World Cup betting could top $50 billion as sportsbooks, prediction markets gear up for tournament

The 2026 FIFA World Cup could become the biggest betting event in history, with global wagering projected to exceed $50 billion as sportsbooks and prediction markets prepare for a surge in activity during the expanded tournament.

The competition, which began yesterday in Mexico City and concludes six weeks later at MetLife Stadium in East Rutherford, New Jersey, will feature 48 teams competing across 104 matches, 40 more than the 2022 edition.

Macquarie analyst Chad Beynon estimates global wagers on the tournament could surpass $50 billion, up from more than $35 billion during the 2022 World Cup. The increase is expected to be driven by the expanded format, favorable North American time zones and broader access to legal sports betting in the United States.

Macquarie forecasts the tournament could boost operator earnings before interest, taxes, depreciation and amortization by 2% to 5% in 2027, with companies that have large soccer audiences, international exposure and strong cross-selling capabilities expected to benefit the most.

The firm identified Flutter Entertainment, the parent company of FanDuel, as one of the best-positioned operators. It also highlighted Super Group, Rush Street Interactive, Genius Sports and Sportradar as potential beneficiaries of increased betting activity.

"We think the Super Bowl is big here in America. You might have 200 million people watching it," Flutter Entertainment Chief Executive Officer Peter Jackson said.

"Last time, when the World Cup Final was 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 estimates betting handle in the United States alone could reach approximately $3.3 billion during the tournament. The bank projects FanDuel could generate about $1.3 billion in handle, followed by DraftKings with $1.1 billion. BetMGM could attract about $250 million in wagers, while Caesars and Penn Entertainment's theScore Bet could generate about $120 million and $83 million, respectively.

Caesars Sportsbook is offering ten times more betting options than it did during the 2022 World Cup as operators expand products such as same-game parlays, live betting and soccer-specific wagering offerings.

"If the U.S. 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," Dominic Hammond, senior vice president of sports at Caesars Digital, said.

"At the same time, the tournament's unpredictability and the surge in parlay betting mean just a few key upsets can significantly swing outcomes," Hammond added.

Prediction markets are also seeking to capitalize on the event. Kalshi is offering nearly 500 World Cup-related markets, while Fanatics, FanDuel and DraftKings have introduced prediction products in jurisdictions where they do not hold sports betting licences.

According to Piper Sandler, Kalshi and Polymarket recorded a combined $7 billion in trading volume, up 13% from the previous week. DraftKings reported annualized trading volume of $3.1 billion in May, a 34% increase from the previous month, while annualized consumer volume rose 24% to $1.3 billion.

The growth of prediction markets comes as the sector faces legal challenges in several U.S. states. The Commodity Futures Trading Commission maintains that it has exclusive authority to regulate event contracts.

Sports betting access has expanded significantly since the last men's World Cup, with about 65% of the U.S. population now able to legally place wagers, compared with about 40% in 2022.

Industry growth has also raised concerns among responsible gambling advocates. A survey by fraud prevention firm SEON found that licensed betting apps remain the most popular wagering platform, chosen by 29% of respondents, while 19% preferred prediction markets. Nearly a quarter of respondents admitted opening multiple accounts to access promotions.

Matt Zarb-Cousin, co-founder of gambling-blocking technology provider Gamban, warned that the tournament's schedule could increase gambling-related risks.

"Betting apps are optimized for engagement; they want to keep their users in action for as long as possible so their gambling becomes habitual," Zarb-Cousin said.

"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," he added.