Spending in many categories increased since the pandemic. But one notable area is personal gambling, according to data from the St. Louis Fed. In the early days of the pandemic, people at home with money in their pockets turned to gambling apps. This was in addition to other forms of risk taking, like day trading or investing in crypto currencies. But since the country re-opened and savings began to wane, the pace of gambling growth has slowed. Though its popularity continues to rise as access to gambling outlets continues to increase.
Source: Federal Reserve Bank of St. Louis
Allison Schrager is a senior fellow at the Manhattan Institute. Follow her on Twitter here.
Interested in real economic insights? Want to stay ahead of the competition? Every Wednesday, e21 delivers a short email that includes e21 exclusive commentary and the latest market news and updates from around the Web. Sign up for the e21 Weekly eBrief.
Photo by andresr/iStock
