A growing number of young adults in the United States are turning to online gambling and artificial intelligence (AI) tools to manage and alleviate their mounting debt, according to a recent survey. The findings suggest that for many members of Generation Z and millennials, these avenues have become more than leisure activities, serving instead as financial coping mechanisms amid economic pressures.
The survey, conducted among 2,000 U.S. adults aged 18 and older, highlights a significant reliance on various forms of gambling—including sports betting, prediction markets such as Polymarket and Kalshi, fantasy sports, day trading, and traditional casino gambling—as strategies to reduce personal debt. Among those who gamble regularly, 65% of Gen Z and 49% of millennials reported engaging in gambling with the explicit goal of eliminating some of their debt. In contrast, this approach was less common among older generations, with 39% of Generation X and 19% of baby boomers reporting similar motivations.
In addition to gambling, the survey revealed a marked increase in the use of AI for financial advice among younger adults. About 69% of millennials and 64% of Gen Z respondents said they have turned to AI tools for money management guidance during times of financial difficulty. This compares to 45% of Generation X and only 23% of baby boomers who reported similar use of AI in their financial decision-making.
Comfort in discussing financial challenges also appears to differ by generation and medium. The data showed that 65% of millennials and 53% of Gen Z individuals feel more at ease sharing their financial problems with computer programs rather than with family or friends, illustrating a shift in how younger adults seek support for personal money issues.
The survey also shed light on the depth of unsecured debt faced by younger cohorts. Among those carrying unsecured debt, 38% of millennials and 27% of Gen Z respondents reported owing $7,500 or more. This debt burden appears to be a source of considerable stress, with 60% of both age groups indicating they would rather disclose their weight than admit to their debt level.
The findings underscore a changing landscape in personal finance where technology and risk-involved activities like gambling are playing an increasingly prominent role in how younger generations attempt to navigate economic challenges. While these methods offer some a sense of control and nonjudgmental support, financial experts often caution about the risks of relying on gambling and unregulated AI advice as solutions for debt management.