US News warns that 1 in 4 gamblers miss payments due to wagering

• A new survey by US News has highlighted some of he issues that sports bettors face
• 30% of people who were interviewed said that they had amassed debts because of gambling
• 21% of people said they have abused an athlete verbally because of gambling

US News, a media outlet, has conducted a detailed survey into gambling behavior across the United States, seven years after the Supreme Court struck down a piece of federal legislation that prohibited the legalization of gambling.

US News report highlights the negatives of excessive gambling

While other surveys have emerged, with some arguing that mass legalization has led to an increase in problem gamblers, and others still arguing that it was more of a blip on the radar, the US News survey is a fresh body of evidence to help gauge what is happening with people who are also gamblers. The survey conducted by the outlet focused specifically on sports gambling.

US News has come up with several highlights that should raise concern among observers and lawmakers, if the evidence behind them bears out. According to the publication, one-quarter of all sports gamblers have admitted to not being able to pay for a bill because of wagers they placed.

More seriously, some respondents said they spent their money allocated for rent on sports betting, in particular. A third of sports bettors, or around 30% said they had amassed debts because of gambling.

More than half (51%) of the people who have ended up indebted because of gambling owe more than $500. Another 15% of sports bettors have admitted that they have taken personal loans to sustain their betting habits, often opting for high-interest payday loans, which have further worsened their financial situation.

Another 45% of respondents who are also bettors admit that they do not meet the financial emergency quota described as three to six months’ worth of living expenses, as recommended by experts.

Even more interestingly, 21% of all sports bettors have admitted that they have abused an athlete verbally because of a wager that came short. The survey has offered many other insightful data points, such as how much people are spending.

Wealthier bettors tend to bet more per month, but no one is safe

40% of respondents said that they wager less monthly, but another 27% admitted that they spend at least $500 a month. This is usually for bettors with a household income of more than $150,000. The US News survey also found that 16% of respondents worried that they could not control their gambling habits – a rather high number, and 9% admitted that they have sought help to treat their habits.

Among some of the most serious acknowledgements of the impact gambling has had on people’s lives are testimonies such as "I lost $100,000, and it was my life savings," "I acted impulsively and lost more money than I was prepared to risk."

While the findings may not be definitive, they underscore a trend in sports betting behavior and the potential risks therein.

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