Sport Betting: A Billion Dollar Game
Sports betting is a common age-old practice that has existed ever since sports came into being. The easiest way to describe sport betting is when parties wager on the outcome of a game. Sports betting is the gamble played out to casinos.
How Does Sports Betting Work?
The sports betting process is relatively easy. There are always two teams or players involved in a game. When making a bet, gamblers pick a side on which they wish to fix their money. If the chosen team or player wins, the gamblers win back the money they set and that of their opponents. Similarly, if the wager is lost, the gamblers lose their money to the other side.
The Popularity of Sport Betting
The sports betting culture has achieved great popularity over the years.
There are many reasons for the sports gambling culture to gain such high popularity. Mainly betting and wagers hit off as a source of entertainment. Later the practice was recognized for the enormous monetary gains that came along the pass-time.
The thrill-seeking gamblers welcomed the finances that were attached to the activity. Many invested in it for the high chances of winning and improving their financial situations quickly.
The Online Gambling Universe
The practice has become more convenient than ever with the options of online gambling. Yes! With the internet being the haven of almost everything that happens on our planet, it is quite a hub for the gambling sector.
The internet has become a massive wagering market. Websites offer gamblers the convenience of placing bets on events, big or small, from the comfort of their homes. With the online platform, gambling has become a universal practice. More so, gamblers can wager from behind their screens on games or sports happening anywhere across the globe.
The Sport Gambling Figures
Let's talk about the real deal that sports gambling is all about; the money. The sports betting culture ran a business of $203 billion globally in the year 2020. This year's figures are expected to go up to a shocking $210 billion in worldwide gambling.
Out of this huge sum, the online gambling practices contributed a large chunk of $59 billion.
Highest Wagers On Sports
There are winners in the sports betting league too. Some sports are higher up on the gambling list than others. The magnitude of bets made on different sports depends on the popularity of these globally. Let's list a few sports in order of their wager rankings:
Football betting is the most popular sport across the globe. Hence it is no surprise that it is the most gambled sport as well. Despite being the unpopular culture in these few but large countries, the football betting turnover is a massive $150 billion approximately. The most highly betted on football events are the FIFA World Cup and the UEFA Champions League.
Tennis is a sport that provides gambling lovers with a variety of opportunities to bet. The combinations in tennis betting are endless, from choosing which player would win the set or betting on a game to wagering on an entire event. Wimbledon is one main tennis event that gamblers should wage their pockets upon.
- Horse Racing
Horse racing was the highest gambled on sport in the past. Soon that became history when football and tennis gained popularity. Horse racing betting didn't tread far behind and maintained the position of being the third most wagered sport in the world. The horse racing betting business is estimated at €100billion annually. Japan happens to be the horse race betting giant, followed by Australia and the UK.
Gambling Within Different Sports
Gambling is a practice that is extremely common across almost all sports. The betting culture of different sports varies geographically. Golf, NFL, Rugby, and Basketball are highly wagered sports all across the US and also many other countries.
The South Asian region takes credit for the highest investment in the Cricket betting business. The most highly betted cricket tournaments are the ICC Cricket World Cup and the Asia Cup.
F1 racing also stands as a highly gambled-on sport.
The Sports Betting Business
Sports betting is an actual industry now. Gamblers wage away billions of dollars on different sports globally. Apart from the sports events, the gambling bit has become an exciting aspect. Online gambling on games and sports through websites such as VIPArabClub has made gambling easier than ever and boosted the betting culture.