The curtain fell on the 2026 FIFA World Cup on July 19, 2026, after an exciting 39-day tournament. Held every four years, the FIFA World Cup is the world's largest and most prestigious football competition.
The tournament was jointly hosted by the United States, Canada, and Mexico, with matches played across 16 host cities—11 in the United States, three in Mexico, and two in Canada.
Whenever the World Cup takes place, the attention of football fans worldwide is naturally focused on the action on the pitch. Discussions revolve around favorite teams, star players, and which nation will eventually lift football's most coveted trophy.
Behind the cheers of hundreds of millions—perhaps even billions—of supporters, however, another industry eagerly awaits the tournament.
Its participants are not particularly interested in who becomes world champion. Instead, they look forward to the World Cup because it represents one of the most profitable sporting events in the world, capable of generating billions of dollars in revenue within just a few weeks.
That industry is sports betting.
The Biggest Betting Opportunity in FIFA History
As the largest World Cup ever held—with 48 teams and 104 matches—the 2026 tournament created significantly more betting opportunities than previous editions.
The greater the number of matches, the greater the number of wagers placed. Bettors could wager not only on match winners but also on total goals, first goal scorers, halftime results, corner kicks, yellow cards, and countless other betting markets.
For betting companies, this represents their peak business season, bringing substantial increases in customer numbers, betting volume, and profits.
Some operators generate a significant portion of their annual revenue during major sporting events such as the FIFA World Cup and the UEFA European Championship (Euro).
This raises an interesting question:
How do betting companies continue to make enormous profits even when some customers win millions of dollars?
Do they genuinely take huge risks, or is their business model carefully designed to ensure they maintain a long-term advantage?
In this article, we examine how the sports betting industry profits from the FIFA World Cup and identify some of the world's largest betting companies.
How Much Money Is Wagered on the World Cup?
According to Macquarie Group, an Australian investment bank, the 2026 FIFA World Cup is expected to become the largest sports betting event in history, with global betting turnover exceeding USD50 billion.
This represents an increase of approximately 43% compared with the estimated USD35 billion wagered during the 2022 FIFA World Cup.
The increase is driven by the expansion from 32 to 48 teams, the increase to 104 matches, and the continued rapid growth of the global sports betting industry.
How Do Betting Companies Make Money?
Many people assume betting companies simply profit because most gamblers lose.
In reality, their business model is far more sophisticated and systematic.
1. Built-in Mathematical Advantage
Betting companies set odds that provide them with a built-in mathematical edge.
For example, if a team's true probability of winning is 50%, bookmakers do not offer perfectly fair odds. Instead, they include a small profit margin, commonly known as the house edge or overround.
Over thousands—or even millions—of bets, this margin becomes one of their primary sources of profit.
2. Balancing the Betting Market
Bookmakers also seek to balance the amount wagered on each possible outcome.
Imagine a World Cup Final between Spain and Argentina. If too many customers bet on Spain, bookmakers may adjust the odds to make Argentina more attractive.
This encourages more bets on the opposite side and helps reduce the company's exposure should one outcome occur.
3. Massive Betting Volume
The World Cup is the industry's busiest period.
With 48 teams and 104 matches, bettors have more opportunities than ever before.
Besides predicting match winners, customers can bet on total goals, first goal scorers, halftime results, corner kicks, yellow cards, player statistics, and many other outcomes.
Every additional betting market increases transaction volume—and ultimately revenue.
4. Artificial Intelligence and Big Data
Modern betting companies rely heavily on Big Data and Artificial Intelligence (AI).
Odds are updated in real time whenever circumstances change—for example, when a player is injured, receives a red card, or when the momentum of a match shifts dramatically.
These technologies allow bookmakers to continuously manage their risk while maximizing profitability.
In short, betting companies do not rely on luck.
They rely on statistics, sophisticated risk management, and enormous betting volume.
Although some customers may win millions of dollars, the profits generated from millions of other bets generally more than cover those payouts.
The Giants of the Global Betting Industry
Several major betting companies are expected to benefit significantly from the 2026 FIFA World Cup.
Flutter Entertainment
Flutter Entertainment is the world's largest gambling company.
Listed on the New York Stock Exchange (NYSE), it has a market capitalization of approximately USD17.51 billion.
At the time of writing, its share price is approximately USD100.
Its portfolio includes well-known brands such as FanDuel, Paddy Power, Betfair, Sportsbet, and Sisal.
Flutter operates throughout Europe, North America, Australia, and several other international markets.
Entain plc
Listed on the London Stock Exchange (LSE), Entain owns brands including Ladbrokes, Coral, Sportingbet, and bwin.
The company also owns a stake in BetMGM, one of the largest sports betting platforms in the United States.
Its current market capitalization is approximately £3.51 billion, equivalent to around USD4.77 billion.
bet365
Founded in the United Kingdom by Denise Coates in 2000, bet365 has grown into one of the world's largest online betting companies.
The platform is particularly well known for its live betting services and serves millions of customers worldwide.
Although privately owned and not publicly listed, the company is widely believed to be worth several billion dollars.
DraftKings Inc.
Headquartered in the United States, DraftKings has experienced rapid growth following the legalization of sports betting across many U.S. states.
The FIFA World Cup is one of the company's most important events, significantly increasing customer activity and betting transactions.
DraftKings is listed on the Nasdaq, with an estimated market capitalization of USD11.83 billion.
Evoke plc (formerly 888 Holdings)
Evoke plc owns the William Hill and 888 brands.
The company operates throughout Europe and several international markets and also benefits substantially from major global sporting events.
It is listed on the London Stock Exchange, with a market capitalization of approximately £195.97 million, or USD266.5 million.
More Than Just Football—A Multi-Billion Dollar Business
Returning to Macquarie Group's estimate of USD50 billion in global betting turnover, it is important to note that this figure refers only to legal and regulated betting markets.
In reality, illegal bookmakers also operate worldwide, and the amount wagered through underground gambling networks could be considerably higher.
Even stock market speculators and market manipulators may temporarily shift their attention away from financial markets to participate in World Cup betting.
Thus, behind one of the world's greatest sporting spectacles lies another massive industry.
The FIFA World Cup is not only eagerly anticipated by hundreds of millions—perhaps billions—of football fans worldwide. It is equally awaited by the owners of legally licensed betting companies, whether publicly listed or privately held, as well as operators of illegal gambling businesses.
Final Thoughts
Every World Cup produces winners and losers among football fans.
Some celebrate in joy.
Others leave disappointed.
But one group almost always comes out smiling;
The bookmakers.
Sabri Jalil
Remisier | Investor | Speaker | Stock Market Course Organizer
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