FIFA World Cup 2026 set to shatter betting records with $50B in wagers but hidden risks loom

The 2026 FIFA World Cup is set to become the largest betting event in history with record-smashing wagers placed worldwide.

According to a new report from a leading investment bank Macquarie, the hype around the World Cup is so exciting that the tournament is expected to generate over $50bn (£37.4bn) in global bets, averaging around $500m per match.

The recent projected betting amount marks a significant uptick in wagers compared to the $35 billion that was placed during the 2022 World Cup held in Qatar.

Speaking on Schwab Network, Beynon outlined a global wagering figure that could top $50 billion and mark the “biggest gambling event in history.”

Since then, the online gambling landscape has undergone a dramatic shift due to the rise of various prediction markets such as Polymarket and Kalshi. Moreover, the legalization of sports-based betting in the US and international markets has further fueled enthusiasm for the biggest event. As a result, around 65 percent of the population now can gamble legally. In 2022, the figure was restricted to 40 percent.

Other key factors are also responsible for driving the betting amount up. For instance, in the expanded tournament format, the number of teams has increased from 32 to 48, broadening the schedule to over 100 matches up from 64.

Additionally, the expansion in viewership will also boost the wagers. Games hosted in the US, Canada, and Mexico will boost global viewership and demand in Europe, Latin America, and Africa.

Of $50 billion, roughly $3 billion will come from customers in the US and traditional sportsbooks like FanDuel and DraftKings.

Here is the downside too. According to gambling reform advocates, around 90 percent of sport bettors lose money long-term, risking life-changing debt and distress, particularly among young people.

Bernal said, "99 out of 100 sports bettors lose money in the long-term... the business model for commercialised sport gambling operators is completely based upon the people who have been turned into addicted gamblers, an addiction that causes victims to die by suicide at a rate unlike any other."

Data from the National Centre for Social Research report UK indicates that 79% of gambling operators' winnings come from the top 10% of spenders.

UK-based gambling reform campaigner Matt Zarb-Cousin said “punters betting on the World Cup will be cross-promoted more addictive casino content.”

In the midst of growing fever for FIFA, the campaigners are urging the governments globally to restrict addictive forms of commercialized gambling.

The US Commodity Futures Trading Commission (CFTC) has proposed strict regulations to ban betting on terrorism, war, assassination, and illegal acts.

Prediction market operator Kalshi has removed controversial topics following backlash, while rival Polymarket continues to offer them without earning fees.