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Gen Z debt growth outpaces older generations as betting rises
Gen Z is experiencing faster debt growth than any other generation. A July 2026 survey found that 45% of Gen Z respondents reported an increase in debt over the past year, surpassing millennials (39%), Gen X (34%), and baby boomers (30%). This rapid accumulation is accompanied by high levels of financial anxiety, with nearly 60% of Gen Z reporting frequent or constant debt-related stress.
Many young adults are turning to high-risk activities to manage these rising balances. According to National Debt Relief, 45% of Gen Z and 62% of millennials regularly engage in gambling, sports betting, or speculation. Research from the Bank of America Institute indicates that 40% of Gen Z view sports betting as an investment strategy, a figure double the national average.
This shift toward betting is impacting traditional financial planning. A Betterment survey revealed that 52% of Gen Z investors redirected money intended for long-term investing into sports betting in the last year. Despite the perceived opportunity, data from Bank of America shows that most bettors do not break even, with customers across all generations recovering significantly less than the dollars they wagered.
Entities
Bank of America Institute · Betterment · Gen Z · Millennials · National Debt Relief
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Debt growth rates for other generations were 39% for millennials, 34% for Gen X, and 30% for baby boomers. www.debtdiscipline.com
- [○ 1 SOURCE] 45% of Gen Z respondents reported their debt increased over the past year. www.debtdiscipline.com
- [○ 1 SOURCE] Nearly 60% of Gen Z respondents reported feeling frequent or constant stress regarding debt. www.debtdiscipline.com
- [○ 1 SOURCE] 45% of Gen Z and 62% of millennials regularly engage in gambling or speculation, such as sports betting or day trading. fishduck.com
- [○ 1 SOURCE] 40% of Gen Z Americans view sports betting as an investment, compared to 20% of the general population. fortune.com
- [○ 1 SOURCE] Gen Z and millennials accounted for 88% of all online betting activity. fortune.com
- [○ 1 SOURCE] 77% of Gen Z and 87% of millennials surveyed currently carry debt. fishduck.com
- [○ 1 SOURCE] 52% of Gen Z investors redirected funds intended for investing into sports betting during the past year. fortune.com