In states with legal sports betting, more Americans are gambling on the talents of sports stars like Patrick Mahomes and Bobby Witt Jr. more and heeding the advice of certified financial advisers less.

Households across the country are skipping the stock market and using money that could otherwise be invested to bet on sports. A study, done in part by the University of Kansas, found that households bet more than $1,100 a year on average, and as money dries up, investments drop by 14%.

“If you think about it,” said Kevin Pisciotta, an assistant professor of finance at KU, “this is a gambling opportunity, unlike most things at casinos, where you could do research to fool yourself into thinking you’ve improved your odds.”

Families wagering on over/under bets instead of the stock market is one concerning trend that could come with Missouri sports betting. But there are more, and addiction counselors who spoke with The Beacon said state regulations to stop gambling addiction are weak.

On Nov. 5, Missouri voters could legalize sports gambling by passing Amendment 2 and possibly face similar problems.

Read more at The Beacon – Missouri