Sports betting's perfect storm
When the 2018 World Cup kicked off, three U.S. states (Nevada, New Jersey, Delaware) had legal sports betting markets. Four years later, that number has ballooned to 31 states, plus Washington, D.C.
Why it matters: With the World Cup coinciding with the NFL and college football for the first time, the next few weeks should generate huge betting volume across the country.
"Between the activity we forecast from our NFL customers, and the new activity from people betting on the World Cup, we anticipate November to be a strong month."— FanDuel CCO Mike Raffensperger tells Axios
By the numbers: 20.5 million American adults plan to bet $1.8 billion on the 2022 World Cup, per a new report from the American Gaming Association.
- Three in 10 (29%) of American adults who plan to watch the World Cup intend to wager on the tournament.
- If given $50 to bet, most Americans would put their money on the U.S. (24%) to win, followed by Brazil (19%).
What to watch … Match-fixing is on the rise in global soccer, so a task force that includes INTERPOL and the FBI will be monitoring the betting markets for every match in Qatar — a first for the World Cup.
- How a lobbying blitz made sports betting ubiquitous (NYT)
- Top World Cup betting promotions (Legal Sports Report)