The rising human cost of sports betting
I'm pretty Laissez-Faire about things, but a recent interaction with gambling is making me reconsider:<p>My friend got a lot of free credits from the major sports books and wrote some code that he felt could generate a profit. We all threw in a little bit of money and let the program do what it does. Within a month we started doing 1k a day in profit on 3k wagered. Right as we approached 30k in profit, every major book limited our maximum wagers to pennies on the dollar, effectively making the system worthless.<p>So this product exists when the customer loses money, but ceases to exist when the customer makes money. It's sort of an odd product in that regard.