Credit Problems Jump After Betting Is Legalized, Fed Study Finds
A patron places a bet during the 2025 Breeders' Cup World Championships at Del Mar Race Track in Del Mar, California.
Photographer: Orlando Ramirez/Getty ImagesUS states that have legalized sports betting have seen a rise in delinquency rates on consumer credit products and a decrease in credit scores, according to a new report from the Federal Reserve Bank of New York.
Among people under 40 — the main demographic for sports betting — the share who were at least 90 days late on a credit card payment rose 7.9% after legalization, an analysis of consumer credit data found.