US Sports Gambling Surge: $166B Wagered in 2025, Outpacing Entertainment Industries
According to the BBC, the 2026 FIFA World Cup has set a record as the largest betting event in history, with global wagers exceeding $50 billion. In the United States, Caesars Sportsbook experienced a 30% rise in bets compared to NCAA tournaments, while DraftKings reported a staggering 650% increase, and BetMGM noted a 211% rise from 2022. This growth follows the 2018 Supreme Court ruling that invalidated PASPA, enabling online betting in 30 states and Washington, DC. In 2025, Americans placed $166 billion in bets at legal sportsbooks, incurring losses of $16 billion. Research has shown a rise in irresponsible gambling, with a UCLA study revealing nearly a 1% drop in credit scores and a 25-30% increase in bankruptcies. The New York Fed highlighted over a 10% spike in credit delinquencies among new bettors.
Key facts
- 2026 World Cup generated $50bn in global bets, biggest betting event in history.
- US mobile betting legal in 30 states plus DC since 2018 Supreme Court ruling.
- Americans wagered $166 billion in 2025, losing $16 billion.
- Sports betting spending exceeds combined revenue of movies, music, books, and museums ($70bn).
- Betting crowds out investment: $1 deposit reduces net investment by 99 cents.
- Credit scores fell nearly 1%, bankruptcy filings up 25-30%, debt in collections up 8%.
- New York Fed: credit delinquencies spiked over 10% among new bettors.
- Warren Buffett: legalized gambling is a tax cut for the wealthy.
- Prediction market volume rose from $5bn to $24bn monthly from Sept 2025 to April 2026.
- Brazil: $68 billion wagered via Pix in 2024, one year after legalization.
Entities
Artists
- Warren Buffett
- Donald Trump Jr.
- Martin Conway
- Wayne Taylor
- Hollenbeck
- Matt Bresler
- Jason Kotter
- Patricia Marins
- Lula
- Aakash Gupta
Institutions
- BBC
- ESPN
- Caesars Sportsbook
- DraftKings
- BetMGM
- Odditt
- Supreme Court
- Fortune
- Association of American Publishers
- Georgetown University
- Southern Methodist University
- UCLA
- New York Fed
- NPR
- FT
- Washington Post
- Gambling Commission
- Born in Bradford
- Pix
- ICL Noticias
- Polymarket
- Kalshi
- CFTC
- Berkshire Hathaway
- Pew Research Center
- The Block
- Crane Zeng
Locations
- United States
- Washington, DC
- Utah
- Hawaii
- Brazil
- United Kingdom
- Bradford
- Dallas
- Texas