jtm, I read a book about it by a "participatory journalist" -- this guy actually lived with them for a while. It's a violence subculture that's just as addictive to the participants as drugs. And yes, it's accompanied by massive drinking.
My guess, too, is that it's something more prone to happen in a gun-controlled society. Why: because it's violent, but not quite as likely to be deadly and more likely to last a bit longer. There's no fun in a gun shot, at least not the sort of adrenaline-building fun these people are going for. It's all over too fast with guns.
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