90%
75%
USA
Canada
Australia
UKBettors Receive Less Than 75 Cents Back for Every $1 Sent to Betting Apps
Key Highlights
- Bettors got back less than 75 cents for every $1 sent to betting platforms, based on bank transfers observed by Bank of America.
- The data tracks money moving to and from betting apps, not total wins or losses.
- Winnings left on betting platforms are not counted until they are withdrawn.
Data obtained by Bank of America shows bettors received less than 75 cents back for every $1 sent to betting platforms in July 2026. The report breaks down recovery rates by age and income while noting key limits in the data.
Bettors Get Back Less Than They Send
Bank of America research suggests customers got back less than 75 cents for every $1 they sent to online betting platforms in July 2026, based on data published in a comprehensive online betting study. The data covers payments to and from online sports betting, horse racing, and prediction market platforms. Bank of America tracked debit card, credit card, and ACH payments tied to these companies.
The bank’s cash recovery ratio stayed below 1.0 during July 2026, meaning money coming back to customer accounts was lower than money going out. The cash recovery rate of the bank’s sports betting customers hovered around the same level in each of the prior six months as well, although there were differences among age groups and income levels.
Gen Z Had the Highest Recovery Rate
Gen Z had the highest cash recovery ratio among the age groups studied in July 2026. However, Gen Z bettors were still below the break-even level based on the money Bank of America tracked. That’s a noteworthy point considering Gen Zers are increasingly viewing sports betting as a type of investment. Higher-income Gen Z players had a recovery rate exceeding 80 cents, while lower-income people born in that era (after 1995) recovered just over 75 cents for every $1 sent to sports betting platforms.
Older groups had lower recovery rates. Gen X players (born between 1965-77) had recovery rates less than 70 cents across all income levels. Baby Boomers were even worse, with lower-income players recovering less than 60 cents for every $1.
Bank of America also warned that its figures do not measure all gambling activity, total betting volume, or each customer’s exact profit or loss.
The Data Doesn’t Show Every Win
While the numbers indicate sports betting isn’t profitable, there is a caveat. Bank of America can see money sent to betting platforms and money withdrawn back to bank accounts, but it cannot see winnings that stay inside an app or track how much casinos make each month. For some players, this could be a considerable amount of money.
This means that some bettors may have had money sitting in their betting accounts that was not included in the recovery rate calculations. Still, the findings in the report suggest online betting is not a steady source of income for most users.
