LendingTree Report Finds Average Consumer Will Spend $88 on Game Day Activities
According to LendingTree’s survey of more than 2,000 Americans, Super Bowl spending is expected to be down 19% from 2021, and more than a quarter of respondents says they won’t be tuning in at all. On the other hand, 3 in 10 do plan on placing a Super Bowl-related bet (including on the Puppy Bowl!), and many of those bettors will be using a credit card to do so.
Latest Fintech Insights: Allumia Closes Series A2 Financing To Advance Energy Efficiency-as-a-Service Technology Platform
Key findings
- Expected consumer spending on the Super Bowl drops by 19%, with fewer Americans planning to watch. Americans expect to spend $88 this year on game day activities, compared with $108 last year. At the same time, 28% say they won’t watch the big game, up from 21% last year.
- Northeasterners plan to be the biggest Super Bowl spenders — even though the four teams within the region all have been eliminated since the survey was conducted. Residents up north will spend $144 celebrating the Super Bowl, more than double the averages of the West and Midwest, and they’re more likely to bet on the game than those in any other region.
- Three out of 10 of Americans will make a Super Bowl-related bet. Those most likely to wager on the big game include Gen Zers (42%), millennials (41%) and men (36%).
- One in 3 Super Bowl gamblers will use a credit card to place at least one of their bets. This could be partly attributed to the fact that 52% of bettors will place their best via mobile apps or websites, some of which accept credit cards as a payment method.
- About 1 in 7 Americans say they won money betting on the Super Bowl last year, while nearly 1 in 10 lost money. This year, most bettors will wager less than $100.
“While many Americans had a little extra cash in the bank last year at this time thanks to reduced spending and some government stimulus, most people have likely burned through that cushion,” says Matt Schulz, LendingTree’s credit card expert. “That may prompt more people to take a little more low-key approach to watching the game.”
LendingTree commissioned Qualtrics to conduct an online survey of 2,097 consumers from Jan. 11-14, 2022. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.
Browse The Complete News About Fintech : Global Rewards Taps Galileo Financial Technologies To Scale B2B Payments
LendingTree is the nation’s leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. LendingTree proactively compares consumers’ credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree’s purpose is to help simplify financial decisions for life’s meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc.
Read More About Fintech News : Payments Industry Leaders Line Up For Horizon Conference
[To share your insights with us, please write to sghosh@martechseries.com]
