Axios - Americans put less money into their brokerage accounts in states where sports gambling has been legalized, Axios' Felix Salmon writes from a new paper that has caused something of a stir. Sports gambling makes more sense as an entertainment expense than an investment. Fans often report they're more engaged in the activity on the field when they have real money on the line. But if that expense comes from money that'd otherwise be invested in the stock market, the result is lower wealth and possibly less long-term financial stability.
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