A symptom of World Cup fever? Rampant betting

 A symptom of World Cup fever? Rampant betting

Nick Iluzada

On Fridays, the Brew’s Dave Lozo looks at a sports business story that says a lot more than just the final score of a game. This year’s FIFA World Cup is likely to become the biggest betting event in history. There could be more than $50 billion in wagers placed globally on tournament matches, according to the financial services firm Macquarie. The 2022 World Cup in Qatar saw $35 billion in action, so where’s the potential extra $15 billion coming from? The tournament expanded from 32 to 48 teams—creating 40 more beautiful games. The betting pool in the US has also expanded—65% of the population can legally bet on sports today, compared with 40% four years ago, per the American Gaming Association. Polymarket saw $1.8 billion in action on the question of which country will win the World Cup, making it the platform’s second-largest market ever, behind the 2024 US presidential election. Be careful: Don’t get swept up in the excitement of all these 1–0 barnburners. The advocacy group Stop Predatory Gambling warned that “99 out of 100” bettors lose long term, and thousands could take on life-changing debt.