21% of surveyed bettors used wagers to cover rent or mortgage, U.S. News found, amid $167bn annual sports betting spend, up 11% year-on-year.
The hit
A U.S. News survey of 1,200 recent sports bettors found 51% have placed a bet to help pay bills, with 21% wagering to cover rent or mortgage payments. Nearly one in five reported outstanding sports betting debts, U.S. News said.
Why it matters
For bettors, the numbers signal how easily wagering can blur into bill-paying rather than entertainment. Nearly half of respondents told U.S. News they’d borrowed money to bet, including payday loans, while 34% called betting a positive for their finances and 17% called it negative. Stanford research cited in the report found bettors lose 7.5 cents per dollar wagered on average, with parlay players showing the biggest gap between expectation and reality. Financial advisers quoted in the report urge bettors to treat wagering as entertainment, not income, and risk only what they can afford to lose.
The record
U.S. News surveyed 1,200 Americans who placed a sports bet in the past 12 months, according to its report. It found 51% bet to pay bills, 21% to cover rent or mortgage, and 19% carry outstanding sports betting debt. Forty-five percent said they’d borrowed money to bet, including 13% who took personal loans and 11% who used payday loans, U.S. News reported. The American Gaming Association said Americans wagered nearly $167 billion on sports through regulated books in 2025, up 11% year-on-year. Stanford University research published in April found bettors are ‘overoptimistic’, losing 7.5 cents per dollar wagered on average, with parlay bettors showing the largest bias.
| Survey size | 1,200 US bettors (U.S. News) |
|---|---|
| Bet to pay bills | 51% |
| Bet to cover rent/mortgage | 21% |
| Borrowed money to bet | 45% |
| US sports betting total, 2025 | $167bn (AGA) |
| Average loss per dollar wagered | 7.5 cents (Stanford) |
What happens next
No regulatory action is flagged in the report, but the AGA’s 2025 handle figures and U.S. News’s debt findings are likely to feature in ongoing responsible-gambling debates as prediction markets, used by over 40% of surveyed bettors, draw fresh scrutiny.
Sources: Survey: Sports Betting Has Become High-Risk Financial Lifeline
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