World Cup may set historic record for betting

The men's FIFA World Cup, according to analysts' forecasts, may become the largest event in history in terms of betting volume.

According to estimates by the financial company Macquarie, the total betting turnover worldwide during the tournament will exceed 50 billion U.S. dollars, equivalent to approximately 85 billion manats.

Experts note that on average during the competition, betting activity can reach about 500 million dollars for each individual match. Thus, the upcoming tournament risks setting a new record for audience involvement in the gambling industry.

For comparison, during the 2022 World Cup held in Qatar, the total betting volume amounted to about 35 billion dollars. The expected growth in the current cycle is explained by the expansion of the tournament format and the increase in the number of participants; instead of 32 teams, 48 national teams will now take part in the competition. This, in turn, will increase the number of matches from 64 to more than 100 games over six weeks.

Against the backdrop of the growing betting market, organizations dealing with gambling addiction issues express concern about possible consequences. According to their data, the vast majority of gambling participants lose money in the long term, and major sports tournaments become a period of increased risk of users becoming involved in more aggressive and potentially addictive forms of betting.

Individual experts in the field of public health and gambling regulation warn that the sports betting industry largely relies on a sustainable model in which a significant portion of profits is generated from users prone to gambling addiction. They also point to the link between the development of such addiction and severe social consequences, including financial crises and psychological problems.

Against this background, calls are being made to strengthen state regulation and introduce stricter restrictions on the advertising and marketing practices of bookmakers during major sporting events, including FIFA World Cups.

Source: BBC