5 Financial Lessons I Learned During My Time On ‘Beast Games’

I had the opportunity to participate in Beast Games, where 2,000 contestants competed for a chance at a $5 million prize. The event was an intense and revealing look into how people behave when significant sums of money are on the line, from alliances to emotional reactions over financial stakes. My experience during this giant social experiment offered key financial lessons that go far beyond the game. Here, I’ll share five crucial insights I learned from my time in Beast Games.

People Can Be Irrational When It Comes To Money

One of the most striking things I observed during Beast Games was how irrational people can become regarding money. Even though 2,000 people were competing for a $5 million prize—giving each participant a 1 in 2,000 chance of winning—many acted as if they had already secured the money. This sense of entitlement often led to intense emotional reactions when they were eliminated. I observed people throw fits, curse, scream, and become enraged as if they believed the $5 million was already theirs. But each one of us only had a 0.05% chance of winning, a very small chance.

Some participants made extreme life decisions for this slim opportunity. After all, $5 million is a lot of money. Some people quit their jobs, risking almost everything, to fully commit to the idea of winning. They failed to factor in the reality that we were surrounded by a sea of equally motivated individuals. Odds don’t change even if one is fully committed, given everyone else who had made it thus far was equally committed. It’s as if people’s minds refused to acknowledge the slim chance of being the one person in 2,000 who would win the grand prize. This caused many to make foolish decisions regarding their situation back at home, and virtually everyone who got out was appalled as if you had truly taken $5 million from them.

This irrational attachment to potential wealth can explain the billions of dollars Americans spend on the lottery yearly even though the chances of winning are astronomically low. Or why others pursue high-risk, speculative investments, or get trapped by get-rick-quick schemes. This behavior is amplified when there are stories of success or when asset prices surge quickly, creating a fear of missing out that further clouds rational judgment.

Money Is Not The Only Currency

Money is typically seen as the most important form of currency. After all, it enables transactions, investments, and fulfilling basic needs. However, during Beast Games, I realized that other non-monetary currencies matter as much, if not more, in certain situations.

For example, information became the most important…