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International Business Times UK
International Business Times UK
Business
Jim Manzon

New York Fed Study Links Legal Sports Betting to Rising Credit Delinquencies Among Americans Under Age 40

US Federal Reserve United States NY Fed
Online sportsbook apps now handle 90% of all sports wagers in the US, allowing Americans to bet around the clock from their smartphones (Credit: GrokAI)

A Federal Reserve Bank of New York study has found a direct link between legal sports betting and rising credit delinquencies, with Americans under age 40 suffering the sharpest financial damage as smartphone gambling apps spread across more than 30 US states.

The research by NY Fed economists Jacob Goss and Daniel Mangrum found that credit delinquency rates rose about 0.3% overall in states where sports betting is legal. But among the roughly 3% of the population who took up betting after their state made it legal, delinquencies spiked by more than 10%.

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