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<ul class="summary-list"><li>Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints.</li><li>The move and unusual price fluctuations for avocados have hit the chain's profitability.</li></ul>It has been a big year for <a target="_blank" href="https://www.businessinsider.com/chipotle-portion-size-inconsistencies-robots-automation-human-employees-2024-7">the humble scoop</a> — at Chipotle, at least.It started when dissatisfied customers, protesting against what they saw as skimpy or inconsistent serving sizes at the restaurant chain, took to social media this summer to complain <a target="_blank" href="https://www.businessinsider.com/chipotle-customers-film-workers-over-small-portion-sizes-2024-5">and to try to maximize their meals</a>.Then, investors noticed, with one <a target="_blank" href="https://www.cnn.com/chipotle-portion-sizes-smaller-test/index.html">analyst</a> going so far as to order 75 <a target="_blank" href="https://www.businessinsider.com/chipotle-boy-bowl-promo-vest-wearing-finance-bros-2024-6">chicken and rice bowls</a> from eight New York City Chipotle locations and finding that the total weight of each varied considerably.All the scrutiny prompted the burrito-and-bowl chain to embark on an initiative to make sure <a target="_blank" href="https://www.businessinsider.com/chipotle-portion-size-social-media-drama-means-more-generous-meals-2024-7">everyone is getting a consistent meal</a> with every visit. "We know that portioning is a core equity of ours in the organization," interim CEO Scott Boatwright said during Tuesday's third-quarter earnings call. "We are committed to ensuring that we give the right portion to every guest that walks into the building."While that's good news for Chipotle diners, the chain said it was partly the reason for a hit to profitability in the last fiscal quarter."The benefit of last year's menu price increase was more than offset by inflation across several items, most notably avocados and dairy, as well as higher usage as we focused on ensuring consistent and generous portions," CFO Adam Rymer said on the call. Rymer detailed that an unusual price trend for avocados — which he said had "abnormally low" prices last year — and the portion "investment" combined to create more than a percentage point drag on profits.It appears to be money well-spent, however, as Boatwright highlighted significant improvement in internally tracked customer satisfaction metrics compared to the spring."We know we're delivering value for the consumer, especially in this really tight environment, and we'll continue to lean into that," he said.

Chipotle says ensuring 'consistent and generous portions' has taken a toll on its profitability

Union Minister <keyword id="19897455" type="General" weightage="20" keywordseo="Nitin-Gadkari" source="keywords">Nitin Gadkari</keyword> has said that <keyword id="22181136" type="General" weightage="20" keywordseo="highway-agencies" source="keywords">highway agencies</keyword> should not charge tolls if <keyword id="20028505" type="General" weightage="20" keywordseo="roads" source="keywords">roads</keyword> are not in good condition. Gadkari was speaking at a global workshop on satellite-based tolling, set to be implemented over 5,000 km this financial year. "If you don't provide good quality service, you should not charge <keyword id="20071846" type="General" weightage="20" keywordseo="toll" source="keywords">toll</keyword>... We are in a hurry to start tolling to collect <keyword id="20085256" type="General" weightage="20" keywordseo="user-fee" source="keywords">user fee</keyword>s and protect our interest," the road transport and highways minister said. "You should collect the user fee where you provide the best <keyword id="22190322" type="General" weightage="20" keywordseo="quality-road" source="keywords">quality road</keyword>. If you collect toll on roads with potholes, mud, then there will be a backlash from people," he added. State-owned <keyword id="20198815" type="General" weightage="20" keywordseo="NHAI" source="keywords" meta.keywordsubtype="org" meta.entityname="NHAI" meta.hostid="261" meta.entityid="NHAI">NHAI</keyword> plans to implement (Global Navigation Satellite System) <keyword id="21980580" type="General" weightage="20" keywordseo="GNSS-based-Electronic-Toll-Collection" source="keywords">GNSS-based Electronic Toll Collection</keyword> (ETC) system within the existing <keyword id="22190323" type="General" weightage="20" keywordseo="FASTag-ecosystem" source="keywords">FASTag ecosystem</keyword>, initially using a hybrid model where both (Radio Frequency Identification) RFID-based ETC and GNSS-based ETC will operate simultaneously. NHAI proposes to roll this out on commercial vehicles initially then private vehicles, considering scalability and privacy concerns. The highway authority has also recommended driver behaviour analysis and back-end data analysis for fraud detection. "With GNSS, the payment modes might be converted from prepaid to postpaid. Banks and financial institutions might be able to provide faster credits based on travel plans," NHAI has recommended.

Highway agencies should not charge toll if roads are not in good condition: Highway Minister Nitin Gadkari

<ul class="summary-list"><li>Two new studies found that sports betting has taken a toll on some Americans' finances.</li><li>Sports betting was tied to lower credit scores and less investing in assets like stocks.</li></ul>Football season is right around the corner — when millions of Americans will bet on everything from who will <a target="_blank" href="https://www.businessinsider.com/super-bowl-prop-bets-travis-kelce-taylor-swift-engagement-2024-2">win the Super Bowl</a> in February to how many passing touchdowns Denver Broncos quarterback Bo Nix will throw during his rookie season.For the majority of gamblers in the <a target="_blank" class="" href="https://www.actionnetwork.com/news/legal-sports-betting-united-states-projections">38 states</a> plus DC, where <a target="_blank" href="https://www.businessinsider.com/sports-gambling-sportsbook-wall-street-betting-hedging-2024-5">sports betting</a> is legal through a combination of retail and online sportsbooks, their wagers are likely to have a modest impact on their finances — most people <a target="_blank" class="" href="https://www.businessinsider.com/sports-betting-fanduel-draftkings-advice-super-bowl-common-mistakes-2024-2">don't get rich</a> betting on sports. Meanwhile, many bettors will chalk up their gambling losses as worthwhile entertainment expenses.However, some gamblers could end up regretting more than their losing bets. That's because there's growing evidence that <a target="_blank" href="https://www.businessinsider.com/rising-stars-sports-betting-and-gaming-at-draftkings-fanduel-more-2024-6">sports gambling</a> is taking a toll on some Americans' finances.A <a target="_blank" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4903302">working paper</a> published in August by University of Southern California and University of California Los Angeles researchers found that sports gambling is "harming consumer financial health." In the 30 states with just legal online sports gambling, the average credit score declined by about 1% roughly four years after legalization, and bankruptcy likelihood increased by 28% after about two years. The analysis was based on financial information of roughly 7 million US adults, which was provided by the University of California Consumer Credit Panel."We find broad evidence that legal sports betting, and in particular mobile/online access to betting, has led to significant increases in problematic debt activity and a worsening of consumer financial health," Brett Hollenbeck, one of the paper's authors, <a target="_blank" href="https://x.com/econominable/status/1816217781416718534?utm_campaign=mb&amp;utm_medium=newsletter&amp;utm_source=morning_brew">wrote</a> on X.Another <a target="_blank" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4881086">working paper</a>, published in July by Northwestern University, the University of Kansas, and Brigham Young University researchers, found that for every $1 a person bet on sports, it <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-investing-impact-legal-sport-betting-gambling-study-2024-8">reduced their net investment</a> in financial instruments like stocks by roughly $2 on average. Net investments in a state typically fell about 14% in the two to three years after sports betting was legalized, and among some households, sports betting was associated with rising credit card balances and overdraft payments. The analysis was based on a dataset of billions of US consumer transactions between 2010 and 2023, which was provided by a data aggregation and analytics platform."Our results show that not only does sports betting lead to increased betting activity, but it also leads to higher credit card balances, less available credit, a reduction in net investments, and an increase in lottery play," the researchers wrote.In recent years, the widespread legalization of sports betting has convinced many Americans to get in on the action. The total amount wagered on sports in the US rose to $14 billion in January 2024 from about <a target="_blank" href="https://www.sportsbookreview.com/news/us-betting-revenue-tracker/">$1 billion</a> in January 2019, and a Seton Hall University <a target="_blank" class="" href="https://www.shu.edu/business/news/sports-poll-finds-slowed-growth-for-sports-betting.html">poll</a> of 1,523 US adults conducted in February found that 37% of Americans had bet on a sporting event, up from 34% in 2023 and 28% in 2022.While the industry has boosted states' tax revenues, created jobs, made some people a lot of <a target="_blank" href="https://www.axios.com/local/charlotte/2024/03/21/online-mobile-sports-betting-apps">money</a>, and entertained millions, some experts have raised concerns about the financial impact sports betting losses could have on some Americans — and questioned whether the benefits of the industry <a target="_blank" href="https://www.washingtonpost.com/opinions/2024/05/14/sportsbooks-sports-gambling-prop-bets-state-tax-jontay-porter/">outweigh</a> the potential costs.<h2 id="8c71879a-9975-433e-bb12-31aef60d06bc">Sports betting can lead to addiction and harm low-income Americans</h2>When sports betting becomes a problem for one's finances, gambling addiction tends to be one of the main culprits. A Siena College <a target="_blank" href="https://scri.siena.edu/wp-content/uploads/2024/02/ASFS_Release-2_-Online-Sports-Betting.pdf">poll</a> of over 3,000 Americans conducted in January found that 15% of respondents knew someone who has or had a problem with online sports betting. Among those who had placed bets with an online sportsbook, 18% said they'd had trouble meeting a "financial obligation" due to a gambling loss."We believe, nationwide, the rate and severity of gambling problems have increased across the United States since 2018," Keith Whyte, executive director of the National Council on Problem Gambling, <a target="_blank" class="" href="https://www.nbcnews.com/health/mental-health/gambling-addiction-hotline-calls-online-sports-betting-rcna145539">told</a> CNBC in April. In 2018, the Supreme Court <a target="_blank" class="" href="https://www.businessinsider.com/states-where-sports-betting-legal-usa-2019-7">lifted the federal ban</a> on sports betting, clearing the way for its legalization across the country.Online sportsbooks such as FanDuel and DraftKings provide bettors with responsible gaming <a target="_blank" href="https://www.draftkings.com/about/responsible-gaming/?wpsrc=Organic%20Search&amp;wpaffn=Google&amp;wpkw=https%3A%2F%2Fwww.draftkings.com%2Fabout%2Fresponsible-gaming%2F&amp;wpcn=about&amp;wpscn=responsible-gaming%2F">resources and tools</a>, including information on where they can <a target="_blank" href="https://www.fanduel.com/responsible-play/about">seek help</a> in their state. Many platforms also allow bettors to place <a target="_blank" href="https://sportsbook.draftkings.com/help/responsible-gaming?wpsrc=Organic%20Search&amp;wpaffn=Google&amp;wpkw=https%3A%2F%2Fsportsbook.draftkings.com%2Fhelp%2Fresponsible-gaming&amp;wpcn=help&amp;wpscn=responsible-gaming">restrictions</a> on their deposits, wages, and time spent on the platform.However, some experts believe significant risks remain."Here's a product that we know is addictive," Timothy Fong, co-director of the UCLA Gambling Studies Program, <a target="_blank" href="https://www.businessinsider.com/sports-betting-addiction-warns-bettors-lose-money-march-madness-2023-3">previously told Business Insider</a> regarding sports betting. "Here's an American appetite for that product. And then you combine the forces of a very powerful and effective industry combined with technology. This is where potentially it could go really bad."When sports betting leads to financial challenges, it tends to be low-income Americans who are the most impacted.The USC and UCLA analysis found that young men, particularly those based in low-income counties, were the most likely to see their financial health deteriorate due to online sports betting. Additionally, the Northwestern, Kansas, and BYU researchers found that "financially constrained households" with less savings were more likely to "divert funds from their investment portfolios to betting activity."Gambling has long had a disproportionately negative impact on the finances of lower-income Americans. An <a target="_blank" href="https://www.economist.com/graphic-detail/2024/04/02/the-economics-of-american-lotteries">analysis</a> from The Economist published in April found that in the poorest 1% of US zip codes, the average adult spends nearly 5% of their annual income on lottery tickets — or around $600 a year. The richest 1% of zip codes spent 0.15% of their incomes on average, or $150 a year.The impact of gambling on people's finances isn't the only reason the sports betting boom has received mixed feedback in recent years.For example, some sportsbooks haven't <a target="_blank" href="https://www.washingtonpost.com/sports/2024/01/17/sports-bets-errors-payouts/">paid out</a> winning customers because of errors in their betting odds, which they said gave bettors an unintended advantage. Others have placed <a target="_blank" href="https://www.washingtonpost.com/sports/2022/11/17/betting-limits-draft-kings-betmgm-caesars-circa/">significant limits</a> on how much money some of their most successful bettors can wager. While these developments have frustrated some gamblers, these sportsbooks generally haven't violated any laws or regulations.Additionally, while sports betting has generated millions of dollars in tax revenues, the proceeds have <a target="_blank" href="https://www.fox10phoenix.com/news/sports-betting-arizona-revenue">fallen short</a> of expectations in some states — and not everyone thinks the tax dollars have been wisely spent. In Arkansas, roughly 18% of tax proceeds go to "horse breeding awards and racing purses," according to a Bloomberg <a target="_blank" class="" href="https://news.bloombergtax.com/financial-accounting/states-spend-money-from-sports-betting-in-strange-places">analysis</a>. Between the second quarter of 2023 and the first quarter of this year, less than 2% of US sports betting tax dollars went to problem gambling programs.In the years ahead, the sports betting industry could see some changes, including <a target="_blank" href="https://frontofficesports.com/more-states-hiking-sports-betting-taxes-eyeing-revenue-windfall/">higher taxes</a> and <a target="_blank" href="https://affiliate.insider.com?h=710b8e78807ba9d19695e87cd1d217595594ee44e28274a9241dd581a1d0d883&amp;postID=66c39a24b9a36536265541f4&amp;postSlug=sports-betting-legalization-hurts-americans-finances-credit-score-investing-stocks-2024-8&amp;site=bi&amp;u=https%3A%2F%2Fwww.espn.com%2Fespn%2Fbetting%2Fstory%2F_%2Fid%2F39766929%2Fcongressman-paul-tonko-introduce-legislation-aimed-sports-betting-marketing-tactics">increased regulation</a> of its marketing practices to minimize the risk of problem gambling. The former could boost states' tax coffers but potentially lead to fewer <a target="_blank" class="" href="https://www.businessinsider.com/espn-bet-sports-betting-penn-entertainment-disney-deal-barstool-sportsbook-2024-5">promotions</a> and less favorable odds for bettors, sportsbooks say.For industry executives, arguably the biggest change would come if <a target="_blank" href="https://www.latimes.com/opinion/story/2024-03-29/shohei-ohtani-california-sports-betting-gambling-dodgers">California</a> and <a target="_blank" href="https://www.kwtx.com/2024/02/09/sports-gambling-texas-approaching-super-bowl-weekend/">Texas</a> — the two most populous states in the nation — legalized sports betting. Despite these states' <a target="_blank" class="" href="https://www.businessinsider.com/moved-california-texas-conservative-affordable-realtor-helps-others-2023-8">political differences</a>, a variety of factors have prevented many of their lawmakers and citizens from getting on board, and it remains unclear when — or if — legalization will happen.Regardless of how it plays out, the US sports betting boom — and efforts to evaluate its impact on society — appear to be in the early innings.If you or someone you know has a gambling addiction, call the <a target="_blank" href="https://www.ncpgambling.org/help-treatment/national-helpline-1-800-522-4700/">National Council on Problem Gambling Helpline</a> (1-800-522-4700), which provides resources and referrals for all 50 states, Canada, and the US Virgin Islands. Help is available 24/7 and is 100% confidential.Are you a sports bettor willing to share your story? If so, reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

Sports gambling is taking a toll on Americans' finances

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Chipotle says ensuring 'consistent and generous portions' has taken a toll on its profitability

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Highway agencies should not charge toll if roads are not in good condition: Highway Minister Nitin Gadkari

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