On Line Gambling Leading To Big Problems

Online sports betting is bigger than it’s ever been, and the financial problems that go along with it appear to be very real. A new report from the NY Federal Reserve found that in the thirty-plus states where sports betting is legal, there’s also been a drop in overall credit scores. Legal sports betters are said to make up around 3% of the population, and there’s been a 0.3% increase in “credit delinquency rates” due to “missed payments on credit cards and auto loans” in those states. Those delinquency rates rose to 10% among admitted gamblers.

1-800-MY-RESET is the phone number for the National Problem Gambling Helpline™.