Bitcoin Forum

This popped up on one of my news feeds or somewhere on social media earlier today and was a bit taken back, to say the least.  As someone who works in finance, I'm all too aware of the lack of proper money management as well as a lack of proper investing.  I would say of my clients, your average American citizen, 90% of them are completely clueless when it comes to the most basics of proper finance.  It's pretty crazy how little people are willing to invest (both time and money ) in to their future.

As an advisor, and this topic has come up here before but this new study made me want to revisit it a little, I HIGHLY recommend not gambling if you're struggling financially.  It's one of the absolute worst things you can do.  It's also NOT a good alternative to the stock market, nor is "investing" in bitcoin (don't take my word for it, moderator, cypher punk, former bitcoin dev and one of the leading names in cryptocurrency Greg Maxwell agrees, as he had a sizable write up in a thread I made here 2-3 years ago discussing this very topic..so if you won't take it from me, maybe take it from a guy who knows more about cryptocurrency than most all of us.  I LOVE bitcoin and I love gambling, but be responsible.

Regardless here's the link to the article- https://secretnyc.co/americans-spend-more-money-on-sports-bets-than-stocks/

Here's the link to the paper/write up " Gambling Away Stability: Sports Betting's Impact on Vulnerable Households" - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4881086

Probably Americans are people who adopt "You Only Live Once" mindset? so they don't care with crisis or something happen in the future, as long as today they're happy, they don't care with tomorrow, since tomorrow is tomorrow, it's still not happen yet.

That's correct.

I don't understand with people who're scared when their investment down for 10%-20%, as long as you believe with the assets you bought, it just a small correction, sooner or later the price will back and pump. I think that people become scared because they invest more than what they can afford to lose, they forget with money management.

Same to gambling, it's just an entertainment, not a primary needs.

Here is the question.

If I had posted the thread I would have added a “vulnerable” or “low-income” to the title, leaving “Vulnerable (or Low-Income) Americans Spend More Money Betting On Sports Than Investing In Stocks” )

It is well known that more lottery is sold and there is more betting house in poor postcodes than in rich ones. In addition, the rich have way more capital income than the poor. So this is just an addition to what we already know.

I get that most people are clueless when it comes to finance. I think a majority of them blindly throw money at company 401k plans though. I seriously doubt that average people are gambling away more money than they’re investing. Maybe if you look at betting volume and not money to seed bankrolls. Even then, this is hard for me to believe.

but it's not just the poor and vaulnaurable ones that gamble much. The rich and well to do also gamble and most often, they are the ones that gamble with a greater amount relative to the low class people.

Gambling is not just an American concept but a global one. The ratio of people that are investing in stock or even crypto to those gambling should be around 10:1. A lot of people just want to put Thier money into something they can quickly see the returns which is the reason why gambling discussion takes and attract far more attention compared to any investment discussion.

IMHO, for every nation and race, there are the majority of people who have no idea about investing. All they take is to live by the day and that's it, they don't prepare for the future and so investing is out of their list.

Whilst I see some crazy argument that when they think of gambling investing is really out of this world. It's funny as it is but there were people that have that justification that they conclude that it's just the same which is crazy.

The importance of investing should be taught at a young age so that when these kids grow up, they have an idea that it's a way for them to have a better life in the future. Although not all investments are flourishing and becoming successful but at least, they get the idea.

Personally, I am not sure that 90% of Americans are ignorant about finances or risk management. In my opinion, this figure is greatly inflated. Perhaps a significant portion of the population has some frivolity in terms of managing their finances, but it is unlikely to reach such high numbers.
Also, I think that many Americans have their own reasons for allowing some risks into their lives. After all, in order to manage risks responsibly, we must be able to do it, and this skill only comes with experience. Experience itself also needs to be gained from somewhere. Where can a person gain experience in risk management if he has no cases in his life of negative consequences of frivolous behavior? This is a philosophical question and it does not imply easy solutions.

That seems true. People generally seek fun, and investing in stocks can be boring, especially if you don’t invest a decent amount of money. The appeal of sports betting or gambling is that with a small amount, you can potentially turn it into something significant. It's no wonder the sports betting industry is a billion-dollar market because people love to have fun, even though most end up losing money.

Additionally, since the majority of people aren't really investors, they focus on securing their income through their jobs. It’s not surprising that many don't invest in stocks, as small earners often lack the patience for investments like stocks, where returns aren't that much.

I have not invested on any stock before but I have gambled thousands of times. Although, my reason of not investing in stock is because I prefer bitcoin. But investing in stock has not even come my mind before. I guess most people are just like me. I think people are more exposed to gambling than stocks. But because I am gambling, that does not means I am wasting money on gambling and that does not also mean that I do not have a good business plan.

I think that the increasing number of people that are engaging in gambling is not limited to Americans, more people are seeing gambling as a get rich quick scheme. Fancy sports bet shops are everywhere in my country and more people are looking for shortcuts to riches without considering that the percentage of losers is far greater than the winners. I don't think that there's anything wrong with the increasing number of people that are coming into gambling, the only problem is if they don't know how to gamble responsibly.

With proper financial education a gambler will make budget for his income and allocate a small percentage, being the amount that he can afford to loose for gambling. This is because gambling doesn't guarantee wins or profit so practicing responsible gambling wouldn't stop you from investments.

The research OP referenced clearly stated that poor households are more prone to using money from stocks for gambling. Although the percentage was not discusse this is likely the case since this set of people might see gambling as a source of income.

The research was carried out by scholars from Northwestern University, University of Kansas, Brigham Young University and University of Kansas. However, I know that the study will have some errors and limitations.

It is quite alarming to see people substitute investment with gambling. Gambling should never be seen as an investment or a stable source of income. Just as we spend money on entertainment like movies, computer games, etc, gambling funds should be an insignificant part of our income.

I agree with this and I don't think it's just Americans.
Many people who are struggling financially are looking at gambling as their solution to try and double their salary or their budget which I think will be the worst thing that we will do with our money.
We can gamble but let it be for entertainment, especially in sports. Put $5-10 in one game per week and maybe that's it if the budget is too tight.
When it comes to investing, here is the other issue in third-world countries, they don't know how and they don't know where to invest their money. While in gambling it's as easy as depositing and then playing without any hassle.
Sometimes we are always looking for the easy way which of course could also be easily taken from us in a faster way.

The only thing that makes sense to me in that case is to play the lottery if you are in a bad financial situation. The odds are against you too, but if you win it's not just a doubling of your salary, it can change your life. And although it is not the biggest prize, in Spain, for example, the Christmas lottery is played quite a lot, with a maximum prize of 400,000€ (approximately $434,000) and there are other smaller prizes that when people win them they can use to get out of debt or buy a house, amounts that are not enough to drive you crazy but that mark a before and after.

In any case, for me, gambling from time to time or playing the lottery should be a complement to having a wealth building plan that you are executing, never the only option to try to improve your financial situation, otherwise you have all the chances for the opposite.

Totally right. Gambling should be a hobby and stay that way, not a life-changer of sorts, because the odds won't favor you.

This is also what I thought, it's not just the Americans are vulnerable to gambling, or betting on sports bet rather than putting their hard earn money on stocks. And now with the proliferation of online gambling, for sure there are a lot of countries as well are really prone to gamble and bet and lose money and not think about their future. It is the sad reality of gambling and that's why everyone here should be wise enough not to gamble all their savings. Specially in third world countries, there are individual who are willing to put everything in the line just to gamble and hope that one day everything will change and they will win big money. But unfortunately, it's not the case for many of us. As we here horror stories of people who have been addicted to gambling and all we can wish is that we won't be the next one.

My relatives desperately dreamed of moving to America, and they succeeded, winning a green card. But what do they have now—a twelve-hour (if you take into account the road) work day, a six-week work week, and several holidays that are paid for with some bonuses. Yes, they know about gambling since the casino shines with bright advertising, but if we talk about investments, then the conversation is short; they simply do not have enough knowledge due to lack of time or finances because all kinds of insurance and tuition for children take half of their earnings. Maybe these people could afford to go to a casino for a change, but I doubt that they will be able to become addicted to gambling, having a very tough rhythm of life. Perhaps Americans, who are native residents, not burdened with various problems, can afford to gamble, and although America is considered a country of prosperity, according to relatives, it teaches people to save.

I am not concerned about those financially stable Americans who choose to gamble. As long as money isn't much a problem to them, I have no problem with what they choose to do with their money. The problem here is with those low income earners, those who are still struggling with their finances, not setting their priorities right. This is not just about Americans, but every adult who is still struggling with his finances. I do not know what gives them that believe and hope that investing so much time, money and energy will give them that financial stability they so much crave for, instead of investing in something else that guarantees a more stable return.

To every gambler out there, it is neccessarily that they set their priorities right. Income from gambling should not be what anyone should rely on. Relying on gambling as a source of survival can actually limit what that particular gambler can actually achieve if he fails to give other investment options a chance.

Honestly it is not only Americans who do that, I would say a great majority of the world spends more in sport betting or in gambling in general rather than buying stocks, I am not saying that is the correct thing to do but I agree with the majority. I agree as most people have a desire to get rich quick, nothing we can do about it, this is deep down in our DNA so it is very difficult to change this and as such most people prefer that over stocks because in stocks you need to educate yourself have some prior knowledge and do some research first, much different than playing a slot machine where you just have to hit the spin button or to place a three games parlay in sports during weekends.

There is an interesting paragraph there, seems like crypto is affected too:



Anyhow, the numbers are a bit biased since they show only direct investments, so no buys through investment plans, no 401k, not everything else, just raw stock purchases compared to the entire amount bet, including funds won and then re-gambled!
The whole gambling industry is 60 billions, even the last in the top 100 companies is one and a half that.

When you want to fix your financial, it is better you don't gambling because that can effect your financial. You must have a plan how you will use your money and not use that for gambling. That will avoids you getting lose from gambling and you can save your money for other things. Playing gambling because you want to wins the money will not be recommended because you will difficult to win from the games but you will have a chance to lose your money. So you needs to think twice when you want to use your money to playing gambling. If you cares with your money, you must not waste that money in gambling.

It make sense right, that's how only 10% of the people being rich while the remaining 90% live from paycheck to paycheck. It's not that due to being responsible or not they lack knowledge of how to make money with money so the easier choice for them is to gamble and take chances because they have probably no idea how stock market worse or consider it's not in their league.

Probably they spend more on buying electronics than anything, just an assumption though. :D

Investing in stock is not the only existing means of investment. There are other means of investment like investing on bitcoin and other cryptocurrencies, investing on real estates, properties and buying lands. If you are doing business, you will invest on the business. Gold, silver, other metals, crude oil and other commodities and assets are not stocks. Some people have savings also. There are still other means of investment. If you considered all with gambling, you will see how these will not be accurate. That was why I posted initially that I have not invested on stocks before, but that does not mean that I am not investing. Among everything someone can invest in in life, I do not think stocks contribute to 10% of it.

 For a country who's economy is quite satisfying, just maybe it's people may not be to bothered about investing their money on something that's more profitable. Though we have so many good and profitable gamblers in the US but then most of the time some are clueless of what to even do with their betting wins. Again for someone who isn't financially upstand, I don't see any reason why he should involve him self in gambling. It's even more risky or stupid to think that he might just hit a jackpot in his next game. Unfortunately he losses the little he had.

Simply put if you are poor, if you are in debt, if you are broke, whatever may be your financial situation never think that gambling is the solution or one of the solutions. Secondly never use gambling to try to escape from financial situation. I am an advocate for responsible gambling and a person struggling financially cannot gamble responsibly no matter how hard they try. Thank you for telling us about this new study. The findings can also be generalized to other countries with high rate of gambling too.

I can't agree more, people who have financial problems must focus their time and attention on how to create or find a steady source of income and gambling is not the one.  We have seem lots of family devastated by the uncontrollable urge to gamble by the head of the family or the person who is responsible for the family's financial matters.

About Americans Spending more money on betting on sports than investing in stocks, I believe it relies on the get-rich-quick thinking of people.  Aside from that, I believe gambling platform are more accessible to an ordinary citizen than stocks and other financial investments.  It is probably the reason why more people are into gambling  than into investment.

The idea about the importance of proper money management is quite relevant, given that these days many people are averse to any sort of financial planning. Truly, at times to start gambling when you are struggling financially can be one of the worst decisions because of how high-risk and uncertain it is.

On the issue of bitcoin investments, my view may slightly differ. I agree that investing in bitcoin or any other cryptocurrencies can be very risky, but it can also be uncorrelated assets provided the risk is managed well and properly understood. The same way you would with any other type of investment—do your research and fully understand the risks involved. It's also wise not to overcommit to a single investment.

Most importantly, both gambling and investing in cryptocurrencies (or any other form of investment) require responsibility and full awareness of the risks involved.  Prioritizing financial education: the wisdom to manage properly is what keeps the stability of long-term finances.

I equally think that if a person is struggling with finance, then there's no need to waste the little money they have on gambling or something that can not help them to grow the money. I know that some people are gambling to get away from bored moment and to catch fun but there need to be a balance on how an individual is spending their income and also on what they are spending the money on. When there is a balance, the individual needs to consider how much he or she is earning and frequent they get the earning. There's are many things to consider first before going for less important needs.

The title is technically not true.

Sports gambling can never be a bigger industry than invrding simply because invedting covers every industry imaginable that is a public company and big capital has its money in stock. The wealth of the rich class far outranks what we working class people could put in gambling, even if we put our everything in there they would still have more money. There is indeed a trend now with sports bets legalized in most US states that people invest less and gamble more though.

But also we ought to realize that seeing investment as an obligation is kind of a trap. Our income had diminishing purchasing power through time so we are kind of forced to spend our money as we get them. If we invest to battle inflation the returns show in many years time and very little tangible change is seen on our quality of life. So it's understandable more people want a lucky break instead of getting a better retirement in 40 years time...

I wish our governments would invest on making everyone's life better instead of blaming our society's faults on shit like gambling though.

It's just a signal USA is a country which works economically for their citizens. Even if they don't worry about investing their money, it's still possible to live a comfortable life spending on things most of us from third world countries can't give ourselves the luxury of doing so. Life can be more expensive there, but at same time there are more opportunities and better hourly payrates. Probably if I were there, I wouldn't worry too much about investments on the proportion I do living in a third world country. I don't think they are wrong. If they can live like that without prejudicing their future and their families, it's ok.

Sometimes it's annoying to keep thinking about investments and how to make your money last longer, otherwise you will be stuck financially eternally, but it's part of the game if you want to play it right...

That's the most problems of an individual nowadays, they've been engaging to themselves with betting instead of stocks or trading. Without knowing they've became slaves with gambling, and lacking of financial management and knowledge loss of money always happens. Most people we're out of debt due to loans and other funds misuse due to gambling activities, betting on sports. Though that's their decision to do that but it's just so sad to hear from a person that there's no proper handling of funds and it went bad in the end. Not just western countries, but also with Asian people and other races.

That is the simple truth, but In most cases those who gamble in such situations, thinks of trying their luck if they could hit jackpot at that moment of their life when things seams not to work out for them. And trust me sometimes people do that in sad moments and boom 💥 unexpectedly and their life change for good. But it doesn't work out to be good all times. But alot of story has been heard by people who use their last bankroll to win huge amount that changes their life for good. It's vise Versa.

This aspect is what is described as scale of preferences, (https://www.linkedin.com/pulse/how-create-scale-preference-your-finances-my-fortune-vault#:~:text=A%20scale%20of%20preference%20is,Start%20with%20a%20budget.) placing things In orderly manner according to priorities. But I doubt if addicted gambler think of that before gambling LoLz. Addicted Gamblers are not good economist, they are moved by what they think and the desire to win huge even when they know it's not possible.

I wonder why that is, although the population size and demographics would be good to know on that study. I feel like for younger folks like 20-30+ years old this would apply more to. I wonder why more folks wouldn’t want to place their changes in something with much better odds. I think it’s mostly the thrill you get from sports betting why most people love it so much. It’s addictive. .

If this information is true or near the reality then it is a very big problem and shows that people are taking gambling the wrong way. Gambling is supposed to be a means of earning passive income and not what someone will put major part of his income. This study shows that people have completely ignored the first rule of gambling which is to use what one can afford to lose. No one can afford to lose greater part of his income, there is bound to be problems. I have some friends from the US some of whom are into gambling but I never knew that gambling is that big in that country. In my country gambling is big but there cannot be such results if such survey is done here because access to credit is low here so people guide what they have carefully.

I think it's make sense since it's all about culture.

Americans prioritizing work life balance, they don't really chase money, they're fine with one jobs and enjoying the life instead of trying to find other jobs or being hard to yourself. Betting, clubbing, and night party are very common.

This is different to Asian where they trained very hard and they always looking to chase money, it's quite normal to see someone have more than one jobs, usually they have 2-3 jobs.

After all, we should be happy with what we choose for our life isn't?

Each country and on the people who do lives on it would really be having that different culture and other things which we know that it could differ to each other. Why would really be people loving to make out those kind of comments and conclusions about on the stuff that they are doing? If they would really having that kind of spending on betting on sports rather than on investing on stocks then just let them be.
Just like on what you had pointed out that we dont know that they are really that trying out to have that life balance in terms of the things that they are getting involved with on which there would really be
americans who would really be focusing that much about gambling and not really tending to make some consideration on doing investing. Who knows if those bettors have already invested on stocks or other means of investment?  and it just turns out that they had planned to have some leisure time on making up some betting? There's no way that we could really be able to point out on what are the things that they are dealing
not unless if you do know a person then its good but if not then drawing up some conclusions about certain conditions isnt really just that right. Just let them be on what are the things that they would really be getting involved with and since its their money then its their full rights on what they should gonna do. People are really just that loves on involving into other things on what other people really that dealing on with.
We are all free on the thing that we do like to do, as long you do make yourself that responsible then this is something that would really be that important. Dont make yourself that being careless.

Might just be something unique in Americans? Or just a culture thing? In my circle at least afaik almost 90% of us are either investing in crypto, stocks, or are planning to buy some plot of land/start up a business. There are quite a few of us who gamble yes but almost all of them are pretty light. I think only two of us, me included are pretty heavy gamblers. This has never stopped us from properly financing ourselves though.

I do agree in general. I always put gambling as an entertainment thing, so funds allocated for that are funds that I use for my wants. These allocations entirely depend on what you're monthly salary/expenses are though and when I first started, this was at an absolute zero lol, so I stopped gambling then.  

Job security is what Americans are seeking. They have a good government that provides better healthcare and education for their children, so they can enjoy life as long as they have a job. Unlike in parts of Asia where unemployment and underemployment are very high, people there really value their earnings and try to find ways to increase them through investment.

Compare the salaries in some Asian countries, which are five times lower than in the USA, and it’s clear that the quality of life in the US is better than in struggling countries. Therefore, American citizens can enjoy their money while ensuring they can still do their jobs to continue earning.

It's not only Americans but other nationalities as well; people are not that patient, they want quick profit and fast results, so they are more inclined to spend their money on sports betting than investing in stocks.

It's more entertaining and exciting to study and do research on sports betting than stocks which is why people find studying what stocks to bet on boring than sports betting; they just cannot keep up reading and checking on the graph.

Until people realize and are educated about how good investing in stocks is, they will spend more on sports betting than on stocks.

It's not something hard to believe. I have also heard that more than half of Americans live paycheck to paycheck.
If this is true then we can clearly say the Americans do not believe in saving or in other words, they like spending more.
Everybody have their own choices and may be some like gambling more and so they would be spending more on gambling.
This may be why they are not investing and rather gambling away their money.

rightly noted! indeed, not only in the states but also in other countries, I also noticed that in the richer areas of the city I cannot find lottery tickets, but in simpler areas and in tourist areas there is a lot of entertainment. And the article describes sports betting and if we Considering that Americans love going to stadiums and do it quite often, they place bets accordingly more often, while investing in stocks is a rarer process, so everything is generally logical.

It’s under since Betting on sports(Gambling) is a form of entertaining which most of the people preferred doing on daily basis compared to investing that only financial educated prioritize over entertainment.

Gambling provides quick results that’s why many preferred the shortcut even risky compared to investment in stocks that usually slow if you don’t risk on volatile stock. Hiring a financial advisor is costly on US which is the other reason why only few is well educated on investing.

Nevertheless any form of entertainment is always the top priority of human rather than planning finance for their future. They will only change priorities once they are getting older.

Stocks have been acting crazy and it would take time before they could benefit unless they go for the volatile like Nvidia. Sports betting is more lucrative and they can profit faster if they win.  The economy is bad and relying on the stocks they invest that only rise when the economy is good is not going to make them survive waiting for the economy to turn good.

Can't blame them for turning to gambling. The sports have been grabbing a lot of attention, particularly the exhibitions.

This is nothing but fact statistically it has been showed severally that Americans spend more on gambling than people from different parts of the world, but this is just based on what we are told we actually don't know that for sure. I watched a video and it was about how an American guy who looked pretty average lost fifty thousand dollars in a slot game and he tried to get it back with another fifty thousand dollars he ended up losing a hundred thousand, that would have gone a long way in investments and other things

Americans Spend More Money Betting On Sports Than Investing In Stocks Well that interesting story. this based on my perception but I think its is because investing stock is hard for some people I mean not all know technology and how to register a broker account and invest in stock is kinda expensive with low instant return haha.
Gambling is easy and if you get lucky enough you can double your money in a second.

It's a funny thing, and it has often prompted me in the past, and it prompts me now, to compare gambling and investing. No matter how much we think and compare, investing still wins in terms of profitability, but loses in terms of entertainment. You know, if the famous phrase is that investing is a very slow process, they are like drying paint on a fence. Often you don't even understand when to expect the results of your investments. It may take 10 years or twenty and you still may not understand what the result of your investment is. As for gambling, here we can always check the result of our actions quite quickly and people like it, not only Americans.

I suppose some people who are in financial stress would see making a gamble
as something with quick returns, or hoping for quick returns. Investing that money
into stocks or Bitcoin for the long term.

Unfortunately failing to sit down and work out a plan to get through financial difficulty
and instead opting for a quick dangerous fix is not ideal.

Opting for the quick fix and pulling it off only leads to a belief of success and
one that can be replicated again or even constantly.

I’m sure it’s not about a lack of knowledge about technology since most gambling nowadays is done online, so one has to know how to operate online by creating an account at a sportsbook in order to gamble. It’s just that not everyone has the mindset that investment is necessary to improve life. They are satisfied with their job, and that’s it. They’re also having fun with sports betting, so for them, that’s already a balanced life and work.

I agree that lotteries are very different from other games and I think that they have a limited addictive potential in comparison. But I agree with the OP that, even among those who only play lotteries, or even Christmas lottery (which is played by more than 70% of adult population in Spain, as I read a few months ago, if I remember correctly), only a few invest in stocks, and it is much more common among them the case of those who do not make ends meet.

Well, yea some people in such financial state always feel that when they try their luck, they can make some victory and multiply their finance. I remember there was an old thread where the OP said he needed some financial assistance for a medical surgery but because he couldn't get the money, he decided to gamble with the little money he had. Such act is too risky because it doesn't pay off well 80% of the time. An addicted gambler might be aware of preferential scale but because they are addicted, they don't care of any reasonable idea at that moment.

Besides, not all people are well-versed how stocks work or have enough money to venture such investments. As we can see, you can gamble even with 10 bucks, especially for online casinos. Whereas, when you talk about stocks, you are dealing with hundreds to thousands of dollars minimum. Hard to move around using small amount of money in stock market.

But of course, when it comes to return of funds, you should not compare them. Because in gambling, most of the time, you have no return as you will lose all your funds. But for stocks, if you know what you are doing, you will earn profits even if it is not lucrative investment.

It is clear that if we want to invest in Bitcoin, we must safe our money and not use for playing gambling. Playing gambling without having control will make us lose that money and we can not continue our investment. But if you can manage your funds with all of your necessity including for playing gambling, I think that will be no problem for you because you will know how to allocate your money properly. Besides that, you will not use the money for your investment because you know that is the portion that you prepare for your investment. Your gambling activity will not be disturb with anything because you allocate some money to playing gambling and if that money is gone, you will not put another money in your account. But not many people can do this especially for those who doesn't have control over their gambling activity. So you must responsible with your money if you have many things to do with your money.

I think he is pertaining to stock market when he said the lack of knowledge which I agree since broker website sometimes too complicated due to a lot of terms and other trading technicality. Crypto exchange is much simpler than a broker website not to mention that the withdrawal process on broker usually take 2 to 3 business days to process.

On the other hand, creating an account on sportsbook is much easier since you just need to sign up and deposit using cards to top up balance. The convenience of sportsbook is probably the main factor why it’s more popular than investing on stocks that is much complicated.

I think it's very common for a country to see more interest in sports betting because there's more advertising about it. I'm pretty sure there are more ads for sports betting compared to those for investing in stocks. While I haven't read any articles on this, I'm certain this isn't just happening in America but also in many countries in Asia, like the Philippines. Before, I couldn't see any ads for sports betting on national TV, but now every time I watch TV, I always see sports betting ads here in the Philippines.

There's more thrill on betting on sports than on trading stocks. Trading stock needs your time and attention, do technical or fundamental analysis while gambling is more luck than analysis or skills. It's similar to how a person who have got the hang of leverage trading don't go back to normal spot trading even if they are losing everything everytime.
Stock themselves are not entirely fair game. There are laws regulating it but everyone knows the whales still fully controls it. They decide when to bull or bear. While sports gambling is applied equally to everyone. The results are the same and known at the end. People at least knows they are not being scammed with a fraud.

This one is the problem for most of the US people right now. They've adapted the YOLO mindset hence, they don't care about the future, but they just care about the present because they might think "we don't know what can happen in the future". They aren't thinking about their future and they also want to earn money in the quickest way possible. They don't care about the risk as long as they can do it that's why as the subject title says, more Americans prefer sports betting than investing into different assets. Kind of sad, but that's just how it is.

I want to say that this 2 sentences is purely common sense for an average person, but the reality is, there are still who are hoping that their lives can change with the help of gambling that's why they're risking their remaining money in hopes that it will give them more money. It's one of the worst things that a person can do and yet, there are still some who are doing it for some reasons. I don't want to call them stupid, but they're really are stupid and they don't care about themselves.

Well, online gambling is becoming more and more popular in our country that's why they're also promoting it even on live television as well already. After all, they're regulated that's why they aren't illegal. Lots of sports betting ads not only on TV but even on social media platforms as well. :D Ads here, ads there, ads everywhere.

To be fair, investing in your future so you have a higher standard of living when you finally retire should not need any advertising, since that should be a natural desire of every single person out there, however since investing can be a very dry subject, there are not many people that are interested on it despite the fact that it is one of the most important topics you could dedicate your time to, as even if in most countries you are mandated by law to save some of your monthly income for your retirement, the amount is too low and it will force to work for most of your life.

But if someone is interested, they can learn, so I don’t think that’s the reason; it’s more about a lack of interest. Investing doesn’t guarantee profit, and if it does, it would be over a long process. Having a job, being able to pay the bills, and sending their children to school—many people are content with that. They might try sports betting because it’s fun, as long as the money used is within their budget. In short, they just want a simple life, as investing can be quite complicated.

There's always a fine line in between leisure and investing and this is something that we can be able to compare it out and in speaking about people is really taking up some risks then it will really be that mattering the level in between since gambling or betting would be having that risks even more in compared when you are really that doing investing whether on stocks or any other typical venture that you are really that dealing on with,
on which having that chance or tendency that could earn you money. Betting could also give out that too but in speaking about luck factor then gambling is really that highly relying into it on which it would be understandable on which one you would really be focusing into and on which one you would really be doing it for the sake of leisure and entertainment. You are the ones who would really be choosing up on which one will really be that something that will beneficial for you. If Americans is really that putting up focus more on sports then just like on what i have said earlier that what if those americans had already made out their investments
and have a pile of it and they  are already cherishing out their profits into those investments and wanting to play gambling? There's no way that we could really be able to tell on what people are really that dealing on with.
You cant be able to know whether they are already that having investment or not. It would really be just us people would be just seeing the surface. If it turns out that a certain individual dont have any investments or dont consider one but rather they are focusing on playing gambling then it would be obvious on what kind of financial state that they would really be that going into. Its not bad to deal up with gambling or betting
as long there's always that financial control on which this one is really that important on not to make yourself get wrecked.

Talking about thrill then of course it will really be that understandable that betting on sports is more thrilling on which we know that when it comes to this aspect then it would really be that understandable
that it is really that more entertaining rather than on trading on stocks on which its normal since its really that been designed on that way on which it is really just that for the sake of leisure and as for
trading on stocks then this isnt something that could be connected as a leisure thing on which we know that you would really be needing up that serious approach towards it because we are talking
some investment on here on which means that it will be needing that that seriousness on such involvement on which it is really that totally opposite when you do gamble or make out bets on which
its really that truly understandable on this case.

Sometimes the culture that People have in different countries and the ease with which they do things is something that can define everything, apart from the environment that they establish , that influences a lot, obviously the things that have to be done by investing in shares require effort, reading, doing many things , reading books , being aware of the news , Among other things, that is Something that can be seen, and obviously it requires a great effort, on the other hand the casinos do not, the casinos are different, you just have to play and bet , Wait for luck and that's it , it's much easier, but the money goes much faster.

What I have been struggling to understand is that, if investing in bitcoin is now equal in risk to gambling, because I don't understand why bitcoin and cryptocurrency appeared in this discussion, but we have to know that majority of Americans are very well aware of the risk of dominance that comes with stock from the both the government and it agencies, but also bitcoin is far better than gambling and even stock to me and the reason is that there is high inflation in the financial system that will make every effort to increase value look invisible because of high inflation.

So while we prepare for the long term we all still need to take the right step in the present time, gambling is multiple dimensional and it subject to individual approach to it,  sa. E goes with every faces of life, because at each point in time, when it comes to financial management, it is a necessasity while gambling because it through such proper financial intelligence that will give you a basic landing in gambling, and this caught across every aspect of life.

The prevalence of sports betting over investing among American citizens, as I suppose, is connected with the fact that making sports bets is easier and simpler, unlike investing. That is, you don't need to study the situation on the market and comprehend the basic laws of this sphere. Although, for example, investing in bitcoin is a very simple matter, which even a schoolboy can do. It seems to me that the reason here lies deeper, namely, the development of sports entertainment in America and, in general, the culture of sports betting in combination with "instant" winnings (unlike the stock market, in which you have to wait). People want to "get rich" here and now. Also, if you are lucky, a small bet can bring much larger dividends than investing in the stock market (the profit multiple is higher).

You didn't even have to recap your words on that note beyond limits.. It's been stressed countless times in here that neither of these two options can serve as an escape route/ a recovery option...  Never dare to gamble with the only money you have left, hoping to make profits. You could be lucky as there's a slim possibilities, but "it's like trying to pass a bull's head through the hole of a needle"
On the other hand, American's are somewhat vulnerable and eager of trying out new things. I'm not surprised that the percentage of risk takers are much than the average size of the entire population. That's how far we've gone ever since the introduction of casino sites. Oh c'monnn, have you forgotten that it's way more easy to wager on any games with just your cell phone/tab? And, to be more realistic, I rarely see people coming up with huge cash to wager in betting houses - atleast, it hasn't happened throughout my working experience. I'm talking the likes of wagering $100 k worth of our local currencies etc, but it happens in online casinos.

Thank you for the links and your insight into this issue: how the majority of people lack basic knowledge in financial principles and how that, in turn, affects their long-term security. Realistically, people do spend more money on sports betting than on investing in the stock market. That really shows there is quite a gap in financial literacy and in decision-making.

I completely agree with you regarding the risks with gambling, especially for those who already live on a tight budget. That only creates false hope and results in heightened financial stress. In the same way Although cryptocurrency such as Bitcoin might be an interesting subject, But it also comes with its risks and cannot beat the existing financial research. that is stable.

Great that you are using your platform to promote financial ethics, providing resources for people who want a better understanding of their options. Now I will start going through the articles and posts shared by you. Again, grateful for your precious feedback!

I appreciate you bringing this to our attention, even if we are not Yankees, we can still learn from this and make informed decisions with our money. Gambling has never been the way to prosperity and the earlier we know and plan our finances, the better for us. But what I will not believe is that 90% of Yankees do not know how to plan their finances, I can't accept that because the number is too high than reasonable. Is it that almost all people in the US are living carefree lives at this revealing age? The level of investment no matter how little by the American people has significantly increased by my studies, be it in crypto, stock, fixed and flexible savings with high interest rates etc. It can't be that bad in my opinion and most of these statistics they call out at times do not have backings if questioned about the modality that arrived at the actual value but may only reflect the overall truth.

I will no be surprised if I would see articles like people spend more on gambling than investing. Because sports betting is always easier than selecting a proper asset for investment. People learn from the very childhood sports rules and see how one team beats another. It is not a big science to try to predict which team is stronger. But a person must spend a lot of time learning how to find a profitable investment. And dont forget how easy to access those sports betting apps and sites are. If there were as many investment platforms as casinos, and it would be the same easy to register, deposit and bet, the ratio of bettors and investors would be different.

It's good that you created such a topic because it can definitely become a big problem for some players. Investing is a great thing, but the fact is that with modern life of comfort and consumption (in countries with above-average development), many people want to get the best here and now and do not want to think at all about getting more in a few years by investing in the stock and cryptocurrency markets.

Even among young people, I noticed that many do not want to be like Warren Buffett, who earned money on investments thanks to long waiting and careful analysis, but want to make a bet on a match that is shown live on TV and find out the result in 30 minutes. I would advise many to be more patient and far-sighted, because in a few years we may regret not having made an investment that could have doubled our deposit.

In my opinion, those who dare to take risks like going online to spend a lot of money to bet on sports may be because their hobby is like that but unfortunately they don't care how much money they have lost by doing something like this, on the other hand we know everyone definitely wants to be able to get money quickly, and of course by betting on sports it can be said like that so it could also be those who spend a lot of money because they want to get money quickly. Considering that a good investment in my opinion is a long-term one so not everyone can do it and take a shortcut, namely by betting. Unfortunately this method is not effective at all because it will likely only make them lose more money than they should.

Because modern world forces people to make quick decisions, prefer quantity over quality, short and quick has priority over everything. Imho social media can be blamed for that. We have news feeds that we scroll - get lots of short info in a short period, we have short videos in TikTok or Instagram, we prefer movie or tv-series brief description over watching them fully. Because people drawn to get more and new. That is why investment looses against few tap instant bet and finding out results quickly.

I don't believe in this data, either. As a witness to the lives of my relatives in America and reviews of the lives of their other neighbors, I know that America is not only rich and successful. Behind a successful and seemingly beautiful life, as we see in advertising, there is money that you need to be able to plan regularly. The most common medical insurance, taxes, and tuition for children or rent—that's already an approximate calculation of your finances; then you need to calculate for food and clothing. Of course, earnings there may be higher, but not enough to regularly visit gambling houses, of which there are many, or play from a mobile phone. From the experience of my relatives, I know that in America no one cares who lives how or who needs help at the moment. You are responsible for yourself, and if someone slides into the abyss of games, then the problems with addiction will lie only on him. The state teaches responsibility.

It's crazy how many Americans bet on sports compared to investing. But most individuals find money difficult to understand. It is too abstract; they do not comprehend investment. Gambling? That's immediate. Win or lose; it's a pleasure. The story is powerful. Man, survival mode wins above investments. Trip to a casino is an escape rather than a financial strategy. People should have financial knowledge as easily available and interesting as gambling

Gambling's not all bad. It's entertainment; the risk is only incidental. It shouldn't, however, be the only financial game available in town. We must empower individuals, provide them with the tools to create wealth, not only pursue short gains

I am not ready to perceive this as Americans are gambling for multiplying their money but for enjoying their life. So, it all means they are caring more for today's fun than tomorrow's financial security. Only those nationals whose economic is not certain and their government policies are not in favour employment and financial freedom, must be always planning up for their future.

Lion never stores its food for tomorrow because it believes in its ability of hunting whenever it needs.

Still people treat these two similarly? Bitcoin has been recognized almost equal to gold. After ETF, I am seeing significant percent of bitcoin investments in smart people's portfolio. It means nowadays you may invest in bitcoin like another stock or gold, subject your risk appetite. But, gambling is different and it is definite injurious in all means.

I also find this quite normal, not only in the US, in other countries people also like to focus on lottery points as well as sports betting because of its easy and fun nature, you can join the game with just a few basic instructions while investing needs more in-depth factors to get a clear concept and when it comes to this concept, the initial capital also needs to be enough to support the maintenance. In addition, investing is not a source of goods that can arrive at the ferry terminal in a day, gambling excites people with its quickness.

Don't have the assumption that everybody in the US is financially stable. Some of them are going through financial problems and even indebt. So many of them gamble not just for entertainment but to get extra funds to take care of themselves. 


This part of the article got my attention. The research discovered that households who are going through financial problems are prone to diverting investment sums to gambling. This might be because the poor see gambling as a source of income. Gambling addiction has been a major problem in the United States. To reduce this national problem, some states went to the extent of enacting laws to restrict gambling. The ease of accessing gambling platforms and the poor economic conditions are playing a prominent role in increasing gambling and reducing investment. 

Maybe this could be done in other countries, not just in America, because I believe it would have the same result since gambling is more accessible than investing. I imagine how they think about having to learn even to open an account and deposit money, which is already hard for some people. So this could be the same for every country.

The part where you don’t have to think anything and could win large prices is probably enough to entice someone to gamble instead of investing.

Does that suggest that because there are more plebs betting/gambling on sports, and less of them are gambling in stocks, then the sports-betting "markets" might have more inefficiencies which could also suggest that there are more opportunities to make money?

Which sports have many plebs who merely want to bet and watch?

🤔

Yes, the news you mentioned is accurate, I've read about it, America has the highest record level of income in sports betting reaching $10.92 billion, as I read in one of the sources that mentioned.
Americans Spend More Money Betting On Sports Than Investing In Stocks. (https://earnyourleisure.com/news/business/americans-spend-more-money-betting-on-sports-than-investing-in-stocks/)

America is different from China, on the one hand, China is more likely to carry out investment activities, while American society is more dominant in sports betting. It is not surprising and doubtful that in America there are hundreds of online or physical casinos operating there, This shows that sports betting is more dominant in America than investment. I'm sure the growth of sports betting activities continues to increase there and that's something out of control.

I am pretty sure there are some developing countries in which it is more common for people to gamble than partaking in their stock market or the stock market of others countries as well. That is specially possible if we talk about towns and communities which are rather isolated technologically and manage more cash than electronic money or electronic transfers/wiring money.
Let us take a look at Nigeria, for example, there is very active gambling population in the country, so much that it seems gambling has evolved to be part of their culture, while on the other hand, I have not heard news about the Nigerian stock market or private markets from Nigeria at all, so it is easy and straight forward to reach the conclusion there are more gamblers in Nigeria than there are investors.
But that is an obvious example, let us take a look at other countries, like Venezuela, which has an stock market in the capital, but the volume of shares is so low compared to the size of the gambling and betting establishments in the country, that it is fair to reach the same conclusion one did with Nigeria.

In general, in developing countries there will be always be more gamblers than investors. The reason for it it is a question of debate itself, by the way. The consequences are also complex, in my opinion, I could not tell at first glance how serious something like that could be for the macroeconomics of a country which tried to reach higher standards of living.

For sure there is but its not something that us people should really be having that kind of attention on whatever the things that they've been doing. Its their money then its their right on where
they would really be using it or where they would really be focusing into. We cant just that stop on trying out to correct someones doings and making out some words or advises as if we had
really that totally reached out that pinnacle of success. As long these americans hadnt bust out themselves on playing gambling then it should be fine. Just like on what others been saying
that we dont even know if these people are already that invested to stocks and tend to have some leisure time on which they are playing gambling just because for some leisure?
Also, if it turns out that they dont have stocks investment then so what?

I will not blame the people because they can easily find a means to gamble by learning how to do it conveniently, unlike making an investment on stocks which may requires from them to undergo some procedures, another reason to consider there is the fact that gambling is all about making fun, which everyone will like to participate in it than to invest on what they have just little knowledge on how to go about it, though this is not also a justification that everyone is a gambler, but people will appreciate anything under the atmosphere of having fun more better than investing on stocks.

Are you telling is that Chinese society is "more responsible"? Do you have the data to support such an assumption? Because there might not be enough data on Chinese society and gambling because probably most of them are participating in illegal gambling.

¯\_(ツ)_/¯

Chinese society, gambling is something that's deep-rooted in their culture. The biggest Asian gamblers probably live in mainland China and we merely don't know anything about them.

Yeah many people are obsessed with instant money due to high social expectations created in social medias. Investment looks working if you're have a lot money and can wait for at least 4-5 years in order, your money will compounding over and over. Even though Bitcoin doesn't have such kind interest, but gains can overtake the compounding interest from other assets.

This article seems to misconstrue and intentionally mislead the viewers. It actually describes falls in stock market investments, not that Americans are spending more on betting than investments. It looks intentionally engineered into a clickbait article but I highly doubt Americans are only spending $10 billion a year on investing, which is the revenue it claims that gambling companies are making. It also ignores the fact that all pensions are effectively invested in the stock market and will be making many multiples of that for the owners. As someone who claims to be involved with finance, surely you could have picked up on these obvious discrepancies?

Investing assumes that you are willing to wait several years for a profit. Investing in government bonds doesn't really yield much when you take inflation into account. Investing in stocks is riskier than investing in government bonds, but you can make good money. Cryptocurrencies are super risky investments that can bring very good money. But no one ever gives any guarantees, besides, all risks are borne only by the investor. I think many people choose gambling because they do not want to understand all this and are not ready to invest for such a long period. In addition, they see gambling not as entertainment, but as an opportunity to make a quick buck. But we know that they are mistaken.

It's not just instant money we need everything instantly, if you want an appliance now you can just pay a small amount and pay the remaining instalments, we don't even have the patience to watch long videos that's why tiktoks, and youtube shorts are getting more vies than 5-10 mins videos on average.

It looks like people don't have time but in reality they have a lot but they are spending them on wrong place instead of where to focus.

There is a kind of classification worldwide like 'spending economy' and 'saving economy'. USA falls into spending economy and such people will never find differences between bitcoin and gambling which means they may use bitcoin for gambling like believing that bitcoin was created for that purposes.

In saving economy, I again think that people will never treat gambling and bitcoin for same agenda.

You have made a reasonable point, from my small knowledge here I would like to say that one should gravitate towards investing rather than gambling to earn more money. Because gambling is not seen well by any person in the society. There are people around us who are addicted to gambling and have destroyed all their money. As far as I know very few people are successful in gambling. Gambling is more about losing than winning. Although there is some risk involved in investing, I still think it's better to invest aggressively

I see your point. Investing may take a longer time to see your returns, while if you get lucky with gambling, you will gain instant profits more than your investment is capable to give. However, we all know gamblers aren’t lucky the whole time and so losing is highly inevitable. So if these people do gamble only with their spare money, there’s nothing wrong with it, at least they come to enjoy both, investing and gambling without putting too much pressures on theirselves.

Americans (mostly younger) are choosing to gamble on sports betting rather than invest in the equity market. They know that investing in the stock market is like gambling. But, it gives you long-term returns. So, they're choosing the simplest way to gamble on sportbook. It's sometimes gives you a decent return on your money in a short time.

Those youngers aren’t too concerned with long-term investments. They're seeing stock as pretty much the same as gambling, but it's in a legal way. Also, the trend of doom spending among these youngers makes it even worst.

Some young people who gamble must have benefited from the winnings they got and I think this can influence other friends where maybe other friends can think that they can also benefit from winning in gambling, therefore young people prefer gambling that seems easy and fast in its benefits. In fact, I think it's not only young people but also some people who may be old have had thoughts like this. I agree with you, indeed the younger generation tends not to be too interested and care about investment, because most likely they only want things that are instant and gambling is one of the things they choose. Now if examined more deeply by asking them whether they gamble or not, I'm sure most young people definitely do it.

Yes making money through investing is more important than making money through gambling but I think we should look at these two mediums separately. Short term investment is very risky which many compare to gambling but people invest only to get profit. There are many people in the world who consider gambling not only as a means of making money but also as a means of entertainment. The reason gambling is frowned upon in society is that many people become addicted to it and it creates social disruption, but if you can manage it in an orderly manner and with the money allocated, it can be positive.

However, it can be concluded that gambling and investment should be considered separately because investment is a relatively reliable means of earning money, on the other hand gambling is an uncertain means of earning money and gambling should be considered as one of the means of entertainment.

You can invest S&P 500 (SPX) and see it grow in the long term, but you are right - most people choose the thrill of gambling, the one which is understandable for them and is short-term, so to speak.
It's the truth.

The thrill of gambling is like taking cocaine.

Once you have a taste you won't mind ending up in the street, I guess this is the American dream these days, crazy people living in Las Vegas, spending all they in the casinos just to hit the jackpot and never work again.

Things don't work this way, you will never know what's in store for you, to find out how lucky you may get you need a solid foundation, whether you are a gambler or an investor wannabe, you need to put them aside first and set up your life, make money the hard way and build yourself some solid income stream.

From here on you can start to use part of the money you make from your income stream to invest in crypto, stocks, or casinos, your income stream is what will keep you going if something bad happens, you can easily start all over again because you have income streams.

Nothing else matters, your income stream comes first before any investment or taking risks on gambling.

Decades ago, many people in my country were thinking that the Americans know how to make money and grow their wealth.  ;D
That was a dumb lie. Most Americans are as dumb and financially uneducated as the rest of the world. Most people around the world have debt and are living paycheck to paycheck, the majority of the American nation is no different. I'm also convinced that that gamblers are usually the most financially uneducated and low IQ demographic. I can assume that this is a result of the collapse of public education systems in the developed world. 90% of the people don't know how to invest their money properly, so they just start spending money at the casino/bookmaker.

I would say that they would investment in stock also, if the whole process will take them few clicks. I dont think that to start investing, you just need to open first link in google, register and deposit within a minute, and you are ready to go. A person must find a broke, analyze asset (even though when placing a bet some analysis also needs to be done, but it is very simplified), go to bank account (is it possible to invest by using a credit card? I dont think so). I.e. whole process from start to end take a lot of time, when on the other part of scales we have few clicks only.

You know one thing about gambling is that it's very easy and simple to gamble especially when it comes to online be it local gambling shops it's very easy to go with than the rest and, most young people thinks  gambling is the quickest way to make money without knowing that is another way to easily lose money if not carefully followed. Of course there are people who are making waves through gambling and they are earning and aiming big from game the thing is everyone luck must not be the same in gambling and, when luck is far from the gambler he would keep gambling and losing without even winning for one single day.

The problem with the generation today is that they're concluding that gambling is also something compared to investment. But that's off with the comparison because gambling will never be an investment not unless, you're someone that invests on these casinos like what they have for giving those dividends and returns. I think with that narrative, we can say that gambling certainly is a good investment for that person. However if it's the actual gambling activity, we would all agree that it's not really what it is.

And to those that are relying to their type of living and they'd say that life is a gamble so why not gamble? They probably have given up on this life even if the opportunities are knocking on their doors, they're ignoring it. There is more to do not only to gamble and to invest but to enjoy every cent that you're earning whether it's from your salary, from investment profits, from gambling or whatsoever. You only need to find yourself comfortable with the things that you do and as long as it's legal and you're not troubling other people's lives.

Both can make one rich on then long term but then investing is much more advicible. The reason why most people fails to see how investment is better is because the want to make a quick profit and enjoy their fortunes. Building wealth takes time and experience. It doesn't actually matter how you do it, but if you are able to build your wealth, you become a master at what you do. I've heard of lot of people who made it through gambling and some others who got ruin because of gambling. Investment also has its own risk that why you have to find what best works for you., you don have to follow the crowd

Emphasis on the long-term , how long are you going to wait to take your profit? That's where the problem lies. You can not just assume to have invested in a certain stock without certainty of when your profit is due to harvest while you have a similar way that gives results in a blink of eyes. Patience and risk are the two things to take note here. Investing in stocks requires a lot of patience for as long as possible but the risk is very less. The recent generation choose to risk over patience not only in America but almost every part of the world. Gambling is easily accessible and can transform your life from nothing to something if you hit the jackpot. On the other side, you can also fall from hero to zero if care is not taken.

When you have written young people, I remembered that at my youth it was popular, modern and you looked cool if you say that you play poker. Does not matter if you go to offline poker tournaments, play online or offline among friends - if you play poker, you are cool. I think the same thing goes with gambling and youth today. If you say you gamble, people might think that you are cool and rich, because you can allow yourself to spend (or probably lose) money on it. But if you say that you are an investor, some might even start to smile and laugh, because you are acting like a successful adult with a large yacht.

People measure success by the way you look and accessories you have. If you say that you are an investor, they might ask where is your huge house with pool, yacht, private jet and etc. People might think you are a liar. But if you say you gamble, and show latest mobile, dress in branded clothes, have a golden chain. People want to be like you. That is why today being a gamblers means be cool.

Exactly, it means that everything that looks profitable or more profitable will always be directly proportional to the risk, especially in the type of cryptocurrency investment, so it all comes back to our readiness in terms of accepting any risk with full awareness because as you said that all risks are borne by ourselves as investors.

And as you believe, which I also agree with that because of all the complexities, that's why some or maybe even the majority of them prefer to divert their attention to gambling, it doesn't mean that gambling is risky, but the complexity and patience that someone must have when they choose an investment is one of the biggest reasons for them to prefer gambling where they just sit back, watch, guess and press buttons, and in fact, of course, in the long run, gambling will be much riskier, because when you spend 4-5 years to be patient in investing, then maybe you will get the profit you expect, but if we talk about gambling, it's clearly the opposite, because after all the bookies will always be the real winners.

That still can't be compared to investing. I think what we're really comparing here is that Americans love to have fun more than focusing on growing their money. I used the word "fun" because gambling is seen as entertainment, and its typical emphasis is on spending, which fits the definition of gambling.

Americans are working in a country with a strong economy, so most are probably satisfied with what they earn. When they gamble, they don't see it as another source of income but rather as a way to entertain themselves and maybe try their luck at hitting big money.

It's a bullshit to think gambling will make one rich in long term, your post remind me with a thread where it discuss to treat gambling like an investment, hell no. This is similar like Freebitco golden ticket to win Lambo, the winner doesn't mean he earn, instead if he spent more to bought golden ticket than the Lambo, he's in loss.

Investment has it's own risk, but it doesn't have a system to make you're in disadvantages.

It is not surprising since we can see how easy gambling access is in America and it makes more people gamble than investing because it is easier and faster for them to access. It also offers a chance for someone to change their life overnight, even when the chances are small and the results are much faster, compared to hoping for investment in stocks. Things like that are strong reasons why many people put their hopes in betting on sports in order to get rewards that they can use to meet their needs or other things in the midst of a difficult economy.

But that's not how it works. It cannot change the life of one human being overnight because the system is made to make us lose.
We may win in the short run but in the long run, we are all on the same page and that means we are going to lose. Accepting this reality will mean everything to us because we know that nothing can be solved by gambling.
It's wrong to say Americans spend more money than we do because once we convert our local currency to USD, we will know that we spend more than them.

It seems to me that the article incorrectly takes into account the volumes. If a gambler lost $100 while betting $10,000, then they probably think that he "invested" $10,000 in gambling. Otherwise, it is quite difficult for me to believe in the relevance of the data. At least in developed countries, the population actively invests in the stock market and in my opinion these volumes should be greater than the expenses on gambling.
And personally, I also spent a lot on gambling and never spent on the stock market - in my country it is a scam, so I prefer crypto.

They misunderstand the theory of gambling by assuming that gambling can change lives overnight to become millionaires, many gamblers out there still believe this to become millionaires overnight without thinking about the risks that can worsen financial management, they do not know the gambling system or algorithm can easily affect gamblers if they do not have good financial management knowledge will gamble with full risk.

I am not surprised that the fact that Americans are more involved in gambling because the dominant area of ​​casino heaven is listed as the largest in the world, so a lot of the country’s population is involved in gambling.

Yep it gives them a chance to change their lives overnight and that's the problem.
They are living on a mindset where they believe themselves that putting their money into gambling would be beneficial for them instead of putting it on an investment.

As for access, it's true that it's easy to access both physical and online casino right now, but I don't believe that there's a problem accessing with these brokers as well. The problem with them is that, they always want to YOLO, and their patience is just short. No surprise since studies shown already that an average person has very short attention-span than the people a few years ago, and because of this, they can't afford to wait hence, they're YOLO'ing their money and instead of going to a more conservative route, they prefer the aggressive, risky one which is gambling.

Kind of unfortunate but like what I always say, people will not learn unless they will experience it themselves. :)

I hope people can soon get to understand the differences between gambling and investments, being it physical investments or digital investments. this kind of thought is among reasons why people put in all their funds in gambling thinking it's investing. The standard should be. Don't bet what you cannot afford to lose. No matter how sure you are in any gambling game, do not allow your emotions to lead you astray by allowing you to stake an amount of money that you cannot let go. My standard is this. Out of all that I earn, I can only bet around 1% of it into a gamble and that's the risk I'm ready to take for the gambling game. I don't by the idea of trying to invest your money into gambling with emotions hoping that God will be on your side for taking such huge risk.

Ive seen people who import God's sympathy into their gambling decisions thinking that God must be with them to succeed. While God doesn't hate you for who you are, it was never in support of God to make such gullible decisions thereby you should not seek for his sympathy and expect to be rescued. Again, gambling is not a do or die affair and if you don't gamble, no one on the surface of the earth will hold you ransom of your decisions.

true, it is very difficult if want to change your life to be rich through gambling. because such concepts are rarely applied by gamblers. what I think is that wanting to change your life to be rich through gambling might only result in losing money because the target effect that exceeds the miracle is not controlled overnight. we only plan and luck is different, that path is luck.

It's not a surprise. Most people are financially illiterate, so it's pretty normal that they don't invest. On the other hand, it was proven that people who held assets had more money in 10 years than those who did not. You don't have to be a trader, just buy things like land and you will get value from that. Maybe it won't be in the first 1 or 2 years, but eventually you'll see that your fiat money is slowly becoming worthless.
As for lotteries and such, poor people feel forced to make money somehow and they love hope. Buying that lottery ticket gives them something to think and be excited about.

On the moment that you  already thinks about gambling as already a source of income or becoming rich then it do shows that there that too much anticipation you do have towards gambling on which you are considered to be already on addicted side of things on which we know that it can't really happen considering that gambling heavily does signifies desperation on achieving something which it's not realistic at all. Going back into the sense on buying stocks then it would really be that just normal or be having that difference in between some who had already done it or totally just that forgot it because they've been expecting something beneficial but it does really need up that work.

In this condition, although the words you said are true, in the end, when gambling has become a habit that we do or by people in the environment around us, indirectly this can also be a condition where it will be very difficult for us to change habits that occur due to environmental factors that are ultimately not very profitable.

Gambling itself is always an attraction and not a few people even make gambling as something that must exist or that they must do every day which makes the condition uncontrollable.
Although there are not a few people who realize that gambling cannot be used as an option to make them change from the economy, in the end no one can resist the temptation of gambling when they have experienced the sensation.

Irrespective of people view about stock investment and gambling might be different like seeing things differently from a specific angle can also lead to this result.
Most people don’t know about stock investment or they’re not just ready to invest meanwhile anyone can still invest and gamble at same time, the only difference here is gambling rate will always be higher than stock investment rate also the popularity that comes with gambling is just special that’s one reason people learn about gambling everyday.

uncontrollable and forcing themselves to want their lost possessions back by complaining unconsciously. they are in a wild yard. addicts will feel comfortable with the great sensation that wants great things to happen again and again, their pleasure will not bring them to their senses at the beginning they will continue to achieve targets like others. it is indeed difficult to return to the beginning

Another added factor is that most people don't understand the stock market as much as they can easily learn about gambling. Gambling too, they can use as little as what ever amount they can afford to place their bet compared to the stock market, where they need an exact fixed amount before they can afford to purchase a share, and gambling also gives them the advantage of multiplying what they put inside in little time, not like stock, where they need to wait for stock value to increase before they can start making profit.

I think the aspect of money involved is where the problem lies, honestly investing in stock is totally different from gambling because a person must be financially stable before going into stock and at the other hand gambling starts with little money. Some people can still view stock investment as a long term investment so reasons are much, one must be very careful making choice when it comes to investment because it might come with ups and downs when a person is not financially stable, let’s just accept the fact majority of people will choose gambling always.

Actually, I think gambling is indeed an entertainment and I think this game is only for rich people but the problem that occurs is poor people who are too serious in this game. But if the reality is that Americans prefer to have fun then gambling is one thing that can be done to find pleasure including those whose financial situation is unstable, because that is their own problem.
Gambling by trying their luck to get more money is one way for them to become addicted, consciously or unconsciously I think they will become addicted. Unless they really gamble just for entertainment then maybe addiction will not occur. We all have a way to entertain ourselves and gambling is one of them but it all depends on how we do it.

And another fact why people may simply choose or spend more in gambling over investment and which is why the survey results that maybe even the case even outside America, people would spend more in gambling than investing in stocks, is simply because gambling's pacing is faster and less complicated compared to stock investments that needs different approaches of analysis to understand the market to minimize the risk of losing.
Also, gambling is a form of an entertainment, so majority may surely find it more enjoyable than trading, so there's that.

Now that mistake that should be able to straighten out of the mindset of most people, indeed stock investment also has large risk that is the same as gambling but basically investment works in the long run and this will be like we employ money to make money.
Approach to gambling is often misinterpreted by most people, most people still consider gambling the same as investing where they will think to make money faster and they do not realize that the risk of gambling is instant.
I quite alarming people who are willing to lose large amounts of money to gamble and pursue victory, they cannot immediately realize that the risk of gambling will have very bad impact in the long run when they have mindset to gamble as place to make money.
In addition there is also mindset that considers gambling can always use money in any amount and investing must be with the use of very large amounts of money, this is also one of the reasons why gambling is far more popular than investing.

Or people are so fed up with casual forms of entertainment (for example like going to a movie, watch sports game (which stimulates to place a bet), spend time outside) that in the search of new ones, they have stopped at gambling. Because it is both entertainment and a chance to win. When investing is kind of a work. People would rather have fun and might earn, that only might earn. Digitalization has helped a lot to attract more people to gambling also.

..Or they don't want to put much effort into the earning part.
Gambling gives that, but with the knowledge that luck is the biggest factor still.
And people sometimes forget about it.

some people even consider investing to be more risky compared to gambling  because of the thought of only getting the returns from an investment after a long period of time when at the point, they are mostly in search of quick gains. And the way we've gotten exposed to sources of gambling through their presence on most of our environment and the gambling ads that's flying around the media, almost everyone is conversant with gambling more than they know about stocks, Bitcoin investments or even real estate.

The intricacies that's associated with most of these investment doesn't get into the public dorman that much unlike the updates on prediction sites and bonuses that's given through Betting channels. and a lot people don't even know how they work and don't understand at what point they start getting dividends from the stocks they are to buy. You tend to go into what you're familiar with or what most people around you are already doing and when it comes to that, gambling is more popular compaired to stick which is the main reason why people will generally choose gambling over it.

Interesting, I think people who are struggling financially are probably the ones doing a lot of gambling.

This is because they get an opportunity to buy hope. A hope for a better future that they simply cannot see in their present lives.

Sure, it doesn't make sense to gamble in that situation if you do the math, but they thing is that hope can be a powerful thing.

It can create a positive mindset that allows people to continue with their lives...

Having said that, I completely agree with you, and it is a slippery slope, you can lose it all while gambling, and the most probable outcome is that you're going to lose.

Sports are made fast, end fast. Stocks take time and people have reduction in patience over the generations - so that equals less investment in stocks and more in sports betting, although the latter is never an investment but a luck based game.

Irresponsible of a person to do this though and that as rightly pointed out by the OP, comes from the lack of basic finances knowledge. Every portfolio must have a range of risk. It should not a completely high risk or a completely low risk portfolio. Here gambling and crypto (at this current state) are risky assets while bank deposits are less risky and stocks come in between.

Having the balance shifted to only one side is a stubborn move. Gambling will always be a win for the casino and not the player, however skilled you might take yourself to be.

Yes I understand that that is the actual context of the conversation, but above I draw a conclusion related to what our friend @madnessteatt said which directs the context to people who prefer to divert their attention to gambling rather than investment because they are not ready to be patient and also go through a complicated process in the long term, and I think that scenario does happen to some people, you can read it again my friend.

On the other hand, what you said may be true that with the advanced economic situation, Americans only make gambling as entertainment, that may be true but I am sure that not all of them, or what I mean is that there are always some people who do have the goal of multiplying their money without us knowing. On the other hand, I think I will not only make Americans the object of difference, but maybe I will conclude in general that the point is when people (whoever they are) gamble with the aim of just having fun, then they are those who understand and understand what is meant by the chance of winning and understand how dangerous the risks are that can be caused regardless of whether you are American or not, or regardless of whether you are rich or poor.

Who does that? There is no way investment can be a lot more risky compared to gambling. Have you considered the differences? Gambling has no guarantee for success and when you lose in a bet you lose completely the amount used in staking. When investing you can watch your investment and if you invest in the right asset after gaining knowledge in it you are more likely to be successful in your investment. In investment, you can gain huge knowledge that will work for you when you apply it. I don't think it is possible in gambling. There is no level of knowledge in gambling that can guarantee you success.

I completely agree with some parts of your answer. Going to the cinema, traveling somewhere, spending energy; movement is necessary. However, dozens of casinos that are now available on the Internet do not require any physical effort. All you need is a bottle of beer, some fast food and a deposit, which can be paid right there with a card or crypto. Isn't it entertainment? People have become lazy, but at the same time, their passion for money has not become less. In addition, the American pace of life is quite fast, and anyway, people need spectacles, so they have fun playing in a casino, especially online.

The highlighted text is quite biase, because I believe that there's some knowledge gained from the experience of gambling activities, that makes one almost as sure as going home with a win depending on the kind of games gambled on.
Still, I don't think the stock market is as popular as was in the '90s, because of the emergence of cryptocurrency and other innovations that has made anonymous investment possible.

People these days, no matter the continent they hail from, would rather let you or the government believe they make nothing but losses while gambling or betting or enjoying the rewards of an investment you didn't know about.

I agree with you. By choosing the right currency and investing for the long term, an investor can grow his wealth. As is the case with investing in Bitcoin. I think the relationship between gambling and investing is very controversial and unsupported. Many may compare short-term investing to gambling, but I believe that losing money in gambling means losing money and never getting it back. Investing in crypto will involve risk but you won't lose your wealth if you can hold it for the long term. It is very important that you choose the right crypto.

It can be concluded that gambling is mostly controlled by luck where experience does not help much and most gamblers lose but they continue to gamble because it is a form of entertainment. Crypto investing on the other hand is one of the most profitable avenues for experienced investors where an investor can make huge profits.

You do make a good point in that hope can create a positive mindset which is important to ones overall "being", but I wouldn't equate false hope to creating a strong mindset for one's outlook.  You can have all the hope you want bit if you're continually losing at placing bets, well then you've likely not got very much hope after all that time.  Plus hope doesn't fill one's bank account. 

If I were poor, I'd never gamble, ever.. It doesn't make sense financially or mathematically.

Gambling will be more risky compare to investment. But investment can also give a risks if you don't know how to pick the right investment.  In this matter, if they rely on gambling to make money, they should regret it especially when they see the losses coming to them without they can not control themselves. That can happen to with those who invest in a large of money without research for more to find the investment as many people already lost their money in investment.

But yes, gambling temptation can tempting people easily with "win easily with us" so they will start to playing gambling. Many of them can not control themselves in gambling so they will lose much money besides ruining their lives and their family. They should realize that they need to save their money and not spend in gambling because they must prepare for their future.

And this mindset is only for the middle or upper class people, why? because this mindset can make them to escape from poverty, unlike people who don't care with financial status and keep gambling, they will become poor.

Sometime it's easy for us to think the reason why people are poor and what they should do to escape from it, but we were not in their shoes, so we don't really know if we're really poor and what we think at in that situation.

This days alot of people are being triggered with gambling and they tend to source for means to get more money even the little they have the rather spend it in betting or gambling than invest in something profitable and secured.
I believe when it comes to betting the Americans always are top in this and I wonder the joy they get spending more on betting than investing it but you can still find a major percentage of people that gamble and still invest also.

But spending money on bets when not acquiring wins daily should be minimized cause certainly it gets to point one can afford to bets and gamble so how do they cope with that. I think not all Americans died this tho but they definitely love gambling and sports betting.

the same thing happens in Brazil, I think it's a symptom of the zeitgest because the cost of living is so high now and people are so desperate to have a change
gambling has the perfect combination of factors, making possible to win big with little effort
people want this

it's always easy than working.

I agree with that sentence, “if I were poor I wouldn't gamble”, logically if I have a financial mindset that wants to grow, do I have to have fun when I'm still poor? is it worth it if my finances are not stable I do gambling? of course I personally would not say it's worth it for me to gamble.

Yes we can only assume about the diagnosis of the reasonableness of our subconscious on this matter, so we can speculate even though we don't know what they are experiencing and what their conditions are like, but all of that can be studied and understood in general why some people want to gamble, we will know which orientation is in which direction and can conclude for ourselves, even though it is just an assumption.

People who choose to gamble over investments and spend reasonable amounts on them are clueless. I know, gambling is fun and the rewards that you can get are quick and there is no waiting required, but that should be a different thing. You can have a budget for your gambling, keep it moderate, and use it to gamble whenever you like to have some fun, but don't spend too much money on it, use your money for something that can be useful for you or your loved ones in the future and gambling can't be that.

Sports betting in general isn't as bad as gambling games because in sports betting, if you know what you are doing, you might not be wasting a lot of money because if you understand a sport very well, you might win 3 games out of 5 or maybe more, and if the odds in the won and lost games favour you, you will be in profit. However, it's still better for someone to have a fixed budget for such things and there should be active investments alongside.

And having this kind of thinking on which it would really be bringing out someone on being becoming desperate.Yes, it can possible to happen to make you rich on the moment you do gamble but of course it will really be needing up that extreme luck for you do be able to do so.Its never been advisable that you do make yourself having this kind of thinking because instead on reaching out your goals, you would rather be ending up on sleeping up on the streets.This is why it's really that important that you should be wary on what gambling is all about so that you won't be ending up on a shit situations. As for the topic in regarding about investment and gambling then we aren't that blind in regarding their differences on which it's pretty obvious on which one is really that more viable and worth for long term and something achievable.

Human beings are naturally that too lazy and always up preferred on doing things on which something which is easier and something that won't be doing any having some hardwork and time effort .Sooner or later they would really be making out those kind realization on the moment that they have lost too much instead of gaining.Doing gambling is never been prohibited and everyone does have the right on playing for the sake of fun.I do agree into other sentiments that those people who do gamble might already have some investments that they do have and just wanting for them to play gambling or betting.Theres no wrong with gambling as long you do make yourself that responsible on any actions that you are taking.

You are mistaken in thinking that only Americans live by this principle) The fact is that ignorance about finance is inherent in all people, with the exception of only a small part. And if today's income allows you to have fun, then people tend to use this opportunity.

Or because Americans are so frustrated with their economy right now, high inflation and rising unemployment numbers that they may be looking for a quicker way to make money in gambling than investing.

Investing is very saturated and takes a long time to make a profit, while trading is also very difficult in the current market situation, with the current economic situation and the threat of recession the risks are also high.
And or because they are so frustrated right now that they need a lot of entertainment, maybe that's why they are running their money to gambling. lol

Statistically speaking they have the highest gamblers in the world and it's an undisputable fact, take a look at the likes of drake and many others that throw millions of dollars into gambling not for even the purpose of making more money but for fun and entertainment. America also the country with the highest casino activities in the world, most of the popular casinos are in las Vegas, this is where billionaires throw their money. They spend more money on gambling than investments, this should be concerning but it doesn't matter how much these gamblers lose they have enough to spare