Gen Z is Wagering More Than Just Money on the Super Bowl

The Super Bowl is more than just a game: it's a reason to gather with friends, indulge in snacks, and, increasingly, place bets. But for Gen Z, betting on the Super Bowl is becoming less about the thrill of the game and more about the need to belong.

At Frich, we polled our community of over 1M Gen Zers about the Super Bowl, and the findings showed that gambling isn’t necessarily the problem: FOMO (fear of missing out) is. Our data revealed that 47% of Gen Z have placed a Super Bowl bet just to feel included in their social group. Fitting in is crucial for this demographic, regardless of their enthusiasm for football. The rise of betting apps and gambling in social settings has blurred the lines between casual fun and risky financial behaviour.

What's particularly striking is the contradiction in Gen Z's financial habits. Our community can generally be cautious about money - they’re using a budgeting app, so that’s the first sign that they’re taking finance seriously. But more broadly, Gen Z can be money-conscious, as they’re going out less than previous generations and more of them have side hustles. But this generation is surprisingly willing to take risks when it comes to betting. Our data shows that 40% of Gen Z have borrowed money to place a sports bet, a statistic that raises red flags about the long-term financial implications of this trend.

Cause for concern? Not quite yet - the average amount Gen Z is comfortable losing on Super Bowl bets is just $33. But it’s enough of a trend to start raising eyebrows about social gambling and its impact on young people.

This year's Super Bowl was a prime example of how pop culture and sports betting intersect. From betting on the game, to whether Taylor Swift and Travis Kelce would get engaged or whether Kendrick Lamar would sing “Not Like Us” at the halftime show (spoiler alert: he did), the sporting event dominated conversations. In the weeks before the final, opportunities for gambling and irregular spending can be impossible to avoid.

Many gambling apps are loath to talk about the dangers of betting, and choose to gamify the practice. In the same way that Buy Now, Pay Later platforms obscure the small print, gamified betting apps make it feel less like gambling and more like participating in a fun activity. But the financial risks remain real.

When it comes to addressing problematic betting behaviour, Gen Z is divided. Only 37% would try to bring it up if a friend was betting too much, while 29% admit they would judge but stay silent, and 35% believe it's not their place to intervene. This hesitation to address gambling issues points to a larger stigma around discussing financial struggles, even among a generation that highly values honesty and integrity.

The key, we at Frich believe, is transparency. Without encouraging conversations about taboo topics, it’s impossible to help people navigate life’s financial challenges and deal with the social pressure of widespread gambling. Balance is crucial. While betting on the Super Bowl can be fun, it's important to set clear limits and work within a particular budget to avoid letting your spending run away from you. After all, the real win is maintaining control over your money - and your choices - no matter how exciting the game gets.