Poll Reveals the Surprising Toll of Sports Betting on Americans’ Wallets and Well-Being

A new nationwide poll by US News & World Report paints a concerning picture of sports betting’s grip on the American public, revealing the financial and emotional burdens plaguing a significant portion of gamblers. The disjointed nature of US state-level regulations means that there is no easy solution to these pressing issues, particularly as gambling continues to spread across new jurisdictions.

Many Gamblers Regretted Their Choices

The poll, conducted in July, focused on adults who bet on sports during the past six months. Of the 1,200 questioned, many described habits that have put them into debt, strained their relationships, and undermined their financial stability. One in four said they had skipped a bill payment because of bets, sometimes even wagering with funds meant for rent or groceries. 

Sports betting is taking a considerable toll on the finances of some Americans, causing them to sink into debt and fall behind on their monthly bills.

US News & World Report study

Nearly a third of participants revealed they had gambling-related debt, and over half of those owe $500 or more. Such financial strain has led some to borrow from high-risk sources. 12% admit to using payday loans to finance their bets, and others have resorted to credit cards, personal loans, or even their car title.

Impulse decisions appear to be common. Almost half of the people surveyed reported that they had made a bet they now regret. Some of the losses were modest. Others weren’t. One player said he lost $100,000, his entire savings. Another confessed to betting money set aside for a child’s college fund.

Gambling Often Leads to Societal Burdens

Among those surveyed, 16% expressed concern that they were losing control of their gambling. 9% reported already seeking treatment for gambling addiction. Although most perceived betting as a form of recreation, with 40% betting less than $100 each month, a significant group of 27% reported wagering $500 or more monthly. Nearly half of those in households earning $150,000 or more regularly bet at that level.

While many described betting as fun and manageable, the data tells a different story. Nearly a third of respondents admitted to hiding their betting losses from friends or family. Despite only 18% acknowledging that gambling harmed their lives, the survey’s findings suggest many more are struggling with consequences beneath the surface, whether it’s mounting credit card balances, an empty emergency fund, or growing anxiety.

While US News & World Report included several recommendations for individuals to manage their gambling habits, regulator-level oversight is also imperative for protecting consumers from gambling harm. As federal-level gambling regulation remains unlikely, it is up to individual states to mitigate the social harm inherent to the industry.