Financial literacy is tied to healthier gambling habits, a new American Gaming Association study finds, with those on predictions platforms posting a lower score than sports bettors.
While Sports bettors and prediction market users posted the highest financial literacy scores, land-based casino gamblers scored highest on the study’s measure of responsible gambling habits.
“Casinos have operated within regulated frameworks for decades and have developed extensive responsible gaming infrastructure like mandatory signage, pre-commitment tools, staff training, and operator-led intervention programs,” the AGA study said. “Consumers who gamble in these environments are routinely exposed to RG messaging and have had more time to internalize its norms.”
The study also found predictions users rated their math skills nearly as high as sports bettors but tested closer to non-gamblers, a gap the AGA says raises consumer protection concerns.
The AGA commissioned the study from Colin López and Jackson Sears of the BETS Research Center at the University of North Carolina at Chapel Hill. The researchers surveyed 3,201 U.S. adults online from July 15 to 21, 2026, with 3,149 included in the final sample. Participants reported their own habits, and the survey captured a single point in time.
How financial literacy ties to responsible play
The study measured financial literacy by giving participants a five-question test on inflation, interest rates, diversification, bonds and mortgages. Responsible play was measured with the Positive Play Scale, which covers personal responsibility, gambling literacy, honesty and control, and setting limits ahead of time.
Casino gamblers complicate the link between financial literacy and responsible play. They scored 3.84 in financial literacy, behind sports bettors (4.18) and prediction market users (4.05). Online casino players scored 3.75, the lowest among those who gamble.
Despite ranking third among gamblers in financial literacy, casino gamblers finished first on the Positive Play Scale. The other three groups followed the same order they did in financial literacy:
- Casino gamblers: 4.31
- Sports bettors: 4.21
- Prediction market users: 4.18
- Online casino: 4.15
The study attributes casino gamblers’ strong showing to the regulated environment they play in. The newness of sports betting and iGaming is still evident.
“Sports betting and iGaming, while regulated, are newer to the landscape and still maturing in their RG programming,” the study said. “The Positive Play data reflect these environmental differences.”
Kalshi, Polymarket lead predictions platforms
The AGA asked 574 prediction market users which platforms they use the most. It’s no surprise that Kalshi and Polymarket were the top two, respectively:
- Kalshi: 258
- Polymarket: 226
- Robinhood: 173
- DraftKings Predictions: 130
- Crypto.com: 106
- FanDuel Predicts: 103
- Fanatics Markets: 42
The study noted that 31% of predictions users two platforms while another 31% use three or more. Sports is also the most engaged market, with 374 users participating, while 270 engage is just sports.
“A substantial share of prediction market users are functioning as sports bettors, using prediction platforms as a functional substitute for regulated sportsbooks,” the study said.
Only 61 participants traded mention markets, which have drawn scrutiny after Commodity Futures Trading Commission staff issued an advisory cautioning that the contracts can be susceptible to manipulation and must clear a higher bar before listing.
Sports bettors show highest financial literacy
Gamblers as a whole showcased a higher financial literacy score (3.93) than non-gamblers (3.72). Sports bettors, though, had a higher financial literacy rate and objective numeracy, or math skills, than any other category.
That group displayed a 4.18 financial literacy score and a 9.56 in objective numeracy. Prediction market users finished second in both, at 4.05 and 9.30, though their math score was nearly identical to non-gamblers’ 9.28.
“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,” AGA’s VP of Research David Forman said in a statement. “Prediction market users tend to overestimate their mathematical skillset, often thinking they are better at mathematical reasoning than they actually are, unlike traditional sports bettors who have a more accurate self-assessment.”
