Rent or Round Robin? More Than Half of Sports Bettors Have Wagered Money to Cover Bills as States Try to Contain Legal Gambling.

When you’re trying to make rent, you might pick up an extra shift at work or get rid of some old tat on eBay (EBAY). But you’d never put your housing payment on the Detroit Lions to cover the spread, right? …right?

Apparently there’s quite a few people who would do that.

Betting on the (Household) Bills

According to a fresh survey from U.S. News, it turns out that 51% of American sports bettors have put money on the line to try to pay their household bills. More than one in five told researchers they’d placed a bet specifically to cover rent or mortgage payments.

These findings are pretty damning for an industry that’s spent decades trying to promote sports betting as harmless fun. This is also bad timing for all the big gambling sites that are currently striving to worm their way into new markets. 

The midterm headlines were all laser-focused on that so-called “blue wave” in Congress, but new gaming rules, referendums, and campaign promises were also on the ballot everywhere from Indiana and Nebraska to Virginia and Georgia.

It looks like not every state is eager to expand the market. When you bear in mind that half of gamblers are digging themselves deeper just to try to pay utility bills, it’s not hard to see why.

The Numbers Don’t Lie

To contextualize just how widespread the issue is, let’s take a closer look at this U.S. News survey. Their team surveyed 1,200 people who’d placed a sports bet at any point within the last 12 months, and the answers they got weren’t great.

In addition to that, 51% of Americans are gambling to pay the bills, and 45% of respondents said they’d borrowed money to fund their habit. That includes 13% of bettors using personal loans and 11% relying on high-interest payday loans. Almost one in five are currently carrying outstanding debt directly related to sports betting.

And it’s not just how gamblers are funding their habit that’s concerning. Around 57% of those surveyed said they’re wagering weekly, and 17% bet daily. Among those betting daily, 40% report gambling-related debts.

It’s important to note that this isn't representative of everyone in America who likes to open up a betting app every once in a while. But these numbers are difficult to shrug off. 

After all, betting your rent money isn't the same as tossing $10 on a Monday Night Football game. It’s a sign that too many people are using a high-risk activity to manage their personal finances, and this U.S. News survey is only the latest in a long line of depressing statistics.

In 2024, a UCLA study found that legalized gambling in areas had a direct link to declining average credit scores. Legalization efforts could also be linked to increased bankruptcy rates, debt collections, debt-consolidation loans, and auto-loan delinquencies. These impacts were apparently stronger in states that allowed online gambling than the states that limited gambling to physical places like casinos.

And in February, analysis by the Federal Reserve Bank of New York reported a rise in credit card delinquencies among people under 40 following sports betting legalization. After legalization, the percentage of under-40s who are 90 days or more behind on their credit card payments clearly goes up.

Again, these studies aren’t trying to say that grown-ups can’t be trusted to make their own financial decisions. But they do say there’s increasing evidence that legalized gambling is making life difficult for more and more people who may be stuck in a vicious cycle. That’s why voters are starting to demand action.

Voters Have Just Fired Warning Shots at the Gaming Industry

There’s an obvious reason that America has been sleepwalking into an apparent gambling problem, and it all centers on tax revenue. 

In 2025, Americans legally wagered $166.94 billion on sports. And those bets generated $16.96 billion in revenue and paid $3.71 billion in state taxes. That’s a lifesaver for a lot of cash-strapped state governments, but it’s also getting politically awkward when the people who live in those states are saying those bets are contributing to financial stress. We just saw that tension play out in the November midterms.

Nebraska voters rejected two ballot measures that would’ve allowed online sports wagering. Companies like DraftKings (DKNG) and Flutter Entertainment's (FLUT) FanDuel had put a lot of money into the campaign to bring online betting to Nebraska. 

In Virginia, local referendums that would have authorized historical horse racing (HHR) machines were voted down. Voters in Indiana rejected referendums that would have allowed a new casino, and a fresh batch of attorneys general have all come out saying they oppose sports event contracts and prediction markets.

When taken in isolation, these election results don't feel earth-shattering. But together, it definitely looks like the start of a wider movement to reel in the gaming industry.

Make no mistake: Sports betting isn’t going away. The audience is too large, the tax revenue is too important, and the convenience of online wagering is just too tempting. But it looks like lawmakers are finally starting to wrap their heads around the scope of the problem here, and that likely means added consumer protections are probably on the way. Think clearer limits, restrictions on aggressive advertising, and meaningful support when betting patterns become concerning. All of that should be welcomed, although it's something shareholders should be wary of moving forward.

For individuals, the financial takeaway here is far simpler.

Your rent, mortgage, groceries, and debt should never be allowed to depend on the results of a game. If you’re placing a wager because a bill needs to be paid, your problem is no longer about getting good odds. You need to ask for support. After all, a sportsbook is not a financial plan, and the house has plenty of money already. You shouldn’t have to choose between a round robin and keeping a roof over your head.

On the date of publication, Nash Riggins did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.