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In the fourth quarter of 2022, consumer debt rose by more than 9% compared to 2021. Higher interest rates and higher debt levels meant consumers were seeing their average minimum payments increase by $100 a month.<\/p>\n<\/div>\n
\u201cThis is a potentially worrying sign for gaming operators, as a greater share of consumers\u2019 incomes go toward servicing debt or into emergency savings,\u201d the report stated.<\/p>\n
Not surprisingly, 49% of sports bettors said they cut their discretionary spending during the last quarter.<\/p>\n
Credit Card Use a Concern<\/h2>\n
The report also found a correlation between mobile bettors and concerns about financial distress. When asked how they plan to pay current bills and loans, 22% of bettors said they plan to use existing credit cards, and 23% plan to open a new card. That\u2019s compared to just 11% and 5%, respectively, for non-bettors.<\/p>\n
\u201cMobile sports bettors indexed higher levels of intent to use their credit card balances or open new credit cards to meet their financial obligations, making them more vulnerable should economic conditions worsen,\u201d the report stated.<\/p>\n
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TransUnion also found some concerns within the high-value demographic. A third of those bettors dipped into their retirement savings within the last three months, compared to just 15% of all mobile sports bettors and 11% of non-bettors.<\/p>\n<\/div>\n
TransUnion polled 2,835 adults (18+) across the US in early November for the survey in conjunction with research firm Dynata. The results have a margin of error of 1.8 percentage points at a confidence level of 95%.<\/p>\n","protected":false},"excerpt":{"rendered":"
A survey released Thursday showed that fewer Americans bet on sports online as fears of a recession grew during 2022. The poll conducted by TransUnion found that just 11% of those questioned in the fourth quarter of 2022 wagered online, down from 19% in the second quarter of last year. Participation dropped sharply across three […]<\/p>\n","protected":false},"author":45,"featured_media":257338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[82778,84862,80968],"acf":[],"yoast_head":"\n
TransUnion Survey: Fewer Sports Bettors Online Due to Recession Fears<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n