90%
75%
USA
Canada
Australia
UKOne in Five Survey Respondents View Sports Betting as an Investment
Key Highlights
- Twenty percent of survey respondents said they consider sports betting a form of investment.
- Gen Z respondents were twice as likely to see sports betting as a way to invest.
- Prediction markets were more likely than sports betting to be viewed as investment vehicles.
Investing and sports betting both involve risk, but they work differently. Investments typically aim to build value over time, while sports bets and prediction markets depend on specific outcomes. Still, more bettors are beginning to view sports wagering as a form of investment.
Some People See Betting as Investing
Twenty percent of respondents in a recent Bank of America survey said they see sports betting as a form of investing. The Market Insights survey was conducted between March 24 and March 31, 2026, and included 2,351 people. The results were revealed alongside a Bank of America Institute (BOAI) study that revealed the online betting tendencies of Bank of America customers.
Most respondents did not view sports betting as investing. However, Gen Z was twice as likely to see it that way compared with other groups. The survey categorized Gen Z as anyone born after 1995. The results align with a 2025 Betterment survey of 1,000 Gen Z investors that revealed 52% of people in that demographic had redirected money intended for investing into sports betting accounts.
Prediction Markets Blur the Line
Prediction markets can make the difference between betting and investing harder to define. These platforms let users buy contracts based on whether a certain event will happen. Rather than waiting for the wager to settle if and when the event occurs, players can trade the contracts at different price points. Players can then spot inefficiencies in pricing, similar to arbitrage betting at sportsbooks.
Across every age group surveyed, respondents were more likely to view prediction market contracts as investments than sports bets. Prediction markets share some characteristics with financial products because users buy contracts tied to specific outcomes. Sports betting, however, may offer weaker returns than traditional investing, with the BOAI study finding that its sports betting customers recovered an average of about 75 cents for every $1 sent to betting platforms.
Regulators are Looking at New Rules
The growth of prediction markets has raised questions about how they should be regulated. Federal regulators say some event contracts can be treated like financial products, while some state and tribal regulators say certain contracts look more like regular gambling. There are ongoing lawsuits on the matter involving Kalshi and states including Nevada and Minnesota.
Lawmakers have also introduced bills aimed at creating clearer rules and stronger consumer protections. The debate is likely to continue as sports betting, prediction markets, crypto, and retail trading become more common on digital platforms.
