Baby Boomers and Gen X Responsible for Increased Betting Activity in Q4 2024

Core Insights - Engagement among Millennials and high-value bettors has declined, while overall betting activity increased slightly in Q4 2024 compared to Q4 2023 [1][2] Group 1: Betting Activity Trends - Betting activity rose to 26% of consumers in Q4 2024, up from 24% in Q4 2023, driven by generational shifts [1] - Millennials' engagement in betting dropped by 5% year-over-year in Q4 2024, while Baby Boomers and Gen Xers saw increases of 7% and 4% respectively [2] - Gen Z's participation remained stable, indicating a shift in engagement dynamics among different age groups [2] Group 2: Financial Profiles of Bettors - High-value bettors, defined as those spending over $500 per month, experienced an 8% drop in engagement with land-based operators and a 9% drop with online operators [3] - In Q4 2024, 54% of high-value bettors had good or excellent credit, an increase from 50% in Q4 2023, while those with poor financial profiles decreased from 7% to 4% [4] - Bettors demonstrated a more resilient financial profile compared to non-bettors, with over half reporting income increases in the past three months [5] Group 3: Credit Scores and Financial Health - More than half of land-based and online bettors reported good or excellent credit scores, compared to 47% of non-bettors [7] - One-third of non-bettors fell into poorer credit quality ranges, while only 22% of online bettors and 20% of land-based bettors did [7] Group 4: Regulatory Environment - Increased regulatory scrutiny on the betting industry in 2024, with studies highlighting financial risks for certain players [8] - The formation of the Responsible Online Gaming Association (ROGA) aims to establish responsible gaming standards and support research [8][10] - Operators face challenges in engaging with players who exhibit high financial volatility, necessitating vigilance in responsible gaming assessments [9]