Americans plan to bet $1.8 billion on the 2022 FIFA World Cup
About 20.5 million Americans are expected to bet on the outcome of this year's FIFA World Cup as legalized sports betting continues to blossom across the nation.
Wagers are expected to reach $1.8 billion, according to an American Gaming Association estimate released this week. Most people will place their bets online or in-person as opposed to with a bookie. American bettors are giving Argentina, Brazil or the United States the best odds at winning it all, the association said.
The soccer tournament begins this Sunday and it arrives at a time when 31 states and Washington, D.C., have legalized online sports betting. That's compared to three states with legalization in 2018 — the last time the World Cup was held.
More states with legalized betting means this year's World Cup will be the most bet-upon soccer event in U.S. history, said Casey Clark, the association's senior vice president.
"With more than half of all American adults having access to legal betting options in their home market, legal sports betting will deepen American fan engagement in the most-watched sporting event in the world," Clark added.
Soccer betting way behind other sports
The World Cup estimate pales in comparison to other major sporting events this year — specifically the nearly $8 billion that Americans likely wagered on the Super Bowl or the $3 billion they placed on the NCAA's March Madness tournament.
States began legalizing online sports betting three years ago after a U.S. Supreme Court ruling from 2018 struck down a federal law barring gambling on football, basketball, baseball and other sports. States where sports betting is legal have reported millions of dollars in added tax revenue, according to gaming association data. Caesars Sportsbook, DraftKings and FanDuel have also become big winners in the sports-betting explosion.
Caesars gave Brazil the best odds at winning the tournament at +400, followed by Argentina at +550 then defending champion France at +650.
A mini-controversy stained much of the World Cup hype this week after FIFA officials announced that no alcohol will be sold at the eight stadiums in Qatar that will host matches. The Muslim country is considered to be very conservative and tightly regulates alcohol sales and usage.
The decision upset fans, in part because Qatar said in September it would permit ticketed fans to buy alcoholic beer at World Cup soccer matches starting three hours before kickoff and for one hour after the final whistle.