More than half of Gen Z investors have funneled cash into sports betting - but they’re not coming close to breaking even

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  "detected_at": "2026-10-05T06:58:00+00:00",
  "company": {
    "name": "Bank of America",
    "domain": "bankofamerica.com"
  },
  "data": {
    "url": "https://fortune.com/2026/10/05/gen-z-investors-sports-gambling-economy-lose-money-statistics-bank-of-america/",
    "title": "More than half of Gen Z investors have funneled cash into sports betting - but they’re not coming close to breaking even",
    "author": "Shae Lake",
    "excerpt": "As online sports betting surges in popularity and visibility, many Gen Zers are treating what was once a casual pastime as an investment strategy. Research from the Bank of America Institute found that one in five Americans view sports betting as an investment . Among Gen Z, that figure doubles to two in five. A recent Betterment survey of 1,000 U.S. retail investors dug deeper. It found that 52% of Gen Z investors redirected money intended for investing into sports betting in the past year, and 14% said they do so multiple times a month. Meanwhile, 26% of Gen Z investors said they treat sports betting as a deliberate part of their long-term financial strategy. The problem: Online sports betting is largely a losing game. Sportsbooks build a fee into every wager, known as the vig, which makes it difficult for a series of bets to turn a profit. BofA, 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. Gen Z fared best, with most getting back more than 80 cents per dollar - but that’s still well short of breaking even. Digital platforms also make it easier to bet often. Survey data cited by BofA found that nearly a quarter of sports bettors wager daily, while another third bet weekly. “The confluence and surging popularity of AI legal betting...",
    "product": "Research on sports betting",
    "summary": "The Bank of America Institute published research finding that one in five Americans view sports betting as an investment.",
    "planning": false,
    "image_url": "https://fortune.com/img-assets/wp-content/uploads/2026/10/GettyImages-2266671626.jpg?resize=1200,600",
    "confidence": 0.9,
    "product_data": {
      "name": "Research on sports betting",
      "full_text": "Research from the Bank of America Institute",
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    },
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      "report"
    ],
    "published_at": "2026-10-05T06:58:00Z",
    "article_sentence": "Research from the Bank of America Institute found that one in five Americans view sports betting as an investment ."
  }
}

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