The newly published paper reveals that the surge in sports betting significantly detracts from household net investments, with every dollar bet correlating to a two-dollar drop in investments.
This finding highlights that sports betting legalization could worsen financial vulnerabilities for households, particularly for those already in monetary distress, pushing them further into debt.
Data indicates that in the wake of sports betting legalization, net investments dropped by 14% over two to three years, showing a direct correlation between betting and reduced investment activity.
While offering states revenue opportunities, sports betting also raises alarms about growing financial risks, as it often leads to higher credit card debts and diminished savings.
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