As the 2026 FIFA World Cup prepares to kickoff next week, co-hosted by Canada, the United States, and Mexico, a new report has unveiled a forecasted surge in sports betting. Investment bank Macquarie predicts that global betting volumes could soar beyond US$50 billion during the tournament’s six-week span, with average wagers per match potentially exceeding half a billion dollars. This unprecedented growth reflects the increasing acceptance and accessibility of legal sports betting, particularly in North America, where the landscape has changed dramatically since the last World Cup.
A New Era for Sports Betting
The report highlights a significant shift in the sports betting market over the past four years, particularly in the U.S. The percentage of the population with access to legal betting has jumped from 40% during the 2022 World Cup to an impressive 65% today. As soccer’s popularity continues to rise in Canada and the U.S., experts believe this tournament could foster new betting behaviours and a heightened interest in wagering, bolstered by favourable time zones and a more varied product offering.
Bruce Kidd, a professor emeritus of sport and public policy at the University of Toronto, views this World Cup as a pivotal moment for Canadian sports betting companies. “This is a market-enhancing event,” he stated, noting that Ontario is poised to see a significant increase in wagering activities. With over 40 gambling operators vying for market share in Ontario, these companies are likely to adopt aggressive strategies to attract and retain customers.
The Risk of Addiction
However, the anticipated betting boom raises concerns about the potential for increased gambling addiction. Andrew Kim, an associate professor at Toronto Metropolitan University’s department of psychology, warns that the omnipresent advertising around sports betting may lead many Canadians down a dangerous path. He likens sports betting to other forms of addiction, stressing the need for caution. “For some people, this may mark the beginning of issues related to gambling,” Kim cautioned, likening it to the risks associated with alcohol consumption.
Kidd emphasised the alarming rise in gambling addiction since the legalisation of betting in Canada in 2021. Statistics reveal a disturbing increase in the percentage of Canadians experiencing gambling problems, skyrocketing from 1.3% to 9.9% over just five years. He attributes this troubling trend to the normalisation of sports betting and the emergence of online prediction markets, which have made wagering more accessible and instantaneous.
The Impact of Prop Bets
The rise of “prop bets,” or proposition bets, has also transformed the betting landscape. These bets, which can involve wagering on specific events during a match, have made sports betting feel akin to playing slot machines, according to Kim. For instance, in soccer, punters may find themselves betting on every moment, from penalty shots to corner kicks, which increases the frequency and intensity of betting.
Kidd noted that this trend poses additional risks, especially when combined with alcohol consumption. “Betting while drinking is a dangerous combination,” he said. He advises bettors to set financial limits and treat their wagers as a form of entertainment, rather than a means to earn money.
Why it Matters
The upcoming FIFA World Cup is set to be a watershed moment for sports betting in North America, with potential consequences that extend far beyond the event itself. While the financial gains for betting companies may be substantial, the risks associated with gambling addiction necessitate serious consideration. As Canadians prepare for the thrill of the tournament, it is vital that they remain aware of the potential pitfalls and approach betting with caution, ensuring that the excitement of the game does not come at a detrimental cost.