Online Sports Betting Adds to Consumer Credit Stress, Study Says
- Chances of auto loan delinquencies and bankruptcies increase
- Credit card delinquencies went down alongside access to credit
This article is for subscribers only.
Online sports betting is increasing consumer stress as access to gambling proliferates, a new study found.
A US Supreme Court ruling in 2018 led to 38 states legalizing sports gambling. 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.