• dragontamer@lemmy.world
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    4 months ago

    …The point is so far over your head that I’m going to assume that you’re willfully ignoring it.

    You’re the one ignoring my point.

    Rich people do not give a shit about money. Especially lulzy bets we make on the internet.

    I can, and have, bet on things where someone is, or acts like they are, sure of themselves, and I know for a fact that they’re full of shit. I’ve won every single one of those bets, because gambling is a tax on people that can’t do math.

    I can, and have, bet on things because I don’t give a shit. Just to bully someone else out of their money and to back down.

    I think you underestimate the amount of money that’s involved here. The sports betting market in the US is worth about $13B, and I would guess–not bet–that the political market is likely around $1B or so, although it’s going to be peaking in November, rather than spread out over the year.

    Cool. Elon Musk is donating $50 Million to Trump per month. A single Billionaire like Musk can manipulate a small market of $1B bookies quite easily.

    Look up the size of these political donations. All of that money is “wasted”, Billionaires don’t expect political donations to come back and give them money. Its just a way of expressing support in rich people culture.

    • HelixDab2@lemm.ee
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      3 months ago

      A single Billionaire like Musk can manipulate a small market of $1B bookies quite easily.

      How, exactly, would he do that? Given the way that banking laws work, and given that book makers limit bets from any single person, any way he was trying to circumvent their limits would be blatantly obvious.

      All of that money is “wasted”, Billionaires don’t expect political donations to come back and give them money.

      Blatantly false. Billionaires largely expect the politicians they support to enact policies that they either agree with, or policies that will help them accumulate more wealth/retain more wealth. Musk gives money to Trump because Trump cuts Musk’s taxes, while Biden (and now Harris) have been talking about changing tax policies so that corporations have fewer loopholes. (Plus, the NLRB under Biden has brought a number of civil actions against Tesla.) It is very much a quid pro quo kind of situation, not just an ‘attaboy’.

      • dragontamer@lemmy.world
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        3 months ago

        How, exactly, would he do that? Given the way that banking laws work, and given that book makers limit bets from any single person, any way he was trying to circumvent their limits would be blatantly obvious.

        “Here’s $50 Million bucks. Go make Donald Trump’s odds slightly better in a way that makes you lose upto $40-million bucks. Keep $10 million for yourself”

        Also, don’t put it on the books. This is a gift.