A recent Betterment survey of 1,000 U.S. retail investors found that 52% of Gen Z investors redirected money intended for investing into sports betting in the past year, with 14% doing so multiple times a month and 26% treating sports betting as a deliberate part of their long-term financial strategy. Bank of America, which tracked payments flowing to and from betting platforms, found that customers across every generation recovered less than 75 cents for every dollar they sent in each month this year, with Gen Z faring best at more than 80 cents per dollar but still well short of breaking even. In July, as the World Cup fueled a spike in betting activity, Gen Z and millennials made up 88% of all online betting activity, according to BofA, with Gen Z alone accounting for 48% and overtaking millennials as the largest generational share of bettors for the first time. BofA also found that median deposit balances for betting households in 2026 were just 59% of those of non-betting households, and a Federal Reserve Bank of New York study found that credit card delinquencies among sports bettors under 40 jumped 26% after legalization. A separate Urban Institute survey of more than 3,000 adults found that 17% of Gen Z adults had bet on sports in the past year, and 15% of Gen Z sports bettors said they have saved less money than they would have if they weren't betting, even as 56% of Gen Z respondents believe their personal finances will improve in the next year.
Bank of America CorpBofA is cited as the data source tracking betting payments and deposit balances, not as a subject of positive or negative news
Betterment conducted the survey on Gen Z investors diverting money to sports betting, but the article draws no clear positive or negative implication for the firm
