byu study: sports betting replacing savings for millions of americans

A new study from researchers at BYU suggests legalized sports betting may be changing how many Americans manage their money.

The study found that after sports betting became legal, households reduced brokerage investments by about 20%. Among the heaviest bettors, researchers found savings dropped by more than half, pointing to a shift away from long-term investing and toward gambling.

Researchers say the findings highlight the potential financial impact of widespread access to legal sports betting and raise questions about its long-term effects on household finances.