The Most Popular Sports Betting Markets in The World in 2023
Online gambling, or iGaming, has expanded to offer more sportsbooks and casinos than ever before, making it an alluring form of entertainment on the web. Online gamblers from all over the world were drawn to the chance to win prizes while relaxing in their own homes, and iGaming companies saw increases in both sportsbooks and online casino users.
Thanks to new legislation that has been granted in numerous jurisdictions, sports betting and online sportsbooks are swiftly becoming a popular alternative to traditional entertainment options all around the world.
Online betting already made up a sizable portion of wagers in 2019, but the disparity widened in 2020 and 2021, with online betting-friendly jurisdictions faring far better.
That trend is likely to continue in 2023 and beyond, as the convenience of online betting remains unrivaled by traditional sportsbooks. Online bettors have also been major drivers of the online sports betting industry, with the development of mobile-friendly versions of the best sportsbooks, as well as instant-payout platforms and reloadable accounts, making it a popular option.
In 2023, online sportsbooks like Bet365, one of the leading sportsbooks in the market (check Bet365 pros and cons for a thorough review of the services provided, its odds and special wagers) are continuing to grow, offering unique and exciting bonuses, different betting markets and novelty wagers that further their appeal.
So let’s examine the most prominent sports betting markets globally, which account for the rapid growth of this significant market inside the online entertainment sector.
Football is the most popular and widely played sport in the world, so it is unsurprising that it tops this list. Horse racing used to be at the top of the list, but in-play betting and early cash-outs have transformed football betting into a massive market. Every year, it is estimated that over £1 billion is wagered on football in the United Kingdom. It is impossible to obtain accurate figures for the global market due to many unregulated markets, but with viewership figures in the hundreds of millions for major events, the true figure of betting in football must be enormous.
Football wagers tend to be quite simple. Simply give the final score and indicate whether you think there will be a win or a tie. For more seasoned gamblers, there are other alternatives. They can wager on the quantity of throw-ins and corner kicks as well as the time of the game during which they will occur. They might even wager on who will receive and how many yellow or red cards will be awarded.
Tennis betting is simple for both novice and seasoned gamblers because there are no draws in the game, unlike the sport listed above. There are many easy and clear wagers available in tennis. Predicting the outcome of a game or competition, however, is the most significant one.
You must research each player’s ranking and past results in competitions if you want to win a tennis wager. Some athletes perform better on grass courts (used in championships like Wimbledon), while others win more games on clay, according to various criteria (a certain Spanish player has demonstrated time and time again). You can read the pundits’ analysis before placing your bet on any game to have a better idea of who is most likely to win.
The NFL accounts for more than half of all sports bets placed in the United States, making American football one of the most widely favored sports in the world for betting. The sport is the second most popular in the world, only behind soccer.
With billions of dollars wagered by NFL fans from all around the world, the yearly Super Bowl is the apex of sports betting in the United States. Over $7 billion is thought to have been gambled on Super Bowl LVI last year, according to the American Gaming Association.
In terms of popularity, basketball is one of the sports that is expanding the quickest. Despite the fact that the NBA is the most well-known league in the sport, collegiate leagues in the United States and the European basketball league also attract a lot of wagering from around the world.
The majority of basketball wagers involve spread betting. You must determine whether a team will defeat another team by a specific margin. Predicting the margin by which a favored team will defeat an underdog when the top team is playing an away game is one of the most thrilling wagers.
Jessica is engaged in brand exposure at LandscapeInsight. She brings forth content that helps both the reader and brands based on research and trends.