TLDR:
- Sports betting has exploded since legalization in 2018, generating $120 billion in bets in 2023
- Studies show sports betting is negatively impacting personal finances, especially for lower-income households
- Gambling is associated with reduced investing, higher debt, and lower credit scores
- Young men and those in low-income areas are most affected financially by sports betting
- The industry faces potential regulation changes as its societal impacts become clearer
The rapid expansion of legal sports betting across the United States is reshaping the financial landscape for millions of Americans.
Since the Supreme Court overturned a federal ban in 2018, 38 states have legalized sports wagering, creating a booming industry that generated over…
