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Gen Z shifted money from investing to sports betting, Betterment survey

Reported · Written up by our desk · Fund Industry

More than half of Gen Z participants redirected money away from traditional investing and toward sports betting over the past year, according to survey results from wealth-management platform Betterment, as described by MarketWatch.

MarketWatch said the findings are drawing concern from financial advisers, reflecting a shift in how younger Americans allocate discretionary funds.

The article frames the survey as evidence that sports betting is absorbing capital that would otherwise go toward investing, based on Betterment’s reported results.

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