For every $1 a household spent on betting, it put $2 less into investment accoun...

…mmy winners, it's something they understand and comprehend, unlike a financial statement that they were never taught to read. On top of that, in terms of where they're getting this money, as it turns out, betting dollars largely came from funds previously used for savings and long-term investments. And these numbers were way worse than I expected. For every $1 a household spent on betting, it put $2 less into investment accounts with net investments falling by 14%. Now, the reason for this is pretty simple. According to a Federal Reserve report, young adults are already a lot less likely to have retirement accounts or really any savings at all. So, with almost nothing to lose, high-upside, low-probability bets could start to feel rational in a world of perceived scarcity, regardless of how much money they st…