26% of Gen Z Investors Treat Sports Betting as Wealth Strategy, Bloomberg Survey Shows

According to Bloomberg, on Aug. 13, a Betterment survey revealed that 26% of Gen Z investors in the U.S. treat sports betting as a "deliberate, ongoing component" of their wealth plans. By contrast, only 14% of millennials, 6% of Gen X, and 1% of baby boomers view sports betting as a wealth-building tool. The online survey gathered responses from 1,000 U.S. retail investors.

The finding aligns with a Northwestern Mutual study from March, which attributed the shift to housing unaffordability and rising living costs, pushing younger investors toward high-risk, speculative trades including prediction markets, sports betting, and cryptocurrencies to achieve financial goals quickly.