PSCU Payments Index March 2024: A Deep Dive into Gambling

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. 

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. 

Subscribe to our mailing list to receive the PSCU Payments Index delivered directly to your inbox each month.