Financial Advisors React to INSANE Sports Betting Takes

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 28 February 2025

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We've had SO MANY financial mutants sending us social media videos about sports betting. From astronomical losses to con artists selling courses, you want to hear Brian and Bo's take and now you can! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:29.7	I talked to my dad a little bit.
0:31.6	I had to be like, I don't have any money.
0:34.2	You know what I mean?
0:34.6	Because I did genuinely lose a lot of my money I had.
0:40.7	Hey, hey, hey, welcome to another react show from The Money Guy show. I asked the team. I said,
0:47.6	what have y'all put together for us? They said, it has to do with Spider-Man, I think.
0:51.2	Hey, it's something to do with sports betting. Brent, I am so excited about this,
0:55.5	because sports betting has taken the world by storm, but is it a sound financial decision for you?
1:02.4	Let's dive in and see what the internet has to say. For every dollar that you put toward sports
1:07.3	betting, household reduces their investment or their investing behavior by $2.
1:13.3	You're not really?
1:13.7	You're wondering, okay, so why is there that doubling effect?
1:16.8	$1 wager, but it's $2 out, right?
1:19.6	That's because we spend more when we bet on sports.
1:24.3	We spend more on streaming services.
1:26.6	We spend more at the bar when we're watching
	...

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