Haley Sacks Says American Dream Is Dead for 2 Generations as $78.72 Billion Betting Booms
Updated
Updated · Business Insider · Jun 15
Haley Sacks Says American Dream Is Dead for 2 Generations as $78.72 Billion Betting Booms
2 articles · Updated · Business Insider · Jun 15
Summary
Haley Sacks said millennials and Gen Z inherited a broken system, arguing the old formula of one long career, homeownership and retirement at 65 no longer works.
Student debt, inflation, AI pressure on entry-level jobs and wages lagging living costs have pushed younger Americans to seek side hustles, freedom and ownership outside traditional corporate paths.
That strain is also feeding riskier behavior: Sacks said some young people are turning to sports betting and prediction markets in hopes of getting rich quickly, despite the debt and addiction risks.
U.S. commercial gaming revenue hit a record $78.72 billion in 2025, underscoring how mainstream gambling has become even as Sacks warns it is entertainment, not wealth building.
Is the boom in online gambling a desperate response to a broken economy or a dangerous cultural trend?
As AI erases entry-level jobs, is the traditional career path becoming a trap for the young generation?
Betting on the Brink: The $78.72 Billion U.S. Gambling Explosion and Its Impact on Youth, Technology, and Society (2025)
Overview
Gambling in the United States is growing rapidly, driven by the rise of sports betting and iGaming. Easier access to gambling has led to a higher risk of harm and addiction, especially among young people. As sports betting became legal and total wagers soared, there was a sharp increase in online searches for help with gambling addiction. This trend is reflected in the growth of recovery groups, which are now seeing more young members. The report highlights how the expansion of gambling is closely linked to increased participation and addiction among youth, raising serious concerns for public health and society.