Abstract

 
 
 The Supreme Court’s May 2018 decision in Murphy v. NCAA removed the federal prohibition against sports betting and invited states to regulate the practice for themselves. This has launched a national debate. Advocates in favor of legal sports betting champion increased tax revenues, business for struggling casinos and racetracks, and regulation of a practice that has flourished in the shadows. Detractors warn of the social ills commonly associated with gambling, including crime, addiction, and financial waste.
 This Note provides the first empirical analysis of the impact of legal sports betting on consumer credit health. Making use of the staggered sequencing of state legalization, I find that legal sports betting accounts for a small but statistically significant increase in mortgage delinquency rates. I submit that this finding justifies caution as policymakers explore legal sports betting opportunities.
 
 
Highlights
New Jersey Governor Phil Murphy was first in line at the window at Monmouth Park racetrack on June 13, 2018.1 Monmouth, along with New Jersey’s two other racetracks and Atlantic City’s casinos, had experienced severe economic challenges in recent years.[2]
POST (Jan. 6, 2019, 6:31 PM), https://nypost.com/2019/01/06/nj-is-scoring-with-sports-betting-thanks-tonew-yorkers/ [https://perma.cc/WEY2-8JZY] (“While the Empire State drags its heels on making sports gambling legal, New York residents such as Lou Cangiano are creating their own wheels of fortune by crossing the river to plunk down their bets—spurring a windfall for the Garden State.”)
59 See Sports Betting with a Mobile Component, supra note 17, at 2–3
Summary
I am especially grateful to my brother, Russell Clarida, for his guidance and support of me throughout this project
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