A recent report from the New York Federal Reserve indicates that the increasing popularity and deregulation of sports gambling are negatively affecting consumer credit health.

The new analysis highlights a direct correlation between the rise in widespread sports betting and a decline in individuals’ financial well-being. It suggests that as sports wagering becomes more accessible and legal restrictions ease across regions, it contributes to a noticeable deterioration of consumer credit profiles.

The findings underscore a developing trend where accessible sports gambling may pose a risk to the financial stability of some consumers.