Online sports betting has been linked to lower credit scores, higher debt, and more bankruptcies… as if watching your favourite sports team lose wasn’t painful enough. In states where sports betting has been legal between two and four years, credit scores have dropped by 1%, debt collection amounts are up 8%, and the likelihood of bankruptcy filings are up 25% to 30%. According to researchers, “this finding underscores the potential for sports betting legalization to exacerbate financial vulnerability and hardship.” Sports betting is impacting the long-term finances of households, too, with every dollar being put towards a sports bet influencing a $2 drop in a household’s total investments. This can be especially tempting for those who are looking for a get-rich-quick solution to their financial issues, often targeting young men and lower-income households that are already struggling. In Canada, sports gambling is on the rise too. In the last fiscal year, $63 billion was wagered on websites registered in Ontario, almost double what was spent the year before.