123 upvotes, 3 direct replies (showing 3)
That's how gambling works. If you win, you're getting the money from the other gamblers that lost the same bet
Comment by fullforce098 at 27/01/2021 at 14:38 UTC
18 upvotes, 1 direct replies
The point is more that we tie the economy's health to the stock market, when often times all that gambling isn't really benefitting the economy at all. The winners in a casino aren't a good bellwether for the economic health of the town it's in.
Comment by jcmurz at 28/01/2021 at 01:37 UTC
2 upvotes, 0 direct replies
Yes, and with a small amount of the bet from both gamblers going to the middle man (AKA the real winners)
Comment by FS60 at 27/01/2021 at 18:44 UTC
0 upvotes, 1 direct replies
Except in this case instead of taking money from your everyday man (see pump and dumps), it’s at the expense of hedge funds.