November 28th, 2022: The World Cup fever is on, and the top football teams and thousands of fans are in Qatar to witness the biggest sporting event. It’s the first time that Qatar and the Arab world have hosted the World Cup, and the host made sure that it’s one of the grandest and most expensive editions ever. With hundreds of thousands of fans traveling to Qatar, organizers expect a huge boost in travel and tourism. Advertising is a big business, too, with many companies securing their ads to stream to hundreds of millions of viewers at home.
But there’s one more industry that’s expected to benefit from the World Cup fever: the sports betting and gambling industry. According to reports, Americans are expected to bet a record $1.8 billion on this year’s World Cup. Britain is not left behind when betting on the World Cup. According to a YouGov Direct study, nearly 50% of the bettors will bet on the FIFA World Cup.
World Cup betting is popular among Britain’s punters
The World Cup is the most popular sporting event in the world. And in the United Kingdom, it’s a sport and lifestyle that often boosts the economy. Traditionally, the Cup drives people to pubs and restaurants to watch and join viewing parties, especially with a good England showing.
In addition to pubs and restaurants, casinos and betting shops also get a boost during this time. And the recent study suggests that betting’s popularity among UK punters will continue. In the YouGov Direct study conducted on September 5, around 50% of sports bettors in Britain are ‘very likely’ or ‘somewhat likely’ to wager on the men’s FIFA World Cup.
The number is higher by eight percentage points compared to the same survey’s results last July, and analysts expect that the figure could still increase as UK betting companies continue to boost their advertising.
In the same survey, a quarter of the respondents say they are very likely or somewhat likely to open a sportsbook account with a new provider for World Cup betting. It’s crucial to note that the potential World Cup bettors who plan to open the accounts are likely big spenders. The survey adds that 13% of the respondents say they will wager over £100 on World Cup matches. According to data, the biggest motivators for bettors are free bets and other promotional offers like betting bonuses.
America’s huge bet on the World Cup
The United States is now a huge player in world football, at least as far as betting on the World Cup is concerned. According to a report by the Associated Press, American bettors will wager $1.8 billion on the World Cup this year. This year’s edition of the World Cup bodes well for the US betting industry since this is the first time that many states legally allow betting on sports. Around 20.5 million American bettors plan to wager on the World Cup, based on the estimates of the American Gaming Association. Most bettors plan to wager on the World Cup online, and some with a bookie or a physical betting facility.
Legal sports betting is currently available to over 132 million Americans. Only 10 million American bettors had access to legal sports wagering in the last World Cup. It was when New Jersey won a US court ruling clearing the way for 50 states to offer legal sports wagering. Today, dozens of US states now accept bets from residents.