Online sports betting is increasing consumer stress as access to gambling proliferates, a new study found.
In its wake, researchers found a “substantial increase” in auto loan delinquencies, bankruptcies and debt collections in states that permitted online sports betting, according to the working paper that is yet to be peer reviewed.
The results were based on data from more than four million people in a range spanning between March 2016 and June 2023. The researchers studied the difference between online betting and gambling that takes place in person, and discovered similar but stronger consumer stress in states that allow online gambling, according to Hollenbeck.
“We find fairly significant, fairly convincing evidence that when states legalize sports betting that people significantly increase problematic betting, and this is especially true when states legalize mobile betting,” Hollenbeck said.
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