Americans put less money into their brokerage accounts in states where sports gambling has been legalized

[Costanza]

Sports betting replaces stocks​

A line chart showing the net change in investment flows per household into brokerage accounts after sports betting was legalized in 25 U.S. states and D.C. In the previous 8 quarters before legalization, net investment ranged from $4 to -$7. In the twelve quarters since legalization, net investment fell sharply to a low of -$68.

Data: "Gambling Away Stability: Sports Betting's Impact on Vulnerable Households." Chart: Jacque Schrag/Axios

Americans put less money into their brokerage accounts in states where sports gambling has been legalized, Axios' Felix Salmon writes from a new paper that has caused something of a stir.

• Why it matters: Sports gambling makes more sense as an entertainment expense than an investment. Fans often report they're more engaged in the activity on the field when they have real money on the line.

But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.

• One lesson of the meme-stock winter of 2021 was that get-rich-quick investing — even if it loses money — can be a lot more fun than get-rich-slow investing involving index funds and decades of doing nothing much at all.

https://www.axios.com/newsletters/axios-am-de7b0c30-63d3-11ef-ba59-07d4d689a336.html

 

[footloose]

Probably got a better chance

 

[RoomService]

Let them eat cake.

 

[Costanza]

Probably got a better chance

I'm no expert but that doesn't seem to be what experts say:

But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.​

I think it's just easier for financially illiterate people to understand and access sports betting than stocks.

 

[footloose]

I'm no expert but that doesn't seem to be what experts say:

But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.​

I think it's just easier for financially illiterate people to understand and access sports betting than stocks.

Stocks are easy if you have enough money to let it sit and won’t need it anytime soon. It’s day trading that gets tricky.

So if your making a quick buck I think sports betting might be the way if you really follow sports.

 

[Chiyo]

Stocks are easy if you have enough money to let it sit and won’t need it anytime soon. It’s day trading that gets tricky.

So if your making a quick buck I think sports betting might be the way if you really follow sports.

Thats how people get fucked up.

I follow sports religiously. I wouldnt have picked Brighton to beat Manchester United last weekend.

I wouldnt have picked Zhang dusting Wilder in their last fight either. You cant bank on results in sports consistently.

 

[tallblacknyc]

Probably got a better chance

Bingo

 

[Helico-pterFunk]

Americans are draining stock portfolios to shovel more money into sports betting

Amid the growing lure of sports betting, Gen Z men in particular face a growing risk of financial disaster, experts say.

fortune.com

 

[tallblacknyc]

I'm no expert but that doesn't seem to be what experts say:

But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.​

I think it's just easier for financially illiterate people to understand and access sports betting than stocks.

The experts who benefit off of stocks wouldn’t want you to put your money somewhere else.. sports betting dosent benefit them so of course they gonna talk negative about the competition.. do you think Xbox would want more people buying PlayStation consoles and games over there? Xbox experts wouldn’t tell you PlayStation is a better choice.. same goes for entities watching less money going to them and into competitors.. always pay attention to the narrator of the story to see if their info dosent have a motive

 

[Mrfreddygoodbud]

Sports betting replaces stocks​

A line chart showing the net change in investment flows per household into brokerage accounts after sports betting was legalized in 25 U.S. states and D.C. In the previous 8 quarters before legalization, net investment ranged from $4 to -$7. In the twelve quarters since legalization, net investment fell sharply to a low of -$68.
Data: "Gambling Away Stability: Sports Betting's Impact on Vulnerable Households." Chart: Jacque Schrag/Axios

Americans put less money into their brokerage accounts in states where sports gambling has been legalized, Axios' Felix Salmon writes from a new paper that has caused something of a stir.

• Why it matters: Sports gambling makes more sense as an entertainment expense than an investment. Fans often report they're more engaged in the activity on the field when they have real money on the line.

But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.

• One lesson of the meme-stock winter of 2021 was that get-rich-quick investing — even if it loses money — can be a lot more fun than get-rich-slow investing involving index funds and decades of doing nothing much at all.

https://www.axios.com/newsletters/axios-am-de7b0c30-63d3-11ef-ba59-07d4d689a336.html

 

[Costanza]

The experts who benefit off of stocks wouldn’t want you to put your money somewhere else.. sports betting dosent benefit them so of course they gonna talk negative about the competition.. do you think Xbox would want more people buying PlayStation consoles and games over there? Xbox experts wouldn’t tell you PlayStation is a better choice.. same goes for entities watching less money going to them and into competitors.. always pay attention to the narrator of the story to see if their info dosent have a motive

What do you really know about the narrator of this story, though?

I suspect nothing…

 

[footloose]

Thats how people get fucked up.

I follow sports religiously. I wouldnt have picked Brighton to beat Manchester United last weekend.

I wouldnt have picked Zhang dusting Wilder in their last fight either. You cant bank on results in sports consistently.

I do personal bets on nfl and nba games all the time. Playoffs and titles. Also ran the Olympic Games and picked France vs USA for the gold and USA takes it. Basketball been doing it for 10 years now.
I don’t take a bet im not confident on.

Got a lot of these wagers in my text messages

 

[julian]

99% of people who bet on sports and go to casinos are losers. they dont understand how to gamble or bet. I am amazed at how dumb people r in the casino. I have seen people get on craps table and bet on the pass line then bet on the field and they wonder why they go broke cause they think they got all the numbers covered except 7 of course. Sports betting can be very lucrative if you actually follow the sports and not bet with ur heart but bet what u see on the field or court. I been betting since I was in high school and have won far more than I lost over the years. In fact I didnt work for a few years and lived off my gambling winnings.

 

[footloose]

99% of people who bet on sports and go to casinos are losers. they dont understand how to gamble or bet. I am amazed at how dumb people r in the casino. I have seen people get on craps table and bet on the pass line then bet on the field and they wonder why they go broke cause they think they got all the numbers covered except 7 of course. Sports betting can be very lucrative if you actually follow the sports and not bet with ur heart but bet what u see on the field or court. I been betting since I was in high school and have won far more than I lost over the years. In fact I didnt work for a few years and lived off my gambling winnings.

Gambling and betting are 2 different things. Gambling is pure chance. Anywhere from 60/40 or 50/50 and under. For instance if you go to a casino and play slots it’s all chance. If you play cards there’s a strategy to cut your odds to 75/25 or better by knowing what they can’t have cause it’s in your hand or if it’s been played already.
Same as sports. Know the teams. Know there durability. Know as many things as you can about that team to make an educated pick.

 

[tallblacknyc]

What do you really know about the narrator of this story, though?

I suspect nothing…

So tell me since you seem so sure about the narrator… tell us everything about the narrator

 

[Costanza]

So tell me since you seem so sure about the narrator… tell us everything about the narrator

I don’t know shit about the narrator and never claimed to.

But I do know bullshit when I see it.

You’re the one in here talking about “always pay attention to the narrator of the story to see if their info dosent have a motive”

And when I call bullshit, what do you do? Deflect. Because you don’t follow your own advice.

 

[tallblacknyc]

I don’t know shit about the narrator and never claimed to.

But I do know bullshit when I see it.

You’re the one in here talking about “always pay attention to the narrator of the story to see if their info dosent have a motive”

And when I call bullshit, what do you do? Deflect. Because you don’t follow your own advice.

What did I say that was wrong? Is it true that some narrators have an agenda? Yes.. is it true that you should know if the narrator is speaking from an angle? The answer is yes…. this segment was a hit piece on 1 entity.. is stocks a 100 percent sure bet? No.. does everyone benefit off of stocks? The answer is no.. so why is there a problem that individuals are trying an alternative in investing their money?… stocks been around for decades.. some people win most don’t.. maybe it’s time to try an alternative and do it for decades like the stock market and see if you have better results.. problem is it dosent seem the narrator was pushing or saying any of this.. only that more individuals seem to be putting their money towards another alternative and than kinda downplaying it

 

[julian]

Gambling and betting are 2 different things. Gambling is pure chance. Anywhere from 60/40 or 50/50 and under. For instance if you go to a casino and play slots it’s all chance. If you play cards there’s a strategy to cut your odds to 75/25 or better by knowing what they can’t have cause it’s in your hand or if it’s been played already.
Same as sports. Know the teams. Know there durability. Know as many things as you can about that team to make an educated pick.

Gambling in the casino is for losers who fund the casino operations. Slots is the most ridiculous thing in casino.i had a conversation with an old school gambler over 30 years ago. He was retired and basically lived off the casino. He won money got free cruises,free meals,free airfare,free vacations all based on his comps and play. He told me he played 1 game in casino and that was craps. He taught me the basics and the details of the game and I became an avid craps player due to him. Before Katrina destroyed the Grand Casino in Biluxi I had a 6/7 year window where me and my family went there 4-7 times a year and never paid for anything ever and always walked out with between $400-$1500 winning All due to crap table. We ate great at LBs steakhouse or the marketplace or that seafood restaurant always comped. We would get 2 free rooms and free game place tickets usually between $100-$200. It was the best.I learned the lessons about casinos years ago and when I go it’s about eating free drinking free and leaving with at least $1 more than I spent to get there And for the most part I have done that shit for over 30 years.

 

[34real]

Since some of you are good at it ,give some advice or basically tell Bgol your picks and let's see if you can make some thousandnaires.

 

[tallblacknyc]

Since some of you are good at it ,give some advice or basically tell Bgol your picks and let's see if you can make some thousandnaires.

The first thing you did wrong was not explain what percentage are you willing to pay someone if you win.. people want others to make them rich but not willing to break them off.. this is the first mistake of wanting to progress.. always show gratitude

 

[Chuck_Luck]

I know ppl who can tell you everything about betting, but don't know how to open a brokerage account.

Funny but

Its also the same ppl who use cash checking places.

To each his own.

 

[Costanza]

What did I say that was wrong? Is it true that some narrators have an agenda? Yes.. is it true that you should know if the narrator is speaking from an angle? The answer is yes…. this segment was a hit piece on 1 entity.. is stocks a 100 percent sure bet? No.. does everyone benefit off of stocks? The answer is no.. so why is there a problem that individuals are trying an alternative in investing their money?… stocks been around for decades.. some people win most don’t.. maybe it’s time to try an alternative and do it for decades like the stock market and see if you have better results.. problem is it dosent seem the narrator was pushing or saying any of this.. only that more individuals seem to be putting their money towards another alternative and than kinda downplaying it

Every negative article is not "a hit piece"...

And it is ironic (to put it nicely-- another word would be hypocritical) to say to always pay attention to the narrator without having paid any attention to the narrator of the piece under discussion.

 

[34real]

The first thing you did wrong was not explain what percentage are you willing to pay someone if you win.. people want others to make them rich but not willing to break them off.. this is the first mistake of wanting to progress.. always show gratitude

If I win,it's a gamble and ain't no guarantee in someone's opinion on a game will make them a winner and this isn't going to make no one rich.

I can't show gratitude or break no one off and I didn't win or lose shit.I think this has been on your mind for awhile and you pick this moment to say something....You want to kill me Westindian Archie?I ain't even sat at the table yet

 

[Flawless]

You can't even watch any sport without seeing a gambling ad, who could have guessed this would go wrong.

 

[Costanza]

 

[tallblacknyc]

If I win,it's a gamble and ain't no guarantee in someone's opinion on a game will make them a winner and this isn't going to make no one rich.

I can't show gratitude or break no one off and I didn't win or lose shit.I think this has been on your mind for awhile and you pick this moment to say something....You want to kill me Westindian Archie?I ain't even sat at the table yet

Cool there’s a guy right now that would be at least 20-30,000 richer just over the summer if he didn’t have your mentality.. in fact he probably would have had 45-55,000 more dollars since may.. he’s a lotto player.. I put him onto a number and within less than 2 weeks he hit it for $500.. because he’s not humble and grateful person he didn’t bless me with some thank you money for my tip… well a particular number I knew was gonna come out thanks to a lotto tip I got several yrs ago from mom came out On a particular day.. if he would’ve bet 50 on it he could’ve made 25,000 tax free.. he never got the info from me cause he showed he don’t like to share his wealth when put up on knowledge.. well during the summer another particular number came out that I knew about twice.. $1 would’ve gotten you $5,000.. it came out twice which would’ve been $10,000.. he’s a guy that likes to put 2-3 bucks on certain numbers.. that means he would’ve made 10-15 thousand twice during the summer. Did he ever get to make that much? Nope cause he dosent know how to show gratitude.. I mentioned that to him the other day about certain numbers popping up but said unfortunately I can’t share that with you cause people that don’t like to look out for others should ever be given favors. Sometimes it’s better to break people off with a lil in order to receive a lot. He seeing the negatives when you don’t