Responsible Gambling Conference sheds light on Gen Zers and Sports Betting Trends

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Mark Keast

Mark Keast has recently covered the sports betting industry in Canada for The Parleh, and is a long-time sportswriter and editor, most notably with the Toronto Sun.

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Last Updated: 2024 Apr 1

One of the more telling pieces of research that came out of last week’s Responsible Gambling Council Discovery Conference was a study on Gen Zers and their gambling habits.

Gen Zers, aged 12 to 27, are deeply stressed about the state of their finances, and a lot of them are looking at sports betting to supplement their income, according to the study. 

That of course raises a lot of the red flags. According to Alicia Petralia, Head of Media, Zulu Alpha Kilo Inc., who was part of a panel discussion on the topic during the two-day conference, 28% of Gen Z have gambled online over the past year, 1.7 million young adults making bets with real money.

Most of their online gambling spending is with slots and bingo, but 20% of the total Gen Z betting population is placing sports bets.

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They’re feeling the economic burden, so 71% of them said that based on the current cost of living they can’t save enough money, 54% of them are looking for that side hustle opportunity to make money on top of their regular income, with 41% of Gen Z sports bettors saying they know that betting on sports is not a good way to make money (15% of them have bet more money than they can afford to lose, with 32% of them saying they feel guilty about sports betting).

OPERATORS REACT TO PORTER SUSPENSION

Last week the big news was the suspension of Toronto Raptors’ Jontay Porter, being investigated by the NBA over prop betting gambling allegations.

Those in the industry sees this story as another example of the need for constant education on the potential pitfalls of sports betting. On March 21, DraftKings reported that prop bets on Porter were the No. 1 moneymaker from the previous night NBA betting, where the Raptors played the Sacramento Kings, as an example. Porter had removed himself from the game over physical issues, a move that guaranteed that his unders would hit.

“We have no comment on this story,” a spokesperson for DraftKings said. “In general, it is important to note that one of the many benefits of legal and regulated sports betting is that sports betting operators identify and report suspicious activity and the integrity of sport is therefore protected in a manner that does not exist in the illegal market.”

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NEW POLL SAYS MAJORITY OF CANADIANS WANT BAN ON SPORTS BETTING ADVERTISING

Despite the recent implementation of new advertising standards in Ontario, with industry operators no longer being allowed to call on celebrities to promote igaming, most Canadians are still not satisfied, according to a Maru Public Opinion survey.

The survey was nationwide, not just Ontario-focused. Seven in ten, or 68 per cent, want current team players and celebrities banned from sports betting ads, according to a Maru Public Opinion survey. Canadians are also looking for fewer ads during live sports games/events – two-thirds, or 66%, say commercials should not be allowed during those times. A majority – 59% – think a nationwide ban on sports betting ads needs to be implemented right away.

The survey was conducted in February among a random selection of 1,534 Canadian adults who are part of Maru Voice Canada, an online market research community.

One in six (17%) Canadians surveyed say they have wagered money on an online betting platform for a professional sporting event. Most of those people are young Canadians (33%). Sports betting is most prevalent in Manitoba/Saskatchewan (25%) and Ontario (20%), followed by Atlantic Canada (20%), British Columbia (14%), Quebec (9%), and Alberta (8%). 

SOFT2BET RAMPS UP FOR ONTARIO LAUNCH

Soft2Bet, the casino and sportsbook operator and platform provider, took another step towards a launch in Ontario with the news they’ve been granted a Certificate of Registration from the Alcohol and Gaming Commission of Ontario. Soon they will be launching its Tooniebet.com igaming brand.

“Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets,” said Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet. “We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region.”  

Said Martin Collins, Soft2Bet’s Chief Business Development Officer: “This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path.”    

Updated by

Mark Keast has recently covered the sports betting industry in Canada for The Parleh, and is a long-time sportswriter and editor, most notably with the Toronto Sun.

Read Full Bio

Mark Keast

Last Updated:
 
2024 Apr 1