Interesting Facts about Sports Betting

Fun facts about sports betting

Online sports betting has always been a delightful form of entertainment for many, but it never hurts to learn something new and exciting.

We thought we’d share with you our picks for some of the most interesting facts about sports betting that are bound to make your online gambling habits more fun and potentially more profitable. You might even find some of the best daily online sports betting tips by experts among these facts. Read on!

Sports Betting Amounts to 30-40% of the Global Gambling Market

It’s hard to say as many countries are not keen on calculating this precisely, but the best estimate is that at least a third of the global gambling revenues come from sports betting.

As Many as 80% of US Citizens Have Placed a Bet at Least Once

It might seem like a high number, but it’s still a number that accounts for all bets, even bets on fantasy games. Plus, many of these people have only once tried placing a bet on football or other professional sports and stopped then and there.

20% of People Worldwide Have Bet on Sports

Even though sports betting is big in some countries, where most people have gambled at least once, it’s not the same when you consider the whole world as there are many countries where this practice is either illegal or unpopular.

The Majority of Bettors Bet Emotionally

Series bettors who place bets on sites and apps based on logic might find this strange, but it’s still one of those unlikely fun facts that are true. Most bettors just bet on their favorite team to win or something similar.

Basketball Is the Most Popular Sport Among New Bettors in the US

This likely stems from basketball having more games than most other sports throughout the year, so first-time bettors usually land on those.

Sports Betting Is Legal in 28 States (for now)

Ever since the 2018 Supreme Court decision changed the game, numerous states in the US have made betting on sports a legal activity, be it online or offline, or both. But that’s not all; Maryland, Louisiana, Florida, and Nebraska have everything set in stone and are waiting to launch their sports betting markets soon.

Most other states are also moving towards legalization, while only Idaho and Wisconsin aren’t. Utah is the only state with a highly anti-gambling stance.

The UK Is the Leading Country in Sports Betting

Many might think that the US has this title, but thanks to the popularity of major football leagues and the World Cup, the UK is the undisputed sports betting leader. The country makes around $22.6 billion per year just from sports betting, while the US generates its billions from various forms of gambling, casino games the most.

Most Betting Happens in September

This is in line with the start of the football season, but another reason is that summer months are usually the slowest in terms of sports betting revenue, and most players come back to the practice right after the summer ends.

FAQ

What is the most profitable betting strategy?

Plenty of strategies can help you become better at placing bets, but there are still a few strategies that work better than others. However, the most profitable one has to be the proportional betting system. The strategy involves using a specific portion of your bankroll and increasing bets with the same percentage every time you win.

What is the best sport to bet on?

Many agree that a few leading sports are better than others for placing a bet: football, horse racing, cricket, tennis, boxing, MMA, rugby, American football, and basketball, or specifically the NBA.

What is the hardest sport to bet on?

It depends on your knowledge, but many would agree that the hardest sport to bet on is baseball. It’s mainly due to how unpredictable it can be.

What is the most predictable sport to bet on?

The NFL and NBA typically have the lowest chances of an upset occurring, so they are often considered the most predictable sports leagues.

Which is the easiest sport to bet on and win?

In most cases, it’s football, but others would say tennis as well. Naturally, if you’re an expert in a specific sport, it’s best to stick to it as that would be the easiest sport to bet on and win for you.

What is the biggest bet ever won?

It’s likely a 2017 World Series bet that won a lucky bettor $14 million. The unknown bettor placed a wager on the L.A. Dodgers and Houston Astros. No one knows who this person was, but he was likely less than 30 years of age and coming from an Eastern European country.

What is the max payout on SportsBet?

The maximum daily win on Sportsbet is $500,000. However, it can still be negotiated on a case-by-case basis.

Who is the richest gambler?

Some would say that Tony Bloom is the richest gambler in the world, as his net worth is $1.7 billion and constantly growing. However, he has a lot of different business ventures that yield him most of his fortunes. When it comes to just gambling, it’s Bill Benter, as his $1 billion fortune comes from the gambling industry, specifically horse racing and blackjack, his go-to gambling choices.

Who is the richest bookmaker?

It’s Denise Coates, the wealthiest owner of sports betting sites. She is the founder, CEO, and majority shareholder of Bet365, a famous name in the sports betting industry. In 2019, her wealth was estimated to be $12.2 billion. In 2020 alone, she earned a salary of $570 million and $65 million in dividends.

What is the biggest betting loss?

It’s hard to say, as this is not something many want to state publicly. However, the most significant loss is probably the one Jim McIngvale made in 2019 on the Houston Astros. Specifically, he made three bets totaling $5 million, where the largest one was $3.5 million. He lost it all when the Washington Nationals defeated the Astros in game 7.

What is the minimum bet at a sportsbook?

Most websites in the sports betting market place minimums somewhere between $0.50 and $2, but there are still some sportsbooks that let you bet on sports with as little as one cent for a single wager.