A US Supreme Court ruling in 2018 led to 38 states legalizing sports betting, causing a 'substantial increase' in financial issues like loan delinquencies, bankruptcies, and debt collections in states permitting online sports gambling.
Researchers highlight that while states aimed for tax revenue growth with sports betting legalization, the negative impacts on consumer finances may partially offset these benefits.
The rise in online sports betting has been accompanied by a significant increase in consumer stress, as evidenced by trends like lower average credit scores, particularly acute in states allowing online gambling.
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