As the countdown to the 2026 FIFA World Cup begins, excitement is building not just for the matches but also for the anticipated surge in sports betting. With Canada, the United States, and Mexico jointly hosting this monumental event, a recent report by investment bank Macquarie predicts global betting volumes could surpass a staggering US$50 billion over the course of the tournament. This figure is bolstered by the vast number of games—over 100—scheduled to unfold across six weeks, with average wagers potentially exceeding US$500 million for each match.
A Booming Betting Landscape
The expansion of legal sports betting in North America has transformed the landscape since the last World Cup in 2022. According to the report, accessibility to legal betting markets has risen sharply, with 65 per cent of the U.S. population now able to place bets legally, up from just 40 per cent during the previous tournament. This growth correlates closely with the increasing popularity of football in Canada and the U.S., creating an environment ripe for new betting behaviours.
Bruce Kidd, a professor emeritus at the University of Toronto, described the World Cup as a “market-enhancing event” for Canadian sports betting firms. He noted that Ontario is expected to see a particularly significant surge in wagers due to its competitive landscape, featuring over 40 gambling companies vying for market share. “These companies will be aggressive in not only retaining their existing customers but also in expanding their consumer base,” Kidd stated.
The Dark Side of Betting
While the financial prospects of sports betting appear robust, experts warn of the potential pitfalls associated with increased gambling exposure. Andrew Kim, an associate professor in the department of psychology at Toronto Metropolitan University, expressed concerns that the pervasive advertising surrounding the World Cup might lead some individuals into problematic gambling behaviours. “For some people, this may mark the beginning of issues related to sports betting. Just like alcohol, gambling can be addictive,” Kim cautioned.
Kidd highlighted the alarming rise in gambling addiction, attributing it to the normalisation of sports betting. With new platforms such as Polymarket and Kalshi gaining traction, the legitimacy of betting has surged, allowing users to place wagers on a myriad of sporting events in real-time. “It’s not just about going to a bookmaker anymore; it’s a fast-paced environment where one can bet on virtually any aspect of a game,” he added.
The Allure of Prop Bets
One of the key attractions for bettors is the rise of “prop bets,” which allow wagers on specific events within a game. In a baseball match, for instance, one could bet on each of the 300 pitches, creating opportunities for countless wagers. This concept extends to soccer, where bets can be placed on individual actions, such as the outcome of a penalty shot or a free kick. Kim noted that these micro-bets can make betting apps resemble casino slot machines, increasing the risk of addiction.
“When engaging with prop bets, especially while consuming alcohol, the risks significantly escalate,” Kim explained. “It’s crucial to set limits and treat betting as a form of entertainment rather than a way to make money.”
A Growing Concern in Canada
The rise of sports betting has not come without consequences. A study published in the Canadian Medical Association Journal revealed worrying statistics: since Parliament legalised betting in Canada in 2021, the percentage of Canadians experiencing gambling-related problems has surged from 1.3 per cent to 9.9 per cent—a staggering sixfold increase in just five years.
Kidd emphasised that this trend underscores an urgent need for awareness and responsible gambling practices. “The statistics surrounding addiction in Canada are alarming,” he remarked. “Consuming alcohol while betting only compounds these issues, making it imperative for individuals to establish financial limits and regard gambling as a recreational activity.”
Why it Matters
The upcoming World Cup serves as a double-edged sword for Canadian sports fans. While it promises an exhilarating showcase of international talent and unity, the accompanying surge in sports betting could herald a new era of gambling addiction. As the event unfolds, it will be crucial for individuals, regulators, and the betting industry to prioritise responsible gambling practices to mitigate the potential negative impacts on society. The allure of easy money must be tempered by a commitment to safeguarding mental health and well-being in a rapidly evolving betting landscape.
