65% of Gen Z bettors gamble to pay off debt, survey finds
National Debt Relief warns borrowing to bet could tip young adults into a debt cycle.
The hit
National Debt Relief says 65% of Gen Z & 49% of millennials who regularly gamble, trade or bet have done so in an attempt to pay off debt, compared with 39% of Gen X & 19% of boomers.
Why it matters
For many younger people, National Debt Relief says gambling, sports betting & prediction markets aren’t just entertainment, they’re strategies to ease financial pressure. With others also borrowing to gamble, the firm warns younger generations risk falling into a debt cycle. Casino.org says there’s also increasing concern that many view betting as a viable investing strategy even more so than stocks & bonds.
The record
| Survey size | 2,000 respondents across four generations, including 1,050 millennial & Gen Z (National Debt Relief) |
|---|---|
| Debt among millennials | 87% carry debt; 73% carry unsecured debt, mostly credit cards (National Debt Relief) |
| Debt among Gen Z | 77% carry debt; 60% carry unsecured debt (National Debt Relief) |
| Gambled to pay off debt | See hit above (National Debt Relief) |
What happens next
Watch for follow-up research on credit scores & missed payments among young bettors, & whether lenders or regulators respond.
Sources: Gen Z, Millennials Are Trying to Bet Their Way Out of Debt
18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.
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