Gambling Epidemic: Gen Z Bets Against Their Future
The Gen Z gambling epidemic is quietly moving a generation's money from the market to the house, and the bill comes due later. Something changed this summer. Bank of America, which monitors money moving across its customers' accounts, found that roughly 5% of its customers sent cash to an online betting platform in July, with the number of bettors up 40% since January. The Gen Z gambling epidemic stopped being a headline and became a trend line. First-time bettors in June and July ran more than triple the January pace. And here is the part that should stop every parent and every advisor cold…
The skinny
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