Gen Zers and Millennials Made Up Nearly 90% of Online Bettors in the US

^{Young online bettors / © Shutterstock}

In July 2026, Gen Zers* and millennials** accounted for 88% of online bettors in the US, according to Bank of America analysts cited by Barron’s.

Until June, millennials accounted for the larger share of online betting activity among the two generations. But over the summer, the balance began to shift toward Gen Z. Bank of America pointed to the FIFA World Cup as one factor driving increased betting activity among younger users.

Researchers also examined how much money bettors were getting back from sportsbooks. According to the bank, customers typically received less than 75 cents for every dollar they deposited with betting operators.

The analysts also compared account balances of bettors and non-bettors. In 2026, the typical online bettor had balances equal to just 59% of those held by customers who did not bet.

Bank of America also looked at whether Americans view betting as a form of investment. In a survey of 2,351 people, 20% of respondents considered sports betting a “non-traditional” investment. Gen Z respondents were roughly twice as likely as other participants to hold that view.

Respondents were also more likely to consider prediction-market contracts on event outcomes an investment than sports betting.

* Gen Z generally refers to people born from the late 1990s to the early 2010s.

** Millennials generally refers to people born from the early 1980s to the mid-1990s.