Only four states had licensed online slot machines and table games last year. Along with New Jersey and Pennsylvania, West Virginia and Delaware have regulated iGaming. Michigan’s online gaming platforms went live last month.<\/p>\n
“People have just been bombarded by stress continuously for the past year, and many people lean on their vices to help them through really difficult times,” said Matt Schulz, LendingTree’s chief credit analyst. “It’s troubling because these vices can often do far more damage than good, but I also totally understand why people fall back on them.”<\/p>\n
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Four groups spent more than $1,000 on vices last year. Millennials spent $1,258, people making over $75,000 a year from their job ($1,258), and men in general ($1,138). Most concerning is that those who were furloughed or laid off spent the highest at $1,415.<\/p>\n<\/div>\n
“If you’re tapping into savings and going into debt to pay for one of your vices, it’s possible that you could be struggling with a very real addiction. Whether that addiction involves drugs, drinking, online shopping, gaming or something else, it is a very serious thing and you should look into getting help,” Schulz concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
The COVID-19 pandemic, new research finds, has led to increased spending on various vices, including gambling. The report comes from MagnifyMoney, an online personal finance website owned by LendingTree. Researchers say that since the onset of the pandemic, the average American adult has spent nearly $950 on vices. Alcohol, cigarettes, and lottery tickets are three […]<\/p>\n","protected":false},"author":25,"featured_media":163637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"acf":[],"yoast_head":"\n
Research Shows Pandemic Has Fueled Vice Spending, Gambling<\/title>\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