This article helps readers answer the question: how much money is wagered on sports? It separates stakes from operator revenue, contrasts legal and illegal channels, and explains why simple headline totals can mislead. The material is grounded in regulator reports and industry trackers so readers can follow the sources and apply the guidance to their own reporting or analysis. We use official regulator statistics where available, industry trackers for recent trends, and the UNODC assessment as the best-available global illegal-market estimate. The goal is not to produce a single definitive global total but to show how to read and compare the numbers responsibly.

Legal U.S. handle in 2023 was about $120 billion, with operator revenue near $10.9 billion.

Industry trackers indicate U.S. legal handle passed $160 billion in 2025, showing continued growth.

The UNODC's last global estimate places illegal sports betting turnover up to about $1.7 trillion, underscoring significant opacity.

Quick answer: how large is all sports wagering today?

Headline figures to take away

At a glance, two numbers matter most: the legal, regulated U.S. sports betting market reported a handle baseline of roughly $120 billion in 2023 and operator revenue near $10.9 billion, while global illegal turnover estimates are far larger, with the last comprehensive study suggesting figures up to about $1.7 trillion. For the U.S. figures, see the American Gaming Association report for the 2023 baseline and industry trackers for recent updates. American Gaming Association State of the States report and the AGA Commercial Gaming Revenue Tracker

Those two headline figures measure different things and cannot be added together without clarifying definitions. The U.S. numbers describe reported legal stakes and operator receipts, while the larger illegal estimate is an opaque turnover range that reflects unregulated, unreported activity. Readers should treat each number on its own terms.

Why a short answer needs careful qualifiers

A short answer is useful for orientation, but it can mislead if you do not note whether a source reports stakes (handle), operator revenue, or an estimate of illegal turnover. One reason is that operator revenue is net of payouts and taxes, while handle is the gross amount staked by bettors. Distinguishing these metrics is essential when asking how much money is wagered on sports.

all sports wagering

The phrase "all sports wagering" can refer to total stakes placed across a set of markets, to operator receipts after payouts, or to estimates that try to include illegal activity; make sure you know which definition a headline uses before comparing numbers.

Definitions: handle, revenue (GGY/GGR), legal vs illegal markets

What is 'handle' and how is it reported?

Handle means the total value of bets placed, sometimes called stakes. It is a gross measure of customer activity and provides a direct sense of how much money is being risked on events in a given period.

Handle is typically reported by regulated operators and collated by industry trackers, but not all regulators publish handle consistently. For example, some reporting regimes focus on operator revenue rather than handle, which complicates cross-jurisdictional comparisons. The UK regulator traditionally emphasizes Gross Gambling Yield rather than total stakes. UK Gambling Commission industry statistics

How much money is wagered on sports?

Answering how much money is wagered requires distinguishing stakes (handle) from operator revenue and separating legal, reported figures from estimates of illegal turnover; legal U.S. handle was near $120 billion in 2023, trackers indicate over $160 billion for 2025, and the UNODC's last global illegal estimate is up to about $1.7 trillion.

What regulators report as Gross Gambling Yield (GGY) or Gross Gaming Revenue (GGR)

GGY or GGR is the amount operators retain after settling winning bets and before taxes and other deductions. It represents the industry cut, not the total money customers risked. That is why a country reporting GGY alone will show a smaller number than a country reporting handle for the same level of player activity.

Think of handle as the full pot of stakes and GGY as the operator slice; both are useful but answer different questions about market scale and operator economics.

Why legal and illegal channels must be kept separate

Legal markets are those where licensed operators report activity to regulators; illegal channels are opaque and do not report consistent figures. Attempts to aggregate legal reporting with illegal estimates require careful methodology and transparent assumptions, because illegal turnover estimates are often wide ranges rather than precise annual totals.

The United Nations Office on Drugs and Crime provided the most recent comprehensive assessment of global illegal turnover, and that estimate should be used as a high-level indicator rather than a precise current total. UNODC Global Report on Corruption in Sport

How analysts measure the market: data sources and common methodology problems

Primary data sources: industry trackers, regulator reports, market surveys

Analysts rely on three main source types: regulator publications that report operator stats, industry trackers that compile state or national data across providers, and trade body surveys that aggregate operator submissions. The Legal Sports Report tracker is a commonly used industry data source for recent U.S. revenue and handle trends. Legal Sports Report sports betting revenue and handle tracker and other trackers such as Sportsbook Review

Each source type has strengths and limits: regulators provide official numbers for their jurisdiction but may report different metrics, trackers offer continuity across markets but depend on source definitions, and trade bodies provide context but may emphasize particular segments.

Quick data checklist for converting and comparing wagering figures

Metric
Source
Time period
Conversion assumptions
Jurisdiction

Use to note assumptions when presenting ranges

Common adjustments and estimation methods

When analysts try to build comparable series they often make adjustments such as excluding taxes, standardizing time periods, or converting reported revenue to implied handle by applying an assumed payout ratio. Each adjustment introduces uncertainty because payout ratios and product mixes vary by market and by sport.

For instance, converting GGY to implied handle requires choosing a net margin to divide into revenue; small differences in the assumed margin can produce large swings in implied handle when aggregated across large markets.

Why global aggregation is fragile

Global totals are fragile because reporting practices differ and the illegal market is poorly measured. The UNODC 2021 estimate of illegal turnover remains the last comprehensive global assessment, and analysts must treat it as a foundational range rather than a precise current total. UNODC Global Report on Corruption in Sport

Given these constraints, a defensible global figure requires transparent assumptions, separate tallies for legal and illegal channels, and clear labeling of metric types before publication.

U.S. snapshot: handle, revenue and recent growth

2023 baseline: roughly $120 billion handle and $10.9 billion revenue

The regulated U.S. sports betting market had a reported handle of about $120 billion in 2023 and generated approximately $10.9 billion in operator revenue, reflecting significant expansion since large-scale legalization began in 2018. The American Gaming Association's state-level survey provides the official baseline. American Gaming Association State of the States report

Those numbers show how much customers placed in bets and what operators retained, respectively. For clarity when citing U.S. data, always label whether you report handle or revenue because the two figures convey different information about market activity and operator economics.

Industry trackers' 2025 signal: handle surpassing $160 billion

Industry trackers report that full-year 2025 U.S. handle surpassed $160 billion, indicating continued growth as new states contribute and mature states expand their markets. This 2025 signal comes from regular industry compilations that follow operator reporting across states and time. Legal Sports Report sports betting revenue and handle tracker

See the FundedPlays challenge options and evaluation programs

For readers who track U.S. figures, consider subscribing to data updates or a tracker feed to follow how handle and revenue evolve across states in near real time.

View challenge details

What drives growth: new states, maturation of markets

Growth after 2018 results from two forces: the geographic rollout of legal markets as states authorize regulated operators, and increased activity where markets have matured and product variety and marketing broaden engagement. Both elements affect handle and operator revenue differently, depending on local tax and reporting rules.

When comparing years, account for new market openings and changing product mixes because they can change the relationship between stakes and revenue over time.

Europe snapshot: online dominance, football first, tennis second

Which sports attract the most online bets in Europe

In Europe, football dominates online sports betting by a wide margin, with tennis consistently the second-largest sport by online betting revenue, according to recent EGBA figures. These sport-level rankings matter because product mix affects average margins and reporting behavior. European Gaming and Betting Association key figures

Because online channels continue to grow in share, sport rankings by online revenue increasingly shape operator reporting and market analysis across European jurisdictions.

How online channels are changing the market mix

Online platforms shift volume and margins by enabling live betting, micro-markets, and cross-border access. That mix can increase turnover while changing operator revenue patterns because live and in-play markets often carry different payout dynamics than pre-match markets.

Regulators across Europe report different metrics, so analysts must adjust when comparing a region-wide online total to national reports that might focus on GGY rather than handle. The UK regulator's emphasis on revenue is one example of why simple aggregations across countries can mislead. UK Gambling Commission industry statistics

Global picture and the scale of illegal sports betting

Why global aggregation is uncertain

Aggregating global wagering activity is difficult for two reasons: inconsistent reporting standards across jurisdictions and the opaque nature of illegal markets. Regulators publish official data for licensed activity, but illegal turnover estimates rely on indirect methods and are best presented as ranges rather than point estimates.

Because of these limitations, analysts typically present separate tallies for reported legal activity and parallel estimates for illegal turnover to avoid conflating apples and oranges.

UNODC 2021 estimate: illegal market up to $1.7 trillion

The United Nations Office on Drugs and Crime's 2021 assessment remains the last comprehensive global estimate indicating illegal sports betting turnover may reach up to $1.7 trillion annually, a figure that highlights the scale and opacity of unregulated channels. Use this number as a contextual ceiling, not a precise current total. UNODC Global Report on Corruption in Sport

Comparing that range with reported regulated handles shows a stark contrast in transparency and scale; regulated reporting gives precise country and state numbers while illegal turnover remains a high-level, uncertain estimate.

Funded Plays Challenges

View challenge details

How to treat the illegal-market figure in analysis

When presenting global totals, label illegal-market figures clearly and include methodological caveats. Present them as ranges or sensitivity scenarios and avoid adding illegal turnover figures directly to regulated handle totals without explicit justification and transparent conversions.

For readers seeking structured ways to test strategies without placing regulated wagers, skill-based funded challenge platforms provide a different environment for demonstrating prediction ability without implying access to the illegal market or guaranteed returns. how our evaluations work

Integrity risks: which sports trigger the most alerts and why it matters

Monitoring results: football and tennis dominance in suspicious alerts

Integrity monitoring repeatedly shows that football and tennis account for most suspicious betting alerts globally, which means these sports carry concentrated manipulation risk relative to others. Surveillance and reporting by integrity services highlight patterns in alert volumes and types. Sportradar Integrity Services annual report on betting corruption and match-fixing

High alert volumes in popular sports are not proof of widespread corruption, but they do indicate where monitoring and mitigation efforts are most active and where stakeholders should prioritize integrity controls.

What integrity alerts imply for stakeholders

An integrity alert is typically a flagged pattern in betting markets or event data that suggests abnormal activity and warrants investigation. For operators and regulators, alerts trigger deeper reviews and, when warranted, reporting to competition authorities or law enforcement.

For bettors and journalists, the presence of integrity alerts should temper confidence in markets where suspicious activity is known to be concentrated, and encourage reliance on reputable outlets and regulator statements when reporting or analyzing events.

How regulators and services respond

Responses range from increased monitoring and information sharing to formal investigations and, where appropriate, sanctions. Integrity services work with leagues, operators and regulators to triage alerts, investigate patterns, and recommend remedial steps that reduce vulnerability to manipulation.

Because large markets can draw more attention and more sophisticated manipulation attempts, stakeholders in those markets have a particular incentive to invest in surveillance and transparent reporting.

How to interpret numbers as a bettor, journalist or policymaker

Questions to ask when you see a headline number

When you encounter a headline about total wagering, ask four questions: what metric is used (handle or revenue), what time period does it cover, what jurisdictions are included, and does the figure include illegal channels or only licensed activity? Clear answers to those questions determine whether two figures are comparable.

Always check the original source and prefer figures that explicitly define the metric and time frame before quoting them in analysis or reporting.

Quick checklist for comparing markets

Use this short checklist when comparing markets: name the metric, cite the source and date, adjust for taxes or exclude them explicitly, and provide a range if you convert revenue to implied handle. When converting, state the margin assumptions used because they materially affect the result. UK Gambling Commission industry statistics

Reporters should include a short note explaining the conversion method if they present implied handle figures, and policymakers should collect both handle and revenue in public reporting to improve transparency.

Recommended caveats to include when publishing figures

When publishing totals, include caveats such as whether figures are gross stakes or operator revenue, whether taxes are included, and whether illegal estimates are being presented as ranges. These clarifications prevent accidental conflation of distinct metrics and improve readers' understanding.

Where possible, link to the original regulator or tracker data and avoid presenting implied handle conversions as definitive without showing the underlying assumptions.

Common mistakes and how to avoid misleading comparisons

Mixing revenue and handle

A common mistake is treating operator revenue as if it were equivalent to stakes. Always label the metric you cite and, if you must convert between them, show the conversion assumptions rather than presenting a single unqualified total. The UK example demonstrates why revenue-focused reporting changes the apparent size of a market. UK Gambling Commission industry statistics

Using outdated illegal-market estimates as current facts

Another frequent error is treating the UNODC 2021 illegal-market estimate as a precise current-year total. Use it as the best available comprehensive assessment but make clear it is a range-based, dated estimate that should be updated when new global studies are published. UNODC Global Report on Corruption in Sport

Ignoring market structure differences (taxes, product mix)

Failing to account for taxes, product mix and operator margins can distort comparisons. A mature online market with many live-betting options will show different payout dynamics than a newer market focused on fixed-odds pre-match betting, so avoid headline comparisons without structural context.

Simple remedies are to always name the metric, give the source and date, and present ranges when conversion is necessary.

Practical examples and scenarios: comparing two markets and converting revenue to handle

Example 1: converting UK revenue to an approximate handle why it is imprecise

Suppose a journalist has a UK operator revenue figure and wants an implied handle. They must select a payout or margin assumption to back-calculate stakes. Small differences in that assumption can change the implied handle by a large amount, so the result should be shown as a sensitivity range, not a single number. The UK regulator's revenue-focused reporting makes this conversion necessary and imprecise in many cases. UK Gambling Commission industry statistics

Always disclose the margin assumptions used and consider showing low, medium and high scenarios to convey uncertainty clearly.

Example 2: comparing a mature U.S. state to a newer market

Compare a mature U.S. state with established operators and diverse in-play markets to a newly legalized state that has a smaller operator presence and less product variety. The mature state may report higher handle and more stable margins, while the new market may show rapid growth but volatile margins and a different tax treatment that affects operator revenue figures. For U.S. national trends and state details, industry trackers and state surveys are the primary sources. Legal Sports Report sports betting revenue and handle tracker

Present comparisons with side-by-side tables that list metric definitions, time periods and tax rules so readers can see the structural differences rather than relying on headline totals alone.

How to present ranges and uncertainty to readers

When uncertainty is material, present ranges or scenario bands and label assumptions clearly. Use an annotated note to explain which parts of your total are reported legal figures and which are estimated illegal turnover, and avoid summing them without explanation.

Transparency about assumptions and a clear separation of legal and illegal tallies give readers the context they need to interpret large aggregated numbers responsibly.

Summary and next steps for readers

Key takeaways

Key takeaways are: the U.S. legal market had a 2023 handle near $120 billion and revenue near $10.9 billion, industry trackers indicate handle surpassed $160 billion in 2025, and the UNODC's last global illegal-market estimate is up to about $1.7 trillion, a range that highlights opacity in unregulated channels. Use each figure with its metric label and date. American Gaming Association State of the States report

Readers should follow regulator pages and industry trackers for updates and treat older global estimates as ranges until new comprehensive studies appear. Visit Funded Plays for tools and commentary related to evaluation and challenge formats.

Where to find updated figures and how to cite them

To update figures, check regulator sites for jurisdictional reports, consult industry trackers for aggregated time series, and use trade body publications for additional context. Our blog provides related posts and commentary. When citing, include the metric name, source and reporting period to keep comparisons accurate. Legal Sports Report sports betting revenue and handle tracker

Adopt a practice of separating legal reported totals from illegal estimates and labeling both clearly in any public presentation.

What is 'handle' in sports wagering?

Handle is the total value of bets placed, or stakes, and differs from operator revenue which is net of payouts.

Is the UNODC illegal-market figure a current global total?

No, the UNODC 2021 estimate is the last comprehensive global assessment and should be used as a dated range rather than a precise current total.

How should journalists report wagering totals?

Journalists should name the metric, cite the source and date, and disclose assumptions when converting between revenue and implied handle.

If you rely on wagering totals in reporting or analysis, prioritize transparency: name the metric, cite the source and date, and present ranges when conversions are necessary. Regularly check official regulator pages and industry trackers for updates, and treat older global estimates as context until new comprehensive studies are released. For an alternative way to practice sports forecasting without wagering real stakes, consider skill-based challenge platforms that use simulated funds and structured evaluation models as a way to develop prediction skills under controlled rules.