Washington – September 25, 2026 -- Gamblers scored 3.93 out of five on a standard financial literacy index versus 3.72 for non-gamblers, according to new research commissioned by the American Gaming Association (AGA), with 41% of gamblers classified as highly financially literate compared with 27% of non-gamblers.
Prediction market users overstate their mathematical ability, study finds
Sports bettors demonstrated the highest combination of mathematical confidence and objectively tested capability among all gambling segments surveyed. Prediction market users reported nearly equivalent confidence levels but performed on objective math tests at levels closer to non-gamblers, exposing a gap between self-assessed skill and actual ability.
"This study shows that, contrary to popular belief, gamblers are financially savvy entertainment consumers -- especially sports bettors who demonstrate a particularly high level of financial literacy and mathematical capability," said David Forman, AGA's Vice President of Research. He said prediction market users "tend to overestimate their mathematical skillset, often thinking they are better at mathematical reasoning than they actually are."
Financial literacy correlates with responsible gaming behavior, researchers report
Participants with moderate or high financial literacy scored significantly higher on the Positive Play Scale than those with low literacy, according to the study. Casino players posted the strongest responsible gaming scores of any segment, a result researchers attributed to longstanding exposure to responsible gaming resources in mature, regulated environments.
AGA flags consumer-protection risk in prediction markets framing bets as investing
The report warns that presenting sports wagers as investment strategies against "peers" may lead consumers to underestimate risk against what are often sophisticated counterparties. Forman said the findings reinforce that gambling should be treated as entertainment rather than a financial strategy, and identified a potential link between financial literacy and responsible gaming warranting further research.
Survey covered 3,149 U.S. adults across five gambling segments
Researchers Colin López of IN Research & Analytics LLC and Jackson Sears of Matrix Consulting Group of North Carolina, both co-founders of the Betting, Experience, and Trading in Sports (BETS) Research Center, conducted a national online survey of 3,201 U.S. adults via Prolific from July 15-21, 2026. After data-quality screening, the final sample totaled 3,149 respondents: 537 sports bettors, 574 prediction market users, 557 casino players, 495 iGaming users and 986 non-gamblers, with a margin of error of plus or minus two percentage points at the 95% confidence level.