In 2022, the sports betting market was valued at USD 83.65 billion. With the digitalization of sports betting events, the market has grown multifold over the course of years. Online betting platforms are allowing fans to continue the tradition conveniently across the globe. Every sporting event brings in a ton of money for the online and offline sportsbooks and a huge amount of excitement for sports fans. Although we can see sports betting on almost every type of sports event, some tournaments have commanded huge popularity and crowds. Although many individuals like to go through the traditional betting route, the online betting platforms are also getting high revenues. Some of the leading sports events are:
1. FIFA World Cup
Every 4 years, the world sees the craziness that surrounds football. The FIFA World Cup is one of the most popular sporting events across the globe. Every person has heard about the popular football names like Messi and Ronaldo. This is the very reason that this tournament has gained the maximum number of bets. The global volume of bets is recorded at $30 Billion. This directly indicates the fame and reputation that the FIFA World Cup actually holds.
Statistics reveal that the individuals who typically don’t bet, tend to engage in soccer betting during this time. In 2018, about 3.57 billion people watched the world cup and about 2 Billion Euros were bet on every match. In 2022, these numbers grew multifold. About 5 billion people watched the FIFA World Cup and a total of $136 billion were bet on the tournament. In the final match of the series, the recorded betting amounts were totaled at $7.2 billion. The FIFA World Cup is definitely one of the most loved series for the world as a whole.
2. UEFA Champions League
As soon as the FIFA World Cup ends, the high of the football season is so much that fans cannot resist but turn to the UEFA Champions League to get some more taste of the craze and enthusiasm that is commanded by this sport. In this tournament, some of the best European teams compete against each other. Fans love to see the players in action. The league is organized each year with top division football teams. There are about 78 teams in total. So, keeping a track of all of them can be tough for a typical fan as well. The total betting volume is recorded at $13 Billion.
3. The Super Bowl
The next big event that has witnessed the highest number of bettors in the world is The Super Bowl. It is the American version of football or soccer as they call it. The Americans have a big fan following of the event and you can often see some excellent performances stemming out of the players. It is one of the biggest sporting events in the country and thus has recorded a viewership of 100 million each year.
In 2020, as per the statistics collected by the American Gaming Association, about $7 billion was bet on one game at a time. There is not one but several types of bets that one can place on the games. These factors make the events all the more interesting for the viewers. As the stakes are kept low on some aspects of the games, there are several casual bettors who participate in the event as well.
4. March Madness
After football, basketball has gained the highest amount of popularity in the world today. As the March Madness tournament starts, fans from different parts of the world like the US, UK etc. watch the game collectively and bet on some of the biggest basketball games of the NCAA Division 1. According to the statistics that were collected by the sports associations, during the 2018 tournament, $265 million was bet by the fans in the UK. The amount was much higher in the US during the 2019 tournament when $12 billion was bet by fans.
It was recorded that March Madness is a huge game and has even recorded a higher number of bets than The Super Bowl in the past. The average revenue that is collected by the sportsbooks and the associations is about $150 billion each year. No other tournament is able to surpass the basketball fever that is ignited by March Madness each year.
5. Kentucky Derby
we talk about sports betting, horse racing might be the first image that comes to mind. This happens because Horse Racing is definitely one of the oldest forms of sports betting that are known to fans and players both. It is very popular among the masses and the Kentucky Derby is one of the most bet-on events when it comes to sports betting in this category. In fact, betting on horse racing is seen very often in movies and television series as well. This is one of the main reasons why it has gained so much popularity over the years. In 2019, the Kentucky Derby recorded about $250 million bets. This automatically shows the high number of fans of the tournament.
6. NBA Finals
Although March Madness has commanded the highest number of fans and a fair market share over time, the NBA Finals have also gained much respect. They stand on the second position for the best basketball tournament of all time. The basketball associations have revealed that a minimum of $10 million is bet on every game during the NBA Finals. For every match, the minimum viewership is about 20 million people. The numbers are highly impressive which increases the enthusiasm and excitement of the players to a next level. In 2022, the finals of the NBA match saw the maximum number of viewers and was the third event that had the highest bets.
The Grand National, The World Series, Cricket World Cup and the Rugby World Cup are other events that have also witnessed high bets over the years. The list can go on but these are some events where sports betting has crossed all marks. These events have not only generated revenue for the sports betting platform but also increased the enthusiasm of the players.
