It’s all About the Numbers with Sports Betting Statistics
So much of sports betting comes down to numbers: there are numbers in the odds of who’s going to win, numbers in the stats that help drive victory or defeat, and numbers to help influence individual statistics. Numbers drive sports betting results. The more you know, the more likely you are to win.
Too often, however, we tend not to focus on the exact numbers behind sports betting statistics, and instead look at the bigger picture. That can be useful, but getting the skinny on the latest sports betting stats and trends can be tremendously helpful to your betting success.
We’ll take a look at some of the numbers behind sports betting stats to help you better understand them.
General Sports Betting Stats
- Sports betting accounts for 30-40% of global gambling revenue
- Over 45% of all sports bets are placed via mobile phone
- The US sports betting market has a market cap of between $60-73 billion
- Over 50% of US citizens have placed a bet on a sporting event at least once
- Only 18 of the 50 states having officially legalized sports betting
- In 2019, Nevada handled a total of $5.32 billion in sports bets
- eSports is fastest-growing sector of sports betting by volume
- The top sporting events to bet on in the US include football, basketball, and baseball
Which Sports are Most the Popular to Bet On?
Sports betting is possible on nearly every sport, but the top sporting events to bet on in the US include football, basketball, and baseball.
Not surprisingly, America’s favorite sport to put money down on is football. The best way to measure this is by the amount of money bet on a particular sport. This is referred to as the drop, and research by the UNLV Center for Gaming Research has tracked this amount since 1992. Football has been the most-bet-on sport since the UNLV Center started recording data. In fact, it’s been the most popular sport by at least $200,000 every year — some years, that number balloons to over $500,000.
The second most popular sport has been a close race between basketball and baseball. Despite the closeness, basketball has been in the lead in every year except 1998 and 1999. Those years were part of baseball’s golden age, when home runs were flying out of the park at record rates. Since 2009, however, basketball has begun to pull away, securing itself as the second most popular sport in the country. In 2019, for example, they closed the gap with football, clocking in at just $185,259 behind.
Why People Bet on Sports
Why bet on sports? Well, for one, it’s fun — it makes games more enjoyable, especially if you don’t have a particular rooting interest. Whether you bet $1, $100, or even more, having a stake in the game makes watching it more interesting and entertaining. Professional sports bettors aim for a win rate of 55% to keep betting sustainable and profitable. For the average bettor, a win rate of at least 52.4% is considered good as you are able to break even.
There has been research that shows that any kind of victory in gambling leads to the release of dopamine, a chemical in the brain that helps us feel good. These are some of the happy hormones, so in some ways, betting on sports is a way to increase our happiness. Of course, that happiness is increased only if you end up winning, which doesn’t always happen. But the possibility that you might win is exciting in itself — and it’s why people keep coming back.
Another fun perk of sports betting is that it is a communal activity. Many friends bet together, sometimes on opposing teams, which can be a fun rivalry. In person, watching with strangers who have the same betting interests can form fast friendships and create a sense of community. If you are sports betting in Vegas, the communal action just gets even better when the sportsbook energy is high and the technology is top-notch.
It’s also fun to test your knowledge. Many follow sports so closely and know a lot about it; betting on it puts that knowledge to task. How much do you really know? When you win, you get bragging rights. If you lose, it might be time to study up a bit more.
In all, it’s about increasing your happiness and having more fun.
Betting on Sports in Vegas
Now that you’ve got the basics down of how sports betting stats work, you’re ready to start wagering. Circa | Sports is the ultimate sportsbook in Las Vegas for sports betting. Stop by Golden Gate, the D, or soon at Circa Resort & Casino in Downtown Las Vegas to place your bets in person. Can’t make it into the sportsbook? Download the Circa | Sports app on iOS or Android to have your bookie right in your pocket and bet wherever you are in Vegas. Whether in person or on the app, join Circa | Sports for your premier place to bet on sports.