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According to a recent TransUnion report, sports betting is still growing in the United States, which is consistent with other studies’ findings. In the last quarter of 2024, 26% of respondents bet, up from 24% the previous year, according to the survey, which was made public on Tuesday. The surge occurred as betting activity during the fourth quarter was driven by the football season, which includes both professional and collegiate games.
A key factor behind this rise was greater participation among Baby Boomers (ages 59 and above) and Gen X (ages 43-58). Baby Boomers’ betting involvement jumped from 10% to 17%, while Gen X participation rose from 19% to 23%. In contrast, Millennials (ages 27-42) saw a decline from 40% to 35%, and Gen Z (ages 18-26) experienced a slight drop from 32% to 31%. However, Millennials and Gen Z still make up two-thirds of all sports bettors.
“The demographic shift in betting activity serves as a good reminder that the best predictor of engagement is not age but rather increased earnings and liquidity,” said Declan Raines, head of TransUnion’s Gaming business. “Those who have a sudden influx of disposable income are more likely to participate in betting, and operators should keep that in mind when developing their marketing strategies.”
The study found that sports bettors generally remain above the national median in financial health. Across nearly all age groups, bettors were more than twice as likely as non-bettors to report better-than-expected household finances. The exception was Baby Boomers, where bettors still fared slightly better than non-bettors.
Bettors were also more likely to have seen income growth in the past quarter. Those wagering over $500 per month showed some financial volatility but reported higher income levels and credit scores compared to the previous year.
Only about 13 million bettors—5% of the U.S. adult population—placed bets exceeding $500 per month in late 2024. More than half of these high-frequency bettors had “Good” to “Excellent” credit scores. The percentage of low-income bettors with weaker credit scores declined from 2023, with only 4% falling into the “high risk” category.
“This should be a welcome sign for both operators and regulators looking to ensure safe play among users,” the survey stated. “Though there’s still work to be done, ensuring the most active bettors are financially resilient and can comfortably sustain their levels of betting activity is an important step toward reducing problem gaming.”