The Long-Term Cost of Sports Betting: Lost Compound Interest Opportunities
- 1According to a survey released by Betterment, 52% of Gen Z investors who set aside money for investing used it for sports betting over the past year.
- 2Bank of America Institute data shows that bettors recorded an average return of less than 75 cents per 1 dollar spent this year.
- 3This results in giving up 750 dollars, which is the value of investing 50 dollars at a 7% annual return from age 25 to 65.
So what's the key point?
More than half of young investors used money intended for investing on sports betting. This means missing out on a value of 750 dollars that could have been gained by investing 50 dollars.
Source CNBC · View original ↗
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