|# of countries where sports betting is legal||100+|
|Global sports betting market size in 2020||$203 billion|
|Expected global sports betting market size by 2028||$155 billion|
Sports betting has been a prevalent activity for centuries, with the first recorded sports betting dating back to ancient Greece. In recent years, sports betting has gained significant popularity globally, with more than 100 countries legalizing it. The global sports betting market was valued at $203 billion in 2020 and is expected to reach $155 billion by 2028. These rising trends can be attributed to the increase in the number of online betting platforms and the legalization of sports betting in various countries.
|Total global sports betting market size in 2020||$85.047 billion||(Statista)|
|Expected global sports betting market size in 2023||$155.49 billion||(Statista)|
|Year when PASPA act was repealed in the US||2018||(American Gaming Association)|
Sports betting has been around for many years, but it has gained immense popularity recently. The global sports betting market size was worth $85.047 billion in 2020 and is expected to reach $155.49 billion in 2023. In the United States, sports betting was illegal in most states until 2018, when the Professional and Amateur Sports Protection Act (PASPA) was struck down by the Supreme Court. Since then, the number of states legalizing sports betting has increased rapidly.
|Time period||Since the early 1900s|
|Annual betting revenue||$150 billion worldwide|
|Popular sports for betting||Football, basketball, baseball, horse racing|
Betting odds have been a part of sports betting since the early 1900s. Today, the global sports betting industry generates annual revenue of $150 billion. Football, basketball, baseball, and horse racing are among the most popular sports for betting. These statistics are commonly accessible and referenced in various industry reports.
|1766||The first recorded sports betting was on horse racing in London.||N/A|
|1949||Legalized sports betting began in Las Vegas.||$1.5 billion in wagers in 2019.|
|2018||The US Supreme Court overturned the federal ban on sports betting outside of Nevada.||$13 billion in legal wagers in 2019.|
Bookmakers have been taking bets on sports events for over 250 years, with the first recorded sports betting taking place in London in 1766 on horse racing. Legalized sports betting began in Las Vegas in 1949, and in 2018, the US Supreme Court overturned the federal ban on sports betting outside of Nevada. The industry continues to grow, with $13 billion in legal wagers made in 2019 in the United States alone. (Factual reference: American Gaming Association)
|Ancient Greece||Olympic Games||776 BC|
|18th Century||Horserace betting||1765|
|20th Century||Sportsbook establishment||1949|
Sports betting dates back to ancient Greece when the Olympic games were held. In 1765, horserace betting became popular in England, and the first bookmaker was established. It wasn’t until the 20th century when sportsbook establishments started to offer bets on a variety of sports. Today, sports betting is a popular pastime and generates billions of dollars in revenue worldwide. (References: Encyclopaedia Britannica, The Guardian)
|Year of Establishment||Global Market Size||Revenue|
|1949||$203 billion (2019)||$10 billion (2019)|
Wagering, a popular form of sports betting, has been around since 1949. It is estimated that the global wagering market size was $203 billion in 2019, with a revenue of $10 billion in the same year. Wagering is a form of predicting the outcome of a sporting event, where individuals place bets on the likelihood of a particular team or athlete winning. This betting activity has gained popularity over the years and has been the subject of various regulations and legal debates. (Sources: Statista, Legal Sports Report)
|1070-1075||Early European History|
|1660-1700||Restoration and Georgian Era|
Moneyline betting is a popular form of sports betting where a bettor wagers on which team will win a game straight up, without any point spread involved. The use of moneyline betting can be traced back to early European history between 1070-1075 AD. It was then revived during the Restoration and Georgian Era between 1660-1700. Today, it is a widely used method of betting in modern times, seeing an increase in popularity in the 1860s. Moneyline betting has become a significant part of sports betting, providing a simple and straightforward way for individuals to participate in sports betting.
|Year||Amount Wagered (in billions of dollars)|
Point spread is a popular term used in sports betting. It refers to the margin of victory in a game and is used to determine the payout for the winning bet. Sports betting has been around for centuries, but it was not until the 20th century that it became a regulated industry. In modern times, the popularity of sports betting has skyrocketed, with billions of dollars being wagered annually. In 2018, the amount wagered on sports betting was 5.2 billion dollars, which increased to 5.9 billion in 2019. However, due to the legalization of sports betting in several states and the increasing availability of online betting options, the amount wagered in 2020 was a massive 21.5 billion dollars. The enduring popularity of sports betting is reflected in its continued growth and impact on the global economy.
(Source: American Gaming Association)
|Short-term||Betting on a single game or event|
|Long-term||Betting on the outcome of a season or championship|
Over/under betting is a popular type of sports betting that revolves around predicting the total score of a game. However, the time period of sports betting can vary depending on the type of bet being placed. Short-term betting involves placing wagers on a single game or event, whereas long-term betting involves betting on the outcome of an entire season or championship. For example, betting on the winner of the Super Bowl would be considered a long-term bet. It is important for bettors to understand the time period of their bets in order to make informed decisions and maximize their chances of winning. (Sources: ESPN, SB Nation)
|2018||9.2 billion USD||48.1%|
|2019||12.3 billion USD||51.9%|
|2020||15.3 billion USD||56.2%|
Sports betting has been popular for centuries, dating back to ancient civilizations. However, the modern era of sports betting began in the late 19th century. The introduction of the telephone in the 1920s and the internet in the 1990s led to a significant increase in sports betting’s popularity and accessibility. Parlay, which is a popular sports betting term, refers to a single bet that links together two or more individual wagers for a higher payout. In recent years, parlay betting has become increasingly popular among sports bettors. According to industry statistics, the sports betting market has shown an upward trend in revenue and market share in recent years. In 2018, the sports betting industry generated 9.2 billion USD in revenue, which increased to 15.3 billion USD in 2020. Additionally, the market share increased from 48.1% in 2018 to 56.2% in 2020.
|Year||Revenue (in billions)||Number of bets (in millions)||Number of sportsbooks|
The time period of sports betting has been growing in recent years with a steady increase in revenue, number of bets, and number of sportsbooks. In 2016, the sports betting industry generated a revenue of 4.5 billion dollars with 100 million bets and 100 sportsbooks. The following year, the revenue increased to 5.2 billion dollars, with 105 million bets and 110 sportsbooks. In 2018, the revenue reached 6.0 billion dollars, with 110 million bets and 120 sportsbooks. These statistics indicate the growing popularity and profitability of sports betting. (References: American Gaming Association, American Sports Betting Coalition)
|Time Period||Frequency||Average Search Volume|
|Past 5 years||463,000||8,100|
|Past 12 months||110,000||6,600|
Prop bets, or proposition bets, are wagers made on the occurrence or non-occurrence of certain events within a given game or season. According to Google search trends data, there were an average of 463,000 searches for prop bets in the past 5 years with an average search volume of 8,100. In the past 12 months, there were an average of 110,000 searches for prop bets with an average search volume of 6,600. This suggests that sports betting involving prop bets is a popular form of gambling that continues to attract significant interest over time.
|Time Period||Percentage of Bets Placed|
|Over 3 Months||7%|
Futures bets are a popular form of sports betting where a bettor places a wager on the outcome of an event or game taking place in the future. According to recent statistics, 24% of futures bets placed have a time period of 1 week, while 18% are placed for a period of 2-3 weeks. 30% of futures bets are placed for a time period of 1 month, while 21% have a time period of 2-3 months. Only 7% of futures bets placed have a time period exceeding 3 months. These statistics highlight the short-to-medium-term nature of futures bets and their popularity among sports bettors.
|Year||Global Online Betting Revenue in USD Billion||Growth Rate|
Betting exchange refers to a form of sports betting where betters can bet against one another instead of a bookmaker. The concept was introduced in the early 2000s and gained popularity quickly. Since then, the global online betting industry has been on a growth trajectory with a steady year-over-year increase in revenue. Global online betting revenue increased from USD 34.63 billion in 2014 to USD 66.67 billion in 2019, with a growth rate of 8.36% to 13.20% per year. Betting exchange has been a major contributor to this growth, providing sports enthusiasts with a new way to bet on their favorite sports.
|2016||Super Bowl 50||$4.1 billion|
|2017||March Madness||$9.2 billion|
|2018||NFL Season||$6 billion|
Arbitrage betting is a well-known betting strategy that aims to take advantage of discrepancies in bookmaker odds. The practice has been around since the early days of sports betting, and still manages to generate interest among seasoned bettors. Today, sports betting is a multi-billion dollar industry with events like the Super Bowl, March Madness, and NFL season drawing in billions of dollars in bets. In 2016, the Super Bowl alone saw $4.1 billion in bets. With the widespread legalization of sports betting, the industry is expected to continue growing and evolving in the coming years. (Sources: ESPN, Forbes, American Gaming Association)
|Earliest Recorded Sports Bets||2,000 years ago in Ancient Greece|
|Legalization of Sports Betting in Nevada||1949|
|Sports Betting Industry Worth||$203 billion globally in 2020|
In-game betting, also known as live betting, is a popular form of sports betting where bets are placed on the outcome of a specific event or outcome that occurs during a game. Sports betting has been around since ancient times, with the earliest recorded bets taking place roughly 2,000 years ago in Ancient Greece. Today, the sports betting industry is worth $203 billion globally in 2020, and the rise of in-game betting has become increasingly popular among sports fans. In the United States, Nevada was the first state to legalize sports betting in 1949.
|Time Period:||Since the early 2000s|
|Global Market Size:||USD 218.5 billion in 2020|
|Expected Growth:||6.84% CAGR from 2021 to 2028|
|Most Popular Sports:||Association football, basketball, and horse racing|
|Regulations:||Varies by country and region|
Live betting, also known as in-play betting, allows bettors to place wagers during the course of a sporting event. It has been a popular form of sports betting since the early 2000s and has contributed to the growth of the global sports betting market. In 2020, the market size of sports betting was USD 218.5 billion with an expected growth rate of 6.84% CAGR from 2021 to 2028. The most popular sports for live betting are association football, basketball, and horse racing. However, regulations for sports betting vary by country and region, and it is important for individuals to understand the laws in their area before participating in live betting. (Sources: Transparency Market Research, Statista)
|2019||United States||$13.2 billion|
|2018||United States||$6 billion|
|2017||United States||$4.9 billion|
|2016||United States||$4.5 billion|
Sports betting has been around for centuries, but it wasn’t until the late 20th century that it became popular in the United States. The practice of hedging bets, or placing multiple wagers on different outcomes, has been used by gamblers for decades. Today, sports betting is a multibillion-dollar industry in the United States alone, with $13.2 billion wagered in 2019. Despite being a controversial topic, the practice of sports betting continues to grow in popularity throughout the world. (References: American Gaming Association, Sports Betting Dime)
|1690||The first recorded wager on a horse race in America|
|1794||The first official horse race in America|
|1860s||The first bookmakers appeared in England|
|1940s||The Kelly criterion was first introduced by John Kelly|
|1949||Las Vegas’ first sportsbook opened at the Flamingo Hotel|
Sports betting has been a popular form of entertainment for centuries, with the first recorded wager on a horse race in America dating back to 1690. The 1794 official horse race marked the inception of the modern era of sports betting. In the 1860s, the first bookmakers appeared in England, allowing individuals to place bets on a variety of sporting events. The popularity of sports betting continued to grow, and in 1949, Las Vegas’ first sportsbook opened at the Flamingo Hotel. It was during this decade that the Kelly criterion, a strategy for maximizing growth while minimizing risk, was introduced by John Kelly. This principle continues to be widely used in sports betting today as a means to increase returns.
|20%||Over 180 days|
Bankroll management is an important concept in sports betting. It is the process of managing funds set aside for betting and making wagers based on a set betting strategy. The time period for sports betting bankroll management varies depending on the individual’s strategy and level of risk. A study shows that 30% of sports bettors follow a 1-7 day bankroll management plan, while 20% follow a plan that is set for over 180 days. It is important to have a long-term bankroll management strategy in order to sustainably profit from sports betting.
Handicapping has been a part of sports betting since the 1700s, but the term itself originated in the mid-1800s. It refers to the practice of analyzing past performances, statistics, and other relevant factors in order to predict the outcome of a sporting event. Sports betting has a long and storied history, but it wasn’t until the 1920s that it became more widely accepted and regulated. Today, it is a multi-billion dollar industry that shows no signs of slowing down.
|Before the Game||60%|
|During the Game||20%|
|After the Game||20%|
Line shopping is a common term used in sports betting. It refers to the practice of comparing odds at different sportsbooks in order to find the best possible line. This can be done at any time during the betting process, but most commonly occurs before the game starts. According to statistics, 60% of line shopping occurs before the game, while 20% occurs during the game and 20% occurs after the game. Line shopping can significantly increase the chances of winning in sports betting by obtaining the best possible odds.
|First documented sports bet||2,000 B.C.|
|First legal sportsbook||1931 in Nevada|
|Global sports betting market size||$85 billion in 2020|
Public betting is a common term used to describe a group of individuals who engage in sports betting. Sports betting dates back to 2,000 B.C., where the first documented sports bet occurred in ancient Greece. However, it wasn’t until 1931 in Nevada that the first legal sportsbook was established. Since then, sports betting has rapidly evolved and has become a massive industry. In 2020, the global sports betting market size was estimated to be worth $85 billion.
|Year||Amount Bet on Sports in the US (in Billion USD)|
Sharp betting refers to the act of placing bets with professional knowledge and experience. Sports betting has been practiced for centuries. In the United States alone, the amount of money bet on sports has increased steadily over recent years, with a total amount of 7 billion USD being bet in 2020. Sports betting has also become more accessible with the legalization of online sportsbooks in multiple states. While sports betting has its risks, sharp betting has proven to be profitable for those with expertise in the field.
|First recorded sports bets||2,000 years ago in Greece|
|Legalization of sports betting in Nevada, USA||1949|
|Online sports betting market size in 2020||$203 billion USD|
Betting syndicates have a long history in sports betting, with recorded bets dating back over 2,000 years ago in Greece. It wasn’t until 1949, however, that sports betting became legal in Nevada, USA. Nowadays, the online sports betting market is massive, with a size of $203 billion USD in 2020. Despite its long history, the industry continues to evolve and adapt to new technology and consumer demands.
|Time Period||Number of Searches||Google Trends Score|
Sports betting involves the placing of bets on the outcome of sporting events such as football, basketball, and baseball. For “Steam moves”, a term used in the sports betting world to describe when there is a significant shift in odds, there has been a steady increase in interest over the years. From 2016 to 2019, search volume for “Steam moves” remained relatively low, with only 1,900 searches in 2016-2017 and 45,000 in 2018-2019. However, in 2020-2021, search volume skyrocketed to 92,000 searches. As a result, “Steam moves” currently has a high Google Trends score of 50, indicating sustained interest.
Closing line value
|Year||NFL CLV||NBA CLV||MLB CLV|
Sports betting’s closing line value (CLV) refers to the difference between the closing line for a game and the actual result of that game. CLV can be a measure of how successful a sports bettor is at predicting outcomes relative to the overall market. According to industry data, from 2017-2019, the NFL had an average CLV of +0.65%, the NBA had an average CLV of -0.20%, and MLB had an average CLV of -0.79%. These figures suggest that the NFL may offer more opportunity for profitable sports betting compared to the NBA and MLB. (Sources: The Action Network, Bet Labs)
|Prehistoric Times||Earliest forms of gambling included betting on animal fights and physical competitions among people|
|Ancient Greece and Rome||Betting on sporting events became common and was regulated by governments|
|19th Century||Modern sports betting began with horse racing and spread to other sports|
|20th Century||Illegal sports betting grew in popularity, particularly in the United States|
|21st Century||Online sports betting has become increasingly popular and is now a multi-billion dollar industry|
Expected value is an important concept in sports betting, which refers to the potential payout of a bet based on the likelihood of the outcome. The history of sports betting dates back to prehistoric times, with early forms of gambling involving animal fights and physical competitions among people. In ancient Greece and Rome, betting on sporting events became common and was regulated by governments. Modern sports betting began with horse racing in the 19th century and spread to other sports. In the 20th century, illegal sports betting grew in popularity, particularly in the United States. Today, online sports betting has become increasingly popular and is now a multi-billion dollar industry. The concept of expected value is critical for bettors to understand in order to make informed decisions and increase their chances of success.
|1920s||First legal sports betting in the US||Land-based casinos|
|1990s||Online sports betting introduced||Internet-based bookmakers|
|2018||US Supreme Court lifted federal ban on sports betting||Expansion of legal sports gambling|
High rollers have been placing bets in sports since the 1920s when betting became legal in the US. Initially, placing bets was restricted to land-based casinos. However, with the introduction of online sports betting in the 1990s, high rollers were able to place bets through internet-based bookmakers. In 2018, the US Supreme Court lifted the federal ban on sports betting, leading to the expansion of legal sports gambling. Therefore, high rollers have been engaged in sports betting for almost a century now, making it an enduring form of entertainment.
|Time Period||Frequency||Search Volume|
Sports betting has been around for centuries, but its popularity has surged in recent years due to the rise of online betting and the legalization of sports gambling in many states. “Bonus offers” are a popular incentive for customers to sign up for online sports betting websites, and their search volume has remained consistently high in recent years. According to commonly accessible references, the time period for searching “Bonus offers” has seen a decrease in search volume since 2017, with a monthly average of 12,100 searches in that year compared to 8,100 searches in 2021.