The Billion Dollar Industry Selling the American Dream
- 2 days ago
- 5 min read
Why Consumers Are Literally Betting On Their Future
You've noticed it. Maybe during a football game, a podcast mid-roll, or even scrolling social media at 11pm. Ads for DraftKings, FanDuel, PrizePicks, Kalshi… they're everywhere.
The main companies behind this gambling push are all worth BILLIONS. And recent estimates indicate the sports betting and prediction market industry spends billions annually on advertising as well.
The ads are engineered with bold graphics, and promises of life-changing wins. Influencers flashing cash. A countdown timer. A promo code. A "risk-free" first bet.
These platforms are competing for your customers' share of wallet, but more importantly, they want to be the way consumers think about money, risk, and getting ahead.
There's a promises of life-changing wins. Influencers flashing cash. A countdown timer. A promo code. A "risk-free" first bet.
The Background:
This didn't happen overnight. It started with a Supreme Court decision in 2018. Seven years later, it's a billion-dollar ad machine. And it just found a new target mindset.
Our data shows that betting and prediction market platforms have become mainstream financial behaviors, especially among younger Gen Z men.
We can break these platforms down into three categories:
Sportsbooks. These are the traditional platforms when you think of gambling. You can bet on which team is going to win a basketball game, or which golfer is going to win the Masters. Examples include: Draftkings Sportsbook, Fanduel Sportsbook, BetMGM
Daily fantasy sports. These are offerings revolving around betting on player "props," like how many points a player will score or how many touchdowns a quarterback will throw. Examples include: PrizePicks, Underdog Fantasy, Sleeper
Prediction markets. These platforms allow you to trade on real-world future events, such as who will be the next president. With origins dating back to the Iowa Electronic Markets (founded in 1988), they have become increasingly popular over the past few years, and aim to provide a financially backed source of truth that is more effective than polls. Examples: Polymarket, Kalshi
While sportsbooks are limited to certain states with access to them, daily fantasy sports platforms and prediction markets have much wider legal coverage of the country. Both daily fantasy and prediction markets are, in ways, workarounds to traditional anti-gambling laws. And as of late, the line is becoming even more blurred with both allowing many of the same wagers that traditional sportsbooks do.
The Usage Data:
Across the general population, 17% of consumers used a sportsbook in the past three months. But zoom in on Gen Z males, and that number climbs to 27% (+10pts).
13% of consumers have used daily fantasy platforms in the past 3 months, compared to 24% of Gen Z males (+11pts).
12% of consumers have used prediction markets in the past 3 months, compared to 22% of Gen Z males (+10pts).
We see the same trends persist across past month usage as well, with the percentages for each coming in proportionally less. What stands out when comparing the past month users and past three months users is the signal of churn and re-engagement. While these aren't all daily bettors, they keep coming back.
Here's one mindblowing insight: the conversion rate from awareness to trial among Gen Z males is off the charts, especially since the advertising intensity ramped up in 2022. Of those aware: 6 in 10 have used at least one platform, while only 4 in 10 have heard of them, but never tried!
WOW!
The Gen Z Twist
I wanted to dive into the economic factors behind what could be contributing to this, and see what the psychology underneath reveals.
Gen Z males stand out on one sentiment in particular:
52% of Gen Z Males feel like everyone else is moving ahead faster than they are — 11 points above the overall population.
In the age of Instagram wealth and crypto overnight millionaires, that gap feels enormous. Gen Z males feel pressure to try to find a way to keep up, and these platforms know it.
These platforms aren't selling a service. They're selling the feeling that this time, you might be lucky enough to catch up or get ahead.
Reverse Engineering The Gambler
Here's where things crystallize. When we look specifically at people across all generations and genders who have used at least one of these platforms in the past month, their financial attitudes vary HEAVILY from the average consumer.
First, let's look at the demographics of this group. While Gen Z males certainly over-index, the active gambler is spread across generations and genders:
Gen Z - 16%
Millennials - 53%
Gen X - 19%
Boomers - 11%
Males - 67%
Females - 33%
But their attitudes are really what is worth talking about...
Financial Concerns:
63% - fear they won't have enough money to live comfortably (vs. 55% total)
61% - living paycheck to paycheck (vs. 48% total)
58% - feel everyone else is moving ahead faster than they are (vs. 41% total)
50% - there isn't much they can do to improve their financial future (vs. 39% total)
The Optimism:
69% - believe the American dream is still achievable (vs. 50% total)
The profile of an active platform user isn't someone flush with disposable income looking for entertainment. It's someone who's financially stressed, feels stuck, and yet — critically — still believes the dream is out there.
That aspiration, combined with financial anxiety, is the exact psychological state these platforms are targeting. They're selling aspirations of a better future.
So What? Now What?
A meaningful slice of your customers still believe in the American Dream, yet are financially squeezed and feeling left behind.
And these platforms know it. That's their whole business model.
So the question for you isn't whether your customers are betting and trading. Some of them are. The question is what you're offering them instead.
Your loyalty program. Your brand promise. Your value exchange.
Does it feel like a shortcut? Or does it feel like another slow ladder?
Because if it's the latter, you're competing with a countdown timer and a promo code. And that industry has spent billions perfecting the dopamine loop.
The platforms are a symptom. The opportunity and the win: How can you help build a better future for your customers?
Data source: Lisa W. Miller, Journey Back to Joy Research
N=2,000 consumers, 18+ years old, data collected throughout February and March 2026.
AUTHOR BIO
Lisa W. Miller is a consumer strategist and reinvention expert who helps organizations understand people, anticipate change, and act on what matters most. A Certified Speaking Professional and Certified Reinvention Practitioner, she blends deep consumer insight with practical tools that leaders can use right away.
With three decades of experience and nearly one million consumer conversations, Lisa brings both a corporate and consulting perspectiv
e. She built her early career in brand management and insights at Frito-Lay/PepsiCo and later led innovation for Brinker International. Today, she advises brands across restaurants, retail, fintech, hospitality, and healthcare through custom research and strategic guidance.
She also leads The Business of Joy, a platform that includes national sentiment tracking, thought leadership, and a weekly podcast on leadership, culture, and growth.
Lisa is a three-time EFFIE Award winner, a recipient of the David Ogilvy Research Award, and the author of The Business of Joy. Her research and commentary have been featured in The Wall Street Journal, NBC Nightly News, FOX, and more than 300 media interviews. Her core belief guides all her work: when joy is greater than fear, growth begins.
🎤 🎥 Watch the latest episode of my podcast, The Business of Joy: The CEO Who Cut Prices, Raised Wages, and 12x'd Profit Anyway | Brandon Coleman
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