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More than half of Gen Z investors have funneled cash into sports betting—but they’re not coming close to breaking even
Two in five Gen Zers view sports betting as an investment, but bettors in every generation are losing money. Researchers say the story is more complicated than financial nihilism.
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…
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