Online Sports Bettors 15 Times More Likely To Miss Bill Payments Than In-Person Gamblers, Report Says

ToplineOnline sports bettors spend more, place riskier bets, save less money for the future and are more likely to fall behind on bills than their counterparts who gamble only at casinos or racetracks, a new Urban Institute report released Thursday shows, a gap that is driving a new wave of state and federal regulatory proposals.A man poses for a photograph with the online gambling website Bet365.AFP via Getty ImagesKey FactsThe survey, which compared the betting habits and financial outcomes of more than 320 online and in-person sports bettors, found that online gamblers had bet more frequently, spent more money over the previous 12 months and were more likely to have placed high-risk bets.

Online gamblers reported they’d faced greater financial challenges in the prior 12 months than in-person bettors, were 15 times more likely to report having missed a bill payment than in-person bettors, and were twice as likely to say they have saved less money than they otherwise would have.A significant minority of sports gamblers of both types (12%) reported they have saved less money than they would have if they were not gambling and that behavior was more likely to be reported among sports bettors with low incomes (below $50,000) and young gamblers (ages 18 to 29). While most sports bettors gamble relatively infrequently, online gamblers bet much more often—7% reported betting daily (compared to 0%) of in-person bettors), 28% said they bet weekly and 23% said they bet monthly.

More than two-thirds (67%) of sports gamblers say they primarily gamble to win money despite other studies showing the vast majority of people do not make money betting on sports and most lose an average of 7.5 cents for every dollar wagered.BIG NUMBERLess than $100.

That’s how much a majority of sports bettors (55%) say they bet on sports in the 12 months prior to being surveyed. A sizable minority (11%) said they have bet more than $1,000 in the past year. SURPRISING FACTThe most common type of spor