A look at the whales of online sports betting

• Who are the big spenders?

  Older Millennials, aged 35-44 years old.

  Among those that bet $50+ per wager, almost half (48%) are older millennials.

• Compared to those that spend less than $50 per wager, higher spenders:

  Bet more often (58% do so at least once a week).

  And not just for money and fun either. Many enjoy the social aspects of online betting, like fun activities to do with their friends.

• The preferred sports to bet on for higher spenders include:

  Football as the undisputed number 1.

  However, this group is more likely to also bet on college sports (football and basketball) as well as boxing and horse racing.

• The top sportsbook apps for these high spenders include:

  DraftKings is most dominant with 4 in 10 in this group using them.

  FanDuel is a distant second with only 28% of those who spend $50+ using them.