Wrigley opened up a very large one also. I am staying away. I don’t bet but it’s all over ESPN Chicago and nationally on their reports and anchors betting. Maybe talk about a spending limit kinda thing. People can go down the rabbit hole very very quickly. Add in alcohol and peer pressure and it’s not a good combination.
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Yes, there’s a draftkings right in Wrigley! All kinds of partnerships popping up between the sports book companies and professional teams and leagues, events, and colleges
I can’t really limit S21’s bets. I have no access or visibility to his own money and bank account. I could cut off his credit card of ours that he has, but that’s the extent of my control.
Of course but I am just saying talking about it. Being responsible about it. Many very smart kids from good families do very stupid things.
I talked to my son about it as well. He really understands it but is also really good with investing even at his young age. He has very serious budgets that he has set up and pretty much sticks to it. He has some play money that he can use if he chooses to. Once that is gone then he is done
Right now he’s not into it being out of the country he has other things he needs his money for… Lol
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Reread the first part of the quoted message. (I only tried that method once.)
He’s not too receptive to me talking about it, truly thinks he can beat the odds. May end up being an expensive lesson for him. I don’t really know how much money he has, but could be $15K or so. And since he’s just a rising college junior, we pay for everything for him…no need for him to budget yet, or live on just his work salary.
Kids! 
For an accessible classic on this topic, Malkiel’s A Random Walk Down Wall Street is very good (but flawed, in my opinion).
With respect to the analogy itself, it might be worth noting this difference. Most financial markets, at least ostensibly, build overall wealth, and do not require losers. Sports gambling markets, in contrast, are generally structured as “zero-sum games” (or, really, less than zero, when allowing for revenues for the companies that run them and taxes), and require losers to operate, with the average for all gambling partipants being a net loss.
Definitely an important distinction.
I told S21 the only ones getting rich in sports betting are the companies, but then he pulls out some one off example of someone making a living at sports betting. Frustrating!
He definitely knows how many hours he has to work to clear say, $100, so hopefully that will limit his betting. But again, the impulse control of a college male is often not so great 
The house is not the only one getting rich, but the bettors on average lose money, even if some of them do win.
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I understood that. You still over-performed, under-performed, or broke even in that single occurrence.
Regarding betting based on sports knowledge, a long-term sports-show host should have relatively strong information at his disposal. As a trial, I clicked on the first piece of information I could find for an especially prominent radio host. At the time of this information, his season record for NFL picks was 13–17 (against the official spread).
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The experts do tend to struggle picking winners each week.
I’ve done the competitions where you just have to pick one NFL game per week, and that’s really difficult to win too. Here’s an example of that type of competition: ESPN Eliminator Challenge 2022 - How to Play
DH was thrilled today when we stumbled on an outdoor, beachside cafe that was showing the race on a large screen. He was happy Max won.
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Lol - Max always wins - very boring!
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Red Bull is unbeatable right now.
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Not a fan of Max at all. Lewis Hamilton is my F1 guy!
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