UNLV Study Found Low Rates of Prediction Market Use Among Nevada College Students
Credit: Wikimedia Commons
Younger gamblers prefer electronic products to traditional ones but were not quick to embrace prediction markets when they debuted, if Nevada college students are any indication.
These are among the more interesting findings of a study conducted by University of Nevada Las Vegas researchers at the International Gaming Institute.
Prediction markets have featured continuously in U.S. gambling headlines over the past year, creating the perception that they’re a craze sweeping the nation. However, the media coverage may be driven more by the speed of expansion than the current level of adoption.
Of the 4,615 Nevada college students surveyed, 72% had gambled in the past year, with electronic devices like slots and video poker topping the list of most popular products. Traditional Las Vegas offerings like table games and sports betting were in the middle. Many had bought at least one lottery ticket, but comparatively few reported it as their most common way to gamble.
Yet, despite all the hype, only 2% had tried prediction markets, and virtually none reported them as their primary form of gambling.
It’s worth noting that the survey took place roughly one year ago, in late April and early May 2025. Sports contracts were in their infancy at that time, and the total volume of trading on those markets has increased tenfold. It would be interesting to see a repeat of the survey now.
Two Forms of Electronic Gambling Topped the List
The study asked responders to identify both their most used form of gambling in the past year and all forms of gambling in which they’ve engaged during that time. Both of the top responses among “most often” were forms of electronic gambling.
Here’s a full breakdown of the split among 10 options.
- Electronic gambling machines (slots, keno, video poker, etc.): 23%
- In-app video game purchases with a chance to win: 19%
- Lottery/scratch tickets: 14%
- Table games (poker, blackjack, roulette, craps, etc.): 12%
- Day trading (stocks, crypto, etc.): 11%
- Sports betting: 8%
- Charitable bingo, raffles: 6%
- Fantasy sports: 4%
- Animal races: 3%
- Prediction markets: 0%
Conventional wisdom holds that slots are the province of old folks, while younger gamblers are more attracted to social options like blackjack.
Anecdotally, that feels right. Almost all of the gamblers I know are poker players. Even disregarding their poker play and focusing only on their forays into the “pits,” the ones I know certainly gravitate more to Ultimate Texas Hold’em, Pai Gow, and craps than to slots and video poker. They like to have some drinks and play these more social games with fellow gamblers.
Yet, the data says most of these student gamblers would rather mash the slot buttons by themselves.
The data validates a highly publicized move by Golden Gate in Las Vegas to remove all live dealer tables last fall. Owner Derek Stevens cited a successful test run at sister property Circa’s second floor as evidence that switching to electronic tables wouldn’t hurt business.
“What we’re seeing is that more and more younger people want to play these (electronic games),” he said.
Survey respondents concur. It is worth noting, however, that more than half of respondents (60%) didn’t consider in-app loot box-like purchases to be gambling. That’s been a point of contention in some high-profile lawsuits.
Survey Sample Skewed Toward Women
Respondents had an average age of 26, with 59% falling into the 18-24 bucket.
One demographic item jumped out as possibly skewing the sample. Almost two-thirds of the respondents (62%) were women. Thirty-four percent were men, while 4% identified as “another gender.” That flips the demographic of a more representative sample of gamblers, since previous studies have shown that men are about twice as likely as women to gamble.
So, the behavior breakdown in the study may not accurately reflect a more representative sample of student gamblers.
Nonetheless, it’s still interesting to examine some of the trends and think about what they might mean for the up-and-coming generation of customers in an industry that still drives a large amount of Nevada’s economy.
Is Prediction Market Craze Overblown or Not?
Since prediction markets are still so new, there isn’t a ton of data on them yet. They seem to be all the rage, having dominated not only gambling media but also appeared prominently in mainstream coverage in recent months.
However, this study suggests their immediate impact was been minimal among young gamblers, at least those located in states with plentiful legal gaming.
Only 2% of students had tried prediction markets by May 2025, but if the number of people who’ve done so has risen in tandem with the betting volume, that may be 20% or more today. However, that isn’t necessarily the case, as the increased volume may come in part from increases in individual activity, and may come primarily from states without access to conventional sports betting.
There are other data points supporting the idea that prediction markets don’t have quite the level of adoption that you’d think. Among respondents to a much more recent NBC poll, 30% had never even heard of prediction markets, and only 3% reported actively using them. Another poll found that only 21% said they were “at least somewhat familiar” with prediction markets.
Meanwhile, prediction market operators aren’t content merely being in the news. Both Kalshi and Polymarket have been busy pushing the idea of themselves as “News 2.0.”
They’re certainly benefitting from the perception that everyone is glued to the live odds on world events. Operator valuations have surged in the past year.
However, the data that comes in about prediction markets continues to say there’s a long way to go before they reach the level of popularity enjoyed by other verticals.
Image credit: Wikimedia Commons (license)
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
