Gary Vaynerchuk on the Sports Card Boom: Is It a Better Investment Than Betting on Lamar Jackson?

Gary Vaynerchuk, a renowned entrepreneur and investor, explores the recent surge in popularity of sports cards, particularly focusing on its potential as an investment strategy. He posits that sports cards, unlike direct sports betting, present a more financially sound approach to enjoying sports, particularly for those who aren't ardent fans of specific teams.

The Rise of Sports Cards: Daily Fantasy Sports and DraftKings

Gary attributes the rapid rise of sports cards to the growing culture of daily fantasy sports and sports betting, exemplified by platforms like DraftKings. This culture has established a foundation for sports enthusiasts to engage with their favorite games through financial means. He believes this trend has paved the way for sports card collecting to become a more appealing option.

Sports Cards vs. Betting: Financial Soundness and Risk

Gary emphasizes the financial implications of sports cards compared to direct sports betting. He argues that while betting on a player like Lamar Jackson might yield significant returns initially, it carries the risk of substantial losses if the player underperforms or gets injured. Sports cards, on the other hand, offer a less volatile investment option, with potential for steady appreciation over time.

Lamar Jackson Example: Risk vs. Reward in Betting

Gary uses Lamar Jackson as a prime example to illustrate the potential risks associated with sports betting. While betting on Jackson's performance might have been profitable for a brief period, the inherent unpredictability of sports means that such investments are inherently risky.

• Betting on a player like Lamar Jackson can yield high returns initially, but comes with a high risk of loss if the player underperforms or gets injured.
• The volatility of sports betting makes it a less predictable investment compared to sports cards.

Sports Cards: A Safer Option for Fans and Casual Gamblers

Gary believes that sports cards provide a more stable and less risky approach to engaging with sports for fans and casual gamblers. He anticipates a shift in behavior, with more individuals migrating from traditional sports betting to sports card collecting over the next few years.

The Impact of Sports Card Collecting on Gary's Perspective

Gary admits that he doesn't actively follow the Chicago White Sox, but suggests that if he were to invest in 20 rookie cards of Eloy Jiménez, he would likely start watching their games more closely.

• Sports card collecting can foster a more engaged and invested interest in teams and players.
• For someone who doesn't follow a particular team, investing in sports cards can lead to increased interest and engagement.

Gary Vaynerchuk's Insights on Sports Card Investing

Gary's perspective highlights the potential for sports cards as a financial investment, particularly in the context of the growing sports betting and fantasy sports culture. He emphasizes the importance of careful research and understanding the underlying factors that contribute to a card's value.

Key Takeaways:

• Gary Vaynerchuk advocates for sports cards as a more financially sound alternative to direct sports betting.
• He cites the rise of daily fantasy sports and platforms like DraftKings as contributing factors to the sports card boom.
• He uses the example of Lamar Jackson to highlight the inherent risks associated with sports betting.
• Gary believes that sports cards offer a more stable and less volatile investment opportunity for fans and casual gamblers.
• He anticipates a shift in behavior towards sports card collecting as a preferred method of engaging with sports.