By Tyler Lai Sai
Online sports betting habits are increasing globally – and with an event as huge as World Cup 2026, this observed surge is more prominent than ever.
Recently, it was reported by Polymarket that a trader had placed over nearly 1 million US dollars on Spain winning their match against Cape Verde.
With stats showing that Spain had a 92% chance of winning, it came as a shock to audiences when they drew 0-0, resulting in the trader losing that money.
This loss highlights the risks of online sports betting.
Online sports betting
There has been an increased surge in sports betting over the past decade.
Multiple factors have contributed to this, including the widespread legalisation and legislation of gambling, mobile accessibility and increased marketing and advertisements campaigns.
Online sports betting poses a higher risk of addiction than past forms of gambling as mobile accessibility allows for quick and easy access.
Sports betting in the FIFA World Cup
The FIFA World Cup of 2026 is expected to be the biggest betting event that has ever been recorded.
There are already over 50 billion dollars in wagers that are placed globally.
In the U.S, it is estimated that Americans alone are expected to spend up to 3.1 billion dollars on sports betting in the World Cup.
This is 1.3 billion dollars more than the 2026 Super Bowl.
Chad Benyon, a Macquarie analyst, stated that the expected surge in gambling revenue is mainly due to the fact that there has been an increased number of teams, from 32 to 48.
Les Bernal, the national director of Stop Predatory Gambling, stated that hundreds of thousands of people across the world, especially young men, are going to suffer life-changing debt and financial stress due to their gambling habits of the FIFA World Cup 2026.
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Why can sports betting be so addictive?
Illusion of control: Participants often feel as though they have a sense of control over events that are random, uncontrollable or unpredictable.
Unlike casino games, sports betting requires an analysis, stats and personal knowledge.
People feel as if they understand the stakes or the team well enough, hence why they place bets which fuels this false sense of control.
Dopamine hits: Gambling in any form can be addictive as it activates the brain’s reward system.
Dopamine is known as the ‘feel-good’ neurotransmitter.
When people place money in sports, the anticipation to win is greater than the actual win itself.
The ongoing anticipation in the game releases dopamine which is what drives audiences to carry on betting. The ‘high’ becomes addictive.
Studies have also shown that the brain also releases dopamine when the reward is uncertain, which fuels the need to bet again in sports betting.
Young adults in particular are at greater risk of developing an addiction towards online sports betting.
Young audiences have immature brain developments, which are more susceptible to dopamine spikes that are associated with winning.
An investment opportunity: According to an article by Portland Press Herald, it is stated that gambling, especially amongst younger people, view it as a way of making a quick buck.
It is viewed as an investment rather than gambling.
Hence why people continue to bet on sports. It is not viewed as a gamble but rather a calculated risk that can earn one extra money.
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