Sports Betting continues to be a major gambling industry, with over 24,244 businesses stretching across the globe as of 2023. Given the vast size of the industry, sports fans use sports betting as a channel for supporting their favorite teams and, at the same time, making some good money.
However, this does not restrict the scope of sports betting. That is to say; you can strategically plan your bets and place a wager on the team you are expecting to win. Hence ensuring your chances of making a good sum from a game.
As it stands, sports betting is continuously becoming more popular, and the business is growing due to countries removing restrictions on betting to increase the popularity of specific sports.
In this article, you will learn about the most important sports betting facts and statistics.
Following is the list of sports betting facts that are a must-know for all fans:
Here’s a list of ten interesting sports betting facts that any enthusiast would find useful.
1. The Hardest Sport to Bet On
Baseball is considered to be one of the hardest sports to bet on. This is mainly because it is a rather hard-to-understand sport and is completely random. You can never know for sure which team will win; even if they have a streak of 100 wins, the underdogs prevail a lot more in baseball.
2. Sports Betting Pro Win Rates
You might be expecting a solid 80%+, but the truth is, even the pros have a win rate ranging between 53% and 55%. This is an interesting fact as it shows that regardless of your skills and calculations, sports betting can be unpredictable.
3. Most Bets are Uncalculated
It is a fact that doing your research on the teams and track record can significantly improve your win ratio. However, statistical data shows that only a small number of enthusiasts do their homework before placing bets.
4. United States Has the Track of Largest Bets
It is easy to consider the UK to be the hub for sports betting. However, the average size of bets placed in the US is far larger than any country to date. This shouldn’t be a surprise, as the US is among the richest countries in the world.
Statistically, bets in the US are 40% larger than average bets in the United Kingdom.
5. eSports Betting CS: GO
While you might be familiar with Dota, League of Legends, and other games, competing for the top place in eSports is not that easy. That being said, Counter-Strike is the most popular game in sports betting.
It is valued at 50% of all bets placed in the gaming industry, with Dota 2 being a runner-up.
6. Horse Racing is Not the Top Sport
Yes, when you think of bookies, you think of horse racing. Mainly because horse racing has remained popular throughout history, and the market is valued at well over 402.3 billion USD. Horse racing is the second on the list of sports with many bets placed on it.
7. The Total Global Population Involved in Sports Betting
Statistics show that around 20% of the global population has made a bet at least once in their lifetime on any sport. This does not imply that 20% bet regularly. It is a mere percentage reflecting the number of people sports betting has connected to.
8. Legalities in the US Regarding Sports Betting
Believe it or not, the US is quite strict when it comes to laws revolving around sports betting. However, over the past few decades, this has changed as almost every state has now started to review the legalization of sports betting. There are around 24 states that have legalized sports betting, with more to come as of 2020.
9. The Months with Highest Bet Rates
September and December are the two months with most bets placed throughout the year. This is around Christmas and New Year's time for December. Meanwhile, the most popular sports competitions in football take place during the month.
10. Future Betting is a Form of Investment
Most people avoid future bets in sports betting. If you do not know what it is, futures is a category of betting that allows you to place bets on the entire competition before it has even started.
The best part is that it is comparatively more rewarding, regardless of the odds.
You can trace the sports betting history to ancient Greeks. Based on historical evidence, they were the first to wager on many different kinds of sports:
1. Rise of Sports Betting With Greeks
As the Greeks continued to prosper and advance, they became renowned for their passion for entertainment. They were the first civilization to bring sports betting into reality. The three most common games they would place bets on were:
Finally, gladiatorial games soon emerged as the most popular sport and the greatest source of entertainment.
2. The Romans and Gladiators
Romans were the first to bring gladiator battles to the Greeks, and the sport quickly became popular, attracting thousands of spectators and betters. These brutal games normally ended with only one man left standing.
Moreover, the duelists and bettors were allowed to show off and even bring their own trained gladiators to battle.
3. Olympics in Sports Betting
The Olympics you know in the modern day was also brought about by the early civilizations to honor the Greek gods. At the time, the Olympics included several sports, such as wrestling, chariot races, and other sports involving athleticism and betting.
4. Sports Betting in the 18th Century
According to studies, it was during the 18th century the first official sports event took place. It was during the same century that formal sports betting events kicked off and became popular. The featured event of this time was horse racing, which is still popular to date.
5. Horse Racing in Sports Betting
The United Kingdom has always been enthusiastic about sports, as you may know from football events in the country. However, sports betting became the primary focus where fans would place wagers on their favorite horses and created a gambling culture that is still alive in the UK community.
Horse racing bookies also started in the 18th century in the UK and developed a strong presence, and it is still practiced to date.
6. Jockey’s Club in the UK
The first instance of rules and laws for horse racing established in the UK was recorded in 1750. This came to be after the Jockey’s Club was founded. The club was also known for implementing policies and regulating betting methods and safe practices.
7. American Stud Book in 1868
Another organization that followed shortly after was the American Stud Book. Founded in 1868, the objective of the organization was to streamline bookies and make the sports betting industry a lot more well-organized and professional.
8. UK’s Gambling Act of 2005
The UK Gambling Act of 2005 was brought about to address known issues that arose during the period. There were illegal activities that were hurting the sports betting industry and needed to be addressed immediately. This act restricted any form of betting on the streets to tackle unsupervised betting.
9. Sports Betting in the 19th Century
The 19th century was a revolutionary period for every industry, including the gambling one. By the end of the 18th century, bookies on boxing, cricket, and horse racing were nationwide popular, and the fan bases were enormous.
10. The Future of Sports Betting
It was during the 1900s towards the start of the 2000s when online bookies became more popular. Technology enabled people to place bets from the comfort of their homes.
11. US, UK, and Germany Influences
It was during the 19th century that the US, UK, and Germany exhibited significant advancements in Sports Betting and shaped them into the popular culture known today.
12. Baseball Becomes The Most Popular in the US
Horse racing was popular, but baseball eventually became the most popular betting sport in the US because of the favorable environment and endless betting options. Moreover, the sport's large fan base and overall appeal played a crucial role.
13. Match-Fixing Reminder of 1877
The Louisville Grays affair of 1877 is embedded into the history of Sports Betting as an unforgettable incident that serves as a reminder that professional sports are prone to match-fixing and various forms of corruption.
14. The Industry Shift of 1949
Due to concerns regarding match-fixing and corruption, Sports Betting in LV (Las Vegas) brought about a shift in the betting industry in 1949. Hence, it became a betting hub after the legalization of Nevada.
15. Crime Enters Sports Betting
During the 20th century, the Mafia and mobs started to get involved in the industry and controlled the outcomes to get big payouts. This completely tainted the industry.
16. Football Pools as UK’s Most Popular
During the 1900s and after, football pools gathered more popularity in the UK. In fact, it spread like wildfire and attracted millions of gamblers from across the globe. Hence laying the foundation for modern sports betting.
17. Hounds and Horses On the Rise
During the 20th century, greyhound racing kept up with horse racing when it came to bookies. Given the fast-paced nature of the sport, many devoted gamblers gathered around to place bets.
18. The 1960 Betting and Gambling Act
The 1960 Betting and Gambling Act in the UK laid the foundation for a legal framework tailored for Sports Betting. This was the first major step in making Sports Betting an acceptable source of entertainment and revenue.
19. The 1961 Interstate Wire Act
To stop organized crimes, the 1961 Interstate Wire Act restricted telecommunications from placing interstate wagers. This act significantly influenced interstate betting.
20. Arrival of 20th Century
Sports betting has a fascinating history as you know it. However, the development of laws for gambling and its history are closely related, each milestone in history determined the laws that made Sports Betting more acceptable and safe for the modern day.
This list is a wrap-up with twenty fun facts about sports betting that will pique your interest.
1. Sports Betting Continues to Gain Popularity
Even though some forms of gambling are frowned upon, Sports Betting is quite favored in and out of the community. Many factors make it such a widely accepted form of gambling. Mainly due to the vast media coverage.
2. Moneyline Bets in Sports Betting
There are numerous fun aspects of Sports Betting in general. However, Moneyline bets are a low-risk type of bets. This means that you have a far greater chance of winning, but your wins will be smaller.
3. Sports Betting is a Part of American Culture
The US has great involvement in the Sports Betting industry, mainly because of the revenue generated. It is popular to the extent that the betting lines are streamed on television in the headline section while the match is going on.
4. US States Earn the Right to Legalize
The Supreme Court made a decision early in 2018 and allowed the states to legalize sports betting if they deem it fit. This implied that the states would be held responsible and expected to implement policies and safe practices for gamblers. Since then, several states derived different approaches and even integrated betting markets with edukca.kr racetracks.
5. The Leading State in the US
New Jersey was among the first states to open the sports betting market after legalization, now stands at the top, and is a leading state in sports betting. New Jersey’s market has already surged and produced an incredible revenue for operators.
6. Massachusetts Has Not Legalized Sports Betting
It may come as a surprise, but Massachusetts has not legalized sports betting yet. As it stands, there are no indications that they will do so any time soon.
7. Mexico Sports Betting Without Legalization
If you have been to Mexico, you would know that they have been going along with in-person bookies since the year 2018. However, they have not yet passed legislation to regulate bookies. Moreover, the Department of Interior is well-informed of these activities but has chosen to not intervene.
8. Odds in Sports Betting
Odds play a crucial role in strategy when it comes to Sports Betting. You can study the odds and decide how big you want to go and how much risk you want to take. Even though this is normally ignored, paying attention to odds significantly boosts your win rate.
9. Odds Vary from Sport to Sport
Odds vary from sport to sport. The most commonly used odds are the American ones. There is a plus/minus sign on top. Remember, plus indicates underdogs and how much you win for betting on an underdog. On the other hand, the negative is for the top players, and the win amount is less.
10. Factors Deciding Odds
Odds are not mere numbers. There is a range of factors that determine the odds. For instance, previous track record and injured players for the upcoming match. Also, the odds keep changing throughout the match.
11. Futures in Sports Betting
Futures refers to placing bets on future events. However, they are insanely difficult to predict, but the payouts are just as big. Unlike other bets, these bets can only be found on the top sites or dedicated apps.
12. Betting Options
When it comes to Sports Betting, there are several options. For instance, point spreads, money lines, and parlays. These bettings are more than just win or loss; they are outcome-specific, and winning can increase if you win the specific bet.
13. Over and under Bets
One of the most popular types of betting is betting on totals. These are Over/Under bets that are average score-specific. For instance, you will bet on what will be the score for a fixed duration rather than win or lose.
14. Prop Bets
In addition to regular bets, Sports Betting involves prop bets. These are specifically event-based and change from operator to operator. There may be yes or no options and even multiple-choice questions.
15. Massachusetts Revenue
As more states in the US legalize Sports Betting, there has been a dramatic increase in tax revenue since 2021. This was the same year Massachusetts raised 693 million USD.
16. Excise Taxes in Betting
Excise taxes play a vital role in generating state revenue. However, these are not permitted to fund spending operations. On the contrary, the taxes are preferred to be aimed at chosen externalities and promotion of the user pays concept.
17. Winnings are Taxed
Yes, it is easy to think that these are wins and not earned money. However, all money earned through winnings is tax-deductible. The IRS considers this the same as your paycheck, and you need to declare it
18. PASPA’s Fall
PASPA was struck down in 2018 by the Supreme Court, and lawmakers started to introduce legislation throughout the country. The main purpose of this was to regulate Sports Betting in a supervised manner.
19. Ohio is The Next Biggest Market
Based on statistics, Ohio is expected to be the next biggest Sports Betting market. It has been approved and betting was launched in January 2023. However, the state currently emphasizes betting in person rather than electronic devices.
20. No Two laws Are the Same for All States
Since all states were given the right to request the legalization of Sports Betting, they also bore full responsibility for structuring laws around it. Therefore, laws will always differ for each state.
Here’s a list of sports betting statistics taken from statistical data throughout history.
Following is the list of Sports Betting statistics everyone should know:
1. American Adult Population With Bets
Statistics reveal that in less than a year, over 46% of the adult population has placed at least one wager.
2. American Population Bets Per Week
Gambling activity consensus shows that 31% of Americans place a wager once a week. The survey further revealed that around 10% place a bet daily.
3. Popular Betting Sports in the US
The top five popular sports people bet on in the US include; Basketball (53%), Football (51%), Rugby (46%), Baseball (22%), and Tennis (21%).
4. More Than 3 out of 5 People Account for Performance Stats
Sports surveys show that people often go for odds and trends, making it a 58% segment that places bets on factors. However, 63% also consider team and player performance stats.
5. 75% Bettors Place Online Wagers
As the digital era prevails, around 75% of bettors prefer placing their bets online or through a dedicated app.
6. Two Reasons People Prefer Online Gambling
The two reasons are convenience and easy deposits. Convenience accounts for 78% reason for people to place bets, while easy deposits also come in with 75%.
7. Most Popular Sports Betting App
Draft Kings holds 57% of the online betting market. It is the most used platform for placing bets on all kinds of sports.
8. Other Top Online Sports Betting Platforms
After Draft Kings as #1, the list continues with FOX Bet at 50%, FanDuel at 45%, BetMGM Sportsbook at 41%, PointsBet at 41%, BetRivers at 35%, WynnBet at 31%, Caesars Sportsbook at 29%, and finally Barstool Sportsbook at 23%.
9. FanDuel Bettor Groups
FanDuel is mainly preferred by people who earn around 50,000 USD or less annually. This is mainly due to the app catering to a target audience that has low income.
10. In-Person Betting Preference Stats
Surveys showed that 25% of gamblers prefer to make their wagers in person rather than online or through a middleman.
11. Reasons for In-Person Betting
There are two main reasons for this and they are “Social Experience” accounting as 58% the reason, and easier-to-control finances as 51% the reason.
12. Men Vs. Women for In-Person Betting
Men are twice as likely to place in-person bets compared to women because of the transactional experience.
13. Preference of Individuals with Household Income 150k USD+
One can argue that this is mainly influenced by transactional experience that is directly correlated with greater financial capacity. Bettors find it comfortable to bet bigger amounts in person.
14. 2022 Sports Betting Industry Profits
Statista shows that even with some states still not legalizing Sports Betting, in 2022, the industry raised 1.68 Billion USD in profits.
15. States with Active Legislation
If you are in the US, it is important to know the states where betting will be legal by the end of 2023. These include Hawaii, Minnesota, Missouri, Texas, South Carolina, and Vermont.
16. Expected Growth of Sports Betting Revenue
According to statistics, the Sports Betting revenue is expected to grow 10% annually after 2018. This is the same year the US Supreme Court legalized Sports Betting.
17. Sports Betting Mobile
Mobile Sports Betting has been a crucial driving factor for overall growth. The way betting used to take place has completely evolved. Of the 62% online betting, 70% are made via mobile.
18. AI Will Be a Game-changer
With the evolution of AI, automation of real-time data, in-moment security and monitoring, and cryptocurrency transactions, the Sports Betting industry is bound to undergo significant changes.
19. Global Revenue to Exceed 20 Billion USD
The eSports industry is gaining more popularity by the day, and surveys show that by 2027, the global revenue is expected to exceed far beyond 20 billion USD.
20. First 4 States to Legalize eSports Betting
The four states in the US that legalized eSports Betting are Nevada, Tennessee, New Jersey, and West Virginia.
21. The Forecast of Ten Fold
A report by Market Decipher reveals that in the year 2022, the revenue generated was 83 Billion USD and is expected to reach 288 Billion USD by the end of 2032.
22. Sports Betting Virtual Reality
With advancements in VR and AR, VR22 Sports Betting was launched in 2022 and laid the foundation for the future of virtual reality betting.
23. Millennials Love Football
According to driver research, millennials love to place football bets that total up to 65% of total wagers placed.
24. Gen X and Baby Boomers Go for Rugby
Baby Boomers, at 64%, and Gen X, at 55%, prefer betting on Rugby in comparison to other sports. Given the gruesome nature of the sports, it's easy to understand why.
25. Gen Z is for Basketball
Similar to others, Gen Z has its preferred sport that they like to bet on, in this case, Basketball.
Now, let’s crunch some numbers and learn about important statistics that can prove useful for any bettor, pro, or rookie.
1. The Market Difference Between 2016 and 2021
According to Statista, the global gambling market increased in value by 21.5 Billion USD in 2021. In 2016, it was only 40 Billion USD, and by 2021, it spiked to 61.5 Billion USD.
2. Expected Market in 2028
The global gambling market is expected to exceed 133.9 Billion USD by 2028. This calculation was done by IMARC Group and showed an 8.5% growth from 2023 to 2028.
3. Asia-Pacific Market Flourishes
According to a Global Data survey, the Asia-Pacific Region Sports Betting market will reach 21 Billion USD in value by 2021. Mainly in Singapore and South Korea.
4. eSports Betting to Grow by 2030’s End
Grand View Research conducted a study that revealed that the eSports Betting industry will grow at an exponential rate of 14% CAGR by the end of 2030.
5. The eSports Hub
Over 40% of eSports events are conducted in Shanghai, making it possibly the largest stakeholder in the esports betting industry.
6. Sports Betting Revenue to Rise by 86%
Statista shows that the Sports Betting market is picking up the pace after the pandemic. By the year 2021, the industry generated 61.5 Billion USD. Experts predict this to rise by 114.4 Billion by 2028.
7. First State to Legalize Sports Betting in America
The first US state to legalize Sports Betting was Las Vegas. Since then, the industry has continued to flourish as more states began to follow in succession.
8. Sports with Most Bets Placed in the US
According to Rotowire, the NFL is the sport that’s ranked first in terms of most bets placed in the year 2022.
9. The Leading Online Sports Betting Platform of 2023 in UK
As of 2023, PaddyPower.com has become the leading Sports Betting website in the UK, to be more specific. It is shortly followed by the runner-up olbg.com and telegraph.com.
10. Game with the Highest Average Bet in 2020
In 2020, League of Legends broke the charts with over 32.34 Euros. While CS: Go and DOTA 2 stood at 20 EUR, approximately the lowest average bet.
11. The Leading Gambling Company of 2021 Worldwide
According to Statista, Bet365 was ranked as the #1 leading gambling company of 2021 and triggered billions of dollars in revenue.
12. 45 Million Americans Wager During Super Bowl in 2022
Yahoo Finance's live coverage revealed that during the Super Bowl 2022, over 45 million US citizens could bet legally on sports.
13. American States with Betting Legal in 2023
An article on Forbes highlighted that 33 US states successfully Legalized Sports Betting in 2023 and broke the forecasts of expected revenue to be generated.
14. US Citizens Are Not Fans of eSports
eSports may be considered the largest online betting source, but surveys reveal that around 80% of Americans are not fans of eSports.
15. 66% of Bet Placers are Men
According to Escharts, Gaming Association, and Fantasy Sports, 66% of the betting community comprises male members. Only the remaining 34% are women.
16. Gen Z and eSports Betting
Approximately 78% of eSports bet placers are Gen Z, consisting of age groups ranging from 18 to 25 years old. This was revealed in a survey by eSports Insider.
17. Mexican Bettors in 2022
Yogonet revealed that more than one million active bettors are from Mexico, as per a survey conducted in 2022.
18. Bettors in Japan Racing Association
Data from Statista shows that the JRA constitutes 196.8 million Sports Bettors from the year 2013 to 2022. Regardless of Horse Racing being the limited option for the Japanese for almost a decade.
19. State of Global Sports Betting Market in 2024
As Sports Betting continues to gain popularity, it is estimated that by 2024, the market will grow to be valued at 155.49 Billion USD.
20. Percentage of Football in the Market
As aforementioned, Horse Racing is not quite as famous as people might misunderstand. Football alone accounts for 50% of the betting market.
21. Sports Betting Share in Online Gambling Revenue
In the year 2021, Sports Betting accounted for a staggering 61.6% of revenue of online gambling. This was mainly through online betting platforms and dedicated apps.
22. Region with Largest Market Share
Rather shockingly, the Asia Pacific Region is the largest shareholder in the Sports Betting market as of 2020, with 47% shares in the market.
23. Australia’s Gambling Related Problems
In the year 202, approximately 46% of the Australian population involved in betting experienced at least one gambling-related issue. These statistics are only a reminder of potential risks that are linked with the activity and require constant policing and regulations.
24. Mobile Sports Betting Share in 2020
As the world squeezes further into smartphones, activities through mobile become more popular. Therefore, the global market share of mobile sports betting in 2020 reached 48.9%.
25. Market Shares of eSports Globally
Approximately 3.5% of Global Sports Betting revenue is generated from eSports. Mainly the games; Valorant, CS: GO, Dota 2, Tekken, and League of Legends.
This list is a compilation of globally known sports betting facts and statistics. All data is accurate, with the exclusion of data that is dependent upon time. For instance, the global market value is subject to change every year.
It is important to note that sports betting is not a mere activity but has a long history deeply rooted in early Greek and Roman civilizations. The sports betting you know in the modern day is an evolved form of a practice done by the ancient civilizations.
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