Study Finds Americans Spend More on Sports Bets Than Investing in the Stock Market
JerseyTalks Staff
Aug 27, 2024
1 min read274 views
What happened
Recent research reveals that since sports betting became widely legalized in the U.S., households are increasingly shifting funds from stock market investments to sports wagers. 🏈💰 For every dollar spent on sports betting, net investments drop by $2.
Recent research reveals that since sports betting became widely legalized in the U.S., households are increasingly shifting funds from stock market investments to sports wagers. 🏈💰
For every dollar spent on sports betting, net investments drop by $2. In states that legalized sports betting, net investments decreased by 14% within 2-3 years.
The study highlights that financially strained households are particularly prone to redirecting money from stocks to bets.
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