We were taken aback by the worldwide events over the last two years, as COVID-19 quickly spread around the globe, causing quarantines and lockdowns all over. After spending so much time inside, most of us were looking for new pastimes and entertainment alternatives other than Netflix and streaming platforms, podcasts, and video games.
As a result, with a higher offer of sportsbooks and online casinos than ever before, online gambling, or iGaming, has become an enticing option. The opportunity to win rewards from the comfort of their own homes attracted online players all over the world, with iGaming businesses recording increases in both sportsbooks and online casinos users.
Sports betting and online sportsbooks are quickly rising as an entertainment alternative in the United States, thanks to new legislation being approved in various states around the country. As of 2022, over twenty states have regulated the sports betting market, and all but five are actively operating, with the majority also approving online sportsbooks.
As the outbreak progressed, land-based sports betting facilities had to close their doors, leaving American punters with just online sportsbooks to choose from. Online betting already accounted for a significant share of wagers in 2019, but with lockdowns, new health standards, and social distancing measures in place, the discrepancy was accentuated in 2020 and 2021, with states that provided online betting faring considerably better.
States such as Nevada, New Jersey, and Illinois have recorded large earnings in the last year, and according to Wall Street banking titans, JP Morgan, the US sports betting industry might reach $9.2 billion by 2025. So let’s take a look at the most popular sports betting markets in the United States, which are responsible for the quick surge in this important market within the online entertainment industry.
According to recent sports betting news and reports, football is the most popular sport for betting in the United States, with wagers on the NFL accounting for over half of all sports bets placed in the country. Worldwide, the game is the second most popular, only behind soccer.
The annual Super Bowl is the pinnacle of sports betting in the United States, with billions of dollars wagered by NFL fans from across the world. According to the American Gaming Association, it’s estimated that more than $7 billion was wagered on Super Bowl LVI earlier this year.
Basketball is the third most popular sports betting market in the world, the second in the United States, and one of the fastest-growing sports in terms of viewership and audiences. Although the NBA is the most popular league, the US collegiate leagues – according to the AGA, around $10 billion is wagered every year on March Madness – and the Euroleague are also very popular among bettors.
The majority of basketball bets involve spread betting. This challenges you to forecast whether one team will defeat another by a specific margin. The most thrilling bets involve estimating the margin by which a favored team will defeat an underdog when the top team is playing away.
Even though its popularity is still slowly increasing in the United States, soccer, or association football, has already become an important sport betting market in the country. Given soccer is the most popular sport in the world, it’s easy to understand this trend within the gambling industry.
According to betting and sports data researcher Sportradar, soccer betting accounts for over 70 percent of all legal and illicit betting globally, particularly on major tournaments like the FIFA World Cup, the UEFA Champions League, and the English Premier League.
The most popular individual sport in the world, tennis is also an important market within the sports betting industry, and the huge number of tennis tournaments held every year is one of the reasons behind this popularity, as well as the fact that the game provides a variety of simple and straightforward bets that even rookie bettors can easily understand.
Even though there are many prestigious and renowned tournaments around the world, the US Open – held every year in August at the Billie Jean King National Tennis Center in Flushing Meadows, New York City – has been the most popular tennis event for betting in the United States.
The second most popular sport in America, baseball has always been one of the main sports betting markets in the country. With over 2,000 games played in the regular season of Major League Baseball, there are plenty of opportunities and different betting styles for bettors to choose from.
However, baseball is not a simple sport to wager on, since there are loads of players, teams, and statistics that really make a difference in the game. However, if you educate yourself about the sport and do your study prior to a season or game, you may be in line for a successful betting experience.