World Cup Betting Expected to Exceed £40 Billion Total, Drawing Addiction Concerns
The Fifa Men's World Cup is set to be the biggest betting event of all time, with more than $50 billion (£37.4 billion) in wagers placed globally. Forecasts from financial services firm Macquarie suggest punters will place bets worth approximately $500 million per match across the tournament.
This expected $50 billion total represents a substantial increase from the $35 billion wagered during the 2022 World Cup in Qatar. Macquarie analyst Chad Benyon attributes this surge primarily to the expansion of the tournament from 32 to 48 teams, resulting in over 100 matches across a six-week schedule, compared with 64 in 2022. Favourable time zones in host nations the US, Canada, and Mexico are also expected to boost global viewership, driving demand among punters in Europe, Latin America, and Africa.
Another key factor is the burgeoning sports betting market in the US, where around 65% of the population can now legally gamble on sports, up from 40% in 2022. This marks the first World Cup where a majority of the US population can place bets. However, Benyon cautioned that betting giants would need to convert these one-off punters into "repeat, multi-sport bettors" to sustain long-term benefits, noting that platforms with integrated casino offerings are best positioned to capitalise.
Gambling awareness groups have voiced serious concerns. Les Bernal, national director of Stop Predatory Gambling, warned that "hundreds of thousands of people across the world, especially young men, will suffer life-changing debt and financial distress" due to World Cup gambling. Bernal highlighted that 99 out of 100 sports bettors lose money in the long term, and that the commercial sports gambling model relies heavily on those who become addicted, an addiction he states leads to suicide at an unparalleled rate. He urged global politicians to act against addictive gambling forms and prevent consumers from being "fleeced".
UK-based gambling reform campaigner Matt Zarb-Cousin reinforced these warnings, stating that World Cup punters would be "cross-promoted more addictive casino content". A National Centre for Social Research report previously found that in the UK, 79% of gambling company winnings originated from the top 10% of spenders, defined as those wagering at least £5,639 annually.
The Macquarie report emerges as regulations around online prediction markets in the US face increased scrutiny. The Commodity Futures Trading Commission (CFTC) recently proposed stricter rules on bets concerning "terrorism, assassination, war, gaming, or conduct that is unlawful under federal or state law". These prediction markets have generated controversy, particularly for allowing users to bet on geopolitical events such as the Iran and Ukraine wars, prompting some operators, like Kalshi, to remove such markets. Rival Polymarket continues to host these markets but does not earn fees from them.
