Is Sucker Betting wrong?

[MasterVG71782]

HappySqurriel said:

Dodece said:

I have a hypothetical question for this community. Say you know for a fact that something is going to happen. Not conjecture or a educated guess. You have a real factual knowledge. Is it fair to use that knowledge against another person for the purposes of betting even if you have no possiblity of losing. Is it wrong or right, and what if the person making the bet thinks they are taking advantage of you even though you are manipulating them. Does that make it right in the eye for an eye sense? In if they are willing to do to you then what right do they not to have it done to them.

Sincerely going around in circles in my own head.

I would say it depends heavily on whether the information is freely available or if you have an unfair advantage based on private information ...

Years ago I was reading a blog post from a teenager who asked his brother (who had been abroad for a couple of years and "out of the loop) to take him to pick up the new Sonic game for the Gamecube on April 1st. His brother believed that Sega would never make games for a Nintendo system thought it was an April Fools joke so he bet his brother that there was no Sega game for the Gamecube. Of course, Sega was a third party publisher at that time and he lost the bet so it was a fair and reasonable bet ...

In contrast, insider trading and rigged sports events are based on private information which gives someone an unfair advantage and are wrong.

I agree with this. Stuff like insider trading and rigged sports aren't good, but the previous example doesn't bother me, since it's public information and can be easily found out. The person in the first example is just stubborn.