"When new forms of gambling appear, the rate of savings go down, then you see the rate of credit card defaults going up. And you see the rate of mortgage defaults going up. So these are long-term financial and societal costs with broad implications,"
"Having it on your phone with push notifications and constant advertisements is able to kind of hijack your brain in a really fascinating way. Before, you'd have to drive to a casino, and I think that served as a bit of a barrier."
Legalized sports betting is now widespread, with 39 states passing laws and public concern rising: 43 percent of U.S. adults view legalization as harmful, up from 34 percent in 2022. Internet searches for gambling-addiction help increased 23 percent nationally from the 2018 court ruling through June 2024. Counselors report growing numbers of patients with gambling problems. Easier online access, push notifications, and constant advertising reduce former physical barriers and can strongly influence behavior. Observed effects include lower savings and increases in credit card and mortgage defaults, indicating possible long-term economic and social costs.
Read at Harvard Gazette
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