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New York Fed Flags Sports Betting as a Growing Risk to US Consumer Credit Health

‘Following the legalization of sports betting in a state, credit delinquencies increase, driven by those under 40 years old,’ economists said.
New York Fed Flags Sports Betting as a Growing Risk to US Consumer Credit Health
A person gambles as betting odds for the Super Bowl are displayed on monitors at the Circa Resort and Casino sports book in Las Vegas on Feb. 3, 2023. John Locher/AP Photo
Andrew Moran
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The surge in sports betting across the United States is starting to ripple through consumers’ credit health and bolster delinquencies, economists at the Federal Reserve Bank of New York caution.

Americans legally bet nearly $167 billion on sports last year, generating a record $16.96 billion in revenue for the industry, according to the American Gaming Association.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."