Sports betting takes a financial toll
- Sports betting is degrading the financial health of the most vulnerable households, according to a new study that tees up an emerging political issue.
- The study, which draws on transaction data from more than 180,000 households, found that sports betting doesn’t replace shopping or other gambling, like lottery tickets or casino outings, but adds to it, eating into savings and driving up debt.
- “Risky bets crowd out positive expected value investments,” like buying a house or investing for retirement, the study says.
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- Sports betting is degrading the financial health of the most vulnerable households, according to a new study that tees up an emerging political issue.
- The study, which draws on transaction data from more than 180,000 households, found that sports betting doesn’t replace shopping or other gambling, like lottery tickets or casino outings, but adds to it, eating into savings and driving up debt.
- “Risky bets crowd out positive expected value investments,” like buying a house or investing for retirement, the study says.
Sources: Semafor