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00:02Sports betting has become widespread among Gen Z, with surveys showing younger adults
00:06increasingly treating wagering as part of their financial lives, according to CNBC.
00:11Betterment found 66 percent of Gen Z respondents participate in sports betting, while Bank
00:16of America said Gen Z accounted for nearly half of online betting activity in July during
00:21the FIFA World Cup.
00:22Gen Z is more likely than other generations to view sports betting and prediction markets
00:26as investments, an association that may be reinforced by betting and traditional investments
00:31appearing on the same apps or devices.
00:33Betterment also found 52 percent move money, originally intended for investments into sports
00:38betting, while 26 percent viewed wagering as part of a long-term financial strategy.
00:42A bad credit survey found 44 percent of respondents turned to prediction markets for extra income,
00:48while experts warned that stories of quick wins can overshadow much larger losses.
00:52For all things money, visit Benzinga.com.
