Millennials Are Most Likely Generation to Participate in Online Sports Betting

KS&R Report, "Rise of the Digital Gamblers" also finds that 44% of online bettors engage at least once a month, with just over one-third (38%) placing weekly or more frequent bets

SYRACUSE, N.Y., Oct. 26, 2023 /PRNewswire/ -- KS&R, an industry-leading strategic consultancy and marketing research firm, today announced the release of its research report, "Rise of the Digital Gamblers: Insights into the U.S. Online Sports Betting Landscape."

KS&R queried a demographically diverse sample of nearly (3,700) consumer adults across the US. Major findings include:

Millennials comprise the largest demographic of the modern bettor.

• A whopping 75% of digital bettors are male.
• Millennials (42%) followed by Generation X (28%) are the top two generational categories.
• 44% are occasional bettors (engaging once a month), while 38% are regulars, placing bets at least weekly.

Generational nuances exist when it comes to popular sports betting.

• The top three categories for betting are:
  • Professional football (72%)
  • Professional basketball (53%)
  • College football (34%)
• Older Gen Z prefer to bet on professional basketball (66%), compared to 48% of Gen X and 35% of Boomers.
• Older Gen Z and Millennials are more than twice as likely to bet on MMA / UFC and soccer compared to older bettors.

The two most popular platforms are DraftKings and FanDuel

• While these two platforms are evenly matched overall (DraftKings at 61% and FanDuel at 59%), the youngest bettors (18-25) gravitate toward FanDuel.    

Most online sports bettors are casual gamblers.

• A plurality of bettors are only occasionally participating, placing bets at least once a month (44%).
• Just under four in 10 (38%) place bets at least weekly.
• Bucking the conventional wisdom, 89% of bettors say that their online sports betting has had no impact on how much they spend on other activities.
• Online sports bettors are also lottery fans, with 67% also playing the lottery.

"Should it be legalized in more states, there is a great deal of interest in sports betting, particularly among younger males," said Michelle Aubertine, Lottery & Gaming Specialist at KS&R. "But there are also concerns regarding overspending and possible addiction given the ease of placing online sports bet, so it'll be imperative  for online sports betting companies to prioritize responsible gaming."

To read the full report, please visit: https://www.ksrinc.com/wp-content/uploads/2023/10/Rise-of-the-Digital-Gamblers-Media-Report.pdf

About KS&R

KS&R is a nationally recognized strategic consultancy and marketing research firm that provides clients with timely, fact-based insights and actionable solutions through industry-centered expertise. Specializing in Technology, Business Services; Entercom, Recreation & Gaming; Healthcare; Retail & E-Commerce; and Transportation & Logistics verticals, KS&R empowers companies globally to make smarter business decisions. For more information, please visit www.ksrinc.com.

SOURCE KS&R