In the past couple of decades, the sports betting industry has evolved so much that it’s become one of the biggest entertainment industries worldwide.
If you’re a fan of sports betting and sports in general, here are ten interesting facts you should know about this popular activity.
10. Baseball Might Be the Hardest Sport to Bet On
In a direct comparison of all major sports that bettors like to bet on, baseball firmly ranks first as the hardest sport to bet on.
The biggest reason for this is that it’s a hard sport to understand and that it is completely random.
With 162 games in a season, baseball can be very unpredictable. In most other sports, favorites and underdogs are far more apparent than in baseball.
Add to it the streaky nature of the sport and its players, baseball is certainly not an easy sport to bet on, especially if you’re a beginner.
9. Even the Best Sports Bettors Have Around a 50% Win Rate
While most casual bettors think that successful sports bettors win around two-thirds of their bets, the reality is very different.
Even pros who live from betting on sports win between 53% and 55% of all bets they place.
This goes to show that no matter how skilled or experienced a bettor is, there’s no way to guarantee profits, as sports betting is simply too unpredictable.
8. Most Bettors Make Sports Bets Without Doing Any Research
Researching the teams and leagues you want to bet on is one of the key aspects of being a successful sports bettor.
That said, recent stats show that only a small percentage of bettors do so. This explains why most punters lose more than they win and why sportsbooks are so profitable.
7. US Bettors Place the Largest Bets
In the US, the average bet size is larger than in any other country in the world. This is understandable, as the US is one of the richest countries out there.
Still, looking at the average numbers compared to some other big sports betting markets, an average US sports bettor places around 40% larger bets than an average bettor in the UK.
When it comes to the specific sports, US sports bettors bet most on the NFL, while NHL is the most popular option for sports betting in Canada.
6. Counter-Strike Betting Rules eSports
While sports like LoL, Dota 2, and Fortnite might be competing for the top space in the eSports world, CS: GO is by far the most popular game in the betting world.
So much so that around half of all bets in eSports markets are placed on this game. Dota 2 takes a distant second place.
5. Horse Racing Is the Second Most Popular Sport to Bet On
This might come as a surprise for many casual punters, but betting on horse racing is wildly popular globally.
Betting on horse racing has been a popular hobby for centuries. Today, it’s estimated that the worldwide horse racing betting market is worth over a hundred billion dollars.
4. Twenty Percent of All People Worldwide Have Bet On Sports
This stat shows just how popular and common sports betting has become in our society. Of course, this doesn’t mean that twenty percent of people bet regularly, but that they have placed at least one sports bet in their life.
Plus, these stats can significantly vary from country to country. For example, Australia has one of the highest percentages of sports bettors, with around forty percent of adults gambling almost regularly.
3. The Legality of Betting in The USA Is Expanding
The US has long had one of the strictest sports betting laws, outlawing sports betting entirely or only allowing it in certain states.
However, this has changed significantly over the last few years, as almost every other US state has begun reviewing its sports betting legislation.
There are already two dozen states that have legalized sports betting, with more to follow in the near future.
2. September and December Are the Biggest Betting Months
September holds this place because it marks the first weeks of many sports competitions, especially in the football world.
When it comes to betting in December, the days around Christmas and New Year are always super popular to bet on. Usually, there are many great matchups purposely set for these dates.
1. Future Bets Can Be Great Investments
Most people miss out on futures, an exciting type of bet that allows you to wager on the entire competition before it even begins.
Future bets can be very rewarding, as they allow you to bet on an underdog or get great odds on an event, making them very profitable if you know the competition you want to bet on.