The 2026 FIFA World Cup is expected to be the biggest gambling event in history, with the expanded format acting as the primary driver for the betting surge. Betting will be available across sportsbooks and prediction markets with 48 nations contesting in the 104-game tournament this year, in a marked increase from the 32-team, 64-game format in Qatar 2022.
Kicking off on June 11 in Mexico City, the event will run through until July 19 with the final taking place in East Rutherford, New Jersey.
Hosting nations: the United States, Canada and Mexico, are braced for the greatest sporting tournament in the world, with this year's edition being the first World Cup to be staged across three nations.
There are as many talking points on the pitch as off it. The current political climate in the States is a contentious issue, as is the cost of tickets, transport and accommodation.
Many ordinary fans feel they have been priced out and frozen out of the mass event, in favor of the wealthy and elites. There are still a range of tickets still available for the games, but the prohibitive costs are proving too high an obstacle for the obvious, insatiable demand that exists. Meanwhile, the event is estimated to be the highest wagered sporting event in history.
World Cup expected to bring in $50B in global wagers
While fans may not be able to obtain tickets to be part of the live action, they certainly will be watching at home and elsewhere, with a massive betting handle to be recorded over the next six weeks.
The estimated $50B in global wagers would represent a sharp rise from the $35B in bets during the 2022 World Cup in Qatar.
One of the drivers of the expected surge is the expanded format for 2026 with 48 teams taking part and a total of 104 matches to be played, compared to the 64 fixtures played in 2022.
Analysts have also pointed to the burgeoning US sports betting access and favorable kick-off times for global audiences.
Macquarie analyst Chad Beynon has forecast around $500M in wagers per match on average, according to the 2022's World Cup figures.
Around 65% of the American population now has legal access to sports betting, up from about 40% during the last World Cup, according to the American Gaming Association.
This marks the first tournament where a majority of Americans can legally wager on the matches.
Most lucrative event in US sportsbook history
With the Stars and Stripes co-hosting the mass event, the 2026 FIFA World Cup is expected to be the most lucrative event in US sports betting history, according to reports released by two internationally recognized market research firms, H2 Gambling Capital and Eilers & Krejcik Gaming (EKG).
According to EKG estimates, this summer's World Cup could see up to $4.4B in wagers spent at US sportsbooks - eclipsing figures for both March Madness and Super Bowl LIX.
That projection represents a best-case scenario for gaming operators, in which the USMNT enjoys a deep run during the tournament.
These factors should provide a temporary boost to sports betting operators, with Macquarie projecting a roughly 2% to 5% lift to 2027 EBITDA for well-positioned companies, particularly those with strong football exposure and cross-selling capabilities into casino products.
Global scale and reach of the World Cup
Flutter Entertainment, parent of FanDuel, was highlighted as a top beneficiary given its international reach, including in football-mad markets like Brazil.
"We think the Super Bowl is big here in America. You might have 200 million people watching it," said Flutter CEO Peter Jackson, speaking on CNBC's Closing Bell.
"Last time, when the World Cup Finals were played in Qatar, 1.5 billion people watched the final. Five billion people watched the whole competition, so this is massive," he added.
Deutsche Bank has estimated the US betting handle at about $3.3B, with FanDuel and DraftKings projected to capture the largest shares.
In recent times, sportsbooks have expanded their offerings significantly, with Caesars Sportsbook providing 10 times more betting options than in 2022.
"If the US Men's National Team makes a deep run, that's when things could really accelerate, driving massive spikes in engagement and betting with each match," Caesars Digital Senior Vice President of Sports Dominic Hammond told CNBC.
"At the same time, the tournament's unpredictability and the surge in parlay betting mean just a few key upsets can significantly swing outcomes."
World Cup meets prediction markets
Prediction market platforms such as Kalshi have also seen strong interest, offering hundreds of markets tied to the tournament amid broader growth in the sector.
This week, Piper Sandler analyst Patrick Moley noted that Kalshi and Polymarket recorded a collective volume growth of 13% week-on-week, heralding a record $7B in trading volume.
Conversely, gambling awareness groups have cautioned against the prolonged event, highlighting that multiple daily games could fuel problematic betting.
"Betting apps are optimized for engagement. They want to keep their users in action for as long as possible so their gambling becomes habitual," said Matt Zarb-Cousin, co-founder and director of external affairs at Gamban.
"Fans will be bombarded with continuous advertising and inducements for frequent betting opportunities. For the gambling industry, the World Cup will be like March Madness on steroids."
