Decreased Consumer Liquidity Helped Dampen Overall Betting Activity in Q4 2023; Millennials Buck the Trend
TransUnion report finds high-income Millennials proved to be dominant force across gaming channels
CHICAGO, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Decreased consumer liquidity, primarily caused by rising debt and delinquencies, drove betting activity down
All generations reported decreased betting activity, except Millennial bettors—
Bettors’ Reported Household Finances, by Generation
Generation | Better Than Planned | As Planned | Worse Than Planned |
Gen Z | |||
Millennials | |||
Gen X | |||
Baby Boomers |
“TransUnion’s continued research has found that betting activity is inextricably tied to increased liquidity,” said Declan Raines, head of TransUnion’s gaming business. “When consumers find extra cash, they are far more likely to wager it.”
The research comprised an online survey of 3,000 adults in late September to early October 2023, as well as an analysis of gaming industry performance and consumer liquidity, leveraging TransUnion’s proprietary CreditVision® attributes. The latest iteration of TransUnion’s report also examined betting activity across online and land-based channels, including casinos, sportsbooks and lotteries. A full report of the findings is available in the new “TransUnion U.S. Gaming Report.”
From multi- to all-channel betting
While overall participation was slightly higher across land-based channels, online channels tended to have a higher percentage of top spending bettors. Land-based lottery (
Most bettors are engaged in betting activity across multiple channels, and nearly half (
In fact, the share who bet across all channels surged from
Distinguishing between high value and high risk bettors
High value bettors are clearly a key target for operators; however, a broader view of this group’s finances is important to monitor. For example, repayment on deferred Federal student loans began in October 2023. Among online high-value bettors,
While most of this group also earns high incomes, an additional
“Acquiring high-value bettors is critical for an operator’s success. However, knowing exactly how to engage this group requires robust third-party data,” said Raines. “There is a complex set of financial signals that require deep analysis to differentiate between resilient and distressed players.”
For more information about the research, read the “TransUnion U.S. Gaming Report.”
Research methodology
This online survey of 3,000 adults was conducted Sept. 27–Oct. 9, 2023 by TransUnion in partnership with third-party research provider, Dynata. Adults 18 years of age and older residing in the United States were surveyed using an online research panel method across a combination of desktop, mobile and tablet devices. Survey questions were administered in English. All states are represented in the survey responses. To ensure general population sample representativeness across United States resident demographics, the survey included quotas to balance responses to the census statistics on the dimensions of age, gender, household income, race and region. Generations are defined as follows: Gen Z, born 1995–2005; Millennials, born 1980–1994; Gen X, born 1965–1979; and Baby Boomers, born 1944–1964. These research results are unweighted and statistically significant at a
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Contact | Dave Blumberg |
TransUnion | |
david.blumberg@transunion.com | |
Telephone | 312-972-6646 |
