Sports betting has become almost impossible to avoid. Since the Supreme Court cleared the way for states to legalize sports betting in 2018, the industry has exploded. More than half of Gen Z investors say they’ve used money originally earmarked for investing to place sports bets instead, according to a Betterment survey of 1,000 investors.
Produced by Juhohn Lee
Senior Managing Producer: Shawn Baldwin
Camera and Editor: Valentina Duarte
Animators: Christina Locopo, Alisa Stern
Reporter: Kamaron McNair
Senior Production Manager: Kathy Mavrikakis
Senior Director of Video: Jessica Leibowitz
Subscribe to CNBC Make It.:
Watch CNBC on the go with CNBC+:
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Want to lead with confidence and bring out the best in your team? Take CNBC’s new online course, How To Be A Standout Leader. Expert instructors share practical strategies to help you build trust, communicate clearly and motivate other people to do their best work. Sign up today:
Connect with CNBC Make It. Online
Get the latest updates:
Find CNBC Make It. on Facebook:
Find CNBC Make It. on Twitter:
Find CNBC Make It. on Instagram:
Find CNBC Make It. On LinkedIn:
#CNBC
#CNBCMakeIt
Why Gen Z Is Sports Betting Instead Of Investing
source
How nobody talks about a book “Rise Beyond Riches” by Arlen Viorra. Can’t believe how underrated it is. This book has some life changing knowledge about wealth.
Meanwhile, the smart folks just accumulate wealth through investments while watching these people losing their money to excessive sports gambling. ☕️😂
Gambling is investing. That's why casinos make so much money. Oh you not ready cover that topic. 😅
A trade goes both ways. It's just an unfair trade. Gambling is only bad because it should be illegal the way the trade is made but that doesn't make it any less of an investment. Institutions make the rules so that the pawns fail. Everything in your life is a gamble. The proper term is Risk. Or maybe the establishments see Gambling as entertainment. In that case there misleading people. Scam likely 😅
Come and have fun losing your money 😂
The biggest danger here is treating a negative-sum game like a retirement strategy. Index funds compound wealth over time, while sportsbooks are mathematically engineered so the house always takes a cut.
A population starts taking high risk high reward when a society is about to collapse.
I worked with guys who said they would blow $200-$300 in ONE NIGHT on sports betting. My millennial jaw dropped so hard…
I know this video has good intentions but there are people doing extremely well with sports. I was very skeptical also but after hearing of people who have turned 50 into 10k etc. I gave it a shot. Lots of losses later but on free apps like Fliff and Dabble I noticed a pattern. You can consistently earn 40% monthly returns in real concrete gains instead of trying to hit the BIG ONES. This vid basically echos the interests of the establishment…..people like J. Dimon and Buffet that ragged on Bitcoin as if they knew it all. Lord have mercy with the gains I am looking at as I view this as sports figures that make millions and getting my fair share of these millions…………the bigger question now is why watch sports for free.
These bot comments are always on money videos my lord.
The USD continually loses value, like all fiat currencies, because the government prints $ like no tomorrow. Sports betting is a symptom of this disease.
Hello👋 I'm newb in the field of crypto trades
Can anyone guide me through?…
"Never gamble on an event that you can't greatly influence"
Don’t bet on sports. You will lose your money.
This video reminds me of something I learned on my own journey. Reaching the $1M net worth milestone was a big achievement, but the number itself is not what matters most.What matters is what that money can give youmore time with your family, more choices, less stress, and the freedom to enjoy the life you worked hard to build.I used to think wealth was about making more money. Now I understand that real wealth is having control of your time and being able to live with peace of mind.
Because I’m poor and I need extra money
Gen Z has disposable income to gamble?
Because of the demonic elites. Trying to empty peoples wallets
All gambling apps (yes all of these are gambling apps)
Should be banned forever
Wait, I thought gender was just a social construct.
Don’t quit your job, stay focused, invest early and it doesn’t matter if you earn the minimum wage, with the right investing strategy, financial freedom is guaranteed. Don’t indulge in unnecessary spending.🤔