More than $50bn (£37.4bn) is expected to be wagered on this year's World Cup – making it the biggest betting event in history, according to a forecast by financial services firm Macquarie. The sum would dwarf the $35bn placed during the 2022 tournament in Qatar, driven primarily by the expansion from 32 to 48 teams. That means more than 100 matches over six weeks, compared with 64 in 2022, with punters predicted to bet around $500m per match.
Macquarie analyst Chad Benyon said favourable time zones in hosts the US, Canada and Mexico will also boost global viewership, fuelling demand among punters in Europe, Latin America and Africa. Another driver is the growing US sports betting market: around 65% of Americans can now gamble on sports, up from 40% in 2022, making this the first World Cup on which a majority of the US can place bets. However, Benyon warned the tournament could be a flash in the pan for betting giants if they fail to convert one-off punters into "repeat, multi-sport bettors". He added that those with casino platforms on their website stand to benefit most.
“$50bn expected in World Cup bets, more than double 2022, as expansion fuels record gambling.”
Gambling awareness groups have issued stark warnings. Les Bernal, national director of Stop Predatory Gambling, said: "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." He claimed "hundreds of thousands of people across the world, especially young men, will suffer life-changing debt and financial distress" and called for politicians globally to act to prevent consumers being "fleeced".
UK-based reform campaigner Matt Zarb-Cousin said punters betting on the World Cup will be "cross-promoted more addictive casino content". A National Centre for Social Research report found that in the UK, 79% of gambling company winnings came from the top 10% of spenders – those who wagered at least £5,639 a year.
Amid the surge, Grainne Hurst, chief executive of the Betting and Gaming Council (BGC), which represents betting companies, has written an open letter to major tech platforms urging them to crack down on illegal betting adverts. The BGC spokesperson previously said the UK has "some of the strongest gambling regulations and consumer protections in the world", including age checks. But Bernal's call for political action remains unanswered as the tournament approaches.