CHARLOTTE, N.C. — Sports betting is expected to pick up again during football season and new data revealed the impact of legalized sports gambling on American households.
Two separate papers paint a grim picture of the impact of legalized sports betting nationwide. In states with legal sports betting, households have shown reduced savings, lower investments, lower credit scores and higher rates of bankruptcies, according to a report from NBC News.
States also reported more auto loan delinquencies and debt consolidation loans. Not only that, but data shows people who bet on sports are more likely to have children.
Despite the negative impact on households, the change has been beneficial for states. In North Carolina alone, the state has made more than $34.6 million in tax revenue from sports betting since it launched in March.
Steps are being taken to address the issue. Earlier this year, major sports betting platforms formed the Responsible Online Gaming Association. Members committed over $20 million to fund research, education and awareness campaigns to promote responsible gambling.
Playing the lottery is a form of gambling. If you are concerned about your gambling or worried about a friend, you can call the NC Problem Gambling Helpline at 1-877-718-5543. You can also contact the National Helpline at 1-800-522-4700.
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