Dr. Daniel Crosby - The Psychology of Sports Betting and Investing: How Gambling Culture Reshapes Retail Investor Behavior and What Advisors Should Do About It
Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making. Daniel was named one of the “12 Thinkers to Watch” by Monster.com, a “Financial Blogger You Should Be Reading” by AARP and a member of InvestmentNews prestigious "40 Under 40". When he is not consulting around market psychology, Daniel enjoys independent films, fanatically following St. Louis Cardinals baseball, and spending time with his wife and three children.
Tune in to hear:
What did Betterment’s 2026 Retail Investor Survey uncover about Gen Z investors and sports betting and why is this finding so significant?
Do Gen Z’s financial prospects look more promising than Gen X and the millennials, according to the data? Are they more or less likely to contribute to workplace retirement programs?
Why is the dopamine hit of sports betting, and similar “financial entertainment,” so psychologically powerful? Also, why are variable reward schedules such strong reinforcers of behavior?
How do the psychological principles of recency bias, near-miss effects, social proof and loss chasing reinforce the addictiveness of gambling?
What are the important distinctions between an investor, a trader, a speculator and a gambler? What are the different questions each of these individuals are asking?
Why is the gamification of investing so detrimental to investor performance?
What are some effective ways advisors can start a healthy discourse around risky investment behaviors, like sports betting or day trading?
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