A significant proportion of sports bettors in the U.S. see wagering as a form of investment, and one-third believes that President Donald Trump’s economic policies will mean they have more money to gamble.
Those were two of the conclusions from a new report by NerdWallet, which surveyed nearly 2,100 U.S. adults about their betting habits.
NerdWallet found that one in five Americans (20%) say they’ve bet on sports in the past 12 months, up 67% from last year’s 12%.
On average, gamblers spent $3,284 on sports wagering and other gambling during this time, although it’s worth noting that the median spending is much lower, at $750. Some 44% of sports bettors say they rarely make bets larger than $20.
One-third see betting as investment
Most sports bettors (nearly two-thirds, at 65%) see the activity as a way to make some extra cash. A notable conclusion was that a significant proportion are willing to define their betting activity as investing.
The survey found that and close to a third of sports bettors (31%) view gambling as an investment yet four in 10 (40%) report making net gains in the past 12 months.
The study also notes that around one in seven sports bettors (14%) say they’ve gone into debt to gamble, nearly a quarter (23%) often feel like they’re scraping by financially and more than one in five (21%) say their significant other doesn’t know how much they spend gambling.
“While successful gambling can be a form of extra income, it’s important to ensure you have your financial priorities in order before you take those risks,” wrote personal finance expert Elizabeth Ayoola in the report. “That means having a sufficient emergency fund in place, contributing enough to workplace retirement plans to capture an employee match and paying down high-interest debt.”
Some bettors expect more gambling money thanks to Trump
Another notable conclusion was that another cohort of sports bettors intend to gamble more this year, partly due to their political expectations.
NerdWallet found that nearly three in 10 (29%) plan to increase the amount they bet in 2025 compared to 2024.
More than one-third of sports bettors (34%) believe they’ll have more money to gamble this year as a result of Trump’s economic policies, although the report did not offer any insight into respondents’ rationale.
One-third of sports bettors (33%) say they budget gambling into their monthly expenses.
This survey was conducted online by The Harris Poll on behalf of NerdWallet from Dec. 3-5, 2024, among 2,092 U.S. adults aged 18 and older. Of those, 1,535 gambled in the past 12 months and 458 bet on sports in the past 12 months. The sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level.
