Half of Americans Will Bet on Super Bowl, Led by Millennials & Gen Z

Rhea-AI Summary

According to a LendingTree report, 51% of Americans plan to make Super Bowl-related bets this year, with 67% of millennials and 62% of Generation Z participating. Many bettors, particularly those impacted by the pandemic, are expected to wager at least $100. 34% of Americans anticipate spending less on the Super Bowl compared to last year, while 21% expect to spend more, averaging $108 each. The survey included 1,073 participants and was conducted from January 25-26, 2021.

Positive

• 51% of Americans intend to bet on the Super Bowl, indicating strong consumer engagement.
• Millennials and Gen Z, demographic groups crucial for market growth, are likely to spend significantly.

Negative

• 34% of Americans plan to spend less on the Super Bowl compared to last year, suggesting potential declines in overall consumer spending.

CHARLOTTE, N.C., Feb. 2, 2021 /PRNewswire/ -- More than half of Americans say they'll bet on some aspect of this month's Super Bowl, and some of those hardest hit by the pandemic are the most likely to do so. That's according to a new report from LendingTree that asked people about their spending surrounding the big game.

Key findings

• 51% of Americans will make some type of Super Bowl-related bet this year.
• 67% of millennials plan to make a bet, as does 62% of Generation Z, while just 26% of baby boomers will do so.
• 43% of bettors will wager at least $100 on the game. Millennials and Generation X are the most likely to bet big.
• People who were laid off, furloughed or had their hours or salary cut in the pandemic were more likely to make a Super Bowl bet than those whose jobs or salaries hadn't been impacted.
• When factoring in all types of spending, 34% of Americans said they'd spent less on the Super Bowl this year than last, while 21% said they'd spend more. The average amount they plan to spend is $108.

"Even as the nation wrestles with a once-in-a-century pandemic, historic levels of unemployment and widespread economic upheaval, few things unite Americans like our love of football," said LendingTree's Chief Credit Analyst, Matt Schulz. "This report makes it clear that our passion for the game leads us to spend big on the biggest game of them all, dropping cash on everything from bets to beverages and everything in between."

To view the full report, visit: https://www.lendingtree.com/credit-cards/super-bowl-bets-led-by-millennials-gen-z/ 

Methodology
LendingTree commissioned Qualtrics to conduct an online survey of 1,073 Americans, conducted Jan. 25-26, 2021. The survey was administered using a non-probability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.

About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree

MEDIA CONTACT:
Morgan Lanier
morgan@lendingtreenews.com

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SOURCE LendingTree.com

FAQ

What percentage of Americans plan to bet on the Super Bowl in 2021?

According to LendingTree, 51% of Americans plan to make some type of bet on the Super Bowl.

Which age groups are most likely to bet on the Super Bowl?

67% of millennials and 62% of Generation Z plan to make a bet, while only 26% of baby boomers intend to do so.

How much do people plan to spend on Super Bowl-related betting?

43% of bettors are expected to wager at least $100 on the Super Bowl.

What are the spending trends for the Super Bowl in 2021?

34% of Americans reported they would spend less on the Super Bowl than last year, while 21% said they would spend more.

What was the methodology of the LendingTree Super Bowl report?

The report was based on an online survey conducted with 1,073 Americans from January 25-26, 2021.