Sports betting, which taps into the fans’ passion for sports and competitions, is one of the most popular forms of gambling. In sports betting, a punter bets on the outcome of a game or match, making a prediction, and if he’s correct , he gets a payout. In their attempt to attract new customers, sportsbooks in different countries now provide exciting promotions, including sign-up offers coming both as cash and as a free bet Ireland, UK, US or Canada offer.
But the core of betting is not in payouts. A wager on a match or race allows sports bettors to prove their knowledge of the sport or show their passion and support for their favourite players and teams. Also, betting on one’s favourite team is a source of pride and bragging rights. All these help sustain a growing segment that was worth $74.2 billion in 2021.
But this isn’t the only thing surprising about sports betting. As a growing industry, there are more extraordinary facts and information about sports betting. Let’s look at the five other exciting sports betting facts.
#1 Sports betting market share to exceed $129 billion in 2028
While $74.2 billion as a sports betting value is already a staggering number, one research firm expects the industry to hit $129.3 billion in 2028!
According to the report, technological advancement, including increasing mobile adoption, helps drive the popularity of betting. Digital platforms, with their dedicated mobile apps, enable bettors to place wagers anywhere, anytime.
FIFA World Cup- the biggest betting volume
The ‘beautiful game’ is the world’s most popular and widely followed sport. And it’s no longer surprising that its most significant event, the FIFA World Cup, regularly has the biggest betting volume.
Bets for the tournament held every four years averaged $30 billion in the last few editions. In the 2018 World Cup, the estimated betting volume was $155 billion, with an average wager volume of $2.4 billion per game, increasing to $8.2 billion in the finals between Croatia and France.
The UEFA Champions League comes next by betting volume, with the Super Bowl in close third, as the most popular in the United States.
A string of lucky wagers and $14 million
For a moment, let’s forget about the thrill and our passion for supporting our favourite teams. One lucky baseball bettor became $14 million richer by making a winning bet in the game between the LA Dodgers and the Houston Astros for the 2017 World Series. According to multiple stories, the punter let it ride for up to six games in the winning bet series. The bettor was from Eastern Europe, not more than 30 years old, and made the massive win on November 1, 2017, after game six.
Astros superfan snags biggest sports bet payout: $75 million
If you think earning $14 million for a series of wagers is cool, wait until you read the story about a huge Astros fan.
Jim McIngvale pocketed $75 million after the Houston Astros won the 2022 World Series this November defeating the Phillies. According to reports, Mr. McIngvale placed a $10 million bet to earn the sports betting industry’s biggest payout ever.
Initially, the Gallery Furniture chain owner placed a $3 million bet on the Astros at Caesars Sportsbook. In a statement, Caesars Digital COO Ken Fuchs shared their surprise and happiness with the development. After all, they signed a check for $75 million, their biggest ever!
A considerable part of Mack’s winnings will go to the customers of his furniture store, where he ran massive promotions, including refunds.
SuperBook Westgate Las Vegas™- The largest sportsbook in the world
Regarding size and betting opportunities, the SuperBook Westgate Las Vegas™ is considered to be the world’s largest sportsbook. This Las Vegas facility boasts over 30,000 sq feet of space, with more than 350 seats, and punters and sports fans can watch live streaming of games and events on its 220-foot-by-18-foot 4k video wall. In addition, the facility hosts multiple season contests, including the NBA and MLB seasons, Hoops Central, and Big Game Prop contests. And if you’re a football fan, there’s the Football Central that hosts the largest free football party.