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It's no secret that gambling culture in Australia is enormous, with approximately 24 billion spent annually. More alarming is the average gambler loses $1292 annually. With an estimated 96% of gamblers losing over their lifetime.
Wouldn't you rather be on the other side of that equation? 🤔
Lets do the numbers. Say you have been gambling for 10 years.
That's $12920 of total money wasted to the average punter.
Had you of instead invested that $12920 into TabCorp (major australian bookmaker) on the Australian stock Exchange 10 years ago.
You would now have $23256 and that's without even accounting for dividends.
When it comes to investing in stocks it seems the majority just don't care and or understand. With the get rich quick appeal of betting overpowering the desire to research and give up time to be a succeful investor. Even when the returns are normally much greater when investing.