AGA Study: Financial Literacy Key to Responsible Gambling

The American Gaming Association (AGA) has released a new study focusing on the financial literacy of gamblers and non-gamblers. The study revealed that sports gamblers are more financially literate than non-gambling counterparts.

According to the AGA, prediction market users may overestimate their mathematical skill set. The association argues that presenting sports wagers as investments and a money-making strategy compounds the danger by encouraging users to believe they can outsmart sophisticated counterparties.

Financial literacy is a predictor of responsible play. The higher the person’s financial literacy, the higher their score on Positive Play, indicating more responsible gambling behavior. Casino players, in particular, had higher Positive Play results than any other group of gamblers, likely due to their exposure to regulated markets and responsible gaming resources.