Young bettors drive gambling boom, but cracks are showing

By the numbers: TransUnion found that betting activity rose to 30% of consumers in Q2 2025, up from 25% in Q2 2024.

• Brick-and-mortar casinos remained the top venue in Q2, but online sports betting is a close second with increases in activity from those two generations.

Zoom in: Activity on online sportsbooks has risen 7% year-over-year for both Gen Z and millennial bettors.

• Land sportsbook betting is down 1% for Gen Z, but up 11% for millennials, which suggests a stronger appetite for a variety of betting experiences.

Threat level: The report lists the resumption of federal student loan repayment, trade policy uncertainty and comparatively low income as key factors in what could be a reversal of growth.

• The total monthly debt payment for millennial and Gen Z consumers is up 20% and 27%, respectively, way above the inflation rate (6%) and wage growth (8%).

The bottom line: In a statement, Declan Raines, head of TransUnion's gaming division, said sportsbooks can't ignore that many bettors are financially vulnerable and that they need solid, responsible gaming tools to help keep them safe.