BAD BETTING
08/19/2024 |
Two recent papers show the detrimental effects of gambling. One reports that where gambling is legal, average credit scores drop 0.3% after four years, and where online betting is legal, they drop by 1% and bankruptcy filings rise 25%-30% within 3-4 years. Another paper shows that legalization boosts sports gambling, and such gambling does not lead to reductions in other gambling activities or general consumption, thus lowering savings/investment.