Here’s What You Need to Know About the Big Wager on Sports Betting

Sports betting is sweeping across the country since the Supreme Court struck down restrictions on gambling activities in 2018.

Nineteen states have legalized some form of betting on sports, and at last count, 17 states had bills pending that would open up the state for betting on sports.

It’s pretty much a “have to do it” item.

Those states that dig in their heels and maintain their nanny state status are going to see residents cross the line into the next state to make bets, and all the tax dollars associated with gambling will go there instead of filling home state coffers.

The plain truth is that just like with cannabis legalization on a state level, allowing sports betting has nothing to do with public good or safety.

It’s all about the Benjamins.

States need the tax revenue, and it’s a lot easier to collect money form willing bettors that it is to raise income or sales taxes.

Infrastructure needs to be repaired, and school systems are chronically short of money across the United States.

For many states, today, having a stoned citizenship that is betting on the hometown teams to win every day is their only hope of making up budget shortfalls.

Naturally, all of this activity has also attracted the attention of investors

Expand Your Income in the Low Interest Environment Instead of Your Risk

We’ve had several interesting discussions about yield in recent weeks.

When I was a broker, some of our most significant competition for investment dollars was from the banks.

A lot of retirees and near-retirees did not want to take a lot of risks when they could earn up to 7% from a fully insured bank Certificate of Deposit.

They knew they would get all the money back, and they never spent a minute worrying about how the S&P 500 or Dow Jones indexes were doing that day.

These risk-averse folks would rarely even consider a REIT or a muni bond fund.

They liked their bank, they trusted their bank, and they knew Uncle Sam had their back if their bankers decided to be stupid.

The bad news is those options no longer exist.

These days you need to think differently and explore the corners of the market that no one else is even thinking about if we’re going to find good yield without taking on massive risk.

Let’s get started