Episode Details
Back to EpisodesGambling Researcher Kevin, Kansas University, Talks Sports Betting and Household Income
Description
Sports betting doesn’t just change what you watch on Sunday, it can change what you save for the rest of your life. We talk with Kevin, an assistant professor of finance at Kansas, about new research on online sports betting legalization and how it impacts household savings, investing behavior, and long-term financial stability.
Kevin and his co-authors use anonymized transaction account data from around 200,000 US households to track real money flows, including transfers to major sports betting apps and deposits into brokerage accounts like Vanguard, Fidelity, and ETrade. What they find is hard to ignore: adoption grows over time and is heavily concentrated among frequent bettors, and savings deposits fall in the aggregate even though only about 7% of households ever use a sportsbook. Among households with low savings and among heavy users, brokerage contributions drop dramatically, in some cases by more than 50%.
We also get into the real-world drivers behind the numbers: relentless sports betting advertising, “free” promos, push notifications, the parlay obsession, and live betting that makes chasing losses faster and easier. Kevin shares how he approaches these conversations with college students and why the better target for change is smarter regulation, clearer boundaries, and better research access at the state level.
If you care about financial health, gambling addiction risk, and where “entertainment” starts stealing from your future, hit play. Subscribe, share this with someone who bets, and leave us a review with your take on what fair guardrails should look like.
Kevin Pisciotta website: https://sites.google.com/udel.edu/kevin-pisciotta/home
LinkedIn: Kevin Pisciotta | LinkedIn
Paper: Online Sports Betting Is Draining Household Savings
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