Rolling the Dice: Can Sports Betting Really Pay Off Like the Stock Market?

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 23 October 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn the key differences between sports betting and investing, plus tips for managing the financial risks of gambling. How is sports betting different from investing in the stock market? What are the financial risks and benefits of sports betting versus stock market investing? Hosts Tess Vigeland and Anna Helhoski dive into the booming sports betting industry, examining the legal landscape, growing popularity, and potential risks. Investing Nerd Sam Taube joins the conversation to break down the key differences between sports betting and investing, highlighting the consistency of returns in investing and the addictive potential of short-term speculation and expanding on the financial and psychological dynamics that separate gambling from more strategic, long-term financial decisions. Then, Tess and Anna cover recent key financial headlines, including a rise in retail sales as holiday shopping ramps up, the Federal Trade Commission's new "click-to-cancel" rules for subscriptions, and the Department of Education’s decision to penalize the student loan servicing company MOHELA, the Missouri Higher Education Loan Authority. 4 Free Budgeting Templates & Excel Spreadsheets https://www.nerdwallet.com/article/finance/free-budget-spreadsheets-templates In their conversation, the Nerds discuss: sports betting, investing, stock market, gambling vs investing, financial risks, long-term investing, sports betting addiction, sports gambling, investing tips, gambling addiction, stock market returns, financial habits, betting apps, investment strategies, sports betting apps, sports betting vs investing, gambling laws, investment risks, sports betting industry, responsible gambling, betting odds, stock market growth, financial returns, and risk management. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:27.7	slash setup welcome to nerd wallets smart money podcast i'm tess vigland in for sean piles and Welcome to Nerd Wallet's Smart Money podcast.
0:39.2	I'm Tess Vigland in for Sean Piles.
0:41.3	And I'm Anna Hilhouski.
0:42.9	And this is our weekly money news roundup where we break down the latest in the world of finance to help you be smarter with your money.
0:49.5	We'll go deep into a single topic, then leave you with the latest money headlines.
0:53.4	Today, Anna, I got $2 here
0:56.0	that says we're talking about the wide world of sports betting. You know, I'm not going to take
0:59.9	that bet because you're correct. Aha. You know, Tess, just six years ago, sports betting was
1:04.7	illegal at the federal level, although, let's be real, that type of betting was still going on.
1:09.6	But in 2018, the Supreme Court struck down
1:12.1	the federal ban and left it to the states. Now, if you live in one of the 38 states plus Washington,
1:17.2	D.C. and Puerto Rico, you can legally bet on sports. And in 30 of those states, you can place
1:22.6	those bets from the comfort of, well, anywhere. Yeah, sports betting is really on the rise.
1:28.1	Goldman Sachs research found that U.S. sports betting has grown into a $10 billion a year
1:34.0	industry, and its forecast show that it could grow to a $45 billion a year industry.
1:39.4	And in the stock market, prices of sports betting companies are rising too.
1:42.8	For example, shares of the company
	...

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