How Much Money Is Wagered On Sports In The US Every Year?

In the past few years, sports betting in the United States has experienced significant growth, especially following the 2018 Supreme Court decision that lifted the federal ban on sports wagering, allowing each state to choose whether or not to legalize online sports betting.

In 2024, the United States experienced a remarkable surge in sports betting, with licensed sportsbooks across 33 reporting markets handling nearly $150 billion in wagers. This represents a significant increase from previous years, showing rapid growth in the industry.

• 3000 BC – The first known records of gambling date back to ancient Mesopotamia, where six-sided dice were used for gaming purposes.
• 2300 BC – The earliest evidence of gambling in China appears in the form of rudimentary lottery games, believed to help fund government projects such as the Great Wall of China.
• 500 BC – Ancient Greeks and Romans engaged in sports betting, wagering on chariot races and gladiator fights. Though often banned, the practice remained popular.
• 1190 – Richard the Lionheart and Philip II of France implemented gambling laws for their soldiers during the Third Crusade, limiting bets to avoid distraction.
• 1600s – State-run lotteries became popular in Europe, with proceeds funding public projects such as bridges, roads, and even Harvard University in the U.S.
• 1790 – Organized horse race betting took shape in England, where odds-making became a standardized practice.
• 1860s – The rise of baseball in the United States led to its entanglement with gambling, culminating in the 1919 Black Sox scandal, where players were bribed to fix the World Series.
• 1961 – The U.S. government passed the Wire Act to prevent organized crime from conducting interstate sports betting via telecommunication.
• 1994 – The first online gambling sites were launched after the Free Trade & Processing Act was passed in Antigua and Barbuda, allowing licenses for online casinos.
• 2018 – The Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), allowing states to regulate sports betting.
• Las Vegas Wasn’t First – Contrary to popular belief, Nevada wasn’t the first place to legalize betting; the first recorded legal betting occurred in ancient Greece and was placed on chariot races.
• Nevada legalized gambling in 1931, but horse race betting had already been legal in states like New York and Kentucky.
• Romans not only bet on gladiator fights but also dice games and animal fights, despite laws restricting gambling.
• Harry Ogden, an Englishman in the 1790s, is credited as the first professional bookmaker offering odds on horse races.
• Sports Betting Is Bigger Than Ever – The total amount wagered on sports in the U.S. reached nearly $150 billion in 2024, with projections showing continued growth. 
• Since the 2018 PASPA repeal, 38 states and Washington D.C. have legalized sports betting, reflecting its rapid acceptance across the nation.
• PayPal was once banned from processing gambling transactions in the early 2000s but recently made a comeback as online betting laws evolved. Now, PayPal betting sites are one of the most popular options with bettors, thanks to their fast payouts and strong buyer protection features!
• The Super Bowl is the most bet-on sporting event in the U.S., with billions wagered every year, both legally and illegally. In 2023, bets on the Super Bowl totaled $16 billion.
• Betting on the Olympics – The ancient Greeks were known to bet on their favorite Olympians, making the Olympic Games one of the earliest sporting events with recorded gambling activity.
• The first-ever Super Bowl prop bet was on whether Chicago Bears’ lineman William “The Refrigerator” Perry would score a touchdown (he did).
• While illegal in the U.S., people around the world bet millions on U.S. presidential elections, making it one of the biggest non-sporting betting markets.
• New York, New Jersey, and Nevada are the states with the highest sports betting handles, each generating billions in wagers annually.
• The NFL, NBA, and college football attract the highest betting volumes in the U.S. The NFL remains the most bet-upon sports league, as legal wagers on the 2024 NFL season were projected to reach $35 billion, a 30% increase from the previous year.
• Globally, football (soccer) receives more bets than any other sport, especially during the FIFA World Cup.
• In 2023, mattress retailer “Mattress Mack” (Jim McIngvale) placed a $10 million bet on the Houston Astros to win the World Series, securing a record-breaking payout of over $75 million.
• Online sportsbooks now account for over 80% of all sports bets placed in the U.S.
• A bettor in 2011 won £500,000 ($700,000) from a £0.30 ($0.40) bet on a 15-event soccer accumulator.
• In 1569, Pope Pius V issued a decree against gambling, but state-run lotteries still thrived in Europe.
• The most common sports bet is the money line bet, where a bettor simply picks which team or player will win.
• Despite legalization in many states, illegal sports betting is estimated to generate over $50 billion per year in the U.S.
• Some sportsbooks offer bets on bizarre events like UFO sightings, celebrity divorces, and the next James Bond actor.
• The first-ever online sports bet was placed in 1996 on a Tottenham Hotspur vs. Hereford United soccer match.
• In 2015, a Las Vegas bettor correctly predicted 15 NFL games, turning a $5 parlay into a $1 million win.
• The U.S. sports betting market is projected to be worth over $200 billion by 2030, making it one of the fastest-growing industries in the country.