In this episode, we explore the difference between luck and gambling in our financial lives. We discuss the challenges of distinguishing between taking credit for good outcomes and blaming oneself for bad outcomes. We also examine and critique how gambling has become more prevalent in our culture.

During the conversation, we highlight the risks and consequences of gambling addiction and the impact it can have on relationships and financial stability. Lastly, we emphasize the importance of understanding and managing risks in investing, and the difference between making informed decisions and relying on luck.

On the menu:
Herb marinated ribeye steak cooked sous-vide style and served with a roasted cauliflower salad and a homemade lemon vinaigrette.

Key Takeaways:
-It’s important to distinguish between luck and gambling in our financial lives.
-Understanding and managing risks is crucial in investing.
-Gambling addiction can have severe consequences on relationships and financial stability.
-Investing is based on informed decisions, while gambling relies on luck.
-The prevalence of gambling in our culture is a cause for concern.

Chapters:
00:00 The Difference Between Luck and Gambling
03:18 The Prevalence of Gambling in Our Culture
06:26 The Consequences of Gambling Addiction
08:40 Informed Decisions vs. Relying on Luck
10:04 Managing Risks in Investing

Shop items seen in this episode on our Amazon storefront:
Amazon Storefront: https://www.amazon.com/shop/richandregular?ref=ac_inf_hm_vp

Links, articles and data shown in this episode:

-ESPN: Sports betting industry posts record $11B in 2023 revenue
https://www.espn.com/espn/betting/story/_/id/39563784/sports-betting-industry-posts-record-11b-2023-revenue

-Dave & Busters to Allow Betting on Arcade Games

-ep 151 of the rich & REGULAR podcast: raising a rich kid
https://podcasts.apple.com/za/podcast/ep-151-raising-a-rich-kid-featuring-our-son-beau/id1562432041?i=1000646893593

About the Hosts:
Julien and Kiersten Saunders are the hosts/producers of Money on the Table, creators of rich & REGULAR® and hosts of the rich & REGULAR podcast. They are personal finance experts, speakers and authors of Cashing Out: Win The Wealth Game By Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes. To learn more about the book, visit https://richandregular.com/cashingout/

To contact us for brand collaborations, speaking engagements or other business related opportunities, send an email to hello@richandregular.com

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