The analysis indicated that legal sports betting contributed to an average 1% decline in credit scores and significantly increased bankruptcy likelihood by 28% in states with sports gambling.
According to the researchers, 'legal sports betting, and particularly mobile access, has led to a notable increase in problematic debt activity, harming consumer financial health.'
Low-income Americans and young men seem to be bearing the brunt of this financial downturn, illustrating a concerning trend as gambling becomes more accessible.
The study showcased that while many view their losses as entertainment expenses, for others, the implications on their financial health could be dire.
[
Collection
]
[
|
...
]