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Earn Your Leisure

Is Online Gambling and Sports Betting Hurting the Black Community?

Earn Your Leisure

iHeartPodcasts

Education, Entrepreneurship, News, Business News, Investing, Careers, Business

4.87.8K Ratings

🗓️ 26 November 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

In this powerful clip of Market Mondays, hosts Rashad Bilal, Troy Millings, and Ian Dunlap dive deep into the targeted marketing and massive impact of online gambling on the Black community. Rashad shares eye-opening insights on how billions of dollars have been strategically funneled into promoting online gambling through influential platforms like popular podcasts and celebrities, including Drake and major shows like Joe Button's, Gillian Wallow's, and Shannon Sharpe's.


Rashad recounts a personal story, highlighting the rapid growth and consequences of online gambling over the past few years. He emphasizes the risks and negative outcomes such as debt, broken homes, and even life-threatening situations in places like jail settings, urging the community to be cautious.


Furthermore, the hosts discuss how gambling, likened to addictive substances such as alcohol and drugs, can ruin lives and disproportionately target vulnerable, poor, and uneducated Black individuals. Rashad opens up about the history of these tactics, comparing it to the lottery practices of the past that devastated his family and emphasizing the need for a broader conversation and investigation into such predatory practices.


Troy and Ian add their perspectives on the economic aspects, discussing the financial benefits seen by companies like DraftKings and FanDuel. They advise viewers on the importance of investing in more stable, albeit less glamorous, assets like stocks, real estate, and government contracts, which are often overlooked in favor of more exciting but risky ventures like gambling.


The conversation aims to shed light on how the most lucrative and stable investments are marketed as boring while riskier, more thrilling industries dominate attention and often yield smaller dividends in the long run.


Join us for this enlightening discussion as our hosts challenge the status quo and advocate for financial literacy and investment education as a means to empower the Black community. Hit the like button, share your thoughts in the comments, and don't forget to subscribe for more insightful content from Market Mondays!


*Hashtags:*

#MarketMondays #OnlineGambling #FinancialLiteracy #BlackCommunity #Investing #PredatoryPractices #DraftKings #FanDuel #Stocks #RealEstate #FinancialEducation #WealthBuilding #GamblingAwareness #InvestSmart #Empowerment



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Transcript

Click on a timestamp to play from that location

0:00.0

Hey, order up.

0:03.0

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0:08.0

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0:15.2

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0:21.7

like a flexible spending limit that adapts with your business. And with five times membership rewards points on

0:26.8

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0:32.5

even more rewarding. That's the powerful backing of American Express. Not all purchases will be approved. Terms apply. Learn more at Americanexpress.com

0:41.6

slash amex business.

0:44.7

And the online gambling situation, billions of dollars have been targeted to our community, specifically to the black community.

0:53.0

Yep. And it's worked. And it's worked and it's worked.

0:55.2

I know firsthand when I saw online gambling five years ago, shout to my man Larry, he he won

1:01.3

big and it wasn't as big as it is now, nowhere near as big as it is now. So I actually watched

1:06.0

the growth happen over the course of top and it was strategically done. They have Joe Button

1:10.7

podcast. They have Cameron Mace's podcast. They have Gillian Wallows. and over the course of top and it was strategically done they have joe button podcast they have

1:12.1

cam and mace's podcast they have gillian wallow's podcast they have shannon sharps podcast i mean you name

1:20.4

it right they have uh gilbert arinas his podcast so it's like man they spit they have have Drake as a brand ambassador. Like, people don't even realize what's happening.

1:32.0

Because they just like, oh, Drake lost $350,000. So you got probably a $100 million contract.

1:37.0

Easily. And it's work. And it's bar stool.

1:44.6

It's one thing.

1:45.8

Like even I was talking to my cousin and a few people in jail have told me this.

1:49.4

Shout to my guy, Alvarez.

1:51.2

Actually, I'm going to be an honorary on Wednesday.

...

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