Over 30% of American Bettors See Sports Betting as an Investment

^{Pictured: Jason Robins, CEO of DraftKings}

A recent survey by NerdWallet revealed that more than 30% of American sports bettors view gambling as a form of investment. Vegas Slots Online reports that with the growing number of U.S. residents placing bets in hopes of making money, DraftKings CEO Jason Robins was prompted to weigh in on the trend.

According to NerdWallet’s findings, published last month, 31% of American bettors believe that gambling can be considered a type of financial investment. That figure marks a 14% increase over the past year.

Robins stressed that bookmakers are in the business of entertainment, stating, “It’s not something that we recommend people looking at as an investment.”

The report also found that 65% of sportsbook customers in the U.S. place bets with the goal of earning extra income — a group that includes those who approach betting as an “investment.” Profit-seeking has now surpassed other motivations for betting, including entertainment (61%) and social interaction (53%).

In reality, however, many bettors end up in the red rather than ahead. The survey found that 14% of respondents admitted to borrowing money to continue wagering.

For context, Americans wagered more than $30 billion on sports in the third quarter of 2024 alone.