World Cup Set To Become Biggest Betting Event In History

The FIFA Men’s World Cup is expected to become the biggest betting event ever, with more than $50 billion (£37.4 billion) projected to be wagered globally during the tournament.

According to a forecast by financial services firm Macquarie, punters are expected to place bets worth approximately $500 million on each match throughout the competition.

The projected $50 billion in wagers represents a significant increase from the estimated $35 billion staked during the 2022 World Cup in Qatar.

However, gambling awareness groups have raised concerns, warning that most bettors lose money over time and that World Cup betting could encourage users to explore more addictive forms of gambling.

Macquarie analyst Chad Benyon attributed the anticipated surge in betting activity largely to the expansion of the tournament from 32 to 48 teams.

The expanded format means more than 100 matches will be played across the six-week competition, compared to the 64 matches contested at the 2022 World Cup.

Benyon also noted that the favourable time zones of host nations—the United States, Canada, and Mexico—are expected to increase global viewership, particularly across Europe, Latin America, and Africa, driving greater betting participation.

Another factor contributing to the expected rise is the rapid growth of the sports betting industry in the United States. Around 65 percent of Americans now have access to legal sports betting, compared to 40 percent during the last World Cup.

As a result, this will be the first FIFA World Cup where a majority of the U.S. population can legally place sports bets.

Despite the expected windfall, Benyon cautioned that the tournament’s impact could be temporary for betting operators if they fail to convert occasional World Cup bettors into long-term, multi-sport customers. He added that platforms with integrated casino offerings are likely to benefit the most from the increased traffic.

Expressing concern over the social impact of increased gambling activity, National Director of Stop Predatory Gambling, Les Bernal, warned that many bettors could face severe financial consequences.

“Hundreds of thousands of people across the world, especially young men, will suffer life-changing debt and financial distress” because of gambling during World Cup matches, Bernal said.

He further stated: “99 out of 100 sports bettors lose money in the long-term… the business model for commercialised sport gambling operators is completely based upon the people who have been turned into addicted gamblers, an addiction that causes victims to die by suicide at a rate unlike any other.”

Bernal called on policymakers around the world to introduce stronger measures to curb addictive gambling practices and protect consumers during major sporting events.

Matt Zarb-Cousin, a UK-based gambling reform advocate, also raised concerns, arguing that World Cup bettors are likely to be exposed to more addictive gambling products.

“Cross-promoted more addictive casino content,” he said, is one of the key risks facing consumers who engage with sports betting platforms during the tournament.

A report by the National Centre for Social Research found that, in the United Kingdom, 79 percent of gambling company profits come from the top 10 percent of spenders – individuals who wager at least £5,639 annually.

Prediction Market Regulations Face Increased Scrutiny

Macquarie’s report comes as U.S. regulators move toward stricter oversight of online prediction markets.

On Wednesday, the Commodity Futures Trading Commission (CFTC) proposed new restrictions targeting markets involving “terrorism, assassination, war, gaming, or conduct that is unlawful under federal or state law.”

Prediction markets have drawn criticism in recent years because they allow users to place bets on geopolitical events, including conflicts such as the Iran and Ukraine wars.

Following public backlash, prediction market operator Kalshi has discontinued markets related to those conflicts.

Its competitor, Polymarket, still offers such markets but does not charge fees on them. The company has previously maintained that removing the markets would have no effect on the underlying events themselves.