Football is the world’s most popular sport. It is estimated that there are between 3.5 to 5 billion people worldwide who watch the sport, with it being enjoyed in all corners of the globe.
Indeed, the appeal of leagues and competitions like the English Premier League, the FIFA World Cup, and the UEFA Champions League has contributed to its popularity. These tournaments often feature the best players in the sport, with fans enjoying the action that they are able to witness on a regular basis.
The quality on offer has also helped make the sport a game that is widely enjoyed in another way: sports betting. Fans can enhance their passion for the ‘beautiful game’ further by using sites in which they can place a bet, like the Betway platform that offers several markets. In fact, football has been driving the market, and there isn’t any sport that really comes close to matching it.
Why is football driving the global gambling market?
According to a report in 2024, football betting is forecast to generate approximately $53 billion in gross gaming revenue (GGR) from around $570 billion in turnover, making up over 56% of the regulated betting market’s gross win globally.
Several factors exist that have made the sport so lucrative for the industry, with many bookmakers capitalizing on the psychological aspects that fans have with the game and how they can enhance the entertainment offered through their passion.
For instance, major tournaments are known to act as catalysts for people to engage in betting activities. Events like the FIFA World Cup and UEFA European Championship consistently trigger spikes in online gambling activity. During these tournaments, online casinos and sportsbooks launch targeted promotions and themed offers, attracting both regular gamblers and new, casual bettors. This surge not only boosts immediate revenues but also expands the long-term customer base for gambling operators.
At the same time, the accessibility fans have and the number of markets bookmakers like Betway can offer make football the sport with the largest market size easily. Sheer Volume and Accessibility: Football’s simple rules, near-daily fixtures, and global fan base ensure a constant stream of betting opportunities. As noted, major leagues and tournaments attract billions of viewers and bettors, with events like the 2018 World Cup final alone generating €7.2 billion in wagers. With the appeal and grandeur of these tournaments being offered regularly, many continue to place bets on these events to enhance the entertainment they can receive from them.
Will football continue to fuel the growth of the global gambling market?
When looking at the market size and growth of the global sports betting market, football is expected to have a huge impact in the future. The industry was already said to be have been valued at $103.08 billion in 2024 and is projected to reach $224.12 billion by 2033. Of those figures, football is said to likely represent about 25.4% of all sports bets placed.
Interestingly, the European and Asian markets dominate football betting revenues, accounting for 85% of all football betting GGR in 2024, although with the upcoming 2025 FIFA Club World Cup and 2026 FIFA World Cup both scheduled to take place across North America, this market could experience its own growth where football (soccer) is not the most popular sport enjoyed on the continent.
