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This is a bit misleading in my opinion... 90% of the money is returned to the bettors per article.
Which is actually more than I expected and a pleasant surprise to me. I'm glad the USA is no longer imprisoning/fining gamblers, it's a sin. Haha get it
Its also really not as insane as it sounds because it will also include all the state lotteries.
166 billion divided by roughly 300 million Americans puts it at about $500 a year. So if you buy a $10 ticket every week you are hitting the national average.
The insane amount, is that per capita, America is only second.
The graph of all countries average spending per capita on gambling is nice and straight, with America second at about $450 per capita. Then it jumps to the no.1, who spends $2400 per capita on gambling.
Australia
That does surprise me, I thought it would be one of those tiny tax haven countries.
500 a year on gambling is quite a lot. Though also not a crippling amount. If you really enjoy it then whatever, go throw away your money.
I spend money on arguably stupid things too. Got 5 games on GOG for £55 the other day.
House takes 10%.
Well losers lose and the winners win, with the house taking a cut from the middle.
Insane but unsurprising with how bad betting advertising is and prediction market scams.