The Gambling phenomenon has well and truly become an obsession for millions of people across the world. With billions of dollars being lost due to gambling every year, many governments have started imposing stricter gambling laws.

However, one glaring exception to those laws has been the prominent avenue of Sports betting, which is a multi trillion dollar industry now.

• Did you know that betting on horseracing is permitted even in Islamic cities like Dubai, despite gambling being considered as haram (forbidden) in Islam ?
• Did you know that sports gambling revenue in the USA alone crossed the $1 trillion amount in 2016 ?
• Ever wondered which sporting events generate the maximum revenue out of sports gambling in the world ?

Well, then you are the right place as we have compiled the list of the richest sporting events from across the globe, which are a gambler’s paradise, with billions of dollars exchanging hands due to legal as well as illegal betting.

1. FIFA World Cup

Sport : Football (Soccer)
Venue : Varies (Russia 2018)
Date : June/July every 4 years
Prize Money : $400 million
Number Of Participants : 32

Quite comfortably the biggest sporting event in the world, the FIFA World Cup enjoys unmatched dominance when it comes to popularity and reach. Football is a global sport played by almost every nation in the world, and hence the World Cup is as big as it gets.

With almost every nation in the world taking part in the qualifiers, the FIFA World Cup finals event is played amongst the top 32 teams who manage to qualify. It is the most widely watched sports spectacle on the television, with almost 2.5 billion people watching the recent edition.

A mammoth $400 million was set aside in the 2014 edition to be distributed as prize money to all participants, with the eventual winners Germany taking home a mammoth $65 million.

The bookies made a hash of the previous world cup, with American bookies in particular turning over $200 million.

It was estimated that a total of $3.2 billion was wagered across the planet on World Cup games in 2014, an unprecedented figure, which looks likely to rise for the 2018 World Cup to be held in Russia.

2. UEFA Euro Cup

Sport : Football (Soccer)
Venue : Varies across Europe
Date : June/July every 4 years
Prize Money : $330 million
Number Of Participants : 24

One of the biggest international football events in the world, the UEFA Euro Cup sees 24 of the best European national teams compete for the coveted Euro title.

The competition is held every 4 years, with the next one to be held in Denmark in 2020. The last edition of the tournament was held in France, in 2016, with Portugal running out as the eventual winners, beating much favoured host country in the final.

The tournament had a total prize money of a staggering $330 million, with the winners taking home $65 million.

The Euro championships are historically brilliant opportunities for gamblers all over the world, with the 2016 edition seeing total wagers cross the $6 billion mark, a new record.

Punters across the world made millions in profits after the unexpected win of the underdogs Portugal, especially after their talismanic captain Cristiano Ronaldo left the field injured midway through the final.

3. NFL Superbowl

Sport : American Football
Venue : Varies
Date : February every year.
Prize Money : $30 million
Number Of Participants : 2

The National Football League’s finale, known popularly as The Superbowl, is comfortably the largest annual single-day event in the world of sports, in terms of the winning purse as well as the amount of money gambled on the event.

The 2017 Superbowl, won unexpectedly by The New England Patriots, is believed to have generated $4.7 billion from sports betting, most of it illegally wagered.

The Patriots were trailing by 28-3 in the 51^st Superbowl, and completed a remarkable and unprecedented turnaround to win the title and leave many of their fans instantly rich for showing faith in their team and placing bets on them against al odds.

While there are strict restrictions on sports betting in the USA, the NFL still sees millions of dollars wagered every single year, none more so than the Superbowl day.

It is a day widely celebrated by Americans as the biggest sporting event of the year, and people gather around with friends and family to watch the game together.

4. NBA Finals

Sport : Basketball
Venue : Alternate matches at both the finalists’ home grounds.
Date : June every year
Prize Money : $15 million
Number Of Participants : 2

The National Basketball Association is the most popular professional Basketball league in the world, with the best players from across the globe all securing lucrative contracts to play in the USA.

NBA players are among the highest paid athletes in the world, and the amount of money generated through merchandizing and ad revenues is unmatched in the world of sports, bettered only by the NFL Superbowl.

The TV Coverage for the NBA finals is shown by ABC, who rake in more than $15 million for every game they broadcast live.

For example, the 2016 NBA Finals were contested between the Golden State Warriors and Cleveland Cavaliers, and after 6 games the series was brilliantly poised at 3-3, setting up a grand finale.

The fact that the series went to the 7^th game, meant that ABC pocketed an additional $80 million from broadcasting and ad revenues, while the NBA earned $45 million, highlighting the money on offer for the sport.

This transpires to the sports betting market as well, with the unpredictable and fast-paced nature of the sport seen as a major attraction for gamblers who want to try their luck. The Warriors were clear favourites to win the title last season, and approximately $11 million was bet on them to win, as they eventually did.

5. UEFA Champions League

Sport : Football (Soccer).
Venue : Iconic stadiums across Europe.
Date : Mid May every year.
Prize Money : $800 million
Number Of Participants : 32

The UEFA Champions League is the premier football club competition in the world, with more money involved than the FIFA World Cup and the UEFA Euro Cup combined.

It is an elite competition with a rigorous participation criteria, as only the very best teams from all of Europe’s top leagues are eligible to qualify for the final round of 32.

It is considered as the most prestigious trophy in club football, with the winners also taking home more than $100 million, which includes TV rights and sponsorships.

Participants of the Champions League are paid per match, for example a club receives $1.5 million for every win in the group stages, with the figure rising as they progress further in the competition.

The Champions’ League has always been the bookamer’s favourite tournament, with the overall standard of the team’s involved and the popularity and reach of the tournament.

In 2012, when Chelsea beat Bayern Munich at their own home ground in the final, against all odds, it was reported that bookies lost a total of $950 million due to the unexpected shock result, a testament to the magnitude of betting which takes place in this competition.

6. ICC Cricket World Cup

Sport : Cricket
Venue : Varies (England 2019)
Date : Summer season in the host country.
Prize Money : $10.2 million
Number Of Participants : 14

Cricket is a traditional sport played by barely 20 nations across the planet. Invented by England and popularized by the likes of Australia and India, cricket has massive betting potential.

Though the USA and many European countries, which constitute the Wealthy West, as proclaimed, do not play this sport, it is still followed by more than 1.5 billion people primarily due to is popularity in the Indian subcontinent, with die hard fans in densely populated countries like Pakistan, Sri Lanka, Bangladesh and India of course.

This has led to a multi-billion dollar illegal betting industry operated in these countries, especially India, due to poor implementation of laws regarding illegal gambling.

Though ravaged by match-fixing scandals over the years, the sports betting industry in India still sees more than $200 million wagered on every match played by the national team. The recently held 2015 cricket World Cup in Australia saw betting figures cross the $1.5 billion mark.

7. Cheltenham Festival

Sport : Horseracing
Venue : Cheltenham Racecourse
Date : March every year.
Prize Money : $4.3 million
Number Of Participants : 12

The Cheltenham Festival is a horse racing festive week in the British calendar, held at the Cheltenham race course every March. It is one of the most prestigious horse races in the world, with a winning purse only below The Grand National, as far as English races are concerned.

Despite not awarding the biggest prize money as far as horse races around the world go, The Cheltenham Festival is still the biggest horse race in terms of money wagered on, primarily due to the high presence of Irish horses, and Irish men travelling down for the event.

It has always been a bookmaker’s favourite and the who’s who of the horse-racing world make it a point to never miss the festival.

19 of the top 40 betting horse races in England are held during the Cheltenham Festival, making it a gala event for punters.

Recently, the British Horse-racing Authority’s move to allow 48 hour declarations at the festival was very well received by the bookmakers as they will now get 24 hours extra to promote and sell races and odds.

8. Pegasus World Cup

Sport : Horseracing
Venue : Gulfstream Park, Florida
Date : January every year
Prize Money : $16 million
Number Of Participants : 12

The newest entrant on the horse racing circuit is the Pegasus World Cup, held at the Gulfstream Park in Florida on the 28th January 2017, with a mammoth winning purse of $12 million, overshadowing the previous highest horse racing winning purse of The Dubai World Cup.

However, the 2018 edition is set to offer a ridiculous winning purse of $16 million, setting the bar even higher.

The 2017 race was won by Arrogate, who is one of the most successful racehorses in recent years, winning 7 straight races in 2017, establishing his status as one of the best dirt track racehorses in history.

It was estimated that a total of $30 million was wagered on Arrogate to win this race, and he has already been installed as the facourite for the 2018 edition, with an estimated figure of $55 million expected to be wagered on him this time.

For compulsive gamblers, the racetrack is surrounded by many of the region’s top casinos as well, ensuring that is a gambling paradise overall.

9. Dubai World Cup

Sport : Horseracing
Venue : Meydan Racecourse, Dubai
Date : Late March every year.
Prize Money : $10 million
Number Of Participants : 20

Formerly the most prestigious horserace in the world before being overtaken by The Pegasus World Cup, The Dubai World Cup is still regarded as the gold standard of horse racing, especially due to the prominent presence of the Dubai royal family in attendance.

Inaugurated in 1996, The Dubai World Cup is the final race of the mammoth Dubai World Cup Night Event, where the total winning prize for the week reaches almost $27 million.

It is a grade 1 flat race, with thoroughbred horses required to be over the age of 4 (Northern Hemisphere) or 3 (Southern Hemisphere).

Annually held on the last Saturday of March every year, The Dubai World Cup attracts the biggest names in the world of sports, politics and entertainment for one gala event.

Though Dubai follows strict Islamic laws which prohibits gambling in general, horseracing, and The Dubai World Cup is a major exception, with betting for the tournament exceeding the $300 million mark, with many Arab Sheikhs demonstrating their unmatched wealth.

10. Rugby World Cup

Sport : Rugby
Venue : Varies (Japan 2019)
Date : Summer of host country
Prize Money : $15 million
Number Of Participants : 20

Administered by World Rugby, the Rugby World Cup is undisputedly the biggest Rugby tournament in the world, even bigger than the much-hyped Six Nations Cup.

Held every 4 years, the winners of this tournament are presented with the William Webb Ellis Cup. The first world cup was held in 1987, and has been by New Zealand a record 3 times, followed by two wins each for Australia and South Africa.

Though the sport doesn’t have the same global reach as football, its presence in wealthy countries such as Australia, France and England has helped it become a heavyweight in the world of sports and sports betting.

The total revenues including sponsorships from the 2015 edition touched a staggering $260 million. The total betting from the 2015 edition crossed the $60 million mark, which is astonishing, considering the sport is played by only a few international teams.

11. Formula One Races

Sport : Motor racing
Venue : Iconic race tracks across the globe
Date : Throughout the year
Prize Money : $850 million annually
Number Of Participants : 20 racers for each race.

Nothing is more thrilling than seeing heavy duty machines zip past you at speeds of more than 350 km/h. These turbo charged mean machines are aerodynamically shaped to achieve maximum speed and torque, and have made this sport one of the most watched spectacles in the world.

In one Formula 1 season, there are 20 different races held throughout the world at iconic racetracks. The most famous and expensive races are the Monaco Grand Prix and the Abu Dhabi Grand Prix, with the Singapore Grand Prix not too far away either.

With a staggering $850 million seasonal prize money award, F1 has no dearth of sponsors and luxurious affiliations.

It regularly attracts the richest people to own the teams as well as to watch in private boxes, and those people are naturally inclined to bet on their favourite cars/drivers as well.

Formula 1 is one of the most lucrative markets for gamblers, and its popularity does not look like diminishing anytime soon.

12. Nascar Races

Sport : Motor racing
Venue : Racetracks across USA
Date : Throughout the year.
Prize Money : $11 million per race on average
Number Of Participants : 40 per race

The premier stock car racing organization in the world, NASCAR stands for National Association For Stock Car Auto Racing, and is owned and operated by the family of Brian France Sr, who founded the organization in 1048.

It is considered as one of the biggest motor racing organizations in the world, with revenues matching that of the Formula 1. The winners of each race are paid a whopping sum of $11 million each on average, with the races dominating the TV ratings all over the world.

Though all the races are held in the USA, NASCAR has a global fan following which enables it to capitalize on merchandize and advertising revenue.

Sports betting in North America is dominated by the NFL and NASCAR. While the Superbowl figures are unmatched, NASCAR sees a higher number of overall bets placed across the year.

The thrilling sport has seen billions of dollars exchanged through bets, both legal and illegal, in the last couple of decades.

13. Wimbledon

Sport : Tennis
Venue : Wimbledon, London
Date : July every year.
Prize Money : $42 million
Number Of Participants : 128 each (Men and Women’s singles tournament)

One of the oldest and most prestigious tennis tournaments in the world, Wimbledon has a rich and deep sporting history.

Some of the greatest champions of the sport have been ranked in order of their Wimbledon titles, with the legendary Roger Federer, who’s also the current champion, winning the maximum number of titles with 8.

The Championship is also the only tennis grand slam to be played on the traditional grass surface, and is also comfortably the most watched tennis tournament of all time.

The competition has a very royal feel to it, and all players respect the rules by wearing all white attire while playing. Big names from all fields are invited to watch the games and many celebrities can be spotted at each match.

The prize money from the event is more than $40 million, and is divided amongst the players depending on where they finish. Gamblers are also very fascinated by the event and it was reported that in 2017, the event saw more than $1.4 billion being wagered, a record in modern sports.