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“Engage the mechanism.”

I can live with that.

The point I was trying to make was why does it seem like so many people approach these things as zero sum, calling people idiots and what not? Everyone is better off but...

Yes, this is how markets work. Person A has something that Person B values more so they exchange and BOTH people are better off.

Seems like this racket lasts only until legal sports betting proliferates at which point anyone who wanted could legally lay of this risk at an actual market rate.

Insurance against what?