PSCU Payments Index March 2024: A Deep Dive into Gambling
Summary: While consumer sentiment indexes showed mixed optimism, actual consumer spending remained steady for February 2024. In the March 2024 edition of the PSCU Payments Index, we revisit a Deep Dive on Gambling following the record-breaking betting occurring at Super Bowl LVIII.
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Key takeaways include:
- Including Feb. 29 (“leap day”), debit purchase growth was 7.1% for February, continuing to outpace growth in credit purchases, which were up 3.6%. For transactions, debit grew 6.8% and credit grew 5.5% year over year.
- On a normalized basis (omitting leap day) debit purchases were up 2.7% and credit purchases were down 0.4%.
- The Consumer Price Index (CPI-U) increased 0.4% in February, while the 12-month rate of inflation was 3.2%. Shelter and Gasoline contributed 60% of the increase.
- Gambling, fueled by further expansion of Government Licensed Internet Gambling to a total of 38 states, posted strong results in February.
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