Sports Betting Is Everywhere, Especially on Credit Reports

0.5% increase in credit delinquency rates over 3 years feels... underwhelming.

I'm not a gambler and I personally find gambling morally questionable and intellectually embarrassing, but golly I'm tired of sports gambling being pointed in a sort of "see, freedom doesn't work!" sort of way.

1% of people will ruin their lives no matter what society does to prevent it. If you have a gambling problem (if it even appeals to you), I would as a _friend_, recommend you seek help; but as your fellow citizen? Up to you.

They buried the lede…

Participation in sports betting appears to make people about 2x more likely to be delinquent on their loans.

Whether you think that’s “bad enough” is another question, but the article doesn’t make it very clear what the effect size is.

Very interesting. Would love to see comparisons with LV where sports gambling has always been legal (relative delinquency rates to other states before the ‘18 ruling, especially in the u40 group). Also change in delinquencies in LV as a control (presumably flat)

I’m waiting for this to affect more young men from my country of Finland.

Decades of a government monopoly on gambling was dismantled, and the market is being opened up for foreign companies buying licenses to operate.

It feels like there is a global wave of reintroducing every ”vice” that was somehow curbed with laws and restrictions. Nicotine? Cigarettes were so expensive that young people didn’t even bother, until snus, vapes and nicotine pouches (especially the pouchess) took off, and now more young people are hooked on nicotine than ever, and even younger.

Light alcohol beverages were only sold through supermarkets, and the wines and the stronger stuff through the well-equipped national monopoly. Now home delivery and breaking up the monopoly is on the table. Ever stronger stuff is getting moved to supermarkets instead of liquor stores.

Now gambling is next. It’s so bad that even the great Apple Inc. includes betting odds by DraftKings (it says so on the app) on their Sports scores app that’s rated ages 4+. You literally have to go to the app settings to turn them off.

All these rollbacks are made by economically right wing parties in the name of personal liberties. Oddly enough, as with many such reforma by the economic right, the gains are personal, but the losses are collective. Billions of euros a year go into fixing the negative effects of alcohol and nicotine. I’ve no idea about the numbers for gambling, but at least the revenues from the government monopoly funded NGOs and other public services directly.

It’s increasingly maddening seeing imperfect solutions to terrible human problems being replaced with… nothing. Nanny state laws might not work, but neither does my alcoholic neighbour… or my old high school friend, who lost so much money gambling that he refuses to find work, because the debt collectors taking a majority of his paycheck. They have more freedom now, at least.

there is a book. addiction by design, exactly about this.

most of betting houses depend heavily on problem gamblers, I will look for some stats, but the truth is regulators don't care or have controversial ties very often