Rant #20: Gambling on Sports vs. Trading Stocks

When you read about someone who loses money in the stock market they are always described as an investor who had some bad luck. When someone loses all their money betting on sports they are described as a degenerate who valued their addiction over their family. When you go to trade a stock you deal with a reputable company who helps you make an investment in your future. When you bet on sports you deal with a bookie named Johnny the Guido. When you earn money in the stock market you are described as a savvy investor and when you make a lot of money in the stock market you are the envy of your peers. When you make money gambling on sports you are still a degenerate on a lucky streak and when you make a ton of money betting on sports people say, “yeah, he may have a lot of money but how does he tell his kids what he does.”  When you want information about investing you check newspapers that have been around for a hundred years like the Wall Street Journal.  When you want to look up sports betting information you have no idea where to go and hope to get enough information from websites like sportsbook review. Where am I going with this. Trading on stocks is somehow treated as something upstanding citizens do while sports betting is treated as something low-lives do when, IN TRUTH, TRADING STOCKS AND BETTING ON SPORTS ARE THE EXACT SAME THINGS. IT IS ALL FREAKIN’ GAMBLING. I make no judgments about gambling and you know what it can be a lot of fun. What I hate is when people pretend that the stock market is anything but gambling. You want to invest in a blue chip, bet on the Yankees. You want to buy a penny stock, bet on the Mets (and, I admit this even though I am a die hard Mets fan).  It is the same damn thing and the only reason there are safer investments like mutual funds in the stock market is because stock trading is legal everywhere and people are allowed to come up with these mass investment pools. Legalize sports gambling everywhere and you would see mutual funds full of safe sports bets. So, get over yourself everyone who looks down on sports “gambling” but likes to grow their money through stock “investing”.