> It's just entertainment. Is blowing $100 on sports betting really any worse than $500 on a designer handbag?
Probably. A bag is an item with utility that can be resold. Typically the person buying the handbag also gets entertainment value out of the time spent shopping for the handbag and also enjoys using the handbag for some period of time.
Sports betting is pure entertainment. I don't know how far $100 goes in sports betting. If that's what you spend in a night, I'd say the handbag is easily a better value for a person who likes handbags. If $100 is what you'd lose in the aggregate over a month, with several hours a day spent enjoying sports betting, maybe the sports betting is the better value. I guess it depends on how good of a gambler you are.
People get endorphin hits from both. The fact that you can consider a handbag a speculative investment that you can resell is gambling every bit as much as actual gambling: the expected value is still negative. With resale, taxes alone immediately burn through almost 20% of the list price.
For both, I say if you can afford it and it gives you enjoyment, go for it: that's the reason to have money. If you can't, don't do either.
Probably. A bag is an item with utility that can be resold. Typically the person buying the handbag also gets entertainment value out of the time spent shopping for the handbag and also enjoys using the handbag for some period of time.
Sports betting is pure entertainment. I don't know how far $100 goes in sports betting. If that's what you spend in a night, I'd say the handbag is easily a better value for a person who likes handbags. If $100 is what you'd lose in the aggregate over a month, with several hours a day spent enjoying sports betting, maybe the sports betting is the better value. I guess it depends on how good of a gambler you are.