BofA: Sports Betting Returns Just 75 Cents on the Dollar

Bank of America has run the numbers, and the verdict lands hard: sports betting is a losing deal for nearly everyone who jumps in. The bank's Institute found that online betting customers get back, on average, less than 75 cents for every dollar they push into betting platforms. That recovery ratio has stayed below 1 for the whole run of the data they studied.

Taylor Bowey of the Bank of America Institute spelled it out in a research note. "Customers typically recover less than 75 cents for every dollar transferred to online betting platforms." The analysis zeroed in on people who treat sports betting as a potential income stream, not just a pastime. BofA didn't dismiss the idea of turning a profit entirely. But the odds are brutal: only about 3% to 5% of sports bettors actually win money on a consistent basis.

No generation has managed to break even. That's the bank's finding, plain and simple. Gen Z posts the highest recovery rate, roughly 82 cents on the dollar, yet it still comes up short of the line. "Despite seemingly recovering more than older generations, total inflows remained substantially below total outflows, suggesting that online betting is not a reliable or constant source of income," BofA said. Here's a wrinkle: 20% of respondents called sports betting a form of investment. The bank stressed it isn't a typical one. Gen Zers were twice as likely as their elders to see it that way.

Baby Boomers and Gen X aren't buying that framing. They stay skeptical, and BofA thinks the data backs them up. Anyone eyeing sports betting as a side hustle, let alone a retirement plan, should check that math again. It doesn't work out.