This summer’s FIFA World Cup packed stadiums across North America and drew record audiences. It also got a large number of millennials and Gen Zs to place their first sports bets.
That’s the finding of a new Bank of America report tracking a surge in online betting over the summer. The number of first-time bettors in June and July more than tripled those in January. Overall participation in online betting through prediction markets and sports-betting sites rose 40% during the month of July, compared with the start of the year, according to the bank.
“Online betting is moving further into the financial mainstream,” said Bank of America Institute economist Taylor Bowley.
