Households under pressure as more Americans turn to sports betting to cover bills

21 October 2026

More than half of Americans who bet on sports admit they have tried to use wagers to cover household bills, according to a new survey. And that gambles with their own financial security, according to a trio of recent reports.

A 2024 survey of 1,200 Americans who placed a sports bet within the last year found that 51% have wagered to help cover bills, according to U.S. News. More than a quarter of those surveyed, 26%, admitted they had not been able to pay a bill because of sports betting in the past year. Half of those with sports betting debts said they took out a loan to fund their wagers, including 12% who turned to a payday lender.

National concerns about the confluence of sports betting and household finances have blossomed with the explosive growth of legal betting. That expansion was given a major boost by the Supreme Court's 2018 ruling in Murphy v. National Collegiate Athletic Association. Sports betting is now legal in 38 states and Washington, D.C., up from 32 in 2022, according to the U.S. News survey. In 2023, Americans bet nearly $120 billion on sports, up 25% year over year.

Financial stability at risk

But banking and consumer groups say the impacts of sports betting can be particularly negative for those already living at their limits. A 2023 National Bureau of Economic Research (NBER) working paper titled "Gambling Away Stability: Sports Betting's Impact on Vulnerable Households" says that legal betting leads to quick debt accumulation. It also reduces savings, while risky bets hinder positive financial planning. The CNBC review of that study found that the effects of increased credit card debt and decline in net savings are particularly notable in financially strapped households. Collectively, the changes reduced household financial stability.

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The question of who monitors gambling behavior within families adds another layer of concern. A 2024 survey from Capita, a data management services provider in the U.K., found that 31% of households with sports betting habits cut spending on essentials at least once to place bets or cover losses. The same survey found that slightly more than a third of parents in those households, 34%, were at least somewhat worried about the financial risks that sports betting poses to their families. Yet only about half of the survey's parents were completely honest about how much their spouse or partner wagers monthly.

The legal expansion of sports betting has outpaced collective understanding of its stressors on families, according to Capita. That could lead couples to make financial choices that place the household in an increasingly precarious position. The Capita survey found that among parents who earn under $30,000 a year, 58% cut essential spending to cover sports bets, compared with only 16% among parents earning $100,000 or more.

As financial pressures mount in an uncertain economy, experts say there are growing concerns about gambling's allure as a substitute for sound financial management.