As one of the leading commercial powers behind most competitions, the sports betting market is dedicated to supporting the popular teams by becoming a sponsor or an official betting partner of the League.
According to market specialists, the American sports betting industry is expected to hit the $155 billion mark by 2024, especially with theupcoming relaxation in the US gambling legislation
. Globally, the betting market is currently valued somewhere between $700 billion and $1 trillion. As you can tell, in some areas of the industry, the betting revenue exceeds all other sources of income of the sports’ governing bodies, including ticket sales.
The sports industry is big business, and the leading gaming operators are aware of the profit potential, so that’s why they’re massively sponsoring various teams, especially big shots. For instance, the Premier League can raise millions of pounds in sponsorship revenue within a few months before the event. In a nutshell, the League is gathering massive funds necessary for the development of the competitive scene.
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One of the greatest global sporting events for bettors is horse racing, which is an exciting betting opportunity for both amateur and pro punters. The Grand National is the most incredible horse tournament in Europe, held at Aintree in the UK, where thousands of
most successful sports bettors
gather to see if their wager is successful. Compared to other similar competitions, The Grand National attracts huge bets from everywhere around the world, going up to £600 million annually. Out of this amount, nearly £300 million came from the UK.
Among the greatest global sporting events for bettors is s
occer (commonly known as football), which is the king of sports worldwide, both in terms of audience and betting opportunities. The football betting market is estimated to be responsible for at least 70% of the global revenue.
The peak of soccer betting is the World Cup, which has brought roughly £41 billion profit for the bookmakers during the 2018 edition organized in Russia. In the UK, the amount wagered more than doubled compared to the previous tournament, going from £1bn to £2.5bn.
The rich sporting history of the United States has a lot of influence over the global betting markets, which extends to college and university sports. March Madness is an elimination basketball tournament where 64 college basketball teams fight for the grand prize.
March Madness is so viral because it caters to the needs of all sorts of
professional sports bettors
from around the world. Of course, the event is a battle royale competition, so the athletes are highly focused on winning since it can bring them long-term success, and elimination is a threat from the beginning. According to the Gaming Association, over $10 billion were wagered in the last year’s bracket, where Vilanova Wildcats defeated the Michigan Wolverine in the final of March Madness.
With over 100 million people watching the Super Bowl event annually, it’s no surprise that half of all the sports bets wagered in the UK are on the NFL. Just think about the millions of dollars spent by companies for advertising during the Super Bowl. According to theAmerican Gaming Association
, nearly 7 billion dollars were spent on bets during the 2020 game between the San Francisco 49ers and Kansas City Chiefs. The reason why even casual punters tend to bet on the Super Bowl is the unique bets like the halftime show, coin toss, or national bettors.
Believe it or not, the Cricket World Cup is one of the most appreciated sports competitions and o
ne of the
greatest global sporting events for bettors
. The cricket governing body stated that their audience peaked at a little over 1.6 billion people. The reason why so many
richest sports bettors
follow this event is the fact that it’s entirely predictable once you get the hang of it. Bookmakers love cricket because a simple Indiana Premier League final brought them bets of over £71 million last year. The operator told us that any match between Australia, England, and India (where cricket is highly popular) would bring them at least £50 million in bets on a single platform!
After reading this article, you already have a better overview of how huge the sports betting market is. But how can you take advantage of this multi-billion dollar business? Well, all you got to do is create a long-term strategy, find a reliable bookmaker, and start placing wagers on the most remarkable sporting events in the world.