The Brutal Truth About Sports Betting vs Investing

0:00This is an iHeart Podcast. Guaranteed Human Earners, what's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partnered with Empower. Empower is all about helping you invest well so you can go out and live a little. Their free Empower personal dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals, and more. You've worked hard for your money. Now make sure it's working hard for you. Download the Empower personal dashboard or visit Empower.com.

0:37Not an Empower client paid or sponsored. Earners, what's up? Look, when you think about discovering small brands, what store pops in your mind? Well, it should be Walmart. Seriously, Walmart has thousands of small brands and they're all in one place. Just go online or in-store, discover and shop. It could not be easier. Every one of these brands has a real story and real people behind it. They're true American success stories, and you can find them all at Walmart. Discover thousands of small brands at walmart.com today. When traveling for events or festivals throughout the country, every dollar matters.

1:14We compare flights, prices, hotel rates, and restaurant options. So why wouldn't we compare rides? Personally, I always check Lyft before booking a ride. Prices can change throughout the day depending on traffic, weather, and what's happening in the city. If you're headed to a concert, out to dinner, or catching up with your friends on a Friday night, taking a few seconds to check lift could leave you with more money to enjoy the experience. Save money. Check lift. Today's episode is brought to you by ChatGPT for Business. As a listener of this podcast, you're looking for ways to help teams move faster, make sharper decisions, and turn scattered context into work they can use.

1:51Chat GPT for Business can help. Chat GPT for Business gives teams a shared workspace with admin controls, permissions, and access to work and codecs in Chat GPT. This means your business can move from question to answer and code to rollout quicker. Join over 10 million business and enterprise users worldwide already using Chat GPT for Work. Download the Chat GPT desktop app or contact sales to learn more. And I want to ask you guys this question, because I was listening to some music and listening to a Ross interview. When do we go back from buyback to blocking? You guys talked about this with Merrill, right?

2:29And I think you made a great point that the gambling epidemic will be equal to or surpass the crack epidemic. When do we go from wanting generational wealth to gambling overnight? You want to start? I mean, it hit almost in a three-month window where everybody just said, forget anything long-term, I'm living for it today. Yeah, when you think of that, about the time, especially with the Buy Black, the blog, and you talk about 444, from cultural moments, Nipsey, obviously, rest in peace, was a part of that movement. There was a shift that was happening, definitely in our culture, for sure, and obviously in our community.

3:12Our platform gets launched in 2019. market monies is in 2020. There are pivotal moments in terms of the idea of what we should be doing with our money, how we should be investing in it, how should we be treated, learning about entrepreneurship, business, all those things. And so at the same time, you get companies like Flutter, which is the owner of Fandu and DraftKings. They IPO in the market, right? And so you're fighting this uphill battle to educate people about what to do with money while there is a billion multi-billion dollar push to push gambling sports betting and now what we have is predictive markets people want to make money fast and they want to make it in a hurry and when people obviously with the the things that we know in our community is sports and entertainment right and if we can make money quick from not playing sports but being involved in betting in it then people are going to do that because it's gamified it's kind of the the you know the scarlet letter that they used to put on robin hood you're making this too fun you're making this gamified you're making it addictive where people are going to treat it like gambling yeah so you put all those things in the gumbo pot the idea that people are hurting people are losing jobs you know obviously inflation living wages the price of uh of anything from gas the groceries going up people are trying to figure out how can i make money fast and when we don't know what to do we go back to the things that we've seen historically whether it was playing a lotto where it was whether it was a number runner now obviously younger and younger people are doing sports but how can we make money fast how can we give our money away because we don't know what to do with it then you put in the music you put in and the advertisement inside of the cultural, significant pieces of media in our community.

5:08It's a great choice of words. It's a calculated mission that has been working effectively. And it's one that we combat every single day. Public service, public service. Go ahead, go ahead, Sean. Please, cause I wanna just, cause this is something that, okay, let's address this. For the crowd that continuously says, well you guys talk about investing and the stock market and that is gambling technically that is gambling so you're trading one casino for another so so let's let's go through the numbers if you sports bet right this is look actually at gbt if you don't believe me you have a 90 to 97 percent chance of losing long term in sports betting 90 to 97 percent long term chance that you'll lose money if you if you sports bet if you invest in the s &p 500 over the course of any rolling 20 year period yeah what do you what do you think your chance has been to lose money if you invest in the s &p 500 over a 20 year rolling period of any 20 year rolling period what was your chance of losing money zero zero percent so this is this is important because we really got to educate the audience.

6:22And we told you this for six years. This is actually the final call. So it's vitally important that you listen. This is the final call. You have a 90 to 97 % chance of losing in sports betting over the course of the long term. You have a 0 % chance of losing money if you invest in the S &P 500 over any 20 year rolling period. Now, do you have a high probability of losing money day trading? Yes, you do. But this is market Mondays. It's not day trading Mondays. For sure. I always say investing is a game of knowledge. Gambling is a game of chance. Investing can become synonymous with gambling when you replace knowledge and you use chance.

7:11So when you just put money on some random crypto or you just do a zero day option, you can turn investing into gambling. But that's never been what we have championed. If you invest in the S &P 500, if you invest in Microsoft, if you invest in Google, if you invest in NVIDIA and you hold them at QQQ for long periods of time, it's almost impossible for you to lose money. Even if you buy the high. I'm only saying almost for compliance reasons. So once again, for the crew that we got to tell the same thing to every single day for seven years, investing and gambling are not the same thing. If you put$10 ,000 into the S &P 500 10 years ago, any amount of money that you gambled, you would have completely lost.

8:08right a 20 year time frame 20 years ago to now the S &P you would have had you would have$70 ,000 if you put 10 ,000 in and for the crew that's like well that's not a lot of money the average black person has a net worth of 44 ,000 so we have to be we have to put things in perspective gambling is not a pathway to build wealth it will only leave you broke but that's the numbers that's the statistics so if you keep saying and for you guys in the comments you got it you got to be the warriors that - That's what I keep saying. That's what I was - Yep. You don't have to fight for us. You got to fight for other people.

8:44Look, there's a responsibility that comes with being educated. The people that watch Market Mondays are part of the enlightened few. Don't ever think that these are the masses of people. You're part of the enlightened few. Ignorance is bliss. So when you come across ignorance, it's time. You got to use your platform to combat the ignorance and teach people because you actually have a responsibility once you're educated dre really quick to you my brother i love you from the bottom of my heart if you go to google um or jet gbt or anthropic any 20-year period until the standard and pores index 500 whether you bought at the top the median level or a deviation down you had no losses also if i can read off a couple quick stats if If you hold for 15 years, NVIDIA's return, 57 ,000%.

9:37Tesla, 20 ,000%. Broadcom, 14 ,000%. Axon, 13 ,000%. Micron, 12 ,000%. Seagate, 9 ,000%. Eli Lilly, 4 ,000%. Apple, 2 ,000%. Alphabet, 2 ,600%. Let's go to some non-favorable ones. D.R. Horton, 1 ,300%. TJ Maxx, 1 ,250 % return. Ross, 1 ,100%. if you hold for the long term, you will become wealthy. But they advertise to our community that the way to get rich is to flip quickly when they're holding everything for a long period of time. Please hold for the long term. I love y 'all from the bottom of my heart. And like Rashad said, this is the final call. Final call, final call, please. I didn't offend anybody there, guys.

10:24Final call, man. We're not gonna keep saying the same thing over and over again for 10 years. Yeah, man. I think we've covered it. We wrote an entire book and there's a chapter on the differences between investing and gambling. I think, shout out to Merrill. I thought that was a dope episode, but we break down the differences there. People understand it, they just don't participate. A lot of people don't understand it. A lot of people don't. But then let's put them the same people. The mass majority, I would agree. No, no, no. Yeah, no, no. Yeah. And also I'll say this, stop letting people put flashy things online to induce you to do things because the wealth is not there the the important thing to ask is what's the net worth i see a lot of people trying to induce people in all the trips and but that's how we get brought into a scam and then a year later everyone's like well how could this go wrong the net worth story tells the real story hold for the long term and any business that you're in all the gains are there.

11:25And for those who are like, well, I need money now, I feel you. But every company who knows that you need money now are robbing you to make themselves rich. And I've talked to a couple people at these companies. They take the money and put it right into the indexes and to QQQ. Hold for the long term. There's a reason why they're publicly traded. Ernest, what's up? Look, when you think about discovering small brands, what store pops in your mind? Well, it should be Walmart. Seriously, Walmart has thousands of small brands, and they're all in one place. Just go online or in-store, discover, and shop.

12:03It could not be easier. Every one of these brands has a real story and real people behind it. They're true American success stories, and you can find them all at Walmart. Discover thousands of small brands at walmart.com today. Earners, what's up? Look, building wealth isn't just about making money. It's about knowing where your money is working for you. That's why we partner with Empower. Empower is all about helping you invest well so you can go out and live a little. Their free Empower personal dashboard gives you a complete view of your financial life in one place. Track your net worth, monitor your budget, analyze your investments, set retirement goals, and more.

12:42You've worked hard for your money. Now make sure it's working hard for you. Download the Empower personal dashboard or visit Empower.com. Not an Empower client paid or sponsored. When traveling for events or festivals throughout the country, every dollar matters. We compare flights, prices, hotel rates, and restaurant options. So why wouldn't we compare rides? Personally, I always check Lyft before booking a ride. Prices can change throughout the day depending on traffic, weather, and what's happening in the city. If you're headed to a concert, out to dinner, or catching up with your friends on a Friday night, taking a few seconds to check Lyft could leave you with more money to enjoy the experience.

13:22Save money. Check Lyft. Before you sign off, you tuned in for ways to help teams move faster, make sharper decisions, and turn scattered context into work they can use. ChatGPT for Business can help. ChatGPT for Business gives teams a shared workspace with admin controls, permissions, and access to work and codecs in ChatGPT. This means your business can move from question to answer and code to rollout quicker. Join over 10 million business and enterprise users worldwide already using ChatGPT for work. Download the ChatGPT desktop app or contact sales to learn more. This is an iHeart Podcast. Guaranteed human.