{
  "id": 15007263,
  "title": "A Bet That Young People Are Willing to Make",
  "url": "https://urgent.news/2026/10/16/a-bet-that-young-people-are-willing-to-make",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-10-16T16:45:00.000Z",
  "source": {
    "name": "The Atlantic",
    "slug": "the-atlantic",
    "url": "https://www.theatlantic.com/newsletters/2026/10/betting-gambling-young-people-boom/689045/"
  },
  "original_language": "en",
  "account": "In recent years, a new newsletter called Over/Under has been exploring the world of prediction markets, gambling, and the evolving landscape of everyday risk. Anthropologist Natasha Schüll delved into the mindset of a specific type of Las Vegas gambler, finding that their obsession wasn't solely about the money. Instead, many of them experienced a trance-like state called \"the zone,\" where time, space, and social identity are suspended, and risk is replaced by a feeling of safety. This concept can be applied to today's internet culture, where people may engage in endless scrolling on dating apps or social media platforms without forming real-life relationships.\n\nOnline betting has seen explosive growth, particularly among young, mostly male users who find pleasure in the zone's experience. Modern sportsbooks and exchanges provide platforms for users to buy and sell contracts tied to real-world outcomes. Companies like Polymarket and Kalshi have become major players in this industry, with projected annual trading volumes reaching $10 trillion by 2035. Despite being marketed as distinct from traditional gambling, these firms are facing regulatory challenges and legal ambiguity in some states.\n\nHowever, conventional gambling is still thriving, with the legalization of mobile sports betting in the aftermath of a Supreme Court ruling in 2018. This development led to an increase in corporate ventures and partnerships between gambling and professional sports. Prediction markets, too, allow bets on a wide range of topics, including the number of social media posts made by individuals like Elon Musk. While most users lose money, the allure of high-risk, high-reward betting keeps them coming back.\n\nInterestingly, about a quarter of Gen Z investors view sports betting as a legitimate investment strategy, yet the average bet placed on these platforms is typically small. Research shows that people living near physical casinos are more likely to develop problem gambling habits, and addiction rates have risen in states that legalized sports betting. Nevertheless, most sports bettors do not exhibit problematic behavior.\n\nThe rise of mobile betting coincides with broader financial risks faced by young people. The number of households investing in stocks and bonds has surged in recent years, thanks to advancements in financial technology. Low-fee exchange-traded funds and automated brokerage apps make investing more accessible than ever. However, as young people have grown up in an environment of normalized risk, they may struggle to distinguish between healthy and unhealthy risks, potentially leading to uninformed choices like betting as a long-term investment strategy.",
  "summary": "Bettors keep losing. Why do they keep coming back?",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}