Football & horse racing continue as betting favorites

When it comes to betting on sports, football and horseracing continue to outperform other leagues and events worldwide. Though global tournaments like the Olympics rally punters across the globe, they don’t touch the consistent numbers seen at sportsbooks covering racetracks and football.

Though football topples horse racing in terms of global betting handle, the earliest evidence of gaming nods back to the first days at the racetracks. According to archaeological finds, Ancient Romans gambled on horseraces thousands of years ago, along with other events like gladiator fights.

Today, horseracing remains popular for seasoned bettors, as well as those who enjoy a trip to the tracks. However, horseracing is now competing with other favorites, including tennis and American football, for attention from oddsmakers. Tennis is popular for its global events, while American football sees massive participation from domestic fans.

Still, neither has come close to replacing horseracing at the top of the charts for the world’s most bet-on sports. Let’s take a closer look at the stats behind betting and the reasons punters can’t get enough.

Football figures

According to Statista, there are over 30,000 registered sportsbooks serving punters worldwide. Together, they serve a market size worth over $218 billion. According to the BBC, legal betting on football covered around $100 billion back in 2019. Though dated by a few years, that’s nearly half of the global betting market funneled directly into football.

But since the BBC put out their 2019 report, more than a dozen countries worldwide have launched regulated betting markets. This means there’s access to more accurate data from gaming commissions, along with thousands of football fans who can now wager legally on the sport.

Looking for expansion

Another reason football remains popular for so many bettors around the world is that the offerings are constantly expanding. As mentioned above, the FIFA World Cup sees millions of bettors and fans wager on their favorite team before and during the live action.

Similarly, regional competitions like South America’s Copa América or Europe’s Champions League are also incredibly popular. Even the failed European Super League, launched and then killed in 2021, would’ve seen another huge wave of interest from football fans that enjoy betting.

Beyond the EU and South America, where football is the most popular sport by a landslide, other domestic leagues are sparking interest. China has been able to coax star players from Europe with its China Super League and build interest, while the US and Canada’s joint Major League Soccer venture finally seems to have found traction. So long as these opportunities continue to onboard new football fans, no other sport will be able to compete with its betting handle.

Horseracing industry shifting gears

The future of horseracing isn’t quite as sunny as football. Though the sport remains incredibly popular and the sport’s betting handle continues to surpass $100,000 for big days at major events, the industry has a different nuance.

Rather than sheer numbers, like with football fans, horseracing tends to be a pricier affair—from owning and training horses to landing a ticket to watch a race from the infield. In some ways, the higher prices associated with horseracing benefit the industry, as bettors are likely to stake more money on a single wager.

However, aside from major events like Cheltenham Festival or the Kentucky Derby, punters aren’t likely to wager on races. Unlike fans of Aston Villa, for example, there’s no ‘team’ to follow—only horses, stables, trainers, and jockeys, which change often. The days of the racetrack are gone… or, at least, they’re in for an upgrade.

According to DeRace Whitepaper reports, the global industry was worth around $300 billion back in 2019—and is expected to grow. Of this $300 billion, $102 billion of that market share belongs to the US alone. This highlights the future of horseracing: a move toward a more commercialized experience.

This piggybacks on the legalization of sports betting in the US, active since 2018. Now that punters can wager on races remotely, there’s bound to be added interest in the racing industry—especially from those who used to have to drive to a racetrack in order to bet.

Football & horse racing continue as betting favorites

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