Study: Sports betting drives Americans to liquidate investments, harming finances
Research shows that legalized online sports betting leads households to increase annual bets by $1,100 and reduce net investments by nearly 14%. Many gamblers, particularly young men, sell stocks and crypto to fund betting, often accumulating debt. Experts say this is a money-losing proposition for most participants, draining their finances.
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Original headline: “‘This is a money-losing proposition for most of these individuals’: Americans are draining stock portfolios to shovel more money into sports betting.” Browse more stories.