We don't think it is any secret that gambling is a huge market around the world. Sports gambling, i.e. betting on the outcome of different sports, is the most popular form of gambling and almost seems intrinsic to the nature of human beings. The fact that a bulk of this betting is still done illegally would irk the bigger online companies but also serve as a motivation about the growth potential that lies ahead. How much money is bet on football each year?
A truly staggering amount. For some facts and figures that will shake up your head, read on!
How much money is bet on football each year?
The BBC estimated that close to 70 Billion Dollars were bet on football in 2013. This included both the legal and the illegal market around the world. That amount has now been surpassed easily by just the legal betting market. In 2019, an estimated 100 Billion dollars were bet on football legally! That means the actual amount of money changing hands on the outcome of football matches could be three or four times this amount quite easily.
The shift towards online gambling is also quite apparent. Online gambling on websites such Bet365, Betway, and others constituted just 5% of the market a few years ago but this number has now risen to 25% globally. The reason for this is simple since the rates offered are transparent, there is no delay in settling the bets, and the bonuses that are given to attract new players are very tempting indeed.
We expect this shift towards online betting to continue in years to come and the tax revenue generated by this industry is going to be too big for countries to ignore and so legalization is also going to pick up pace.
How much money is bet on football each year? While it is difficult to get an exact figure, the number appears to be north of 100 Billion dollars right now.