Show notes
In the world of online gambling, many view sports betting as the ‘gateway drug’ to a more serious gambling addiction- so we share in Dave Ramsey’s outrage over US colleges promoting these gambling services to their students.
The NY Times recently released a report outlining that multiple universities have joined forces with sports betting operators, getting kick-backs for promoting their platforms to their students. While these partnerships may be an attempt by athletic departments score back some lost revenue from the pandemic, Ramsey — who has previously criticized colleges for teaming up with credit card companies — says on an episode of his show that this new phenomenon is actually “way worse,” dubbing it “stupidity on steroids.”
In this episode, Jake and Gino argue that the universities have an obligation to take care of their students, but instead are carelessly cashing in- ignoring data that shows their student bodies as the most at risk for developing a gambling addiction. With student loans and debt from college taking a toll on so many Americans, students are easy prey for this downfall.
Parents, ask yourself:
Am I really setting my child up for a bright future by sending my child to college? Or will this experience get them into debt, gambling, and binge drinking?
Listen to the full episode to weigh your options about sending your kids to the college.
Key Moments:
00:00 Introduction
02:33 Your job as a parent is to prepare your child for the future.
04:13 Government dominated by corporate business interest
05:22 Real scandal: Universities signing up for gambling promo
08:08 Let your kids figure out life for themselves
12:07 Send your kids for vacation for sensible learning experiences rather than sending them to college to get them into gambling and binge drinking
12:35 Wrap-up
*BONUS RESOURCE* Check out this podcast on An Alternative to College, that dives further into this concept: https://100yearrei.com/using-the-dual-asset-strategy-as-an-alternative-to-college/
To know more about long-term personal financial engineering and options for building legacy wealth, connect with our Team at www.100year.com
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The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Jake and Gino are not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.
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About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com.
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