In recent years, sports betting has gained an enormous amount of popularity and hype in the world following the repeal of the PASPA in 2018. This has made online betting a really profitable industry with many options for bettors to select from. 

Globally, the sports wagering market represents 30-40% of the gambling market, with over $500 billion in bets placed annually. It has became a source of revenue for many gamblers. In the USA it is expected that the betting market will have a revenue of $7 billion by 2025, which is a significant increase from the year 2019, according to Morgan Stanley. 

To differentiate themselves and appeal to new users, sportsbooks must set themselves apart. One approach is to provide an extensive range of betting options across different sports markets, given the enthusiastic sports fanbase. 

Nowadays, sports betting has been expanded to cover almost all kinds of sports, including emerging ones like eSports that are growing rapidly in terms of player participation, and viewership. However, a few traditional favorites still dominates the online betting market, and although the numbers may differ by country, the following are typically the most popular sports for betting:

Betting On American Football-NFL

Undeniably, football holds the top spot as the most favored sport in the United States and is also a major attraction at legitimate and supervised sportsbooks. The professional football league generates the highest handle overall, and every scheduled game garners significant interest and betting activity. 

In selected states, customers can even place bets on both the National Football League and college football games, with a wide array of wagering options available from money line sports betting to betting live.

Soccer

Soccer takes the crown as the most widely played and popular sport worldwide, and therefore naturally features prominently on this list. While horse racing once held the top spot, early cash-outs and in-play betting have transformed soccer betting into a behemoth. 

In Italy alone, it’s believed that more than £1 billion is wagered on soccer each year. If you want to try your luck here are some Italian sports betting sites to check.The true global figure for soccer is difficult to estimate due to unregulated markets, but given the massive viewership figures for major events, the actual amount of soccer betting worldwide must be colossal.

Horse Racing

For many years, this sport has been closely associated with gambling, and throughout most of its history, it was the go-to sport for betting enthusiasts. Even today, it remains a global powerhouse where you can bet on 24/7 worldwide. Horse racing events typically offer the largest prize money in sports, which draws in a huge audience and attracts significant betting activity.

According to estimates, horse racing betting annually generates over €100 billion, with surprising statistics showing that Japan boasts the largest market, which is then followed by the UK and Australia.

Tennis

Tennis is surprisingly the forth popular sport for global betting, with a high frequency of betting due to its many possible combinations for in-play betting. The tournament draws make for easy low-odds bets, particularly in the early rounds when top players like Federer and Nadal often face outsiders. Additionally, the rise of live-betting has contributed significantly to the growth of tennis betting.

Golf

In recent years, golf has emerged as a popular sport for betting enthusiasts. The presence of 78 players on the course at any time, combined with numerous betting formats, makes it an attractive option for punters. 

Major events typically span over 4 days, while regular ones span over 3, creating a plethora of opportunities and outcomes for bettors. This has contributed to the sport’s popularity and rise in the world of sports betting.

Rugby

Rugby has gained popularity in the world of sports betting, with many new nations emerging in the game. With 30 countries playing rugby, 20 qualified for the 2019 World Cup, which was one of the largest events in rugby history. 

Top 14 in France, and the Champions Cup for top European teams, are the major events that attract large volumes of betting. Due to the numerous variables in rugby, in-play betting has become very popular in the sport.

Boxing / MMA

For years, boxing has been a sport closely associated with betting, although its popularity has waned somewhat in comparison to football and golf. Nevertheless, it remains a significant player in the world of sports betting. MMA, on the other hand, is a recent addition to the sports scene, but its growing numbers of the UFC suggest that it is gaining traction among fans and bettors alike.

eSports

The world of sports betting has seen a significant rise in the popularity of eSports, which has emerged as the fastest-growing sports market in terms of betting volume. With virtual sports gaining immense popularity in 2020, bookmakers have been forced to adapt faster to keep up with the growing demand. 

Although online racing has been around for a while, some other esports have gained more attention recently, and all major bookmakers now offer different eSports betting options. This trend has led to a surge in betting volume, resulting in a substantial boost in revenue across the  betting industry.

Conclusion

Although it is recommended to bet on your passion, it is not advisable to confine yourself to a particular type of betting. Engaging in sports betting that you are passionate about can help maintain your interest, making it easier for you to strategize and research in order to place intelligent bets.

It is perfectly fine to try out sports betting in areas that interest you, but start with smaller amounts initially to see if it suits you. Do not place bets randomly, and be open to expanding your betting experience to other sports that appeal to you.

It is important to note that there are no limitations on the number of sports you can bet on.If you have any questions or comments, please let us know in the comment section below!