Sports betting is a popular form of gambling in many countries around the world, with millions of people placing bets on their favorite teams and events every year. The amount of money that is bet on sports each year is difficult to determine precisely, as it varies from country to country and from year to year. However, the global sports betting market is estimated to be worth billions of dollars annually.
According to a report by Statista, the global sports betting market was valued at around 203 billion U.S. dollars in 2020. This figure is expected to increase in the coming years, driven by the rising popularity of sports betting in countries like the United States and the growth of online betting platforms. In the United States alone, the sports betting market was estimated to be worth over 10 billion U.S. dollars in 2020, with revenues expected to reach 30 billion U.S. dollars by 2030.
Sports betting is a multi-billion dollar industry that continues to grow each year. The increasing availability of online betting platforms and the legalization of sports betting in more countries have contributed to the growth of the market. While the exact amount of money that is bet on sports each year may be difficult to pinpoint, it is clear that sports betting is a popular pastime for millions of people worldwide, with billions of dollars wagered on sports events every year.