You know, I was sort of aware that online gambling was kind of becoming a big thing, but seeing it like this really drove home how big of a problem this has become.
[deleted] on
[deleted]
FatalModelCustomer on
Makes little sense why so many people in Brazil have money invested in Savings account, you barely even beat inflation there. The Brazilian government issues inflation-linked bonds that are much more attractive than the regular savings account.
It’s a no-brainer why almost nobody uses them.
TheRealPomax on
Okay, but the same is true for regular betting at the bookies? The number of people that „own stock“ is nowhere near to proportional to the size of the stock market. It’s its own siloed off thing that the majority of people never interact with. At best, they don’t even know they do because their bank does it for them.
So this is a kind of a selective graphic that only tells a fraction of the story that beautiful data would describe.
cdx70 on
I mean this shouldn’t be surprising, you can online gamble with 5 dollars, there is no sense in investing if you don’t have a decent amount of money. The activity that requires very little money is far more likely to have a lot of participants. Do a graph that shows the amount of money in the Brazilian stock market vs the amount of money spent on online gambling and it will tell a different story. This data seems to imply that people gamble instead of investing which is a false equivalency.
BigDisk on
Setting the online betting problem aside for a moment, Brazil’s interest rate (SELIC) is currently sitting at 14,25% yearly, and has been at around this value since at least the pandemic, so owning stocks isn’t really worth it if you don’t have insider info. Might as well keep your money in ~~savings~~ bonds.
EDIT: Savings != Bonds.
CLPond on
What does savings mean in this context? Is that just low interest savings accounts or does it include higher interest savings, retirement, etc?
FearlessClothes6297 on
A large portion of workers only wait to receive their salary so they can gamble on betting platforms. People living in poverty and receiving government assistance often spend all of that money on betting, hoping to „multiply“ it.
Betting companies sponsor virtually all major national football championships, Carnival events, and other large-scale events.
In the past, you had to leave your house to spend money on gambling. With online betting platforms, you can do it directly from your home.
A specialized unit has even been created within the public healthcare system solely to deal with gambling addiction.
PokerLemon on
37M in savings? 37 million dollars? makes no sense
Purplekeyboard on
Note that the crypto and online betting figures can be combined.
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You know, I was sort of aware that online gambling was kind of becoming a big thing, but seeing it like this really drove home how big of a problem this has become.
[deleted]
Makes little sense why so many people in Brazil have money invested in Savings account, you barely even beat inflation there. The Brazilian government issues inflation-linked bonds that are much more attractive than the regular savings account.
It’s a no-brainer why almost nobody uses them.
Okay, but the same is true for regular betting at the bookies? The number of people that „own stock“ is nowhere near to proportional to the size of the stock market. It’s its own siloed off thing that the majority of people never interact with. At best, they don’t even know they do because their bank does it for them.
So this is a kind of a selective graphic that only tells a fraction of the story that beautiful data would describe.
I mean this shouldn’t be surprising, you can online gamble with 5 dollars, there is no sense in investing if you don’t have a decent amount of money. The activity that requires very little money is far more likely to have a lot of participants. Do a graph that shows the amount of money in the Brazilian stock market vs the amount of money spent on online gambling and it will tell a different story. This data seems to imply that people gamble instead of investing which is a false equivalency.
Setting the online betting problem aside for a moment, Brazil’s interest rate (SELIC) is currently sitting at 14,25% yearly, and has been at around this value since at least the pandemic, so owning stocks isn’t really worth it if you don’t have insider info. Might as well keep your money in ~~savings~~ bonds.
EDIT: Savings != Bonds.
What does savings mean in this context? Is that just low interest savings accounts or does it include higher interest savings, retirement, etc?
A large portion of workers only wait to receive their salary so they can gamble on betting platforms. People living in poverty and receiving government assistance often spend all of that money on betting, hoping to „multiply“ it.
Betting companies sponsor virtually all major national football championships, Carnival events, and other large-scale events.
In the past, you had to leave your house to spend money on gambling. With online betting platforms, you can do it directly from your home.
A specialized unit has even been created within the public healthcare system solely to deal with gambling addiction.
37M in savings? 37 million dollars? makes no sense
Note that the crypto and online betting figures can be combined.