• UnderpantsWeevil@lemmy.world
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    1 day ago

    over 90% of what is wagered gets returned to bettors in the form of winnings

    As someone who has gambled once or twice, this seems like a wild overestimate.

    • TeamAssimilation@infosec.pub
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      1 day ago

      They didn’t say it returned to the same individual. Some people get the ocasional win and stop, others keep gambling the winnings until they lose it all.

    • BlaestEgnen@feddit.dk
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      1 day ago

      It depends on category of gambling.

      For poker there’s usually a standalone price going to the organiser, for betting it’s often at 95% return rates.

      Scratch cards tho, those fuckers goes low. Lotteries, 60% is not uncommon, but people like it at the very slight off chance they take the big price.

      So it would require a pretty big breakdown of how many plays each category of gambling

      • UnderpantsWeevil@lemmy.world
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        15 hours ago

        Lotteries, 60% is not uncommon, but people like it at the very slight off chance they take the big price.

        I think its more that you don’t have the time or opportunity to play a hand of poker in the same way you have to buy a scratch ticket at a gas station.