Report Finds Rising Betting Among Gen Z and Millennials

A new study from TransUnion highlights a rise in consumer betting during Q2 2025. The report found that 30 percent of consumers placed bets compared to 25 percent in the same period of 2024. Growth was led by Gen Z and Millennial bettors, particularly those drawn to speculative opportunities in both finance and entertainment.

Good to Know

• Land-based casinos remain the top betting venue, with online sportsbooks close behind.
• Millennials increased activity across all betting channels, while Gen Z growth was limited to online sports betting.
• Younger adults most likely to bet were renters, frequent mobile app users, and more engaged with crypto trading.

Declan Raines, head of TransUnion Gaming, said the findings underline the importance of understanding younger audiences:

“Though gambling is up across almost all generations, younger adults have returned to being the most active consumer segment. This report helps operators better understand these consumers so they can optimize their marketing efforts.”

Millennials increased activity in nearly every category, from casinos and sportsbooks to online lottery platforms. Gen Z, on the other hand, showed a 7 percent increase in online sports betting but little change in other areas.

Data from TransUnion’s TruAudience Customer Intelligence Platform showed that urban renters with higher mobile app usage rates were the most active in betting. Many in this group also engage with cryptocurrency platforms and online trading. Millennials within this segment were more likely to own homes and have children compared to Gen Z.

Raines said:

“We used TransUnion marketing solutions to better understand the profile of regular bettors and a pattern of financial speculation emerged. These segments were also more likely to invest for big payoffs in the stock market, go on adventure vacations, and make impulse purchases.”

Financial Risks on the Rise

While engagement continues to grow, the report pointed to financial pressures among younger consumers. Monthly debt payments for Millennials are up 20 percent, while Gen Z saw a 27 percent rise, far above wage growth or inflation. Rising costs tied to housing, student loans, and tariffs may eventually limit discretionary spending on betting.

The analysis concluded that sustainable betting growth depends on balancing consumer appetite with financial realities. Discretionary income remains the strongest predictor of whether someone engages in gambling activity.

Responsible Gaming as a Priority

TransUnion urged operators to focus on sustainability and consumer protection. Raines explained:

“Operators must be sensitive to the precarious nature of bettors’ finances and utilize a robust responsible gaming platform to help protect them. Such measures are especially popular among Gen Z bettors, who are on track to become the dominant consumer segment, spending more per capita than any other generation.”

The report ultimately framed responsible gaming as a path to long-term trust and stability in the market.