granted I also don’t think any drug should be illegal.
It’s just a bad idea in general that doesn’t actually bring any benefit whatsoever to our society.
People will always go on about “do what you enjoy” etc etc. I have no issues with people for the sample playing fantasy sports, which is gambling but for the sake of competition not for the sake of money (usually).
As soon as you start wagering things of value, or taking on bets with consequences which aren’t part of the fun, then it’s just a shit thing that will always result in someone being unhappy.
I guess that’s my real issue with it, by design if it’s something for enjoyment, why does it require someone else to be hurt? (even losing a small amount of money is by definition a meaningful “injury” to the person).
I would bet (pun intended) that the majority of fantasy football leagues have cash prizes. But it’s like poker: a game of skill with an element of luck, and the better players come out on top in the long run.
There are many types of fantasy sport that are not just fantasy football. Also, it depends where the cash prize comes from, is it from people putting money into a pot? Or is it from the league itself as part of marketing and players only stand to benefit and don’t stand to lose?
Another part of fantasy sport is that I think generally speaking, I don’t think it has a focus on winning the prize, it’s a focus on the entertainment value of the fantasy sport itself. Whereas the entertainment value of gambling is directly tied to winning.
There are, and I’ve played many fantasy sports in my life. But the vast majority is fantasy football, it’s like 80% of all fantasy leagues.
For most players, fantasy football payouts come from league members paying in every year. You’re correct, most of the enjoyment of fantasy sports comes from the competition and camaraderie with the prize money being a nice bonus. That’s one big reason I don’t see it the same as other forms of gambling.
A US state benefits from tax revenues. That’s why many of them have lotteries. Those help pay for public services (like education). I’d say that’s a benefit to society.
You’re right in wondering if it’s ethically acceptable, though.
I’m talking about the action itself, not taxation. Taxation is separate to the gambling. In theory, if people didn’t spend that money on gambling they would then spend it on something else which would also be taxed (or is taxed lower because the action itself is beneficial)