The popularity of sports betting continues to rise across North America, fueled by online platforms and growing adoption among younger demographics. However, this expansion comes with both opportunities and financial challenges for players, as recent studies reveal.
US Market Growth and Demographic Shifts
According to the TransUnion® US Betting Report, 26% of Americans participated in online or land-based gambling in Q4, up from 24% the previous year. The increase is being driven by older generations, including Baby Boomers and Gen X, while Millennial participation fell from 40% to 35%.
Younger bettors, particularly Gen Z and Millennials, remain highly active in online formats, comprising 34% and 42% of US betting activity in Q2 2025, respectively. The report notes these demographics are often urban renters, heavy mobile trading app users, and early adopters of cryptocurrencies, highlighting an overlap between speculative financial behavior and gambling participation.
Land-based venues still dominate overall participation, with 55% of bettors frequenting casinos. Yet online gambling is growing rapidly: 52% used online sportsbooks, 49% played online casino games, and 41% tried online lotteries. Millennials were particularly influential in boosting activity across nearly all verticals, while Gen Z engagement increased primarily in online sports betting.
Financial and Social Impacts
Despite growth, financial stress is mounting among younger players. Gen Z and Millennials saw monthly debt payments rise 27% and 20% year-on-year, exceeding inflation and wage growth. Gen Z also experienced a drop in average credit scores to 676, largely due to student loan repayment resumption.
Social risks are evident as well. A study by Intuit Credit Karma found that 23% of sports bettors reported addiction, 22% experienced financial distress, and 48% cited mental health issues, including depression. Gen Z was the most vulnerable, with 37% identifying as addicted—14% higher than the national average. Experts link this to the accessibility of online betting, which removes traditional friction and encourages frequent engagement.
Regulatory Response
In response, states like New Jersey are formalizing responsible gambling measures. Keith Whyte, founder of Safer Gambling Strategies LLC said, “Raising and formalising their standards shows leadership and provides a template for other states to follow.” He also advocates for consistent minimum-age regulations and universal self-exclusion systems to protect youth aged 18–21.
Canadian Market Insights
Sports betting remains popular in Canada, though slightly less so than in the US. Only 19% of Canadians reported wagering on sports in the past year, down from 21% in 2024, compared to 26% of Americans, down from 30%. Fantasy sports participation is also lower in Canada (14%) versus the US (18%).
The NHL remains Canada’s top betting sport, with 41% of bettors wagering on hockey, while the NFL is dominant among Americans, with 59% participation. Despite some declines, a core group of bettors in both countries plans to increase wagering in the upcoming season, especially for NBA, NHL, and NFL contests.
Advertising saturation is a growing concern: 75% of Canadian respondents feel there are too many sports betting ads, up from 72%, and 51% oppose direct partnerships between media companies and betting operators. US concerns are rising as well, with 59% noting excessive advertising.
Overall, North America’s betting market continues to expand, with younger demographics driving adoption and online platforms leading growth.
Source:
“US Betting Report: The rise of online sports betting”, transunion.com, September 2025
Source:
“Market Updates on Sports Betting and Fantasy Sports in Canada and the US”, leger360.com, September 18, 2025
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