Robinhood’s Terrible Plan to Get Into Sports Betting Paused After Government Pushback

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Gizmodo 11h ago

Robinhood’s Terrible Plan to Get Into Sports Betting Paused After Government Pushback - Gizmodo

Quick Summary:

Individuals typically do not make money day trading individual stocks, whereas the U.S.stock market has consistently appreciated in value over recent decades, making it a largely safe bet to invest in a basket of stocks that reflects the entire market.

The Athletic last year published a story about a veteran who gambled away his life after becoming addicted to sports betting and finding himself digging a progressively deeper hole as he tried in vain to win back his losses.

Robinhood has paused its rollout of a sports betting product.