Invest $250 or Bet It on the Big Game?

Invest $250 or Bet It on the Big Game?

The results are in! Magnifi conducted a survey of 1,000 Americans and we found that eighty-five percent (85%) would rather invest $250 in the stock market than place a bet on the Big Game this weekend. Americans increasingly have access to legalized sports betting - it is now legal in 36 states and the District of Columbia. Even with this increased access, most would rather put that money into the stock market than gamble it.

If you're someone who would rather invest than bet, you can still get in on the sports betting market, just ask Magnifi Personal "How do I invest in Sports betting?"!

Other fascinating survey findings:

• Women were slightly more likely than men to invest - with 86% of women investing versus 84% of men.
• The state with the most betters was Louisiana (and their team isn't even playing!). 50% of people in Louisiana said that they would bet rather than invest.
• Americans residing in Missouri were slightly above average in their betting propensity - 20% of Missourians said they would rather bet than invest.
• Americans residing in Pennsylvania were exactly average - with only 15% of Pennsylvanians saying they'd rather bet the $250.
• Of all the generations queried, Gen Zers were the most likely to bet at 30% and Boomers were the least likely - with only 8% saying they would.

If you're ready to invest, here are a few tips from the Magnifi Team:

1. Don't Be Afraid to Get Started. You can start your investing journey with a few, broad-based, low-fee exchange-traded funds (ETFs) and then continue to build your portfolio from there. According to a prior Magnifi survey, the main reasons people don’t invest are lack of confidence in their investing knowledge (41%) or they don’t know where to begin (27%). The important thing is to start as soon as possible.
2. Stay Diversified. With the number of ETFs and mutual funds available to investors, it's easier than ever to add diversification to your portfolio. Diversification helps you weather varying market conditions and allows you to gain exposure to different asset classes, geographic regions, and even currencies.
3. Develop a personalized investing plan. Staying objective about investments can be hard. By developing a long-term investing plan, you’re more likely to stay in the market and be successful. Magnifi Personal makes it easy to plan ahead for things like retirement, college education expenses and even buying a house.

Methodology

This opt-in survey was commissioned by Magnifi the week of January 13, 2023, among 1,000 American adults aged 18 and older, and conducted online by Dynata. Respondents of the survey were selected from those who volunteered to participate in online surveys. One thousand complete surveys were collected using the sample framework based on U.S. Census data for age, ethnicity, gender, region, and income.

References:

1. Mutual Funds and Exchange Traded Funds (ETF’s) are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
2. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk.