CNBC's Melissa Lee explores how a generation raised on smartphones is re-thinking views on money and risk in a new CNBC original documentary
CNBC examines how online apps for stock trading, sports betting and crypto sites have experienced a surge in popularity and profits, and how that boom is affecting a generation of younger users
ENGLEWOOD CLIFFS, N.J., September 28, 2021 – On Tuesday, October 5 at 8pm ET, CNBC Documentaries presents "Generation Gamble," a comprehensive look at the proliferation of online investing, crypto and sports betting apps and how a new generation is being encouraged to act more aggressively towards money and risk. Reported by CNBC's Melissa Lee, this hour-long original documentary explores a new era where the boundaries between gaming, betting and investing are blurred, and younger consumers are being targeted.
As a result of the COVID-19 pandemic, online activity has increased dramatically, leading Gen Z to reevaluate how it makes and uses money. Lee profiles avid college-aged users, illustrating the ease of online betting and investing apps. She also speaks with a Washington State University professor who warns these apps can have unseen dangers and come with excessive risks.
Lee travels to Boston, where she interviews the co-founders of DraftKings at their headquarters and discusses the rapidly growing popularity of top-rated sports betting apps as sports betting becomes legalized around the country. The documentary looks at other industries getting in on the action and what DraftKings is doing to promote responsible gambling among its users.
In "Generation Gamble," CNBC examines social media and its influencers that are changing the world of traditional investing by glamorizing trading for a new generation and fueling the rise of crypto. Lee visits Miami, where there is an emerging crypto and tech scene. She profiles a young social media influencer and claimed crypto millionaire who shares his financial advice online with more than a million followers. Professors in this field discuss the rise of such fintech influencers and the broad effect social media is having on investing.
The documentary emphasizes potential downsides of this type of betting and investing behavior as well, through people dealing with betting addictions and the experts trying to treat them. With an estimated four million Americans suffering from compulsive gambling disorder, CNBC shows firsthand the dangers behind constant access.
Lee's reporting also takes her to the virtual world of this new generation of digital natives. She explores multiple metaverses and interviews the former CEO of Atari, who now heads an independent licensee of Atari, and visits one of these virtual realms where there is an Atari branded casino and cryptocurrency called the Atari Token. With instant gratification and real-time adjustments, some companies and players are betting the metaverse is the next step in the evolution of gaming.
"Generation Gamble" provides an in-depth examination of the intersection of betting, trading and gaming, exploring what is at stake for everyone involved and how taking risks can be as easy as a tap on an app.
For additional information and to view early clips from the documentary, visit: https://www.cnbc.com/generationgamble.
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