Sports Betting Industry Overviews

How Much Money Is Involved In The Sports Betting Industry?

Sports Betting Industry Overviews

Due to the lack of regulations on sports betting by several nations across the globe, it is rather difficult to put an exact figure on the amount of revenue generated by the industry, both legally and illegally, on a global scale. Different sources cite different numbers, but it can indeed be said that the sector of sports betting is a multi-billion dollar one, and one of the fastest growing in the world.

Reportedly, the market is worth anywhere between 700 billion to $1 trillion US dollars. These estimates are built on the money circulated in both legal markets –primarily based in Europe, and illegal ones – mostly in Asian countries. Online bookmakers are incredibly popular and are worth more than $30 million. The betting markets in some sports, undeniably, are more lucrative than others, and below is a list of some of the biggest ones.

Football

Statistics show that football accounts for up to 65 -70 percent of all the money generated in the sports betting industry, which is worth billions of dollars. These approximations come from Sportsdar, a corporation that focuses on sports data analysis. From in play bets, to betting on transfers, the football market is a lucrative one, especially in Europe, due to the sheer amount of options that bookmakers offer.

E-Sports

Admittedly an unexpected addition to this list, the money involved in the betting market of e-sports is surprisingly high. Organized multiplayer video gaming competitions are incredibly popular, and stats show that the e-sports betting industry is estimated to be worth 23 billion by 2020.

American Football

After years of illegal, underhanded wagering, a recent federal ruling by the American Supreme Court essentially gave all the states the go-ahead to legalize sports betting at their own volition. American football and the NFL especially are ae heavily wagered on. During the last Superbowl, it was estimated that people bet up to 4 Billion on a match between the Philadelphia Eagles and The New England Patriots, and with most of this money wagered illegally, this move will increase the worth of the already multi-billion dollar betting industry.

 

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