After states legalize sports betting, Americans see financial strain, studies show : NPR
Advertisements for sports betting apps are seen in downtown Kansas City, Mo., in November. Charlie Riedel/AP hide caption toggle caption Charlie Riedel/AP Online sports betting is more popular than ever, with Americans expected to legally wager billions of dollars on this year’s March Madness basketball tournament. But a growing body of evidence reveals that the sports betting boom leads to financial strain for bettors. A recent report from the New York Federal Reserve found that sports betting is linked to plummeting credit in the more than 30 U.S. states where the activity is legal, as well as in neighboring counties where it was not. Credit delinquency rates, primarily driven by missed payments on credit cards and auto loans, rose about 0.3% overall in states where sports betting is legal, despite legal sports bettors making up only 3% of the population. But, looking only at the 3% of the population who took up sports betting after their state legalized it, credit delinquencies spiked by more than 10% among gamblers. Credit delinquency means credit payments are at …








