Arnold Ventures Awards Millions in Grant Money for Sports Betting Research

• Arnold Ventures today announced $2.6 million in grants for sports betting research
• The funding will support 12 new research grants
• The studies will examine the impacts of sports betting on financial well-being, mental health, consumer behavior, and more

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Arnold Ventures, a philanthropy supporting evidence-based research focused on criminal justice, higher education, health, infrastructure, and public finance, today announced 12 new research grants to support studies on the impact of legalized sports betting in the U.S.

The philanthropy today announced $2.6 million to fund 12 independent studies of the sports betting industry in the U.S.

​“Just a few years ago, most Americans had to travel significant distances to legally gamble on sports. Today, access to gambling has become so widespread that, in most of the country, anyone with a smartphone could effectively have a casino in their pocket,” Justin Milner, Arnold Ventures’ Executive Vice President of Evidence & Evaluation, said in a press release. ​“These research projects will shed light on the impacts of this new reality and help policymakers weigh important decisions about whether to legalize gambling, how to regulate it, and how to effectively reduce harm for their constituents.”

Millions in Grants for Studies

The $2.6 million in funding will be awarded to various universities across the U.S. to study the impacts of gambling on financial well-being, household formation, mental health, consumer behavior, and other topics related to sports betting.

It’s the hope of Arnold Ventures, according to the philanthropy, the published studies will help policymakers “better understand how the rise of online sports betting has impacted their constituents.”

Most of the funding will go to universities throughout the country for studies.

Today Arnold Ventures awarded 12 new research grants to build evidence on how legalized sports betting is affecting individuals, families, and communities.

The projects will help fill critical evidence gaps as states weigh questions around legalization, regulation, and harm… pic.twitter.com/BVqOFySxjF

— Arnold Ventures (@Arnold_Ventures) July 7, 2026

Consumer Behavior and Risk

Arnold Ventures will fund four studies on sports betting evidence on consumer behavior and risk. The studies will be conducted as follows:

• Behavioral Insights Inc. 2026 to 2027: Examining how sports bettors perceive the likelihood of winning parlays and how they react to “near misses,” such as a parlay losing by one leg. Seeing if targeted messages following “near misses” can interrupt play and influence betting behavior among 12,000 participants.
• University of Wisconsin System. 2026 to 2028: Examining how financial shocks and betting outcomes, such as wins, losses, and promotional incentives, can shape betting behavior over time.
• West Virginia University Foundation, Inc. 2026 to 2029: A study investigating “loss-chasing” behavior in online sports betting and how it influences spending and risk taking behavior.
• UCLA. 2026 to 2028: Evaluating how exposure to sports betting advertisements can affect behavior, such as betting behavior, app downloads, and engagement.

Evaluating Financial and Household Impacts

Arnold Ventures will fund four studies on the impact of sports betting on finances and the household. The studies will be conducted as follows:

• University of Wisconsin-Madison. 2026 to 2027: A quasi-experimental study on the impact of legalized sports betting and credit card delinquency across the U.S. Will also evaluate spillover across state lines in neighboring states where sports betting is illegal.
• University of New Hampshire. 2026 to 2028: Study analyzing how gaining or losing access to legal sports betting through interstate travel affects individuals’ financial outcomes, focusing on credit health and financial distress.
• Princeton University. 2026 to 2028: Study examining the impact of sports betting on housing and financial insecurity among renters. Evaluating eviction filings and foreclosure rates.
• University of Texas at Austin. 2026 to 2027: How legalized sports betting influences family well-being, with a focus on marriage rates.

Evaluating Public Health and Social Outcomes

Arnold Ventures will fund three studies on the impact of sports betting on public health and social outcomes. The studies will be conducted as follows:

• University of Pennsylvania. 2026 to 2028: A study evaluating the legalization of sports betting associated with suicide rates across the country.
• Vanderbilt University Medical Center. 2026 to 2027: The impact of legalized online sports betting on changes in mental health diagnoses, prescription rates, and mental health care.
• Indiana University: 2026 to 2029: Evaluating how legalized sports betting impacts behavioral health care spending and indicators of social well-being.

Informing State Policy and Revenue Considerations

Arnold Ventures will fund a final study on state policy and revenue considerations. The study will be conducted as follows:

• Urban Institute. 2026 to 2029: Study evaluating how legalized sports betting affects state tax revenues. Will examine fiscal outcomes across jurisdictions to see if projected revenue estimates materialize over time.