World Cup Could Bring Billions in Volume to Prediction Markets in 'Watershed Moment': Bernstein

The 48-team FIFA World Cup tournament is projected to generate billions of dollars in volume for prediction markets, marking a significant milestone for the industry, according to a March 11, 2024, report by Bernstein. This event is anticipated to be the largest single catalyst for online sports betting ever recorded. Bernstein analysts estimate that the World Cup could drive between $3 billion and $5 billion in gross gaming revenue, with a substantial portion of this volume flowing through prediction markets. The expansion of the tournament to 48 teams, up from the previous 32, is expected to increase engagement and betting activity significantly. This surge in participation is seen as a watershed moment, potentially normalizing prediction markets for a broader audience and establishing new benchmarks for future large-scale sporting events. The increased accessibility and mainstream attention are predicted to attract both seasoned bettors and new users, further solidifying the growth trajectory of the online betting sector.