Millennials Lead in Sports Betting, Black Men Gamble at Higher Frequencies Than White Men.
Posted on: August 23, 2023, 05:09h.
Last updated on: August 23, 2023, 06:16h.
In terms of frequency of wagering, millennials gamble on sports more than other age groups and within that demographic, African-American men place more bets than their Caucasian counterparts.
A DraftKings picture on a mobile phone. A Study carried out by Men's Health shows that millennials gamble on sports more than other age groups. (Picture: Crain's New York Business)That's according to a survey by Men's Health that served as the basis for a comprehensive, multi-article series on the state of regulated sports betting in the US. The magazine surveyed 3,800 men, of which 1,500 admitted to placing at least one sports bet in the past year.
The idea that millennials place more sports bets than other age groups aligns with previous research from other sources. While other surveys have examined the sports betting habits of men and women, few have focused on racial data. The Men's Health survey states "more millennial African-American men bet frequently than millennial Caucasian men," but does not mention other groups such as Asian-Americans or Latinos.
Nevertheless, the "standard" sports bettor is a Caucasian male between the ages of 25 and 34, according to the magazine. Eighty percent of them spend up to six hours a day gambling.
More Significant Findings in Men's Health Survey
Millennials' inclination for increased sports betting frequency may be partly due to that generation's ease with technology. Seventy-six of the men surveyed by Men's Health stated they place their bets through a mobile application or on a computer, and two-thirds said their betting frequency has risen due to the advancement of app-based betting.
The surveyed individuals noted that the sports they bet on the most are football, basketball, and baseball, in that order. This aligns with long-term data. Interestingly, 61% of respondents said DraftKings is their preferred sportsbook, while 56% said the same for FanDuel.
FanDuel is by far the biggest online sportsbook operator in the US. Almost one-third of respondents said they prefer BetMGM.
Another interesting finding by Men's Health is that 56% of the respondents mentioned they prefer betting on professional sports over college athletics. In comparison, only 39% admitted to placing bets on college and professional games.
While the realm of sports betting has certainly emerged "out of the shadows" ever since the 2018 Supreme Court verdict on the Professional and Amateur Sports Protection Act (PASPA), approximately 34% of males find commercials aired by sportsbook companies during games bothersome, and 38% argue that broadcasters should abstain from mentioning betting while on the air.
The Persistence of Unregulated Betting
In the present day, some variation of sports wagering is legally allowed in 34 states and Washington, DC, with Kentucky soon to join their ranks, raising the count to 35. A number of the leading online sportsbook providers presently cater to around 40% or more of the adult population in the United States.
However, the survey conducted by Men's Health magazine implies that unregulated betting continues to thrive. Furthermore, the typical bettor, who falls within the 25 to 34-year-old age range, is a Caucasian male residing in California, Florida, New York, or Pennsylvania, according to the publication.
Out of those four states, only New York and Pennsylvania presently grant permission for mobile sports wagering. At this juncture, Florida's situation with sports betting is uncertain, as it awaits a verdict from the courts, while it may be a number of years before California even contemplates reconsidering the matter.
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