The Sports betting industry has grown to be a lucrative worldwide business with astronomical revenue generation. This is such that the inflow of income in the sports betting industry globally is estimated to be between $700 billion and $1 trillion a year, an amount that has and will consistently increase over the years!
Undoubtedly, the influx of people into sports betting and their wagering on diverse sports events in different parts is the needed explanation for this whopping income. Hence, since there are various sports betting events and interests of the people, punters bet on other games as it suits them. However, certain sports betting events have been recorded to have the most significant bet volumes and gained the highest patronage among punters and sports lovers alike from both land-based and online casinos. Ultimately, online casinos have increased sports betting with their easy accessibility and user-friendliness, as in TonyBet.
Here are the top five sporting events with the highest bet volume in the world:
FIFA World cup
Football is known to be a universal sport and has earned its spot as the most popular sports event in the world. So, it’s perfectly understandable that it attracts a betting volume of over $30 billion globally and is said to constitute about 70% of the annual sports betting revenue.
The FIFA world cup, which occurs every four years and is hosted in different countries with teams across world borders, attracts the interests of millions of people all over the world who wager on their best team to win. As a result, the 2022 FIFA world cup provided over $35 billion for sports bookers globally, significantly increasing from the previous one.
UEFA Champions League
Besides the FIFA world cup, the UEFA champions league is a high-volume sports betting event and one of the best events you can bet on. The champions league records over $ 13 billion from bets globally.
Kentucky Derby
Kentucky Derby is one of the world’s most popular horse-racing events, usually occurring on the first Saturday of May. People all over the world bet to pick a winner. As such, this event has become the most significant source of revenue generation from horse-racing events in the world. In 2019, the Kentucky Derby event produced $250 million in bets worldwide, featuring an interestingly controversial ending for punters on longshot country house’s win following the disqualification of Maximum Security.
Therefore, if you are a horse racing fan, this is an event you will find pleasure in betting on, no matter what country you are in.
The World Series
Another of the most significant sporting events in the world is the World Series, a baseball event that pulls approximately $50 million every year. Although baseball may not be among the top popular sporting events, it pulls a high volume of bets yearly and has been watched globally. In addition, the World Series hosted in 2018 and 2019 have further increased people’s interest in the game and similarly attracted bettors.
Boxing
While boxing has lost its juice in the sporting world, it remains one of the most bet sports in casinos today. Moreover, it has significantly contributed to the revenue generation of sports betting worldwide.