$100B Problem: The Sports Gabling Epidemic

It’s estimated that ~$83B was bet on sports from January through November of 2022. Let that sink in for a moment! $83 billion! It’s also estimated that approximately 19%

of American adults, or 49 million people, gamble on sports. Combining these two statistics results in approximately $1,700 bet on sports per year ($83B/49M) by each of these 49M people.

If that $1,700 per year were invested instead, they would each have approximately $280k after 30 years. You may be thinking that $280k isn’t life changing money, and I agree, but when you consider that the median 401(k) balance is only $35,345, it certainly could make a huge difference!

I also feel confident that some of the people who can’t “afford” to invest are the ones who are gambling on football, baseball, basketball, golf, etc. This problem is only going to intensify as more states legalize sports gambling. For example, the two largest states by population, Texas and California, may potentially legalize it in 2024.

Finally, I would be remiss if I didn’t include that you should “Always bet responsibly,” which is how every gambling commercial ends, and I still have no idea what it means!

Disclaimer: The information in this post is provided for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. The information is intended to be educational and is not tailored to the investment needs of any specific individual.  It is also not intended to be relied upon as a forecast and is not an offer or solicitation to buy or sell any securities or to adopt any investment strategy.  The opinions expressed are those of the author.  Reliance upon the guidance and information in this presentation is at the sole discretion of the individual.