Sports betting is increasingly the norm for Gen Z. Here’s why some financial and mental health experts are worried

Wagering on sports outcomes has exploded in the 2020s , but recent surveys show just how widespread gambling has become for Generation Z . A survey of retail investors released in August by Betterment, an investment advisory platform, found that 66% of Gen Z investors participate in sports betting. The Bank of America Institute found in a September report that Gen Z made up almost 50% of all online betting activity in July , during the height of the 2026 FIFA World Cup , outnumbering millennials for the first time.