Gen Z and millennials are driving the fastest growth in sports betting, but a decline may be on the horizon, according to TransUnion's latest U.S. gaming report.
Why it matters: The credit bureau says gambling responsibly is "more important than ever" due to economic uncertainty and growing debt obligations for young bettors.
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.
