CNBC SPECIAL: Generation Gamble Part 1

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.9 • 1.3K Ratings

🗓️ 10 November 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Generation Gamble” provides an in-depth examination of the intersection of betting, trading and gaming, exploring what is at stake for everyone involved and how taking risks can be as easy as a tap on an app. As a result of the COVID-19 pandemic, online activity increased dramatically, leading Gen Z to reevaluate how it makes and uses money. CNBC’s Melissa Lee profiles avid college-aged users of online betting and investing apps illustrating their ease and willingness to take risks. Then, Lee travels to Boston, where she interviews the co-founders of DraftKings and discusses the rapidly growing popularity of sports betting as it becomes legalized around the country. The episode looks at other industries getting in on the action and what DraftKings is doing to promote responsible gambling among its users. Lee explores the potential downsides of betting and investing behavior as well, through people dealing with addiction and the experts trying to treat them. With an estimated four million Americans suffering from compulsive gambling disorder, CNBC shows firsthand the potential dangers behind constant access. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	The restrictions on crowd sizes have even reached the strip.
0:05.6	When Las Vegas went dark during the pandemic, our screens lit up.
0:18.3	For lockdown consumers, a new range of apps made betting, gaming and even investing
0:24.2	easier than ever.
0:25.4	My friends personally supports betting or investing, any way they can make a quick
0:29.5	bet.
0:30.5	Oh, we need to miss.
0:31.5	You bet a lot.
0:32.5	Yes.
0:33.5	You bet often.
0:34.5	I do.
0:35.5	Almost every day.
0:36.5	For a generation raised on smartphones and influenced by social media, I'll show you
0:40.7	exactly how much you miss.
0:41.7	You can become a millionaire without doing any research.
0:44.7	Some apps have encouraged more daring attitudes towards money.
0:48.1	You open it up every single day and you're like, oh my god, I just made 700 more dollars.
0:52.8	People are saying you could be a millionaire.
0:54.6	It doesn't feel like real money.
0:55.9	Just because it's so easy, it's almost the same thing as going shopping online.
0:59.5	With the explosion in online betting and investing apps, is business simply giving us what
1:04.8	we want?
	...

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